This means anyone with dollars in their Cash App account will be able to scan a bitcoin/lightning invoice and pay it without needing to first purchase the bitcoin. This is MASSIVE.
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Thank you for highlighting this development. Making it easier for people to realise Bitcoin's practical utility and broadening its adoption is certainly a welcome step for global commerce. The underlying network, of course, continues to strengthen.
Would be better if you could pay businesses and other people in USD instantly from your Bitcoin balance. Wider acceptance and more people holding Bitcoin balances. People would be incentivized to hold Bitcoin for the potential earnings.
The buy fiat button is already super easy. The advantage of spending fiat is that it helps businesses stack sats from Bitcoiners who take Saylor's oath, "I solemnly swear I will never spend a single sat."
That way fiat spending maxis can spend fiat, but the business can still stack sats.
It also allows people to pay bitcoin transactions without having to account for bitcoin in their taxes.
That's true. My taxes are a pain in the ass, but I just want as little fiat as possible.
💯🤣 One of the most common excuses I’ve seen people give for not paying with bitcoin is that it would create a tax nightmare for them. This helps breaks down those barriers for those individuals.
Bypassing legacy payment rails 🚀🚀🚀
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This is even bigger than the Square news this week, and that was the biggest thing to happen for bitcoin adoption this year.
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So they added @strike like functionality?
Yes. Rolling out tomorrow according to that post.
I love the feature in Strike, but compare cashapp user base of the two services to understand how huge this is.
#V4V artists and creators, imagine what this means for you?
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Good point!
I thought this was a @jack on @jack mallers crime, at first 😂
🤣🤣
I've heard it too. It's annoying. Some months I get lucky and don't need to pay any taxes. There's a silver lining to every cloud after all.😏
You don’t even need dollars in your cashapp, you can just connect a debit card and process through there. Really cool way to pay w/ btc and avoid the taxable event
Wow! Too bad we can’t use CashApp in Canada 😂
🫂😭 What about Strike? It has a similar feature.
Nope. No strike either……
Well, you see your first problem is, it’s Canada 🤣
😂 yep…..
The means it just got a lot easier for a vendor to only accept payment in bitcoin. Let’s go.
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When I read Cash App, my brain goes “the motherfucking caaaaaaash aaaaaap” in @MartyBent voice
@hal I'm a little confused. How does this work? Where do the Bitcoin/Sats come from if the buyer doesn't have any Bitcoin/Sats in their Cash App?
@hal And how much are the fees?
I'm just waiting for a function like this to be created for Europe 🤞
Strike does that and is available in Europe.
AFAIK the Strike version of that feature uses Venmo, which is also not available in Europe. Correct me if I'm wrong though 🙏
I meant, this:
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#BTC #Blocks
More compliance tech!!!! So good for Bitcoin!!!!
It's almost like we don't need Bitcoin for this transaction.