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i think yodl's brilliant point is that by saving the merchant their credit card transaction fee, you're essentially tipping them. or every credit card customer is anti-tipping, same thing

I'm still a bit lost on details, but there's a bit more to it. Will reread later, but fyi. Also they're actively running some incentives for now and a year or two to come, so not sure where that fits in. Good stuff regardless View quoted note →

when the incentives end and the processors want to charge fees again, then we begin another long cycle of education and adoption for customers and merchants to use base layer lightning to cut the processor out of the loop. this week proves (assuming this bears out successfully) that the pattern is possible.

Then it should come down to the fundamental properties I'd imagine (won't bore you with list). And I assume the equilibrium middleman fees will fall well below where it is now with CCs

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

normies are coming

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.

The vast majority of people won’t use it. It will return to background where it was when it’s perceived value is small.

well, i've timestamped your prediction and set a calendar event to come back to it in 6 months and a year. ttyl!

💯

Indeed. It’s been my favorite Strike feature since I started using them. I’ve been hoping cashapp would add it. MUCH larger user base than Strike, so it will be great for adoption.