E11even Partners hospitality group announced Tuesday that when customers pay for tables, drinks, or merchandise, they will have the option of using cryptocurrency. The company has partnered with a cryptocurrency processing company to process purchases using Bitcoin (BTC), Bitcoin Cash (BCH), Ripple (XRP), Dogecoin (DOGE), and more.
You can't drain a Bitcoin wallet, it's a push system rather than pull. Receiver gives you an address and you send coins to it. It's not like a credit card number where a merchant or employee can copy the number and keep charging things to it, or a bank account where once given the routing number and account number they can transfer money out of it.
Now if someone hacks your computer/phone - or if you are using a hosted wallet, hacks the host - then they can.
I wonder how many people will use-up their bitcoins - supposedly most people big into bitcoin are big into hoarding them.
Economist Peter Schiff was talking about his 18 y/o son the other and how his son has invested every penny he has into Bitcoin - his son then came to him asking to borrow $250 to take an online course he was interested in - Peter told him "why don't you sell some of you Bitcoin to pay for the course" and his son said no-way.
Why the fuck would I pay a club btc when I can send btc directly to strippers with cashapp? VIP is worth the $20 transfer fee. 2-3 bud lights, not so much. All the club ever gets from me is cash.
Also imagine buying gold in 2011 instead of btc. Probably just barely be breaking even. Schiff is not a dumb man - he either owns a shitload of Bitcoin behind the scenes or is so stubborn at this point that he will never buy btc due to some misguided nonsense he spun in his head.
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Now if someone hacks your computer/phone - or if you are using a hosted wallet, hacks the host - then they can.
Economist Peter Schiff was talking about his 18 y/o son the other and how his son has invested every penny he has into Bitcoin - his son then came to him asking to borrow $250 to take an online course he was interested in - Peter told him "why don't you sell some of you Bitcoin to pay for the course" and his son said no-way.