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This is a pretty big deal for our Mexican community on Hive I think:
Spanish translation of this post here thanks to @alteramelia.
What this means for those of you on Hive is that you can now publish blog posts, comment and upload videos to Hive and then pay your Internet and telephone bill directly with the Hive or HBD you get paid out!
“Over four million Mexicans can now pay with bitcoin for their cable, internet, and phone service,” IBEX’s CEO Jose Lemus said on stage as he announced the partnership. “With this partnership, we’re opening the doors to every bitcoin and Lightning company and financial tech company that wants to leverage Lightning technology … [we will be] rolling out new technology with Grupo Salinas that will enable mexicans to pay their groceries with bitcoin, electronics and to receive remittances.” Lemus explained his excitement about the announcement, saying that this is the “tip of the iceberg of what will go on in Mexico.”
As I've said all along, the @v4vapp Hive Lightning Bridge is Hive's Trojan horse into the real world of commerce. There are deals being done to allow BTC Lightning payments and these are very real. We in Hive would have no chance of getting a major telco to accept our lowly ranked coin, but because Hive is fast and fee-less and Lightning is kinda fast and mostly fee-less, running a bridge between them is possible.
Today it's a big telco group but once this stuff starts to be normalized in the country, and noting that it cuts a large percentage out of the costs especially compared to credit cards, I think we'll see wider adoption.
I've also said all along that this stuff won't take off in the USA or Europe, it will be central/south America and Africa where these deals start to happen.
If you are able to pay your phone bill with Lightning and you have some Hive, all you need to do is use the v4v.app website. It works well on desktop or even in the in-app browser in Hive Keychain app.
I would love someone to translate my post and share it widely to Mexican groups on Hive. Big upvotes for anyone who does that!
Dev work
Dev work continues and I'm a couple of posts behind on explaining. I'll hopefully get those posts written up soon.
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In Venezuela we can pay the electricity bill with Bitcoin, I must find out if it can be done with Lightning as well. If so, it is a fact that we can pay with Hive using https://v4v.app/.
I'd love to know if you can pay a real electricity bill with Hive via Lightning. Please let me know if you try this!
I've heard some merchants are adopting HBD, also. Has that been your experience or am I getting my regions crossed? I think I've heard the same for Nigeria and Cuba, too.
That is correct, there is a very strong work in some regions of Venezuela and they have achieved that several merchants receive payments in HBD. In my business, for example, I accept them.
Do you have a lot of people who use it or is it still such a new option it's fairly niche?
Is there any way to implement this in the U.S. right now? I'd like to find ways to use it to buy prepaid visa cards when I have to cash out my crypto, rather than going through an exchange for fiat.
Bitcoin Co will sell you Visa cards for use in the USA. Works nicely.
https://links.thebitcoincompany.com/SqFv
Awesome! The timing on this is perfect. I've been using Bitpay for a couple of years, but they're changing banks soon, and cancelling all cards from their current banking partner, so maybe I can slide right into the new way, better way instead of defaulting back to Coinbase. I love this place! Thanks, man, for this and all you do!
Seems like El Salvador would be another place to target as they are aiming to become the top nation for crypto and BTC is pretty well integrated into the economic system. I think they even pay BTC transfer fees for citizens.
Whatever services already operate there in Lightning, we can use with Hive already.
Yes, absolutely - I don't know the details of what they do and don't support to that level, but finding people in El Salvador to onboard seems smart.
That's amazing. People don't realize it enough, but V4V App is the best bridge we have created so far✌️
@thepromisedland, can you translate this and share?
This is a great move. May I know what is the tax imposed on crypto earnings in Mexico?
I have no idea how crypto is taxed in Mexico!
Don't you pay your taxes on crypto earnings?
Happy to know that I can pay Mexican bill from India 😃😄
😆
Power of cryptocurrency & decentralisation 💵
The @v4vapp Hive Lightning Bridge is indeed a bridge into the real world and tapping income into real things and paying for utilities. As more such use cases will appear, there will be more motivation to put in the time on Hive and make the most of it.
It is fun when you have the possibility to have an actual use case to use your crypto for making a payment. In the case of the Lightning Network, it is the liquidity of Bitcoin and the trust in the asset that companies start to explore and integrate the technology.
That's a big development!
Well spotted.
so cool!
Something big is really cooking in Mexico
This a job for super @eddiespino hehe
It is another great achievement for Hive If the people of Mexico will be able to pay their telco and Internet bills with Hive.
V4v.app is a great platform that provides amazing services to Hivers.
The bridge is an exciting development for everyone who needs to withdraw to fiat. I expect the Ghanian and Nigerian groups will be interested too :) I'm glad to see that crypto is getting a firmer hold in the physical world 🙌
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This is a very good step by maxico government, it will benefit people there a lot, here government of Pakistan still doesn't understand its value. The person who earns here will be able to do his bill etc comfortably from here. If the government here also allows it, then the people here will also benefit a lot. The government here has not yet understood the importance of crypto. And Pakistani government is busy banning him here.
Then this is really great news. I hope it will increase the popularity of Hive as it will be promoted.
~~~ embed:1659663713966903301 #posh I have shared this great news with my twitter followers. twitter metadata:TG92aW5nR2lybEhpdmV8fGh0dHBzOi8vdHdpdHRlci5jb20vTG92aW5nR2lybEhpdmUvc3RhdHVzLzE2NTk2NjM3MTM5NjY5MDMzMDEgI3Bvc2ggSSBoYXZlIHNoYXJlZCB0aGlzIGdyZWF0IG5ld3Mgd2l0aCBteSB0d2l0dGVyIGZvbGxvd2Vycy58 ~~~
One stop at a time, That's a great achievement. I have also heard from @demotruck that there is a hotel which is accepting HBD, as a mode of Payment. we are on our way to get real adoption. Congratulations on this big news @brianoflondon
I will never be able to do that, kinda sad.
This is a fascinating application that only furthers the thesis for adoption of $HBD and $HIVE. We need this built into a mobile-compatible app for the US. That is where critical mass can be reached..
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#posh