Jack Dorsey, Twitter, Square founder: "Bitcoin is an amazing movement.."

[julz]

http://www.thedigitalbus.com/jack-dorsey-speaks-at-university-of-michigan/

What do you think the role of currency innovation will play in the future of Square. BitCoin?

A. Bitcoin is an amazing movement. that needs to stabilize, and Square will accept any currency that comes over the counter. If it becomes huge and accepted in the world, Square will accept it. We don’t just focus on currency.

Well it's not really saying all that much to say they'll accept it "If it becomes huge and accepted"...  but it's definitely not outright hostility.

Perhaps he's viewing Bitcoin more as 'just another currency' than a payment mechanism.

Also reported in Press thread:
https://bitcointalk.org/index.php?topic=109373.0

[dissipate]

Saying they will accept it after it becomes huge doesn't help much. In fact, it just exacerbates the chicken and egg problem. Saying I'll jump into Bitcoin when it reaches a market cap of $1 Trillion doesn't help Bitcoin get there.

[julz]

Yeah.. I'd have expected him to say something more negative, as I viewed Bitcoin as more of a direct competitor to the ideas behind Square - but I admit I don't fully understand what Square is aiming at.

It was just surprising to me that he was at worst neutral, perhaps even slightly welcoming towards Bitcoin.

[FreeMoney]

Saying they will accept it after it becomes huge doesn't help much. In fact, it just exacerbates the chicken and egg problem. Saying I'll jump into Bitcoin when it reaches a market cap of $1 Trillion doesn't help Bitcoin get there.

It totally helps compared to "No never".

Considering the huge rewards for being fist if we all hear is "Yeah, yeah, we're right behind you" tons of people are going to want to get in first and this ball is rolling.

I hate to say it's a total lock, go do your own figuring, but it's a goddamn lock now, ok.

This bitcoin thing is not a footnote.

[Stephen Gornick]

If Dorsey is into it then a lot of other people will get into it. The man is practically the only cocaine powered fairy godmother of tech companies.

Exactly.

Because you have other tech names like Django core developer Alex Gaynor doing everything he can to crap on bitcoin:

Did my part to tell people bitcoins makes no fucking sense: http://news.ycombinator.com/item?id=2671686

- https://twitter.com/alex_gaynor/statuses/82543631940075520


On supporting the use of Bitcoin for software-developer tipping platform GitTip:

Please don't do this, I know that I, and many others, don't take bitcoin very seriously, and projects that use it are similarly often not taken seriously.

 - https://github.com/whit537/www.gittip.com/issues/14#issuecomment-6166095



So it is good to see @Jack not dismissing Bitcoin out of hand as something they might use some day.  (though it would be cannibalistic as Bitcoin is not just a currency but a payment system, but hey -- if Square wants to add the capability where they become a front-end for Bitcoin transactions and save a little on interchange fees, that would be fantastic for Bitcoin!)

I described how today a merchant can use Square's register even though Bitcoin is the payment method:

How to accept Bitcoin payments:

Purchase an iPad

Purchase an iPad stand (which has a swivel base)
 - http://www.tinkeringmonkey.com/square-register-stand

From an iPad download the iOS version of My Wallet from BlockChain.info/wallet:
 - https://blockchain.info/wallet/iphone-app#  (and click "View download instructions)

Download Square Register app:

 - https://squareup.com/register

Ring up sale and accept cash, credit card, or bitcoin.

When ready for payment, tap Charge.  The following is displayed:



For bitcoin payments, use the [?] app to convert the USD price into an amount of Bitcoins.  
 - [source of such an app to be determined yet.  Blockchain for Android does this, but Apple kicked Blockchain for iOS out of the App Store.  For now, http://Preev.com will suffice.]

From the Blockchain/wallet My Wallet website click Receive Payment and enter the amount of BTC to accept.  This will show the QR Code.

