Nostr Web Client

I was talking to one of our locals that has one of the terminals and he was telling me that they only allow you to keep up to 10% of the daily sales in Bitcoin.

Mark Sea 7mo ago

Not sure I’m following what your friend is saying.

So 90% of the sale goes to square?

Or can only accept 10% of daily sales in bitcoin? How would they know ahead of time the total sales on any day?

Reply to this note

Please Login to reply.

Discussion

Svoboda 7mo ago

Unless his terminal hasn't received an update to the news this week, he said the option on the terminal allows him to direct up to 10% of his total daily sales to get converted into Bitcoin. That portion then get sent to his CashApp account and they take 1% for that service.

This was as of Thursday night at our Meetup when we were discussing it.

Svoboda 7mo ago

Just found what he was describing on their website:

https://squareup.com/help/us/en/article/7935-purchase-bitcoin-with-square

Mark Sea 7mo ago

Gotchya. Thanks for the clarification.

It’s moreso a win for buyers/spenders imo

Svoboda 7mo ago

Every little bit helps. My guess is if enough people opt in and use it, they'll be forced to keep moving the slider. Or if a true competition comes along and they start hemorrhaging customers.

RobOK 🔸 7mo ago

Then you are stuck not being able to send that Bitcoin to cold storage given the low restrictions