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21 sats \ 8 replies \ @grayruby OP 4 Aug 2023 \ on: Block vs Coinbase bitcoin
My takeaways:
Block obviously charging large fees to buy bitcoin but bitcoiners don't seem to care.
Coinbase leaning into altcoins because all the true Bitcoiners left and only 38% of their revenue comes from Bitcoin now.
You can designate a percentage of a direct deposit to be converted to bitcoin without fees. Then you can transfer >100,000 sats with out fees on chain.
Block’s actual profit on that 2.6B is ~44M
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Thanks for the info. I can't use cash app here in the communist republic of Canada so good to know.
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I hear Bull Bitcoin is good up north
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Yes. It’s a good service and obviously bitcoin only aligned. I have used it but I mostly use Shakepay because of all the bitcoin rewards I can get.
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Coinbase keeps pushing shitcoin. For pure bitcoiners Cash App or Strike just makes more sense, but I will be curious how that'll change once Coinbase (finally) integrates the lightning network
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I’m not holding my breath and refuse to use the platform even if they DID integrate LN.
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1% fiat fee is not large
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Fair enough.
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