Replies (48)
Awesome :-)
this is much needed 🙏
bigger news than steak ‘n shake
This is fantastic. Thank you for creating this. I use Square for my music business activities and can’t wait to have this as part of my workflow in my Square account. 🫂🚀
Bitcoin on by default is AWESOME. Makes all the difference.
Does "all sellers" mean all Canadian sellers as well
@jack?
I am living in future. Thanks for building it - everyone of you 🙌🏼
Bitcoin is money 💫☀️
Well shit. 🚀🚀🚀
jack
it will be on by default for all sellers, allowing people to pay however they want, and sellers will never miss a sale.
by default it will auto-convert to fiat, and sellers can switch that to holding the bitcoin instead. i hope most do that. but they can also use our reserves feature to convert a percentage of incoming sales to bitcoin.
View quoted note →
What countries will it launch in? All at once or USA only, or something else?
Impressive. Very nice.
This is a very cool feature set.
Great! Bravo for this, amazing achievement! Thanks also for everything you do!
.
@jack & co. achieving what we originally aimed to at
@OpenNode .
Happy to see this torch being picked up and carried! 🙏
View quoted note →⚡️
Are the transactions done over lightning or onchain?
Sounds great. It’s better that there is no default and that at each transaction a person can choose to keep Bitcoin or to exchange it to another currency by a simple yes or no alert.
Will there be an instruction video? I expect it will be us teaching sellers how they can accept lightning, rather than them reading through documentation
Would the lightning QR code be next to the Cash app pay QR code on the square terminal? Love using cash app pay so I’m just curious how it’ll look at checkout
yuuuuuuuge
@jack So it is lightning, then how is the auto convert managed?
Will square be doing auto-swaps to on-chain then converting to fiat?
Will fees related to fiat converting come out of the merchants end or will be person paying with bitcoin have to cover those fees?
How will converting to fiat impact merchants tax reporting? Will they now need to worry about capital gains/losses?
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ON BY DEFAULT.
WE ARE LIVING THROUGH HYPERBITCOINIZATION.
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You’re also introducing risk to a lot of businesses. Stealing cash out of the register is often not worth it. Stealing bitcoin though…. Wrench attacks are a lucrative business
Can a biz connect their own node/electrum server?
Will Square provide “We Accept Bitcoin” stickers? Or “We Prefer Bitcoin”?
Ok… *off to find Square* is this something I can use in New Zealand?
Very cool! LFG
Orange pilling tens of thousands of merchants has been reduced to a simple flip of a switch.
Game fucking on.
View quoted note →awesome. Bitcoin will arrive much faster than people can imagine
Massive
thank you for sharing
Nevermind, already answered. That's huge 🙏
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will it be available globally?
Good idea.
I can't recall when I last saw a Square terminal (it may just be less apparent now), but this is how the Bitcoin adoption problem is solved at the merchant level. Just give it to them with no requirements on their end if they want to remain on a fiat standard. Win-win.
Removing the bullshit tax and KYC requirements (I don't care to hear how you ignore them - cool) would be game over. There would be practically no hangups left for most people. Just choose your wallet and go.
jack
it will be on by default for all sellers, allowing people to pay however they want, and sellers will never miss a sale.
by default it will auto-convert to fiat, and sellers can switch that to holding the bitcoin instead. i hope most do that. but they can also use our reserves feature to convert a percentage of incoming sales to bitcoin.
View quoted note →
Truly a ground shift for merchants and #bitcoin adoption. When/what version should square terminals in the US be able to see the functionality?
what will be the TXN cost for the conversion to fiat. is it a better deal than the 3% fee from the major card companies?
I love that small biz can easily get into a btc treasury using this.
jack
it will be on by default for all sellers, allowing people to pay however they want, and sellers will never miss a sale.
by default it will auto-convert to fiat, and sellers can switch that to holding the bitcoin instead. i hope most do that. but they can also use our reserves feature to convert a percentage of incoming sales to bitcoin.
View quoted note →
“allowing people to pay however they want, and sellers will never miss a sale.”
This is to help sellers solve problems,and Solve the pain points.
I saw Americans use Alipay's payment method on McDonald's self-order kiosk(自助点单机） in China, and then it shows that it is a US dollar deduction, which is auto-conver into US dollars.
but McDonald's price is marked by Yuan（RMB)人民币.
Foreigners will deduct Fiat, and the backstage will automatically change to the customer's Fiat deduction.
Although Americans use Alipay payment methods, they pay in US dollars.
This is correct. Merchants need stable currency as cash flow. This can ensure the stability of purchases and profits. Storing part of the profit in Bitcoin is a great feature.
You are not helping by promoting conversion of BTC to funbux
But you know that already
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Well executed. Jack is the GOAT 🙌
Must be nice not to have a psychotic stalker
Serial killer
