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Topic: Of Square's $669 million of first-quarter revenue, $34 million came from bitcoin (Read 169 times)

legendary
Activity: 2912
Merit: 6403
Blackjack.fun
Quote from: Hydrogen
Numbers like this could hint at wider bitcoin adoption in the future.

Well, it doesn't directly suggest that, since Square made most of the profit from acting as a buy/sell platform of BTC and not as a merchant. But it goes without saying that adoption rates are only going to increase in the future, imo.

Its embarrassing that I missed that part.  Cheesy  Good read.  Grin  Would merit you if I had any left.

It's even worse than that....

https://www.ccn.com/heres-how-much-revenue-square-earned-from-bitcoin-trading-in-q1/

Profits from well established companies like Square will further help the development of the cryptocurrency market. This will help legitimize crypto in the eyes of the public and big institutional investors and incentivize them to join. The only barrier right now is the speculative nature of this space, but once the dust settles we will see the real winners and the coins to stay.

Or, if I may rephrase that, attract every hyena on a 200 km radius with the smell of fresh money.
None of those involved are charities that are interested in the development as long as it doesn't bring them profits, take that away from BTC and you're not going to see them again.
legendary
Activity: 2562
Merit: 1441
Quote from: Hydrogen
Numbers like this could hint at wider bitcoin adoption in the future.

Well, it doesn't directly suggest that, since Square made most of the profit from acting as a buy/sell platform of BTC and not as a merchant. But it goes without saying that adoption rates are only going to increase in the future, imo.

Its embarrassing that I missed that part.  Cheesy  Good read.  Grin  Would merit you if I had any left.
hero member
Activity: 1666
Merit: 753
It's interesting that mainstream companies are deciding to step foot into the bitcoin scene, and they are devoting a lot of their resources to it, and obviously getting revenue back as a result as well.

I feel like in the future, a lot of traditional, centralised payment processors will be forced to also adopt bitcoin one way or another by offering buy/sell services or otherwise.

Quote from: Hydrogen
Numbers like this could hint at wider bitcoin adoption in the future.

Well, it doesn't directly suggest that, since Square made most of the profit from acting as a buy/sell platform of BTC and not as a merchant. But it goes without saying that adoption rates are only going to increase in the future, imo.
jr. member
Activity: 69
Merit: 2
Profits from well established companies like Square will further help the development of the cryptocurrency market. This will help legitimize crypto in the eyes of the public and big institutional investors and incentivize them to join. The only barrier right now is the speculative nature of this space, but once the dust settles we will see the real winners and the coins to stay.
legendary
Activity: 2562
Merit: 1441
Near to a 5% gain in revenue from bitcoin, nice!

Numbers like this could hint at wider bitcoin adoption in the future. As student loan debt, credit card debt, declining real estate demand and similar issues become more desperate for sources of liquidity to maintain demand, and governments seek out new ways to boost tax revenues to ease debt, crypto currencies will be deemed the logical source to tap.

Many large corporations and governments are digging themselves a wide and deep hole. The market cap of crypto coins, and the credit liquidity crypto support could provide, could end up being their only hope for salvation. There is talk of illegalization and banning of crypto currencies but in the end the world may need bitcoin to ease deficit and debt, and boost revenues to stay competitive against rivals, a lot more than bitcoin needs the world.
hero member
Activity: 672
Merit: 526
Of Square's $669 million of first-quarter revenue, $34 million came from bitcoin:



https://www.cnbc.com/2018/05/02/square-earnings-q1-2018-and-q2-forecast.html

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