Potentially huge day for Bitcoin adoption in the US tomorrow with Square auto-enabling Lightning for millions of merchants.
What are your expectations?
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Yeeeep gonna go to my coffee shop tomorrow and see if it works
Learned to have low expectations
Does anyone know what it will functionally look like yet? As in, if I were to walk up to a square using merchant, how could I show them how to accept bitcoin?
Gosta de mim hein? Sim, estou ansioso para ver como será, afinal 4 milhões de comércios aceitando Bitcoin pela Lightning é algo incrível.
Pena que não moro nos EUA.
Probably turns out to be a nothingburger….but I’m excited about the idea. For the non-bitcoin crowd, it still falls back to a CashApp to Square transaction. They should also make all CashApp transactions run over Bitcoin rails and auto convert 75% to fiat and make the merchant change other 25% to fiat if they don’t Bitcoin like they are making the merchant turn off Bitcoin acceptance instead of allowing them to turn it on.
Hoping I don't even have to mention btc to the merchant at all.
I think that's a winning move. I know @Leo agrees
Clever but risks the merchant turning it off entirely. We need to employee the reverses boiling frog tactic to further freedom imo
I am gonna buy some donuts, some coffee, and some pizza, hopefully in that order, from local merchants with square terminals.
I hope it succeeds
I expect it to work where I can just pay with lightning and they won't even know. I am making sure to set myself up for disappointment
I’m thinking… I need testers and contributors for Pura (https://pura.xyz), a nostr protocol to optimize AI agents representing SMBs to transact on Lightning
Are you paying food money? Happy to be of service
Hype. One/2 day usage and photos on socials . Then nothing. Just like steak n shake adoption hype.
📌🗺️
Any insights you can share?
The merchants have been incentivized, now they have to incentivize their customers. I’m afraid customers have gotten use to the idea that they have to pay the fee to transact with a credit card, that the merchants don’t care anymore. I hate being told I have to pay 2% more (or whatever they want to charge) for the convenience of not using cash.
I’ve been offering a 5% discount for people to pay in bitcoin and promoted Cashapp as my payment of choice since January but still haven’t gotten a payment in bitcoin. I’ve had inquiries and conversations, but that’s it.
What do you mean it falls back to a CashApp to Square? Square terminals support generic on invoices.
I have had zero people ask, know about or pay with bitcoin at our square terminals. This feels almost like just for the homies.
I predict New York will have zero Lightning transactions via Square.
My expectation is pain always. Followed by more pain lol.
But the normie nonbitcoin crowd will need to use Cashapp to “pay with bitcoin.” Cashapp has a really cool feature where you send cash, they receive cash or bitcoin via the Bitcoin rails. If your not into bitcoin, your not gonna be able to do it any other way. Don’t get me wrong, I like what their doing and I’ve been selling what their doing since November. But they still have pain points for normies to get setup and if the normie has no reason to do it’s they won’t take the time to get it setup.
I expect a lot of bitcoiners to virtue signal then not spend a single sat
I hope they prove me wrong. At least once a week spend sats at the same place and post to #satswheremymouthis
Good points. I don't think a normie that doesn't have bitcoin has a reason to pay with bitcoin unless the place doesn't take cash and they forgot their card. CashApp to Square has no privacy.
$44K
You know what I hate more than paying a fee is going to a place that's proudly "cashless" that uses Square but didn't turn on bitcoin payments. It almost feels like they are making a political statement for no privacy.
We plan to test it out! Hopefully works smooth enough that we can plan an event around it.
Would love a video showing how it will flow.
Big step forward, but still so early. No noticeable effect.
Imagine if this dropped the same day as a bitcoin de minimus. I think Jack should have timed it to do so.
My expectations are that merchants won't know how to accept bitcoin when requested because the control to select it is not familiar to them. I also think some merchants will laugh and say "we don't take bitcoin" even though the app does.
Excited but tempering expectations. This stuff never works out like we hope. Guessing software updates will be required. No one updates their software. Probably will require some help from the worker to get the pay with Bitcoin option. We all know how that’s gone, so far, even for places with the option turned on by an owner or a different worker. Maybe I’m just jaded with merchant adoption, but hoping to be pleasantly surprised.
Gradually, then suddenly.
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Nothing. The people are retarded. I've been using Square's convert feature for 21% of my square payments since October.