Swivel the iPad stand so customer can scan the QR code with their mobile

Swivel back and watch for Payment details to show the payment received (a few seconds in most instances)

On Square Register app, enter the USD amount and tap Tender.

Print a receipt for customer.  Print a second receipt and write down amount of BTC payment for reconciling by back office.

Say thank you to customer.

And perhaps a thank you to Square for the free, advanced point-of-sale app:
 - https://help.squareup.com/customer/portal/articles/385188-square-register-how-do-i-process-a-cash-payment-

[FlipPro]

I NEED TO GET IN TOUCH WITH JACK DORSEY ASAP.

[Gabi]

How to accept Bitcoin payments:

Purchase an iPad

Purchase an iPad stand (which has a swivel base)

What about i spend 199$ and i get a NEXUS 7 instead of the "ipad"?

[blueadept]

How to accept Bitcoin payments:

Purchase an iPad

Purchase an iPad stand (which has a swivel base)

What about i spend 199$ and i get a NEXUS 7 instead of the "ipad"?

Then you can use the NFC features of the Blockchain wallet as well.

[ArticMine]

If Dorsey is into it then a lot of other people will get into it. The man is practically the only cocaine powered fairy godmother of tech companies.

Exactly.

Because you have other tech names like Django core developer Alex Gaynor doing everything he can to crap on bitcoin:

Did my part to tell people bitcoins makes no fucking sense: http://news.ycombinator.com/item?id=2671686

- https://twitter.com/alex_gaynor/statuses/82543631940075520


On supporting the use of Bitcoin for software-developer tipping platform GitTip:

Please don't do this, I know that I, and many others, don't take bitcoin very seriously, and projects that use it are similarly often not taken seriously.

 - https://github.com/whit537/www.gittip.com/issues/14#issuecomment-6166095



So it is good to see @Jack not dismissing Bitcoin out of hand as something they might use some day.  (though it would be cannibalistic as Bitcoin is not just a currency but a payment system, but hey -- if Square wants to add the capability where they become a front-end for Bitcoin transactions and save a little on interchange fees, that would be fantastic for Bitcoin!)

I described how today a merchant can use Square's register even though Bitcoin is the payment method:

How to accept Bitcoin payments:

Purchase an iPad

Purchase an iPad stand (which has a swivel base)
 - http://www.tinkeringmonkey.com/square-register-stand

From an iPad download the iOS version of My Wallet from BlockChain.info/wallet:
 - https://blockchain.info/wallet/iphone-app#  (and click "View download instructions)

Download Square Register app:

 - https://squareup.com/register

Ring up sale and accept cash, credit card, or bitcoin.

When ready for payment, tap Charge.  The following is displayed:



For bitcoin payments, use the [?] app to convert the USD price into an amount of Bitcoins.  
 - [source of such an app to be determined yet.  Blockchain for Android does this, but Apple kicked Blockchain for iOS out of the App Store.  For now, http://Preev.com will suffice.]

From the Blockchain/wallet My Wallet website click Receive Payment and enter the amount of BTC to accept.  This will show the QR Code.

Swivel the iPad stand so customer can scan the QR code with their mobile

Swivel back and watch for Payment details to show the payment received (a few seconds in most instances)

On Square Register app, enter the USD amount and tap Tender.

Print a receipt for customer.  Print a second receipt and write down amount of BTC payment for reconciling by back office.

Say thank you to customer.

And perhaps a thank you to Square for the free, advanced point-of-sale app:
 - https://help.squareup.com/customer/portal/articles/385188-square-register-how-do-i-process-a-cash-payment-

There is one problem with this. The Apple censorship of Bitcoin. Ditch Apple and use an Android tablet instead.

[Stephen Gornick]

There is one problem with this. The Apple censorship of Bitcoin. Ditch Apple and use an Android tablet instead.

Actually,the Blockchain for iOS app is back in Apple's App Store, though if that is permanent this time is yet to be seen.