Cash App & Square roll out Bitcoin payments at 4M+ merchants. Jack Dorsey leverages Lightning Network to compete with Visa/credit card fees. Plus: the controversial Bitcoin denomination change that's dividing the community.
We break down Jack Dorsey's massive Bitcoin rollout across Cash App and Square—4M merchants can now accept BTC payments via Lightning and mainnet. We explore how Bitcoin rails are undercutting Visa/Amex fees, the Strike-style settlement strategy, and the controversial BIP 177 denomination debate.
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**Notes:**
• 4M Square merchants now accept Bitcoin payments
• Credit card fees range from 2-6% per transaction
• Cash App uses Lightning Network for settlements
• BIP 177 proposes renaming Satoshis to Bitcoins
• 100M Satoshis equal one Bitcoin
• Jack Dorsey owns Block, Square, and Cash App
Timestamps:
00:00 Start
00:46 CashApp & Square updates overview
03:52 Bitcoin rails
09:36 Network effects
13:59 150 features
21:08 Bits are BACK
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