I've advertised a BTC discount with my business for years and only 6 clients have ever paid that way.
I've asked dozens of businesses if they'll accept BTC and EVERY SINGLE TIME I get a crazy glossy blank stare.
They'll get it at the price they deserve and that price is gonna be WAAAAY higher than today's strike.
This. I had 2 clients almost get a BTC discount by using Cashapp to a lightning invoice but it started asking for way more kyc and quizzed them as to why they wanted to use BTC and it became such a hassle they quit and paid the additional 5%
Adoption will be driven by merchants demanding, or at least preferring, bitcion.
This is nice for people who want to spend bitcoin, but there just aren't that many of us.
It hopefully gets better. But I tried 3 family members a few months back and none could sign up. I contacted support on 2 of them and got it working. Because it worked for me out the gate, I assumed it would for everyone else but that was not the case. I still offer a 5% discount and to help people get setup with Cashapp to pay with bitcoin. I believe in what they are doing and want it to succeed. I want to see all the cc companies burn to the ground. 😂
Likely negative effect on price in the short term as most bitcoin will be instantly converted to fiat. Still a win for freedom though.
I thought it already happened
58k
It’s definitely a tire in the right direction as far as Normalizing it. Unfortunately people are too oblivious to even realize what it is or why it’s a thing. I love the fact it’s happening. But I already host my own lightning PoS anyway sooo yeah. Cool stuff though
Turn*
Found the #FED
I think 1% default to Bitcoin is more reasonable and maybe like 5% for Bitcoin transactions coupled with a monthly report on how much they stacked.
Enabling a feature does not automatically translates to use. Use depends on users willing to use it. In LATAM might be a different story. In general HODL/speculative philosophy is a problem. If Bitcoin does not become real money it will slowly decline. We need circulation of BTC to keep miners around. Ask @Jeff Booth
Me too
That would be a gift 🙏
Yeah pretty sad
I would think this would affect the price of bitcoin
I expect nothing.
That's so pog
so anywhere they use square, that'll happen? idk how many places around me use it.
Only that they are not automatically being added to the map like with opt-in onboarding.
More KYC.
More people selling off Bitcoin?
I think 99% of the merchants will turn it back off because they didn't want Bitcoin or they would have already had it turned on. Not trying to be a downer or anything, I legitimately think the vast majority of Americans don't want Bitcoin. To be clear I'm not saying I'm in agreement with them, just I think this will happen. Maybe I'm wrong though 🤷♂️
I mean it’s cool, but no one is going to be using it, unfortunately.
Huge deal. And eventually I expect the QR code to be shown by default, scannable by every Lightning and Cash App user. I do hope one day this will be just “pay with lightning” rather than “Cash App” or “Bitcoin,” but either way it will become a major standard
33k. Illuminati confirmation
This isn't even the first inning. Were in the pregame phase.
You’re probably right, 25% is a little aggressive. But I was coming from the angle that there’s not gonna be a big influx of transactions right away so 25% will not be that much for the overall transactions a merchant will have.
You people publicly zap each other to known lightning addresses on a platform that cannot be deleted
But ya I am a nefarious fed for encouraging people to spend sats at local businesses and not zap fart memes. Lets just let Saylor put all the bitcoin in coinbase and turn it into a stock. Who needs p2p commerce?
Lots
Nothing Burger.
square auto lightning ?
i will try it out, I really hope it is as simple as me saying 'Im gonna pay with my phone' and then there is some unified QR code that I scan.
But @HODL told me not to spend it. Ever.
the main reason to take advice from religious fanatic is the desire for social inclusion.
Just one small step in the right direction. Long ways to go
imo it will take several generations or longer for btc to be adopted as a cash system. I think everyone that thinks it will be adopted as a cash system in our lifetimes is overly optimistic. The current financial system is much more entrenched in society, politics, et. al., then any of us realize.
Tried scanning the QR on a square terminal at the local coffee shop today - - nothing. It was just a cashapp QR
True if big
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True if big
We are cool with that. 😜
Keep the map down to just who is hip.
It's a good deal. Just having the option...
Bitcoiners WILL use it...and merchants will eventually understand...
Lightning adoption via Square is a solid step, but merchant adoption ≠ demand surge. ETFs drive deeper liquidity—saw an article breaking down how ETF flows could shape BTC’s price floor/ceiling by 2026. Worth weighing both fronts.
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that nobody will actually spend their btc still