Damus
MT⚡️ profile picture
MT⚡️
@MT

Designing Bitcoin at Square and Block

Relays (14)
  • wss://relay.mostr.pub – read & write
  • wss://offchain.pub – read & write
  • ws://umbrel.local:4848 – read & write
  • wss://nostr.land – read & write
  • wss://nostr.wine – read & write
  • wss://relay.damus.io – read & write
  • wss://relay.snort.social – read & write
  • wss://puravida.nostr.land – read & write
  • wss://nostr.oxtr.dev – read & write
  • wss://eden.nostr.land – read & write
  • wss://nos.lol – read & write
  • wss://nwc.primal.net/ayvjleilmx0al7j2pqt24qed1z7a8s – read & write
  • wss://relay.nos.social – read & write
  • wss://relay.primal.net – read & write

Recent Notes

nout · 28w
nostr:nprofile1qqsfsv23xtt2hr87gp8n4qzxhqek64zlzj2tzcakae4x8yw94mpy3jgpzemhxue69uhhyetvv9ujumt0wd68ytnsw43z7qgnwaehxw309ahkvenrdpskjm3wwp6kytcpz9mhxue69uhkummnw3ezumrpdejz70th996, what would help the ...
MT⚡️ profile picture
You’ll need to get in touch with the owner. It’s a sensitive process from a legal/compliance/regulatory pov. But once they decide to turn it on it only takes a minute.

I would lead with the basics:

1. Zero processing fees until 2027
2. Never miss a sale. An emergent way for customers to pay
3. Instant, no chargebacks, and can be settled in USD so its business as usual
4. They can order a free marketing kit from the Square shop and update their window stickers and table tents
paul keating · 28w
I saw a post or tweet about a map? Does this exist somewhere already? Looking to help make some Bitcoin noise on launch day. I'll be in san Diego or Kauai.
MT⚡️ profile picture
Not yet but very soon. We partnered with btcmap.org so Square businesses with bitcoin payments can opt in to display on the map.

We also built it directly in Cash App so it has a fully integrated discover/navigate/pay experience.

You’ll be able to find it in the bitcoin applet by Nov. 10 (official payments launch day)
MT⚡️ profile picture
I need to buy a gift from lightning.store but the site is down. Anyone know how to contact him? Can’t find on here anymore and his bird app is deleted 🥀
2
NotBiebs and 69 others · 29w
nostr:npub1ltvqkaz3kqlksm7eujrmqkmfcpxgpr3x58dk2hjeur3fdfwf7nws8szhw6
Dominic · 29w
Good luck man, hope Square bitcoin is able to operate here soon
Dominic · 29w
Would be amazing! I know NY is a pain in the ass for anything crypto related. Coinbase is basically the only CEX we can have here.
idsera · 29w
Haha. I think when be at least more than 10%, make sense show the info.
idsera · 29w
So the reason to not have Bitcoin payments enabled by default was regulatory? I thought it was because Square would like to know first how many merchants would enable the feature on their own, so they...
MT⚡️ profile picture
That’s secondary to it. I won’t bore you with the details but because bitcoin is so regulated (with nuances at the state level in some cases), auto-on even as USD is extremely tricky.

We’re working to unlock this as much as possible but it requires taking a very methodical approach that focuses on specific segments at a time.
1
idsera · 29w
Ah ok. I thought for USD settlement, the auto-on would be ok, just needing to approve a new Terms of Service for example. But thanks for the answer.
HaloKat · 29w
How does it work? How is merchant onboarded to this?
MT⚡️ profile picture
For payments specifically? That’ll be generally available on Nov. 10 but here’s what to expect:

Go into Payment Settings in the Square app and you’ll see a new row for Bitcoin with an Activate button next to it.

We do a bunch of eligibility checks so activation will be quicker for some than others (depending on your business structure, geolocation, 2FA status, etc)

But everyone will have the option to choose USD or bitcoin settlement, and another surprise feature we’ll have at launch 👀

We’re looking into ways to auto-on bitcoin payments with USD settlement but as you can imagine it’s challenging from a legal and regulatory perspective.

Separately you can enable payments from Bitcoin onboarding (in Square Banking) where you can also configure your card sale conversions and set up your wallet.
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idsera · 29w
So the reason to not have Bitcoin payments enabled by default was regulatory? I thought it was because Square would like to know first how many merchants would enable the feature on their own, so they could choose BTC settlement, if they wanted. So after some months, the option to accept Bitcoin pay...
MT⚡️ profile picture
would anyone be interested in a Square Bitcoin AMA?

reply or just tag me in any questions going forward and I’ll answer whenever I’m on
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HaloKat · 29w
How does it work? How is merchant onboarded to this?
Deleted Account · 29w
It would be great to highlight vendors using bitcoin for checkout. Maybe make it social like foursquare/blackbird
tomas⚡️ · 29w
Exciting stuff! Wonder if this will launch with support for Bolt12?
Dominic · 29w
Will it ever be available in NY?
paul keating · 28w
I saw a post or tweet about a map? Does this exist somewhere already? Looking to help make some Bitcoin noise on launch day. I'll be in san Diego or Kauai.