Bitcoin on regular Cash Apps

[CTO114]

Recently a lot of interesting discussions has been raised about Bitcoin. One that caught my eye was Jack Dorsey's cash app announcing  that users would soon be able to pay their bills using Bitcoin. An interesting development.

Personally, I think this move goes on to show another port folio in Bitcoins usefulness. Now imagine cash apps allowing it's users to settle bills with Bitcoin without having to hold Bitcoin. One can't help but ask is this diversity deviating from what Bitcoin was create to achieve?

Over the years, Bitcoins adoption has been focused on how many people decide to buy and hold it. Now making Bitcoin useful for everyday payment could be also an important move. From an individual perspective, paying bills without having to worry about wallets or price fluctuations will definitely be good for Bitcoins adoption.

On the flip side though, would one say that financial freedom is achieved when a lot of persons use Bitcoin and its network without ever controlling their money, or owning BTC? Are we seeing a build up of traditional financial system on Bitcoin's infrastructure?

Obviously, greater convenience could introduce more persons to Bitcoin and even encourage them to hold it. Although widespread use doesn't necessarily translate into greater demand in this case.

We may be entering an era where Bitcoin is less dependent on people who holds  it but more on how deeply its network become embedded in everyday transactions.

One can't help but ask; if millions of people use Bitcoin without necessarily owning it, are payment companies finally finding a new way to keeping control over Bitcoin?

[Jostle]

There are a few companies out there which are looking to make BTC "flow" more naturally. Where "flow" refers to the movement of BTC for payment purposes (just like how cash is like right now).  If it takes off, it's great. Rather than BTC becoming a hodl-only commodity or "trade" commodity.

Looking forward to that day, and also am supporting those companies in their endeavours

[Rgram]

Recently a lot of interesting discussions has been raised about Bitcoin. One that caught my eye was Jack Dorsey's cash app announcing  that users would soon be able to pay their bills using Bitcoin. An interesting development.

Personally, I think this move goes on to show another port folio in Bitcoins usefulness. Now imagine cash apps allowing it's users to settle bills with Bitcoin without having to hold Bitcoin. One can't help but ask is this diversity deviating from what Bitcoin was create to achieve?

Over the years, Bitcoins adoption has been focused on how many people decide to buy and hold it. Now making Bitcoin useful for everyday payment could be also an important move.

It’s an important development indeed and it isn’t the case of either; it could be an important move, it is an important move in this space.

Bitcoin hasn’t being focused on how many people decides to buy and hold, as a form of adoption, it is a part chosen by many to leverage on the potentials Bitcoin has got and in the absence of everyday utility as an exchange media due to slow adoption.

The Cash App inclusiveness would be a huge step towards changing that. Thought it might be utilizing centralized system, it’s an introduction to where we are going and would be in the later future where we would use it p2p on decentralized systems.

[348Judah]

We may be entering an era where Bitcoin is less dependent on people who holds  it but more on how deeply its network become embedded in everyday transactions.

We are getting there already because Bitcoin is becoming a mainstream digital currency for making payments and settling debt; the time is coming when it will become the way we widely adopt the use of Fiat, but I know we are gradually getting there. So many people still do not understand the relevance of why Bitcoin was created and how they can take advantage of the same opportunity for their own benefit through its adoption.

[yudi09]

One can't help but ask; if millions of people use Bitcoin without necessarily owning it, are payment companies finally finding a new way to keeping control over Bitcoin?

Be careful when you’re in public spaces. This is a message that could help protect Bitcoin users and their Bitcoin holdings.
If there’s already a cash app that supports paying bills with Bitcoin within the same app, that’s great because it makes things easier when that option is available.

The payments business will continue as usual because that’s how companies pay their employees’ salaries and cover their executives’ lavish expenses.
As progress continues, change is inevitable—it’s something that’s bound to happen. Perhaps you need to explain in more detail what it means to use Bitcoin without actually owning it.

