17 Feb Visa Head of Crypto Sees Bright Future for Bitcoin
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Cuy Sheffield, Head of Crypto at credit card giant Visa, envisions Bitcoin Sats as the internet native unit of account for purchases less than one cent. He sees this as the main use case where the leading asset can supersede fiat.
Sats, an internet native micropayment standard
15/ Bitcoin uniquely has a native unit of account called a “sat” that currently represents 1/100 of a cent while BTC is $10k. The brand of “sats” is far from mainstream, but it could already be the most recognizable global unit of account to represent value < 1 cent
— Cuy Sheffield (@cuysheffield) February 16, 2020
Cuy Sheffield has been thinking about Bitcoin and crypto a lot. Spurred on by a recent Tweet by Brian Armstrong, CEO of Coinbase, Mr. Sheffield went on a tweet storm where he made a positive argument about Bitcoin’s capacity for micro payments using the Lightning Network.
As Sheffield points out, there is nothing you can buy online for less than a penny, using dollars. Sheffield makes an…
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