No more bank fees for merchants?
That's actually a coherent comment. Who are you, and what have you done with dave01? :-)
The bank fees that affect merchants are credit card fees. Merchants could accept BTC to avoid credit card fees, and that's a clear advantage. They also avoid chargebacks that way. And yet they aren't rushing to accept BTC. How much less likely is it that they would accept some obscure alt coin like XPY?
A merchant of any size doesn't pay bank fees other than for credit cards. I just opened a new business account at the local bank, with zero fees for $50 min balance. Checking + debit card. Huge fees for credit cards though, that's where they get you.
Merchants who accept crypto will, with few exceptions, immediately sell it for fiat. Their suppliers want to be paid in fiat. Their utilities and mortgages and rents have to be paid in fiat. Their employees want to be paid in fiat. Taxes have to be paid in fiat.
And if the merchants immediately convert crypto to fiat, when you buy something with your crypto you're adding to selling volume. IOW, it's downward pressure on the price.
What Josh is suggesting that he'll offer is some merchant accepting XPY at 10% over market. Right now that's about $0.90 per paycoin. I doubt he can even accomplish that much, but time will tell.
