Stripe to Enable Millions of Merchants to Get Paid in Bitcoin

Ed48 said:
So, even if the investment performance was mediocre over the next few years, it wouldn't change your belief in it?

I'm sure quite a lot of people would lose faith if it stopped being a big NGU.
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I'm sure a lot of people will be shaken out as bitcoin goes down in price during this Bitcoin and cryptos bear market

I held through 2 bear market cycles in bitcoin (and cryptos)

I was unprepared during those times and lost all profits on the first bear market (-85% peak to trough bitcoin price)

Lost 90% of crypto portfolio value and net worth on the second bear market


  • This time around, I'd like to think I'm ready for this bear market no matter how low bitcoin price goes to or if this bear market lasts 5 years

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@johnarb How can I get my BTC into USD for my PayPal account and then I can pay on the internet like a normal person instead of a drug dealer ? Is this already possible ? It is 2022 they should be able to do it ? Why are they blocking something trivial like that ? Ever thought about that ????
 
Heydrrich said:
@johnarb How can I get my BTC into USD for my PayPal account and then I can pay on the internet like a normal person instead of a drug dealer ? Is this already possible ? It is 2022 they should be able to do it ? Why are they blocking something trivial like that ? Ever thought about that ????
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It's a PayPal issue

PayPal has not enabled cryptos withdrawal to outside wallets, yet. Robinhood may have already enabled it

Anyway, PayPal is great if you link it to a Coinbase account. You can transfer up to $15K instantly anytime or day

One time I was at a casino around midnight, transferred $ from Coinbase to PayPal and within 1 second of hitting send, it was in my PayPal account and used my PayPal ATM card to withdraw $ from the ATM
 
Swiss_cheese said:
It is a decentralized and immutable network. It can not be printed willy-nilly like FIAT. There is a high chance that at some point in the distant future, it could very well become the world reserve currency. Adoption takes time. If not Bitcoin, it will be another digital asset, yet to be created.
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As rudimentary as this might sound, I see a problem when you buy something with a Crypto. It would be like buying with a foreign currency. Even though the value of both USD and BTC fluctuate on a daily basis, I don't have to worry about using USD at a place where the product is marked in USD. For example, if I go to McDonalds, I would pay $5 for a burger today, tomorrow, and the next day until McDonalds raises the price. This would not be so for Crypto. It could be $5 today, $7 tomorrow, and who knows what the next day.

So why should I be paying for things in my own town as if I were a foreigner? That's too much trouble.
 
uh, and how about the tax implications of SELLING your BTC when you pay for something with it ?

No one mention this ?

IRS is your friend
 
schizo said:
As rudimentary as this might sound, I see a problem when you buy something with a Crypto. It would be like buying with a foreign currency. Even though the value of both USD and BTC fluctuate on a daily basis, I don't have to worry about using USD at a place where the product is marked in USD. For example, if I go to McDonalds, I would pay $5 for a burger today, tomorrow, and the next day until McDonalds raises the price. This would not be so for Crypto. It could be $5 today, $7 tomorrow, and who knows what the next day.

So why should I be paying for things in my own town as if I were a foreigner? That's too much trouble.
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I guess you did not like my answer so you replied to someone else
  • Being able to spend bitcoin is an option and not forced on anyone
I realize this is something that is not available with your other investments, i.e. if you own 1000 AMZN shares and wanted to impulse buy a Tag Heuer watch using 4.3 AMZN shares

But you have the choice if you own 0.31 btc to spend on the same watch

A correction, normal daily fluctuation of btc is 5% up/down, so the price difference of that $5 burger is a measly 25 cents, let's not exaggerate

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There's a few services that you'd want to use bitcoin as payment to preserve privacy i.e. VPN, VPS and prepaid cell phone (that's why I can't be hacked sim-swapped been on prepaid unlimited data and minutes for over 10 years with a fake name)

Also, something you'll never know until you use bitcoin as payment is the idea of instant settlement

Using a credit card drives my OCD to a high level, having to wait for the charge to show up and having to pay the balance several times a month so it's $0 balance for a few days unitl another charge shows up

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So just to say it again, Bitcoin is an investment asset that has many features. Look up my reply post to you

If you just want to buy Bitcoin low and sell Bitcoin high like other boring investments, i.e. AMZN shares, you can do that too
 
Pekelo said:
John, seriously, you should decide if you advocate for investment or currency. All these "adoptions" are not good for holding. Why don't you just stick to the hold it forever mantra?

And if you are just saying "oh they are only using it for just a few seconds", then what is the point? They may as well just use Doge....
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All these adoptions are good for holding an investment asset with many features, Pekelo

It makes BTC much more valuable, but I'm sure you already know that

  • Especially the killer app for Bitcoin as collateral

Imagine getting $100K in your bank to spend while waiting for the bull market without having to sell or spend your Bitcoins

Imagine being able to buy a house 100% backed by your Bitcoins on the next bull market when btc is worth $200K each without having to sell your Bitcoins
 
johnarb said:
Using a credit card drives my OCD to a high level, having to wait for the charge to show up and having to pay the balance several times a month so it's $0 balance for a few days unitl another charge shows up
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You can pay credit cards once per month.
 
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