[serjent05]

One can't help but ask; if millions of people use Bitcoin without necessarily owning it, are payment companies finally finding a new way to keeping control over Bitcoin?

Technically no.  And one question: how can a person spend Bitcoin without even owning it?  At some point, they need to buy BTC, store it to the app's wallet, and make a purchase using the app.  In a buy-and-use-as-payment-for-purchases scenario, the person owns Bitcoin when he buys it and uses it to pay for a purchase, so we cannot say that a person is using Bitcoin without owning it in this scenario.  It is a short-term ownership, but the person still owns the Bitcoin until he spends it.

[BitMaxz]

Honestly, Cash App is a little bit late. Honestly, here in my country we have a local app that is similar to Cash App where we can pay with bills with crypto, not only Bitcoin. It has been started since 2015.
Well, I think this delay happening to Cash App is due to regulation, but at least now anyone who uses Cash App can be able to pay bills on-chain or lightning.

But it is still not a good alternative wallet to store Bitcoin. Be careful because I heard before they freeze accounts, so I still suggest that you hold your BTC in a non-custodial wallet that you fully control rather than using a regulated app like this one.

[Multani Boy]

Cash App announced a feature that allows customers to pay from their fiat currency balance via Lightning QR code scan. Bitcoin is used as a payment rail for this transaction, but the customer does not actually hold any Bitcoin. Payment is deducted from their fiat currency balance, and the merchant receives BTC.

I think that is an important distinction, as interacting with Lightning is not the same thing as bill pay, which Cash App announcement does not describe. Also worth noting, interacting with crypto rails does not always equal sovereignty or control over your own money.

[X-ray]

That's a good news actually, more reason to pay transaction with bitcoin since it become easier.

One can't help but ask; if millions of people use Bitcoin without necessarily owning it, are payment companies finally finding a new way to keeping control over Bitcoin?

Doubt it, but it depends on how much the company hold its user's bitcoin. Even so, having more bitcoin in your custody doesn't mean you can change around the blockchain at your will. Maybe they can control prices.

Some might deposit straight into cash app, some might only be depositing bitcoin as they needed, sort of using crypto debit card and honestly I see no difference between the two except bridging crypto use to traditional merchant.

[Tamaperdana]

Snip

Personally, I think this move goes on to show another port folio in Bitcoins usefulness. Now imagine cash apps allowing it's users to settle bills with Bitcoin without having to hold Bitcoin. One can't help but ask is this diversity deviating from what Bitcoin was create to achieve?

Snip

I think as long as it's positive, it's certainly not a problem. As far as I know, Satoshi created Bitcoin for payments. So, this doesn't deviate from Bitcoin's original purpose in fact, it's a step in line with its original purpose. However, there are certainly some things that could complicate things if this happens, namely Bitcoin's price volatility. If Bitcoin's price is one thing today, it will certainly be different tomorrow. So, while Bitcoin can be used as a means of payment, we must accept that it's a volatile asset. So, don't be surprised if its price keeps fluctuating. However, I also strongly support this kind of thing. If Bitcoin becomes a means of payment, we'll feel free and not constantly overshadowed by certain institutions like banks. Hopefully, this will continue to develop and yield positive results.

[HajiBagi]

We may be entering an era where Bitcoin is less dependent on people who holds  it but more on how deeply its network become embedded in everyday transactions.

We are getting there already because Bitcoin is becoming a mainstream digital currency for making payments and settling debt; the time is coming when it will become the way we widely adopt the use of Fiat, but I know we are gradually getting there. So many people still do not understand the relevance of why Bitcoin was created and how they can take advantage of the same opportunity for their own benefit through its adoption.

Everyone expects more from bitcoin and we all believe that there will be a time when bitcoin will be more valuable than ever, when the app is available, it is going to help people when it comes ti making payments through Bitcoin without worrying about fiat currency, but there is something that i am still worry about, there are people who will still not decide to use it because we know how dangerous scammers, from using the apps to make a payment there are some things that can happen, but we shouldn’t think about that much, another reason that make me think some people will still prefer another method of payment is because they are used to pay their bills with fiat currency and some countries will not accept bitcoin payments when you purchase something, although it will be very helpful, but from my own view, it will take a time before some people can use it.

