r/btc • u/Ronsonntag • 1d ago
💵 Adoption Jack Dorsi's Block just Released its first Ads Promoting Bitcoin as a Payment System
The system runs on the Lightning network and includes: CashApp for buying and receiving with Bitcoin, Bitkey for self custody, and Square for merchants to accept Bitcoin.
How do you think this will affect the criticism that the Bitcoin network is too slow for commerce and how do you think this will impact the price of Bitcoin?
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u/marshallxfogtown 15h ago
for people to use bitcoin for payments in the states the tax situation is going to have to change, no?
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u/Commercial-Tax-5119 1d ago
i mean its not like lightning is new, people been building on it for years and the criticism about speed is kinda outdated. the real issue was always getting merchants and regular people to actually use it. if block can make it seamless with square and cashapp that might finally push it past the "just hold it" phase
price wise who knows, crypto markets are a casino. but if more coffee shops start taking btc through square that would be a bigger deal than any ad campaign
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u/Bagmasterflash 1d ago
If Block went that route it’s easier and more beneficial to just custody the bitcoin and issue their own L2.
Don’t lie to yourself, base layer tx is the only real economic sovereignty.
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u/-Mediocrates- 18h ago
The problem w lightning (as I understand it) is users have to keep their nodes open with their own bitcoin sooooo … who wants to do that?
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u/DangerHighVoltage111 21h ago
LN failed. Every self custodial L2 on BTC will fail. That was and still is the goal behind the blocksize crippling. In the end all they will get are custodial solutions a second bank system like the dollar, just named different.
If he was genuine, he would build on and promote Bitcoin Cash, the working scaling Bitcoin.