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twitter.com/DanielMicay/st The small transfer we sent to test how much worse it would be if we had to start using PayPal instead of Bitcoin still hasn't gone through. PayPal claims it was withdrawn to their bank but it never went through. Typical traditional financial system stuff.

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Daniel Micay

@DanielMicay

Feb 17, 2021

Sending money to someone in India with PayPal: forced to treat it as a purchase with 6% merchant fee and a conversion fee. They need to confirm the payment and mark a product as shipped. Money is frozen until confirming a product was received, which cannot be done for 48 hours.

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Daniel Micay

@DanielMicay

Feb 21, 2021

India banning Bitcoin may make it unrealistic for us to pay developers there. It's not comparable to using PayPal or an international bank transfer to send money to the US. They treat it as if it must be a scam. I don't see these issues transferring money to the US from Canada.

Daniel Micay

@DanielMicay

Someone can't rely on us as their primary source of income if there's a high chance that the payments are going to get substantially delayed or frozen. Tempted to just pay them for a whole year of work up front via Bitcoin before it's banned since I trust them with that...

8:55 AM · Feb 21, 2021Twitter Web App

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It seems worth trying. I haven't had good experiences trying to use international money transfers via banks directly and their limits are annoying. Wire transfers are way too expensive and have even more friction.

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and

I don't want to make developers do something that's illegal to receive funding from us. I'll have to find another way of sending the money that works reliably enough for the time being. I'm pretty frustrated by this crackdown on our most reliable way of paying someone there.

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Have you considered using #bitcoin's layer 2 for instant payments - the #LightningNetwork?

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Bitcoin fees are still usually quite low for transfers that aren't very time sensitive. 1 sat/byte doesn't always cut it anymore but we haven't had to use anything more than 6 sat/byte. Lightning could help with reducing fees but BTC fees are a minor issue for us right now.

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