[Zlantann]

I think as long as it's positive, it's certainly not a problem. As far as I know, Satoshi created Bitcoin for payments. So, this doesn't deviate from Bitcoin's original purpose in fact, it's a step in line with its original purpose. However, there are certainly some things that could complicate things if this happens, namely Bitcoin's price volatility. If Bitcoin's price is one thing today, it will certainly be different tomorrow. So, while Bitcoin can be used as a means of payment, we must accept that it's a volatile asset. So, don't be surprised if its price keeps fluctuating. However, I also strongly support this kind of thing. If Bitcoin becomes a means of payment, we'll feel free and not constantly overshadowed by certain institutions like banks. Hopefully, this will continue to develop and yield positive results.

Any form of payment systems that encourages people to use Bitcoin is a welcome development since it will increase adoption. Yes, Satoshi designed Bitcoin to be an alternative to fiat but it should be used in a decentralized form. My candid advice for people who would be using Cash Apps is to be careful. They should keep only small amounts in this app since they don't have full control over their funds. Government could come up with laws that can affect the operation of these centralized platforms which could lead tp freezing of funds.

[traderethereum]

Some people used Bitcoin for payment transaction while some others will not doing the same but prefers to hodl Bitcoin. Probably that is happening but some people will still keep Bitcoin and sell if the price is high. I don't think those companies control over Bitcoin, maybe they control their own Bitcoin. Diversity is not deviating the reason Bitcoin created but people will choose what matters to them and no one can force them to follow the other people.

[OsaiEmma]

One can't help but ask; if millions of people use Bitcoin without necessarily owning it, are payment companies finally finding a new way to keeping control over Bitcoin?

Technically no.  And one question: how can a person spend Bitcoin without even owning it?  At some point, they need to buy BTC, store it to the app's wallet, and make a purchase using the app.  In a buy-and-use-as-payment-for-purchases scenario, the person owns Bitcoin when he buys it and uses it to pay for a purchase, so we cannot say that a person is using Bitcoin without owning it in this scenario.  It is a short-term ownership, but the person still owns the Bitcoin until he spends it.

I don't think you really understand this concept. What do you think owning Bitcoin is? Do you think when you buy Bitcoin from a 3rd party custodian that creates an account for you and keeps a record of your purchase is owning Bitcoin? It isn't. Truly owning Bitcoin is when you have a UTXO in your custody/wallet; do those custodian entities have a specific UTXO for you? The answer is no. They don't immediately create a UTXO when you request to buy; it's either they already have the Bitcoin backing it up, or they purchase later to balance out the various bought Bitcoins. So you don't actually owning real Bitcoin, what you have is an IOU saying they owe you such amount of Bitcoin.

Now, the OP is referring to this type of situation, not a situation where you actually have a UTXO controls and spend it.

[5W-KILO]

I've heard about Cashapp few years ago and I have never downloaded the app on my phone for once, I don't even know how it works or something, so if they allow Bitcoin transactions on the app right now I still won't use it.

Unless many online stores starts to allow CashApp payment in their stores, there are many electronics that I need to buy in America and I can't because of restrictions, and I have eye on them because of America brands, they are always better and reliable.

Unlike china techs, although china has better technologies too but you will have to look into a bin of dirt to find them,  not the same in America because they don't have less reliable products at all, they don't allow it.

[OnChainSentry]

Practical advice if you're buying through cash apps: the app itself is fine as an on-ramp, but don't let it become your storage. A few rules that matter:

1. Whatever you're not actively trading, move it to self-custody. On the apps you don't control the keys, and in 2026 "not your keys" has been proven right too many times to ignore.

2. Note the spread. Convenient apps quietly charge 1-3% over spot. For small recurring buys it's fine, just know your real cost.

