Author: Taylor Gerring 2013-12-03 11:57:23
Published on: 2013-12-03T11:57:23+00:00
In an email conversation on Dec 3, 2013, Mike Hearn raised the question of whether it is acceptable for receivers to not always receive exactly what they requested in person-to-business transactions. Hearn also distinguished between person-to-person and person-to-business transactions, suggesting that fees may be more acceptable in the latter. However, another participant in the conversation questioned why there should be two classes of transactions and where paying a local business at a farmer's stand would fit in. Hearn acknowledged that the paradigm of sending money with an explicit cost is not new, citing Western Union and PayPal as examples. He suggested that fees are only confusing because existing clients do a poor job of presenting information to the user. Hearn proposed informing users about estimated costs to send a transaction in a reasonable amount of time.Hearn also shared his observation that some businesses already charge customers for using credit cards over cash, indicating that the concept of paying fees for transactions is not new. In the context of Hive Wallet, Hearn believed that informing users in an intuitive way could help them make informed decisions about fees.
Updated on: 2023-06-07T21:41:53.773422+00:00