Just enabled bitcoin payments for a friend's Square terminal.
They were skeptical... then they saw the "0% transaction fee, instantly convert to USD" and they said, "fuck yea - do it". This is someone who has been mildly hostile to Bitcoin historically, but also hostile to paying credit card companies 3%.
The game is on. Square likely just kicked off an inflection point in history.
I gotta remember to mention this at farmers market next week
I already handed flyers with the Square info to all the vendors I frequent at our Farmer's Market on the last day this year. Said to look into it over winter. I'll have to see if I can walk them through enabling it in the spring if they haven't already, several have "prefer cash" signs so I hope the 0% fee will get them started and then we go up another 50% over the course of 2026. 😆
Signal📡🟣🟠
So many business owners I know are so hostile to paying banks their cc surcharge.
So many Bitcoiners I know more than willing to pay the routing fee to avoid fiat payments completely.
🤝
Does it trigger a tax event to buy something from a square terminal with btc?
Only if you're not careful.
In other words: yes. I believe it's considered a "sale" of the bitcoin (even though you didn't "sell" it, you sent it to someone else). Don't ask how this makes sense; it doesn't. It's a fucking criminal racket.
The IRS applies this to all barter.
they imputes a USD value to both sides of the transaction, which creates a "realization event" on your side, since they're looking at the BTC you're "disposing of" in USD terms, and this current USD value is likely higher than the value when you received the BTC.
Presented
i love it
might be harder to pull off if you're buying goods though. it implies the merchant was giving away, at a loss, their products to you, which is unreasonable.
they'd need to be in on it and also have their own sign about how they are running a special where they discount their goods 100% for bitcoin transactions. then you say "oh wow thanks for giving me this for free!" and present your card and ask them to put X amount into their square terminal so you can send your gift.
and you'd still both get arrested.
😂🤝
The new tea party incoming, the new 3% triggered.
3 sats for the 3%. We should make this a thing
This is the hook. No more fees. Square will gladly take the Bitcoin these merchants are still sleeping on for cash they're getting elsewhere.. I'm just keeping the SATs though.
Orange pill fastlane is always show them how much they're getting rekt, first.
Incentives change commerce
The Bitcoin adoption flywheel in full swing
Moments like this remind me of just how early we are
The payments businesses are going to be well aware of this development, even if they don’t admit it
