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Head of Crypto at Credit Card Giant, Visa, Envisions Bright Future for Bitcoin Sats

4y ago
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Visa head of crypto, Cuy Sheffield, envisions Bitcoin Satoshis as the internet native unit of account for transactions less than 1 cent. Sheffield made this claim through series of tweets, spurred on by a recent tweet by Brian Armstrong, Coinbase CEO.

During Armstrong’s storm of tweets, he made a positive argument about Bitcoin’s capacity for micropayments using the lightning network. 

He pointed out that, there is nothing that one can buy online for less than a penny, using dollars. Even with Bitcoin’s volatility and exponential growth, Sheffield believes users can still make micropayments in BTC, which can’t be made with dollars. 

Rewards earned through video streaming, tip influencers or remove ads, usually cost a small amount of Satoshis. Sheffield noted that, if these small payments on the internet stays for long, we may see several internet users, even those without bitcoin knowledge, using Satoshis to pay for online content.

Sheffield believes that since the payment amounts could be as little as a 100th of a cent, users won’t mind buying or spending it. He added that the mental transaction costs of making such minimal purchases will not cost a drastic change in online behavior, like it might if paid in cents. 

Featured Image Courtesy of Shutterstock

The post Head of Crypto at Credit Card Giant, Visa, Envisions Bright Future for Bitcoin Sats appeared first on Crypto Press.

4y ago
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bearish:

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