The GENIUS act bill that was passed yesterday by Trump has everything to do with USDT and other stable coins, I get it but at least now things are looking more smoother for crypto payment? I believe that using the likes of stable coins and Bitcoin to pay online will now be more possible?
What do you think? Or am I getting way ahead of myself? I so much look forward for BTC payment option on large online stores like Amazon, because I can't find anything else that's easier for payment online than this.
I am not in the United states, I am way far away from America and in my country to use Fiat as payment is even limited, imagine you want to buy an expensive gadget that worth $6000 and your spending limit on every bank account can't exceed $3000 per month.
If BTC payment become a thing then it will make a lot of sense, I can decide to spend $10,000 per day if I want or can.
Using Bitcoin for everyday payments isn’t really about laws or politicians like Trump. The real problem is that most people still don’t understand Bitcoin. Many still think it’s just gambling or speculation and don’t realize that it’s solid money that will continue to increase in value compared to regular dollars and other fiat and crypto currencies. Once people start realizing that Bitcoin’s purchasing power keeps growing, they’ll be much more willing to use it because who wouldn’t want money that actually gains value?
I agree with this.
A few days ago, I asked my barber whether or not they would accept Bitcoin as payment and I would even give a 20% extra. Imagine what they said? They said : No. Does this make sense? I mean, money is money and with 20% extra they definitely do not have to worry about short term price volatility before they take the Bitcoin and exchange it for fiat. But it really does seem like people misunderstand it and are therefore afraid of using Bitcoin. Even when offered a nice deal.
So the question should really be: how do we get people who are afraid to move away from the old money system (fiat) to adopt Bitcoin?
When asked why they are so skittish around Bitcoin, I noticed many have the same answer: too many scammers in the crypto space. This and the complexity for newbies seems to be the likely biggest problem