Visa Plans to Enable Bitcoin Payments at 70M Merchants

Post by pier25 » Wed, Mar 17, 2021, 8:31 PM UTC

yumraj wrote: post #10

baby wrote: post #6

Why is everybody betting on bitcoin for payments when there are faster and more stable alternatives in the crypto space? I’m thinking that this is more about a proof of concept to get into the space.

1. FOMO 2. If everyone (read: the vocal but high profile minority) is talking about it, even though we don't understand it, there must be something to it. Everyone (read: the vocal but high profile minority) cannot be wrong. 3. There is no career downside of betting on this and it fails, since everyone else was betting on it. 4. There is a career downside to not betting on it and it is successful.

Post by thebean11 » Wed, Mar 17, 2021, 8:31 PM UTC

RyanShook wrote: post #4

Bitcoin transaction costs are very high so I’m assuming all these payment processor transactions will be off-chain. Do you think that having so many off-chain transactions that are essentially converting USD reduces the perceived value of BTC or raises it?

Post by beaner » Wed, Mar 17, 2021, 8:32 PM UTC

baby wrote: post #6

Why is everybody betting on bitcoin for payments when there are faster and more stable alternatives in the crypto space? I’m thinking that this is more about a proof of concept to get into the space.

Post by postalrat » Wed, Mar 17, 2021, 8:33 PM UTC

thebean11 wrote: post #13

RyanShook wrote: post #4

Bitcoin transaction costs are very high so I’m assuming all these payment processor transactions will be off-chain. Do you think that having so many off-chain transactions that are essentially converting USD reduces the perceived value of BTC or raises it?

Why would it reduce the value? Off-chain transactions are something the core Bitcoin team are very much in favor of.

Post by kevinak » Wed, Mar 17, 2021, 8:33 PM UTC

helen___keller wrote: post #5

What does this look like in practice? A "bitcoin debit card" tied to an exchange as your bank account?