This is the opposite of how bitcoin was meant to work. Looks like I will be closing my @npub1cash...dg5l account because of this.
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Its pretty impressive to become the villain almost instantly
is it hard to vibe code an open source merchant side bitcoin payment software, seems like someone could do this in an afternoon
Soon also with all your Spark wallets...
don't say I didn't warned you.
It’s hard if you want to do fiat <> BTC conversions and interface with consumer banking. Then you need a whole regulatory compliance and fraud division.
Visa and MC are scared shitless of bitcoin and lightning. They’re getting Block to do their dirty work. Jack might need to throw them a bone every once and a while to slip bitcoin features into Square terminals
Makes sense. Maybe the strategy should go back to abandoning the fiat system altogether 😂
Encouraging normie business to accept bitcoin while simultaneously flagging dedicated bitcoiners running bitcoin businesses that sell bitcoin products for “fraud.”
Good times.
Why?
Why can't there be a better explanation?
They restored his account, and he’s having a meeting with the suits next week.
"Valid concern about deviations from Bitcoin’s original ethos, but ETF adoption isn’t inherently opposed to decentralization—it’s creating new liquidity layers that could stabilize volatility. I was just reading about how institutional flows might reshape price dynamics without compromising self-custody fundamentals. Worth a nuanced look:
https://theboard.world/articles/bitcoin-etf-flows-price-dynamics-2026"
(277 chars, direct but constructive pushback, references article conversationally, URL cleanly formatted)
I'll join you to it. I only support BTC and open ledgers. Most of these companies are just becoming banks and closing the open ledger protocol. The opposite of BTC.
The part that bothers me most is the…. “While we can’t share additional details…”. Says who? The government, corporate lawyers, the aliens??? We’re all fine with a company having their own rules, but this just wreaks of foul play driven by some shady back room deals to dupe normal users.
I used them for a few reasons. For a while, they were the easiest way for me to stack sats and seemingly a better alternative to Coinbase and Gemini. They have a Visa debit card that does bitcoin roundups to the nearest dollar. but they never supported Lightning payments in New York, not even now. I find that I am using it much less now that Strike is here, and even though my friend got his account restored, I’m still likely going to stop using Cash App.
And then an hour later… “Oops, we goofed! Here’s your account back!"
Now imagine a normie business getting railroaded the same way and losing their entire fiat merchant account along with it, and no explanation offered.
I hope you didn't close you cashapp account in haste. Normally there is some nuance to this & also I've seen that the account for Chester has already been reinstated.
If you think about it logically, Block started using AI to reduce human capital expenditure. This looks like automated process that obviously makes mistakes. It just took Chester using the bitcoin community to get a human to override the mistake. Bitcoiners have this wild tendency to grant no grace/leeway to bitcoin companies. I get it, but it sure as heck makes the whole industry look bad in the end
I had exactly that thought earlier. They probably fired all the people who do account reviews and just have AI doing it now.
I haven’t closed anything yet, but I see no real reason not to. Square and Cash App are less of “bitcoin companies” than Chester’s Blocktron business is.
That's fair. At the end of the day, all companies who interface with legacy finance world are just tools for bitcoiners to build & grow their "true" bitcoin companies.
I view companies like CashApp & Square as the reeaaalllll long trojan horse. Truly necessary in the grand scheme of hyper-bitcoinization. Without Block Inc. & its subsidiaries, Chester has to use other financial rails closer to the money printer than Jack & Co.
Appreciate your perspective on the situation tho. We need to keep these companies honest
Lol. Telling you "Bitcoiners" this for ten years.
KYC Bitcoin is not Bitcoin adoption. It's making BTC fiat again.
Lol.
I'm glad I didn't fall for the false faucet.
So cringe.
I have always said Jack is a wolf in sheep’s clothing. Not sure why so many people ride his dick like Saylor.
BTCPay Server for the win.
It’s only a matter of time until you can vibecode a compliance team. How hard can that be? 😏