Accept donations in CAD

[MZ3K]

In the thread suggesting a Las Vegas meet up, @Shane joked

I'd do this, except the CAD to USD ratio right now would break me and leave me living on the streets haha. Kidding, I would be all for this if someone sets it up.

If Shane's Canadian, he likely pays some of the server's expenses in CAD.

If that's true, then some donations from Canadian players are being twice reduced by exchange commissions: once on conversion to USD and once on conversion back to CAD. If Canadian players could donate in CAD, then both the server and those donors would save money.

 

[Trojandrew]

would the prices be the same just converted? or would that just make the euro and us players get more bang for their buck on the conversion?

 

[Hexoplex]

Could see it like this:

500 Dono - $5 USD
500 Dono - $4.61 Euro
500 Dono - $7.04 CAN

 

[Trojandrew]

was hoping for more of a
500 Dono - $3.55 USD
500 Dono - $3.27 Euro
500 Dono - $5 CAN
only a dream, i know shane can't make good business off that lol

 

[MZ3K]

would the prices be the same just converted? or would that just make the euro and us players get more bang for their buck on the conversion?

To make the math easy, let's say 2 CAD = 1 USD.

If Americans pay 10 USD for 1K dono coins. Canadians would pay 20 CAD for 1K dono coins.

So no one is getting anything for free.

However, right now, Canadians have to pay a money changer (either paypal, their credit card, or someone else) to buy USD. So assuming the 2CAD=1USD, with the (approx 5%) money changer's commission, the price for Canadians is 2.1CAD=1USD. But Shane doesn't get that 0.1 A third party does.

Then when Shane goes to convert those donos to CAD, he pays the commission again, so about 10% of the value of the transaction goes to a third party. That's on top of paypal's usual fees, banking, etc. It adds up quick.

 

[Hexoplex]

Lol, I would love to only have to pay $7.10 per 1k...I'd order 10k every other month (on avg., got bills and crap).

 

[MZ3K]

Could see it like this:

500 Dono - $5 USD
500 Dono - $7.04 CAN

Basically this. The advantage is that everything the money changers get now would stay in the UOF community instead.

 

[Peav]

I never donate for much since the currency rate between USD and PLN (my money) is in a humongous difference.
in Poland peoples monthly salary is 4x smaller (USD net. ~ 850) and in the US i believe its around (USD~4,000 net).
But that doesn't matter that much if you have your savings, etc. But if your willing to donate your 4x smaller payment than the exchange rate by paying PLN to USD is 4:1. So Four dollars of Polish money (PLN) is 1 American dollar. So yeah, if i ever donate it will be 4x more expensive than you guys do and the time i needed to earn that much is 4x longer because of the salary.

note: salary payment in PL and stock indexes for USD-PLN do not vary with each other.

was hoping for more of a
500 Dono - $3.55 USD
500 Dono - $3.27 Euro
500 Dono - $5 CAN
only a dream, i know shane can't make good business off that lol

I asked already Shane if he could make me discounts for dono orders since im overpaying with my USD transfer and he said it wont be fair if i sold the dono to other players and keep doing it.

Looking at that list 500 dono should be - ~ 0.88 PLN which i would gladly donate every time.

 

[MZ3K]

~ 0.88 PLN which i would gladly donate every time.

With the poor CAD-USD exchange rate, I empathize with you. But just to clarify, what I'm saying here:

• I am not proposing that dono coins be made cheaper for people whose local currencies are weak relative to USD.

• I am proposing that we cut out the USD-CAD money changers by taking advantage of the fact that both Shane and Canadian players already work in CAD.

 

[Trojandrew]

on another note because of the double exchange you do from CAD to USD back to CAD, you would be eliminating certain tax exchanges and whatnot because you go through it twice. wouldn't shane have to also adjust the rate to equal the USD exchange since we still do 1 conversion overall? so he would have to adjust it so basically you wouldn't have to pay the same price, but it wouldn't be a twice reduced conversion, it would just be reduced to the same as US to CAD would be percentage wise.

just trying to play the devils advocate on the business side of taxes and exchanges. i like the idea tho.

 

[MZ3K]

it would just be reduced to the same as US to CAD would be percentage wise.

Exactly.

 

[Swayze]

Seems overly complex to me. Would have to manage the percentage if the CAD went up/down which would be a big pain from an administrative stand point.

Let paypal take care of the exchange.

 

[MZ3K]

Would have to manage the percentage

They might want to manage it only if the change in the percentage offset the commission that Shane pays (or that both donors and Shane collectively pay). I'm guessing that that would be about a 10% change. In all other cases it would be more profitable (or beneficial to the UO:F community overall) to have a CAD price and absorb the fluctuations. A 10% change takes years, or many months at the least, so rate fluctuations wouldn't be a big deal.

But what is and isn't a big deal is really up to management, so I shouldn't say.

 

[Swayze]

I am Canadian so obviously I would like this but what I am saying is its 1 other thing that needs to be managed in the back end. If it doesnt get updated in months then ppl are getting dono coins at a discount.

Also, the server costs are in USD so its just so much easier to pay for.

 

[Deadpool]

​

I am all for anything Canadian.

 

[Hexoplex]

​

I am all for anything Canadian.

Chimichanga (/tʃɪmiˈtʃæŋɡə/; Spanish: [tʃimiˈtʃaŋɡa]) is a deep-friedburrito that is popular inSouthwestern U.S. cuisine and the Mexican states of Sinaloa and Sonora.

You got some splainin' to do then....

 

[Deadpool]

Chimichanga (/tʃɪmiˈtʃæŋɡə/; Spanish: [tʃimiˈtʃaŋɡa]) is a deep-friedburrito that is popular inSouthwestern U.S. cuisine and the Mexican states of Sinaloa and Sonora.

You got some splainin' to do then....

Okay, it's pretty simple, actually. I am Canadian. I love chimichangas and their origin doesn't matter. The end.

 

[MZ3K]

If it doesnt get updated in months then ppl are getting dono coins at a discount.

The difference would have to exceed the exchange commission before that happened.

what im saying is that its 1 other thing that needs to be managed

True.

What I'm saying is that saving 10% might be worth it.

If the admins consider the idea, they'll judge whether it is worth it. I just want to put the idea out there for their consideration.

 

[Kael]

Canadian funds for Canadian donation coins ! In light of the recent world junior fiasco I think there should be a discount for all Canadian players to help our sorrow