Do you think low processing fees is more beneficial for merchants?

[franky1]

low fees are a benefit to all.. merchants and users

bitcoin itself does not work in percentages. but humans so. no one likes to pay more then a couple % of their goods/services in fees.

so when bitcoin is being re-coded using stupid cludgy crap to push fee's up where by fees average $2-$20.. this stuff then rules out many usage reasons for bitcoin
such as billions of people in 3rd world countries cant even move a few hours of wages because the fee alone is more then those wages. they wont want to use bitcoin for a months wage becasue this more then a few percent of their months wage.

people in first world countries wont want to use bitcoin for normal living stuff like paying a $50 utility bill becasue the fees can be 4%-$40% of the actual bill.

and no the solution should not be to abandon using bitcoin and find another currency that has cheaper fee's.. the solution is actually to sort bitcoin out to be a currency for the unbanked again (currency for even the poor)

asic miners do not touch or select transactions. they just hash a hash. it doesnt matter to them if a block is 1tx of 400bytes full or a 4mb block of 1 monkey image or a 1.7mb of ~3000tx(treated as 4mb of weight). the miners job remains the same.. hash a hash.
asics do not have hard drives so transactions are not an impedance to asics.

as for full nodes. core software is not even compatible with things like windows 98, xp, vista.. so pretending bitcoin should be compatible with hardware pre 2003 is nonsense defence to hold bitcoin to ransom at low tx counts.
we are in 2023 not 2003.. so dont be fooled by the debunked rhetoric of "blocks should not be more then a win95 floppy disk amount"
heck these days billions of people are downloading movies and uploading livestreams of more then 24mb an hour (4mb x 6) so its not like we are in the days of dialup. (unlike what altnet onboarders want you to think, where all they are interested in is getting you to use their preferred other network)


bitcoin should be capable of processing more tx counts per block so that each individual pays less because the total fee going to a mining pool is still a good total fee combined as the reward due to more usage, but with each individual paying less
EG 2000tx paying $20 each or 20,000tx paying $2each.. same total for pool owner but each individual pays 10x less and allows for 10x more users to happily use bitcoin
did you know if you remove the bad math cludge of the 1mbtx data 3mb witness crap to be a proper 4mb space of real ex data with proper signature required formatting rules of a normal 2in 2out. there could be 16,000tx instead of the current ~3000 average being seen as "4mb weight"


blackmailing bitcoin to have less transactions per block via many exploits, byte miscounting, and segregating parts of data where tx cant use the full 4mb properly.. and many other issues experienced in recent years is causing less people to want to transact. this needs to be fixed

and no its not just the FUD about "bigger blocks" its actually to get rid of the byte miscounting cludge and the premium creating stuff that pushes fees up. its about actually counting every byte and ensuring each byte has ethical, efficient and economical reasons for being in a tx. where each opcode has proper formatting rules of expected data that should be used for such opcode. to avoid random junk just being included to fill the space.

also where by fee's are not made to make everyone pay a premium. but instead whereby spammers re-spending very low confirm counts pay more if they want to spam .. thus not everyone pays the premium. just those that want to constantly take up space too often than normal real life usage would show.

in the real world normal people do not use a ATM/debit/credit card every 10 minutes every hour every day. most people only use currency once or twice a day on average. and so if those that want to use it every 10minutes 24/7 should be the culprits paying the premium. not the ones that get the discount whilst causing everyone else to pay the premium

bitcoin is code and code can and did make rules. its just a shame that over the years certain key members of core devs(5 of them now) are too much in power controlling and removing the rules to cause bitcoin to become less useful for the masses. all because they are sponsored to promote that the masses should abandon bitcoin to use other networks they prefer. and we needs to do something to fix this game they are playing

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[Z390]

It is expected that many people will stay away from using crypto for means of payment if the transaction fee is high, and even if they have to, they will prefer to use the crypto to buy for a large amount of buying orders, this is what will make the transaction fee worth spending in the first place.

If my customers are buying bags of cocoa from me with crypto I will go with coins like Dogecoin and Litecoin or Bitcoin, but now that ordinals is making Bitcoin transaction fee to surge it will just be a plus to the other two.

If you want to go deep into such business as a merchant make sure you choose some very cheaper projects for means of payment .

[zanezane]

Processing fees are the costs that merchants pay to payment processors or financial institutions for handling their customers' electronic payments, such as credit card transactions. Low processing fees benefit merchants by saving them money, giving them a competitive advantage, increasing sales, satisfying customers, and improving cash flow.

[BVeyron]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Transaction fees are not the only obstacle in adoption process. Nearly none of the business initiatives work directly with cryptocurrencies. They all need crypto-fiat transactions, so the problem with btc is that it's highly dependent on fiat banking services which provide this type of transfers.

[serjent05]

Fees are the major concerns of business so if there is a chance to make them lower then it will greatly benefit the merchants.  They will have more profit since the processing fee is already trimmed down.

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Transaction fees are not the only obstacle in adoption process. Nearly none of the business initiatives work directly with cryptocurrencies. They all need crypto-fiat transactions, so the problem with btc is that it's highly dependent on fiat banking services which provide this type of transfers.

We all know that but having the processing fee trimmed down will at least makes merchant interested in accepting cryptocurrency as a mode of payment.  BTC is not highly dependent on fiat banking services, Bitcoin itself can transfer its  own currency through its network or blockchain, merchants are since they have to undergo a conversion process in order to have their fund accepted by non-cryptocurrency establishments.

[Adbitco]

I am just trying to comprehend what you mean, on a normal note no exchange that doesn't require fee just as you have mentioned above but what is there as regular user of an enthusiasts you should have been able to detects those coin that charges you lesser when making withdrawal because I know too well that bitcoin withdraw is not that favorable nowadays due to the network congestion.

[Minhxx]

For me the fastest transaction is the most important. The transaction fee may be higher than other exchanges but it is not worth it. No one wants their money to take a whole day to reach their wallet
Low cost transactions coupled with fast will attract users to join

[siniminomorocomunisakito]

It seems interesting too. Lower processing fees are indeed more profitable for the merchant. High transaction costs can eat away at their profit margins significantly, making it more difficult to run a sustainable business. Yes. A payment gateway that only charges a 0.23% processing fee on transactions sounds very attractive, as it allows merchants to maximize their revenue as (OP) said, but I have never tried it myself and only heard about it. it's a good idea to look into https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks. to be clear because it is a crypto payment method as well.

[xSkylarx]

Low to no fees is really good. For sure, no one likes fees, even yourself. If you cash out your money, you still need to pay fees. How much more the merchants? They just have no choice but to pay those fees because other people want those payment methods, and if they don't have those payment methods, they lose customers. But again, we understand that all of us need to earn money, which is why they charge fees, but some are too much because they noticed a lot of people using their services, so their fees went up.