@apa_nft I have 4 APAs and I missed the gal mint because of personal life stuff that kept me busy. Is there any way to reverse this? Ahhhh. I'm so sad.
@brianboland @APompliano Merchants are pretty good at influencing consumer behavior through rewards and incentives. That’s where the push will come. Think about preloading your Starbucks app. SBUX absolutely did that to reduce card fees. It worked on me + many others.
@EricTroia21 You can do that with this though - you can use your fiat balance from Cash App to pay. That’s what he was saying. You have different options. Can pay with cash with an app that supports QR codes, OR with bitcoin.
Jack Mallers bitcoin announcement. People saying "but I get 2% cashback using my credit card" are crazy blind to the fact that the cashback is a bribe. There isn't some company giving away cash out of the goodness of its heart... 1/?
@wiredcoach@APompliano Right. You don't have to pay in bitcoin. Customer can pay in cash. Strike converts it bitcoin to transfer it via bitcoin network, then back to cash for the merchant.
Jack Mallers bitcoin announcement. People saying "but I get 2% cashback using my credit card" are crazy blind to the fact that the cashback is a bribe. There isn't some company giving away cash out of the goodness of its heart... 1/?
@allisknu11 @MatthewHyland_ Mallers explained how customers can use cash too. It connects to Cash App. The cash is converted to bitcoin just so that it travels via bitcoin network. Then it goes back to cash for the merchant. Everybody wins.
@brianboland @APompliano Many do! When I had an apartment, if I wanted to use my credit card instead of check, my building management company charged me an extra fee. But writing a check at McDonald's isn't exactly an option, right? So McDonald's factors the cc fees into its prices. Not rocket science.
It's not cost-less. If everyone has to pay with a credit card to buy goods & services, guess what? Those goods & services are more expensive! So that cashback *some* people with excellent credit scores get is like being robbed of $10 and then the robber gives you $.50 back. 3/3
There are banks and card networks (Visa, Mastercard, AmEx) making a KILLING on being middlemen and draining merchants of their revenues. They give SOME of it back to consumers so that consumers *happily* pay with a credit card... 2/?
@WClicked@metapata @nonsensecamp @APompliano No -- point is that BOTH the customer and merchant use $$$. Strike converts the $$$ to bitcoin so that it travels on the bitcoin network. But both sides can use dollars.
@brianboland @APompliano Not only will prices improve, but more merchants can stay in business bc margins won't be so tight. Can hire more employees, or spend more money on product development. If this actually gets adopted it could be transformative. Remember 3% of revenue is a lot higher % of profit.
@brianboland @APompliano Immediate benefit is not having to deal with the frustration of trad banks just to pay electronically at a store. But bigger transformation is on merchant side. When merchants aren't paying 3% of gross REVENUE (ie a higher % of profit) to a card network, prices will improve.
Dear APA fam' today's door bears a TRIPLE giveaway 🎅🏻🎄
Every APA needs a cosy home @AvalancheHomes🏡, during this season a snowmen should decorate the front garden w/ @SavageSnowmen⛄️ and for the extra adrenaline we go for a race with @DcrcAvax🏎.
Who is in?
RT, APA only🔺