3. Turn on every security option the app offers, especially withdrawal allowlists if available. SIM-swap attacks are still everywhere.

4. When you withdraw to your own wallet, send a small test amount first, verify it arrived, then send the rest. Verify the address on your hardware wallet screen if you use one, not on the clipboard.

Buying is the easy part; the custody decision is what separates the people who still have their coins in ten years from the ones posting loss threads.

[GideonGono]

Honestly, Cash App is a little bit late. Honestly, here in my country we have a local app that is similar to Cash App where we can pay with bills with crypto, not only Bitcoin. It has been started since 2015.
Well, I think this delay happening to Cash App is due to regulation, but at least now anyone who uses Cash App can be able to pay bills on-chain or lightning.

But it is still not a good alternative wallet to store Bitcoin. Be careful because I heard before they freeze accounts, so I still suggest that you hold your BTC in a non-custodial wallet that you fully control rather than using a regulated app like this one.

Is this CoinsPh?
If it is, I agree on that. Coinsph gives you an option to pay using Bitcoin stored in your wallet, unlike in cashapp, your account was funded in USD and the merchant will receive the payment in BTC.
And I also think Cash app is a little late on this, but the goal here is not to compete with that platform came first or which wallet have more features to offer. It's all about expanding Bitcoin payments to people who prefer paying in USD while letting the merchants who prefer to receive payment in BTC.
At the end kf the day, neither of the two should be considered to use to replace non custodial wallet since what we all wanted is to maintain full control over our own money.

[Ojima-ojo]

That's a good news actually, more reason to pay transaction with bitcoin since it become easier.

One can't help but ask; if millions of people use Bitcoin without necessarily owning it, are payment companies finally finding a new way to keeping control over Bitcoin?

Doubt it, but it depends on how much the company hold its user's bitcoin. Even so, having more bitcoin in your custody doesn't mean you can change around the blockchain at your will. Maybe they can control prices.

Some might deposit straight into cash app, some might only be depositing bitcoin as they needed, sort of using crypto debit card and honestly I see no difference between the two except bridging crypto use to traditional merchant.

If Cash app can provide users with a btc address which can receive deposits from any where self custody deposits, this make is a one way advantage, but from what I have read about this cash app Bitcoin adoption it seems to features a third party host and not direct Bitcoin deposits.


The dollar interface made the whole thing seems to be more of just paper adoption but way from real actual Bitcoin self custody transactions adoption.

[hmbdofficial]

~snip

This is just another Centralised exchanges in disguise, we all know there ain’t anyway bitcoin can actually be moved without one signing those keys holding them on that wallet, it’s either you’re doing it yourself or the cash app is doing it for you, in this case you might not be holding those bitcoins but cash app is, and just providing you with records of transactions and platform serving as a centralized exchanges which make them to be in total control of one’s asset.

This can be convenient for someone that do not really care about privacy, and it could also help him adoption actually but also having it in mind that usage alone isn’t what guarantees financial freedom or greater demand for bitcoin. What to ask is if people are actually gaining more control over their money or simply using another service that controls it for them.

[Nathrixxx]

Cash App announced a feature that allows customers to pay from their fiat currency balance via Lightning QR code scan. Bitcoin is used as a payment rail for this transaction, but the customer does not actually hold any Bitcoin. Payment is deducted from their fiat currency balance, and the merchant receives BTC.

I think that is an important distinction, as interacting with Lightning is not the same thing as bill pay, which Cash App announcement does not describe. Also worth noting, interacting with crypto rails does not always equal sovereignty or control over your own money.

I think I get the better scope of this idea with your explanation being made perfectly, which our Fiat, we can use it through the incorporation of the lightning network to make a transaction and pay in Bitcoin to the merchant, this sounds a lucrative idea, but come to think of it in this way, if we make the calculations from what they are going to deduct in terms of the rates and what would have been deducted if we already have our Bitcoin and making payment directly without using the cash app, I know that there should be some slight difference in terms of the fee rates