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Looks like they're going for using ₿ as the denomination for sats.
I wonder if we end up using different terms for the same thing. Bitcoins, bits, sats. We call our fiat different things too. Dollars, bucks, or pounds and quids, and more slang locally depending where you live.
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I hope not
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When gangsta rappers rap about how much bitcoin they have, what new slang will there be? What is the bitcoin equivalent of "racks", "bands" and "Gs" ? :P
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25 sats \ 1 reply \ @Catcher 27 May
Maybe dust?) like - have some dust, dawg?
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ay yo, zap me a line bro
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23 sats \ 0 replies \ @ek 23h
There is corn because of Professor Bitcorn.
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Block expects to begin offering bitcoin payments to eligible Square sellers later this year, with full availability targeted for 2026, pending regulatory approval
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How can you reasonably expect regulatory approval when virtually none of the spenders will be compliant with current tax law obligations?
MoE use of Bitcoin/LN requires extraordinary recording and tax calculations which render it effectively impractical to achieve in a legally compliant manner.
This is no accident- it is the fiat operators protecting their invaluable MoE hegemony. This is the sly obstruction of bitcoin MoE adoption.
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They can start with Europe;)
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Are capital gains on Bitcoin not taxed in Europe?
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There are nuances, depends on the country, holding period, total amount you sold, etc. I’ve talked to tax consultant recently and she told me it’s such a grey area, that for now it’s mostly ignored, unless you are transacting in hundreds of thousands.
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So they 'allow' small traders to operate under the radar but any larger retailer is going to have accountants/tax consultants who will advise that while the retailer itself may not be breaching tax law, as long as they convert immediately upon transaction to fiat, their customers mostly will not likely be recording, reporting and paying the tax due on their purchases. The retailer thus could risk being identified as enabling/association with tax evasion by its customers. Most large retailers will run a mile from taking such a risk of association with tax code violation. The whole thing is slyly intended to 'discourage' (obstruct) adoption by retailers by making legally compliant retail level MoE use of Bitcoin effectively impractical.
Great observation
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That is why most retailers will choose immediate conversion to fiat
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10 sats \ 3 replies \ @Car 27 May
Why would I use this if I have Zaprite already as a business with way better options at the terminal?
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I feel like this isn't aimed at businesses that actually have a good knowledge of btc, but typical Square businesses -- the coffeeshops that use their terminals already because it's easy and low-maintenance, so it'll add another way for customers to pay, but won't appreciable change the experience for the retailer (up to and including getting them interested in btc).
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37 sats \ 0 replies \ @Car 22h
I hear your points and I think they are valid and understandable especially since they started as a fiat company but they are also thinking from a top-down perspective and approaching it as a payment option into its fiat payment system.
Thinking from bottom-up, I believe we’re entering a phase where being Bitcoin-native really starts to matter. It’s not just about accepting Bitcoin as one of many options—it’s about building where Bitcoin is the default out of the 📦 solution and the fiat option becomes the modular component. What I’m paying for isn’t just convenience; it’s domain expertise that’s rooted in Bitcoin, not fiat. This will matter more and more as the ecosystem matures.
I think when this happens most of these fiat options will cease to exist and I would not want to be tied to a company that has that many liabilities.
shooting from the hip
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10 sats \ 0 replies \ @ChrisS 22h
Yes this is my read too. I go to a local farmers market where almost every seller has square so this will be great for me to be able to buy things with lightning.
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I hope the terminals enable Bitcoin payments by default. If the merchant has to manually enable Bitcoin/Lightning payments I doubt we'll see much traction for some time.
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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.
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🙌 Excellent!
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188 sats \ 0 replies \ @k00b 27 May
I feel like they've been teasing this for years. Hopefully it's real this time.
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10 sats \ 1 reply \ @nout 27 May
Is anyone at Bitcoin Conf and able to film the experience?
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77 sats \ 0 replies \ @k00b 27 May
I'll try to find it tomorrow, but I'd guess we'll see it on X sooner than I can get it.
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126 sats \ 0 replies \ @topsecret 21h
Basically the same announcement that Jack Mallers made three years ago, that it was "coming soon" on some other brand of widely used terminal, then lo and behold never did. Better to make these announcements when it's present tense, not future.
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BitcoinScoresby = jack?
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Totally
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Nah, it grabbed the URL from my repost when I copied it.
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0 sats \ 0 replies \ @ken 2h
This is huge.
Merchants should give the credit card fees back to the customer, to further show off payment efficiency
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POV: me walking into Dunkin Donuts to pay with Lightning
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This pleases me very much.
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