Bitcoin can reach a million merchants. Why aren’t people spending it?

Bitcoin payments have reached more than a million U.S. sellers through Square, yet the group behind much of the network’s payment software says everyday spending remains scarce. Spiral’s October 27 report is an unusually frank assessment from a Block-backed developer: seven years of easier Lightning tools have expanded the places Bitcoin could be used without giving most holders a reason to use it there. The contrast is visible at the register. A seller can display a Bitcoin option and still take no Bitcoin payments all day. A customer who acquired the coin as a long-term holding may see little reason to spend it on lunch when a card draws dollars from an account already used for expenses.

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