Nostr Web Client

It’s a massive onboarding tool. At least CashApp in particular.

I pay people for services from my lightning node to their cash app wallet.

If I had to onboard them properly to self custody, it wouldn’t have happened at all, they’d say no thanks and I’d have to pay in dollars

It’s almost crazy I have to type this obvious statement out. No. We haven’t lost the plot.

modulo 8mo ago

You explain your perspective clearly and I appreciate it. How does that onboard someone? Do you pay them in bitcoin or dollars? I am trying to see it from your perspective.

For example, if they already accept bitcoin inside of cashapp, paying them in bitcoin doesn’t improve their independence or sovereignty, and if they convert to accepting bitcoin in cashapp you’ve given them a new set of chains.

Otherwise, if they are just taking cashapp bitcoin and converting to dollars nothing is onboarded at all. For example, you are in a taxi and you ask if he accepts bitcoin. “Cash, Venmo or CashApp,” is his response. So you say to him you’ll send him bitcoin and he can exchange it to dollars on his end he has to trust cashapp won’t lock his account someday due to “suspicious transactions” that triggered an AML algorithm somewhere not.

It’s almost as if saying, there is a better way to transact in the world than the chains you currently operate in, so try on this different set of chains.

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Discussion

LightningSpore 8mo ago

I’m helping myself out more than I’m helping them. I want to spend this bitcoin, it is earmarked for this purpose, I just need to get them to accept it.

Each time I send them money I ask, “you better not be selling 100% of this, you should keep some”. Maybe they do keep some, maybe they don’t. Either way they’ve gained a small bit of confidence that bitcoin isn’t scary and hard to use.

If a couple months or a year down the line I made some progress, they say “yes, I’ve been saving! Now I have all this btc in cashapp” I can begin my self custody story. But this way I don’t bore them with my highly technical hobby upfront, I let them decide if they want to go the next level.

But in the end, I’m helping myself out the most. Gaining confidence that, yes, I can spend this bitcoin someday. Directly, without selling for dollars. Growing my network of people who will accept btc for services.