CD189: MONEYBADGER - BITCOIN PAYMENTS IN SOUTH AFRICA
Carel van Wyk is the founder and CEO of MoneyBadger. MoneyBadger enables easy bitcoin payments at 650 thousand stores in South Africa.
- @MoneyBadger
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Great rip, you asked for comments so here’s mine. The more I listen the more I learn. When Odell talks I listen.
Loved the @Cash App QR code idea, easy way to show my normy friends #bitcoin out in the wild
Fantastic conversation!
You're absolutely correct about being pragmatic and meeting people where there at. However, long term, to get people to want to spend bitcoin, we have to move beyond building bridges to fiat payment rails.
Bitcoin has already demonstrated that it's a superior money for savings. Bitcoin can also be a superior money for payments - but not while relying on an underlying inferior fiat foundation. Until the payment rails are in place to use Bitcoin as the superior money for payments that it is, we shouldn't be expecting people to want to spend bitcoin.
We built a wallet that gives merchants tools to incentivize Bitcoin payments. Consumers just need a push and Bitcoin will naturally evolve into a medium of exchange.
except for a small community of autists,
nobody wants to spend Bitcoin at all. even if it's convenient.
Yes, and those earning it.
Many of the problems come from the fact that peoples liabilities are in fiat so price movement affects their bottom line. Youre essentially asking them to be traders.
Hopefully as bitcoin goes up volatility continues to drop and its less of an issue. Maybe insurance companies or something akin to an option could smooth it out and make operations cleaner.
That's correct. However, as Block is already demonstrating with Square/Cashapp, bitcoin payment rails doesn't have to mean that payers and payees necessarily have to ever even know that their fiat payments were transmitted as Bitcoin.
What I'm asking for is that the payment rails be via decentralized, permissionless, more cost-efficient Bitcoin - with voluntary usage of services that offer bridges from/to fiat (e.g. cashapp, square, etc) for those who just don't want to hold bitcoin due to volatility (or any other reason), rather than reinfocing the backwards status quo of the other way around.
PS. I do think bitcoin volatility will continue to drop, but I personally don't believe it will ever be as stable as the U.S. dollar is now, for example... After all, it's way easier for a centralized authority to manage a slow leak of value in the dollar than it ever will be for a free market to stabilize the exchange rate of Bitcoin.
Yes exactly. I thought it was such a huge win letting business operators choose their currency exposure while still benefitting from censorship resistance and lower fees.
I'd spend it if I didn't have to calculate cost basis on every little transaction...and no normal will either.
Fair point.
Solving each of theses issues (and there are likely others) is necessary but not individually sufficient to provide a universal incentive to spend.
smart people stack kyc free
then you dont have to be a slave to cost basis bs
sorry you were not smart
perhaps you can do better in future
What a great rip! 💪
Proud of see what @MoneyBadger is doing in South Africa! 🇿🇦
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The Bitcoin White Paper is very clear about it -- Bitcoin is money. Getting there… Great interview, npub10atn74wcwh8gahzj3m0cy22fl54tn7wxtkg55spz2e3mpf5hhcrs4602w3 & npub1y0fv5l5ehzcqmh7esgtltvgjp30lxnt08shmqdcnmzrwl3v2mnsswgm5py
#abct26 #SPEDN #Bitcoin #BTC #Sats #Money #hodl #freedom #citadeldispatch #southafrica #africa
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#abct26 #SPEDN #Bitcoin #BTC #Sats #Money #hodl #freedom #citadeldispatch #southafrica #africa
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This one started with a BANGER!
npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx : “I’m not on Youtube anymore. Fuck Youtube!”
Excellent!
(The rest of the episode is very good too.)
Bitcoin podcasters, notice the new trend -- it is #NostrOnly.
#Youtube #podcasts #Bitcoin #BTC #Nostr
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CITADEL DISPATCH
CD189: MONEYBADGER - BITCOIN PAYMENTS IN SOUTH AFRICA Carel van Wyk is the founder and CEO of MoneyBadger. MoneyBadger enables easy bitcoi...
I’m from Port Elizabeth, South Africa, and the Money Badger app allowed me to pay for breakfast in Bitcoin from a small independent shop that probably has no idea how it works, or that it’s even happening.
Seamlessly and without any confusion from anyone.
It’s really fantastic what @MoneyBadger has done. Flippen lekker my oaks!
Thank you for this @ODELL , it’s good to hear South African progress.
Thanks for the Citadel bump, @ODELL. The @MoneyBadger team certainly deserves it for enabling many of us to live on Bitcoin.
Sure, merchants don't necessarily know that payment is made with Bitcoin (until we tell them), but this is creating demand and increasing activity. It also makes it easier to orange pill merchants: "You're already accepting Bitcoin payments, why not do it without paying the payment provider fee?"
MoneyBadger is a game changer! 🧡🦡