Nostr Web Client

it will be on by default for all sellers, allowing people to pay however they want, and sellers will never miss a sale.

by default it will auto-convert to fiat, and sellers can switch that to holding the bitcoin instead. i hope most do that. but they can also use our reserves feature to convert a percentage of incoming sales to bitcoin.

nostr:nevent1qvzqqqqqqypzp9ckzkms4k0v39hc6kaq7tgpv5h3mljlnnkcrty5d898lt80445tqqszu47r3tzf2596henucmstcmczzgllrrs6dux0zdwf6fqgfznr38g8xw6tj

Kolby 7mo ago 💬 1

Are the transactions done over lightning or onchain?

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Kolby 7mo ago

nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgspzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgqfnwaehxw309ah8wcewwpexjmtpdshxuet59ashjan2d3jkjmrd0qcxzmphdge8qut5xg68zetyx9arwcfcwvmu86vm So it is lightning, then how is the auto convert managed?

Will square be doing auto-swaps to on-chain then converting to fiat?

Will fees related to fiat converting come out of the merchants end or will be person paying with bitcoin have to cover those fees?

How will converting to fiat impact merchants tax reporting? Will they now need to worry about capital gains/losses?