"Our thesis is pretty simple: we can only make the case that bitcoin is everyday money if people can spend it. Unfortunately, for most of bitcoin's existence, there just haven't been many places to spend it. But then, something happened. Planets aligned, seas parted, nerds hooted and hollered from rooftops, and Block added support for bitcoin payments to millions of Square sellers, making bitcoin both ubiquitous and easy to activate. Suddenly, almost everyone is seconds away from accepting bitcoin payments."
"How we do this is more apparent and pragmatic than bitcoin tropes about digital scarcity and immutability, neither of which will convert someone running an ice cream shop. What will motivate small business owners to accept bitcoin payments is their bottom line. They're unlikely to be ideological; they're far more likely to be practical. And what's the most common problem in need of a practical solution faced by merchants that only bitcoin can solve in a digital-only world?"
Bitcoin can only be everyday money if people can spend it. For most of bitcoin's existence, few merchants accepted it. Block added bitcoin payments to millions of Square sellers, making acceptance ubiquitous and easy to activate. Merchant adoption depends on practical incentives rather than ideology. Small business owners prioritize their bottom line and respond to solutions that improve profits. Credit card fees and the disappearance of cash create a compelling use case for digital cash. With slim profit margins, typical merchant economics make high card fees harmful. Bitcoin positioned as digital cash can address fee costs and preserve merchant margins.
Read at Bitcoin Magazine
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