Bitcoin may soon be accepted by McDonald’s, Walmart via Lightning Network, Mallers says

[aociswundumho]

Bitcoin may soon be accepted by McDonald's, Walmart via Lightning Network, Mallers says

Jack Mallers announced in Miami that Bitcoin will be available via the Lightning Network to over 400,000 storefronts and US Shopify sites.

cryptoslate.com

According to Mallers, any website that uses Shopify online card transactions can now process payments using Bitcoin’s Lightning Network. The partnership is live right now and a massive step toward the mass adoption of Bitcoin.

“Any online merchant that uses Shopify can accept payments without the 1949 boomer network, receive it instantly, cash final, no intermediary no 3% fee”

During the presentation, a slide appeared listing some of the biggest retailers in America, including McDonald’s, Walmart, Home Depot, and Best Buy. According to their websites, Blackhawk and NCR also serve Starbucks, Chipotle, El Corte Ingles, Lowe’s, Staples, Woolworths, and thousands of other global retailers.

This could be huge. There is a very strong financial incentive for everyone to use crypto, as it benefits both buyers and sellers. If you are paid in crypto, and you can buy what you need with crypto, then there is no reason to ever convert back to fiat, and that is the goal.

 

[craig]

Bitcoin may soon be accepted by McDonald's, Walmart via Lightning Network, Mallers says

Jack Mallers announced in Miami that Bitcoin will be available via the Lightning Network to over 400,000 storefronts and US Shopify sites.

cryptoslate.com

This could be huge. There is a very strong financial incentive for everyone to use crypto, as it benefits both buyers and sellers. If you are paid in crypto, and you can buy what you need with crypto, then there is no reason to ever convert back to fiat, and that is the goal.

Like a money order?

 

[Crovax]

"you can expect a Bitcoin transaction to take anywhere from 10 minutes to an hour to finalize. "

How Long Does A Bitcoin Transaction Take? Common Bitcoin Questions

Bitcoin transactions can be finalized in as few as 10 minutes. However, this time can vary greatly. Click here to learn the reasons why.

blog.coinsource.net

Note its only this fast because bitcoin isn't used often, if mcdonalds and walmart used bitcoin this could shoot up to hours and your Big Mac might cost you $1.50 or $7 depending on the price fluctuation in between.

 

[Nomad4Ever]

then there is no reason to ever convert back to fiat

Taxes

 

[ecofarm]

Pathetic salesmanship for idiots. My products may soon be available at Walmart and other major retailers, so make sure to invest at eco.kissmyassyou****ingidiot.com

 

[ecofarm]

Who the **** doesn't understand that bitcoin is a fiat currency. Jesus ****ing Christ.

 

[craig]

Pathetic salesmanship for idiots. My products may soon be available at Walmart and other major retailers, so make sure to invest at eco.kissmyassyou****ingidiot.com

Is that a Trump co?

 

[ecofarm]

Is that a Trump co?

It's endorsed by Trump. So fork it over, Trumpers.

 

[aociswundumho]

Taxes

That's true, but with mass adoption of crypto, widespread tax evasion will take place on a scale never before seen.

 

[ecofarm]

That's true, but with mass adoption of crypto, widespread tax evasion will take place on a scale never before seen.

Most tax evasion is property and income not sales. Sales tax evasion isn't really a thing.

 

[Nomad4Ever]

That's true, but with mass adoption of crypto, widespread tax evasion will take place on a scale never before seen.

That's incredibly optimistic. The government would sooner nuke internet services than allow that to happen.

 

[aociswundumho]

"you can expect a Bitcoin transaction to take anywhere from 10 minutes to an hour to finalize. "

This is a problem the lightening network addresses.

How Long Does A Bitcoin Transaction Take? Common Bitcoin Questions

Bitcoin transactions can be finalized in as few as 10 minutes. However, this time can vary greatly. Click here to learn the reasons why.

blog.coinsource.net

Note its only this fast because bitcoin isn't used often, if mcdonalds and walmart used bitcoin this could shoot up to hours and your Big Mac might cost you $1.50 or $7 depending on the price fluctuation in between.

All of the problems with crypto (and there are many) are engineering problems and they will all be solved over time.

 

[ecofarm]

Maybe we can make this a learning experience. Let's explore the misconception that results in someone believing bitcoin is not a fiat currency. Is it merely ignorance? A vastly stupid misreading? What caused the brain fart. What didn't digest properly. Does he think fiat refers to a car?

 

[aociswundumho]

That's incredibly optimistic. The government would sooner nuke internet services than allow that to happen.

They could shut down the internet, but they absolutely will not. The cat is already out of the proverbial bag and it ain't going back in.

 

[EdwinWillers]

Most tax evasion is property and income not sales. Sales tax evasion isn't really a thing.

Not entirely true - black markets are fundamentally evasions from sales taxes.

 

[EdwinWillers]

Who the **** doesn't understand that bitcoin is a fiat currency. Jesus ****ing Christ.

It is in fact the fiat currency of fiat currencies.

 

[ecofarm]

Not entirely true - black markets are fundamentally evasions from sales taxes.

No, they are fundamentally where one buys banned products. A lack of sales tax is incidental not driving.

 

[multivita-man]

Who the **** doesn't understand that bitcoin is a fiat currency. Jesus ****ing Christ.

NO! NO! NO! It's a HEDGE against HYPERINFLATION! ZOMG! Vote Dr. RON PAUL 2024, 2028, 2032, 2076!!!!

 

[EdwinWillers]

No, they are fundamentally where one buys banned products. A lack of sales tax is incidental not driving.

Look, we're in basic agreement here and I'm not going to argue this point with you, but "black markets" are more than markets of banned products.

One of the major arguments against any consumption tax is in fact this - that it would drive some into the "black market" to sell their wares as a means to avoid paying sales tax. It's a means of tax avoidance.

 

[ecofarm]

Look, we're in basic agreement here and I'm not going to argue this point with you, but "black markets" are more than markets of banned products.

One of the major arguments against any consumption tax is in fact this - that it would drive some into the "black market" to sell their wares as a means to avoid paying sales tax. It's a means of tax avoidance.

If someone tells you they went to the black market to avoid sales tax, they are full of shit. They are moving illegal products.

 

[EdwinWillers]

No, they are fundamentally where one buys banned products. A lack of sales tax is incidental not driving.

If someone tells you they went to the black market to avoid sales tax, they are full of shit. They are moving illegal products.

No - I'm talking about the VENDORS, not the buyers. Sorry if I wasn't clear.

 

[ecofarm]

No - I'm talking about the VENDORS, not the buyers. Sorry if I wasn't clear.

People pay their plumber in cash. Same diff? Not significant tax evasion.

 

[EdwinWillers]

People pay their plumber in cash. Same diff? Not significant tax evasion.

It's precisely the same diff.

"Significant" is relative. Point is, more of that behavior would occur. That's all I'm saying.

 

[HangLow]

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