$ (BTC) The Bitcoin Thread - NO SHITCOINERS ALLOWED


Visa is piloting a suite of application programming interfaces (APIs) that will allow banks to offer bitcoin services, the payments giant announced Wednesday.

The Visa Crypto APIs pilot program will let clients “easily connect into the infrastructure provided by Visa’s partner, Anchorage, a federally chartered digital asset bank, to allow their customers to buy and sell digital assets such as Bitcoin as an investment within their existing consumer experiences,” Visa said in a press statement.

Visa envisions a product set that extends to other cryptocurrencies and stablecoins as well as other crypto services such as trading, Visa crypto lead Cuy Sheffield told CoinDesk in an interview. Digital bank First Boulevard is the first bank involved in the pilot; Visa has issued a waitlist for other banks.

Previously, Visa had been focused on helping crypto companies issue bank cards and has partnered with 35 crypto firms to date, but this is the first time the company has offered crypto services to banks.

Last week, Visa CEO Al Kelly said in an earnings call that stablecoins could be used for “global commerce,” adding, “to the extent a specific digital currency becomes a recognized means of exchange, there’s no reason why we cannot add it to our network.”
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Just in case you thought we weren't going to 100k this year.
 
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AnOminous said:
That doesn't mean it's a failure so much as it's succeeded in being something different than it was intended to be.
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What’s missing maybe just now is ease of use. To be a good ‘money’ all you really need is durability, portability, everyone to agree on what it is, and Bitcoin is all that. But the other thing you need is ease of exchange. A physical coin or note is physically easy to pass. Electronic money needed the development of cards, debit and credit cards, and all the little bits of tech like swipe thingies at tills etc to make it ‘easy.’ Now in some countries the electronic stuff is easier than the physical (places like Sweden you can go years without holding cash.) think how it was 25 years ago, where not many little shops took cards, now everywhere does.
All that stuff, the infra structure of daily use, was developed by or closely with banks /payment provider types though - and that’s what Bitcoin and other crypto lack now. The infrastructure to pass to each other easily for simple transactions like getting on the bus or buying a pint of milk. Once that’s cracked, and it will be, the banks lose their host. Then I guess all hell breaks loose.
 
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Otterly said:
All that stuff, the infra structure of daily use, was developed by or closely with banks /payment provider types though - and that’s what Bitcoin and other crypto lack now. The infrastructure to pass to each other easily for simple transactions like getting on the bus or buying a pint of milk. Once that’s cracked, and it will be, the banks lose their host. Then I guess all hell breaks loose.
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The Ethereum-based tokens are getting pretty close to that but unfortunately the Ethereum network itself is choking to death on them. I don't know if Eth2 is going to fix this but they're trying.
 
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AnOminous said:
The Ethereum-based tokens are getting pretty close to that but unfortunately the Ethereum network itself is choking to death on them. I don't know if Eth2 is going to fix this but they're trying.
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The lightning network is supposed to do something like that, but it's somewhat fragile in it's current state, so there's not all that much liquidity from point-to-point because of the risk. They are apparently trying to set up "eltoo" channels that don't collapse on the first sign of disagreement, but it's not there yet. I could buy sandwiches from you if we set up a direct or low-hop-count connection (requiring some fee-paying normal Bitcoin transactions to set up), but exchanges and other market makers would need to have enough trust in it to provide lots of liquidity for it to work well.
 
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Otterly said:
What’s missing maybe just now is ease of use. To be a good ‘money’ all you really need is durability, portability, everyone to agree on what it is, and Bitcoin is all that. But the other thing you need is ease of exchange. A physical coin or note is physically easy to pass. Electronic money needed the development of cards, debit and credit cards, and all the little bits of tech like swipe thingies at tills etc to make it ‘easy.’ Now in some countries the electronic stuff is easier than the physical (places like Sweden you can go years without holding cash.) think how it was 25 years ago, where not many little shops took cards, now everywhere does.
All that stuff, the infra structure of daily use, was developed by or closely with banks /payment provider types though - and that’s what Bitcoin and other crypto lack now. The infrastructure to pass to each other easily for simple transactions like getting on the bus or buying a pint of milk. Once that’s cracked, and it will be, the banks lose their host. Then I guess all hell breaks loose.
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Lots of places in America still don’t take cards. That’s why Bitcoin will take longer to take off here, unless there’s some easy way to go to an ATM and turn your bitcoin into hard fiat. Can’t get a pint with bitcoin when you can’t even get one with MasterCard.
 
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If you are just going pay with fiat why pay with Bitcoin in the first place.

It's like.

cd3.png
 
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Bitcoin cash(BCH) has very low transaction fees. Seems like a more realistic approach to retail sector than bitcoin(BTC) where the transaction times and fees are super high.
Both do have their place in the crypto sphere imo
 
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You might want to look into Flexa/AMP. Their tech allows you to pay with crypto using their token (AMP) as collateral until the transaction clears. They're partnered with NCR (the company that makes POS systems) and I've heard a few big chains have already adopted it. Supposedly widespread support on NCR POS systems is as easy as a firmware upgrade.
 
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I feel like Bitcoin's price will go back to what it was before because Elon's whole thing with Dogecoin only made it go up for a few days and then sink back to around 5 times its value prior to Elon promoting it, and I don't think that's going to be possible for Bitcoin to achieve. Or maybe I'm just wrong?
 
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IDontKnow902 said:
I feel like Bitcoin's price will go back to what it was before because Elon's whole thing with Dogecoin only made it go up for a few days and then sink back to around 5 times its value prior to Elon promoting it, and I don't think that's going to be possible for Bitcoin to achieve. Or maybe I'm just wrong?
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If Musk had been buying up Bitcoin at spot prices over the last couple of months then he's probably responsible for the price rocketing.
 
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Is the $1.5 billion injection from Tesla really enough to raise the price of bitcoin by $4,000 when the market cap is $870 billion (minus $1.5 billion I guess) and 18.6 million coins exist?
 
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