They say the GENIUS act was created with the main goal of protecting users, but in reality they are trying to strengthen the position of the USD and manage the money flow more tightly. This GENIUS not only requires stablecoin issuers to be pegged to the USD, but also requires organizations to comply with the statutory withdrawal, freezing, and burning of stablecoins.


OP is a bit naive to think when they pass a bill regarding crypto that bitcoin and other cryptocurrencies will benefit and be treated the same. But unfortunately, they have their own goals. They only do what benefits them, so don't expect them to do the same with bitcoin, a currency that is beyond their control.

Yeah, i would never touch my stack.

BUT, if it suddenly became commonplace to spend bitcoin, I might from time to time buy a little to specifically spend in a specific store, to sort of support the movement.

The GENIUS act bill that was passed yesterday by Trump has everything to do with USDT and other stable coins, I get it but at least now things are looking more smoother for crypto payment? I believe that using the likes of stable coins and Bitcoin to pay online will now be more possible?

What do you think? Or am I getting way ahead of myself? I so much look forward for BTC payment option on large online stores like Amazon, because I can't find anything else that's easier for payment online than this.

I am not in the United states, I am way far away from America and in my country to use Fiat as payment is even limited, imagine you want to buy an expensive gadget that worth $6000 and your spending limit on every bank account can't exceed $3000 per month.

If BTC payment become a thing then it will make a lot of sense, I can decide to spend $10,000 per day if I want or can.

I didn't know that some countries impose spending limits on people's bank accounts. This is weird.
Spending lots of BTC on expensive purchases doesn't make sense to me. You can spend altcoins or stablecoins on buying stuff(if the seller accepts altcoins and stablecoins as payment). Maybe you could gather more cash and spend cash on offline purchases.
The BTC price is going to increase even more, spending BTC seems like a bad move right now.
I don't believe that Amazon is ever going to accept BTC/crypto as a payment method. They are doing just fine with fiat payments.

Hmm?

I'm sure every banks have limits on people's bank accounts, so it looks like you didn't make research or simply didn't care at all. But, I'm also like you, I have never spend more than my limit because the limit is way too big.

We also have an option to upgrade our account which will increase our limit, few people might have a lot money which could make them able to spend more than the limit. But, do they always spend a lot of money everyday?

This case is very rare, even Bitcoin can fix this, it's not fixing the problem of most people.

It has always been possible even now without that law being passed (yesterday news is about stablecoins anyway nothing to do with BTC).

It is about desire and willingness more than anything else. And an understanding that using it is what gives it value.

This forum shows the true colors and explains this perfectly. We can all pay each other in BTC now if we wanted. But how many posters actually engage in using BTC as payment with each other? Nothing stopping them or you
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Actually.The tools have always been there it’s the mindset that’s lagging. People wait for permission or perfect conditions, forgetting that Bitcoin was built to not need those. The law isn’t what makes BTC usable; our collective decision to use it does.

If we truly believe in Bitcoin’s value, we should be willing to demonstrate it through action, not just words. The fact that most still default to fiat for peer-to-peer shows how far we still are from real adoption.

BTC doesn’t need everyone but it does need someone to start walking the talk.

To us, this may seem absurd, but banks do it for a reason. They won’t arbitrarily restrict our spending when doing so brings them no benefit. The reason they restrict spending or transferring/withdrawing money is because they are complying with government laws. They need to ensure that these are legitimate transactions, not fraud, money laundering or terrorist financing. Because before setting such limits, they have calculated very carefully so as not to affect the daily lives of customers. That is why they offer different types of cards and limits for different people's needs.

Honestly, I rarely see anyone complaining regularly about being restricted in their spending, even wealthy people.

So far, bitcoin is only recognized as a commodity, asset or investment and I don't think they will change that anytime soon and encourage people to gradually use it as a currency. The simple reason is that governments will never accept a currency that they do not control.

100%!!

And we're not even talking about hard to use tools. 10 years ago people were able to sell things on their own. In 2017 I saw people who could not write good English know how to set up QR code for BTC payment on the roadside.

BTC was built for people who had problems with the existing systems. The laws and systems didn't help before why would we wait for them to help more now, right?

People all talk and do less. Start using it today, OP, and then you don't need to ask or wonder anymore.