Subnostr

Why can’t I pay for coffee on the lightning network?

nostr:npub1cashappn03s3cl2ljsdntv0v28e2um5lgx4vjctqjt23pcwzjhsqmtdg5l has been doing #bitcoin for years.

Square terminals are everywhere.

nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m owns both.

nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle and nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 have also talked about consumer/merchant payments.

If the largest threat to Bitcoin is lack of adoption, why is there no visible progress in retail? Are there legal reasons in the US? What am I missing?

#asknostr

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Discussion

5c077d22... 1y ago

The goal is for bitcoin to become all of these:

medium of exchange, unit of account, and store of value

What difference does it make when the merchant just converts it into USD the moment you transact?

cactus blossom 1y ago

It doesn’t make any difference what the merchant or individual does with their bitcoin. I’m not sure what point you’re trying to make.

5c077d22... 1y ago

Just saying that ideally bitcoin grows a circular economy.

cactus blossom 1y ago

Are you implying that supporting lightning payments at retailers would not contribute to a circular economy? How else would it get off the ground?

5c077d22... 1y ago

I don't see how these highly regulated entities are going to help. Individuals opting out of the system and accepting payment for their work in a decentralized manner is unstoppable.

cactus blossom 1y ago

I think don’t think the two are mutually exclusive. I’m all for pleb circular adoption. I also want more people to see the light and embrace Bitcoin. Seeing the option at the Whole Foods checkout will surely cause someone to consider Bitcoin. And if the retailer is short sighted enough to sell Bitcoin for fiat, good riddance! More for the rest of us.

5c077d22... 1y ago

I will mention this as an aside: https://www.bitrefill.com

The tax implications of buying coffee every morning is a huge undertaking. I have been audited by the IRS for crypto and it took them 3 years of questioning me before they we satisfied. I had to trace every almost every sat from source to destination. It caused PTSD, and i still haven't recovered from it mentally or financially. We aren't going to win depending on these centralized institutions bending the knee. The IRS, etc will put their thumb on them and use them as their own agent.