Nostr Web Client

Here’s a bitcoin story for you this week - more of a question really. My freelance job clients are from all over the world and payment can be a pain. This week was the least painful, I lost 3% from foreign bank transfer fees, but not before the payment was rejected for "suspicion of fraud" because of where I am. Trying to suggest the idea of bitcoin often tends to be difficult - these are high profile folks, but they are not comfortable due to its rarity and some want the audit trail. I am wondering how we can make using bitcoin for payments more common. Do apps like Cash App, which supports both fiat and bitcoin, ease up this transition in people’s minds? Could services like TBD's off-ramp/on-ramp make international transfers more easily adopted by entrepreneurs and implemented globally ? How do you foresee Nostr playing a role in encouraging Bitcoin as payment for goods and services in the long run ?

Derek Ross 2y ago

CashApp and their upcoming on and off ramps will help with this, yes. However, I really like Strike's approach with their send globally feature. They're utilizing Bitcoin the monetary network to send funds around the world instantly with very low fees and then partnering with local entities to transfer from bitcoin back to fiat. The results work fantastically as users don't need to think of Bitcoin as the asset, they're just thinking of Bitcoin as a way to send dollars and get their local fiat or vice versa. They essentially never touch bitcoin, they just utilize the network.

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Discussion

pam 2y ago

that's a great input, i will check it out. I think there are many segments to payments, some want traceability, for instance gig economies are an intersection between individuals and businesses, and some prefer full privacy - and having options for both will be great. the option to convert from fiat to bitcoin from anywhere in the world and vice versa is going to ease up bitcoin adoption tremendously. Thanks for the input!