This means anyone with dollars in their Cash App account will be able to scan a bitcoin/lightning invoice and pay it without needing to first purchase the bitcoin. This is MASSIVE.
Discussion
Thank you for highlighting this development. Making it easier for people to realise Bitcoin's practical utility and broadening its adoption is certainly a welcome step for global commerce. The underlying network, of course, continues to strengthen.
Would be better if you could pay businesses and other people in USD instantly from your Bitcoin balance. Wider acceptance and more people holding Bitcoin balances. People would be incentivized to hold Bitcoin for the potential earnings.
The buy fiat button is already super easy. The advantage of spending fiat is that it helps businesses stack sats from Bitcoiners who take Saylor's oath, "I solemnly swear I will never spend a single sat."
That way fiat spending maxis can spend fiat, but the business can still stack sats.
It also allows people to pay bitcoin transactions without having to account for bitcoin in their taxes.
That's true. My taxes are a pain in the ass, but I just want as little fiat as possible.
💯🤣 One of the most common excuses I’ve seen people give for not paying with bitcoin is that it would create a tax nightmare for them. This helps breaks down those barriers for those individuals.
I've heard it too. It's annoying. Some months I get lucky and don't need to pay any taxes. There's a silver lining to every cloud after all.😏
Now when I tell people they get the biggest discount via BTC, they can easily get it. Or when they ask if I take cash app I can say "no, but you can pay with Bitcoin via Cash app and get a (slightly lower) BTC discount." Orange pilling is about to boom exponentially.
Bypassing legacy payment rails 🚀🚀🚀
This is even bigger than the Square news this week, and that was the biggest thing to happen for bitcoin adoption this year.
So they added nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 like functionality?
Yes. Rolling out tomorrow according to that post.
I love the feature in Strike, but compare cashapp user base of the two services to understand how huge this is.
#V4V artists and creators, imagine what this means for you?
You don’t even need dollars in your cashapp, you can just connect a debit card and process through there. Really cool way to pay w/ btc and avoid the taxable event
Perhaps I'm mid curving this but I don't understand the significance of this. Who is gonna pay a bitcoin invoice that doesn't already have sats?
every person who uses cash app and every merchant who wants to save on fees and enjoy instant settlement.
credit card companies dealt a death blow this week. expect the wartime atrocities to intensify
🙄
the payments are going over the bitcoin network. That is enormous news. Don't let the "dollars" on either end discourage you.
Bitcoin's success has to come from both ends and meet in the middle:
[best money for individuals to stack and hold] | [best money for settlement and transfer].
In truth, it's one coherent thing that will ultimately be unified, but chronologically the incremental adoption chunks it up into different value propositions like that.
It won’t succeed
what won't, in what way?
If you mean "people just won't use it", I agree that is a definite possibility. If you mean "bitcoin as payment rails won't succeed" then we're pretty far apart and I'd like to hear your reasoning.
normies are coming
ok but for the customer, what is the actual use case. the customer doesnt pay fees when using a credit/debit card. the target audience of this feature is people who understand bitcoin but dont want to pay with it, paying a merchant who primarily wants to accept bitcoin. what's the addressable market? a few thousand people, maybe?
- merchants may offer incentives to customers to use this payment method as it saves them credit card processing fees
- some customers might enjoy the ideological appeal of sticking it to the credit card companies (I dunno, run a No Kings day promo)
- yes, people who understand bitcoin but don't want to pay with it
- other ideas that you and I haven't come up with yet because that's how progress works - in layers, as new raw materials for creativity are added, and its always a good thing to have more options for future entrepreneurs (have some humility; do you think you and I have literally all the ideas forever?)
I don't know what the addressable market is, but I do know that each of those bullets increases it, anything more than "zero" is a net positive for ME, and Square/CashApp must have an estimate that is a **lot** more than "zero" in order to have a net positive for THEM.
simply, i see no way to be anything but optimistic about this development.
Unless something like "super easy UX for non-totally-pure-bitcoin use cases will actually harm pure bitcoin adoption". I am somewhat sympathetic to that angle, but I don't see you going that direction here so I'm leaving it out.
Also, many customers _do_ pay fees, because many merchants build in the credit card fee into their prices.
Just because they aren't aware of the fee doesn't mean they wouldn't enjoy the lower price if they choose a better payment rail.
The means it just got a lot easier for a vendor to only accept payment in bitcoin. Let’s go.
When I read Cash App, my brain goes “the motherfucking caaaaaaash aaaaaap” in nostr:nprofile1qqsywt6ypu57lxtwj2scdwxnyrl3sry9typcstje65x7rw9a2e5nq8spz3mhxue69uhhyetvv9ujuerpd46hxtnfduq32amnwvaz7tm9v3jkutnwdaehgu3wd3skueqkl0quk voice
nostr:nprofile1qqsqa6p85dhghvx0cjpu7xrj0qgc939pd3v2ew36uttmz40qxu8f8wq8vdeta I'm a little confused. How does this work? Where do the Bitcoin/Sats come from if the buyer doesn't have any Bitcoin/Sats in their Cash App?
cash app converts your usd balance to bitcoin on the fly via their liquidity pools and sends it over the lightning network when you scan and pay an invoice. no need to buy or hold btc yourself—the sats come from cash app's internal reserves, and they deduct the equivalent usd (plus fees) from your account.
cash.app/help/6506-lightning
nostr:nprofile1qqsqa6p85dhghvx0cjpu7xrj0qgc939pd3v2ew36uttmz40qxu8f8wq8vdeta And how much are the fees?
cash app charges little to no fees for lightning network payments, as it's built for fast, low-cost bitcoin transfers—typically just pennies or free depending on network conditions.
cash.app/help/us/en-us/6506-lightning
More compliance tech!!!! So good for Bitcoin!!!!
When Australia? nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgspp4mhxue69uhkummn9ekx7mqpxdmhxue69uhkuamr9ec8y6tdv9kzumn9wshkz7tkdfkx26tvd4urqctvxa4ryur3wsergut9vsch5dmp8pese6nj96 Any plans to rollout?