The BitPay team is back from Bitcoin 2022, the largest Bitcoin conference in the world. In this issue we’re recapping BitPay's presence at the conference. Plus, learn more about what BitPay's Co-Founder, Tony Gallippi, announced on the main stage. Every month we welcome new merchants to BitPay, and you don’t want to miss this month’s merchant spotlight or our merchant shoutouts. And don’t forget to check out Pacaso's Home of the Month, YACHTZOO's Yacht of the Month, and more!
In This Issue:
BitPay in the Spotlight
It’s been an exciting month in news for BitPay. Check out our latest interviews and news:
- Stephen Pair, BitPay CEO sat down with PYMNTS.com to discuss how our accurate payment protocol improves reliability.
- Check out this PYMNTS.com’s eBook “2022 OUTLOOK The Innovations That Hit, Missed And Need To Hit Reset” including BitPay’s Head of Product, Shaun Worley, thoughts on why cryptocurrencies and blockchains are not just a flash in the pan.
- Read Crypto News Pipe’s recent breakdown on why BitPay’s Wallet app is one of the most efficient software wallets.
- The 2022 BitPay Brackets champion has been crowned! The Shib Army showed up in each of the four rounds to claim the title for the coin, Shiba Inu.
- Want to shop with your Shiba Inu? Shop these 9 spots featuring BitPay Merchants AMC Theaters and Dallas Mavericks.
Other Industry News
The crypto world continues to be abuzz, so check out the latest in the crypto world:
- Intel has announced their new Bitcoin Mining Chip, Blockscale, will launch later this year to select customers. This new chip will increase energy efficiency and sustainability.
- Ukraine has announced the launch of their NFT Museum, Meta History: Museum of War. The museum will be focused on preserving Ukraine’s history and includes Warline, a war timeline.
- Crypto lobbyists are working with state officials to write bills to make it easier to buy and sell cryptocurrency. This is part of an “aggressive” plan to benefit the crypto industry state-by-state. Last month the Florida House passed a bill to do that.
- Peter Thiel, Co-Founder at PayPal, announced at the Bitcoin 2022 that he is optimistic that Bitcoin will see 100 times increase and predicts that we are at the "end of the fiat money regime."
BitPay Bids Welcome to New Businesses
Every month BitPay welcomes new merchants who are looking to grow their customer audience by accepting crypto. Check out some of April’s newest merchants joining BitPay:
- The Fragrance Shop - UK’s largest independent, fragrance retailer.
- Meatme.ca - BC's No. 1 online store for sustainably raised meat.
- Noyack Logistics Income - a REIT investing in supply chain real estate sponsored by NOYACK Capital
- Nium - the global platform for modern money movement
- Ubersmith - subscription management for cloud-based services
- YACHTZOO - luxury yacht brokerage and yacht sales
BitPay Merchant Spotlight: Axiom Space
One of our newest merchants, Axiom Space, made history on Friday, April 8th, 2022 for launching an all civilian crew for a 10-day mission to the International Space Station. The four-person crew of SpaceX Dragon will spend eight days at the station, and this is only the beginning. Axiom Space has more missions planned with the intent to launch “a private space station in low-Earth orbit that can serve as a global academic and commercial hub.”Learn More
BitPay Merchant Shout-outs
- During the Bitcoin conference, the BitPay team was excited to promote Jomashop's limited-time discount for Bitcoin enthusiasts with a love for watches! And we got to meet Jomashop customer's wearing their watches at the conference.
- Pacsun announced they are excited to be the first major brand in the fashion and retail to now accept payments via our Lightning Network. The Gen Z audience, our primary consumer, is very tech-oriented, and we dedicate a lot of our efforts towards social media and eCommerce to align with their lifestyles and resonate with them on a more personal level," said Michael (Mike) Relich, Co-CEO at Pacsun. "Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer BitPay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens."
- AMPEX and BitPay partnered up to offer BitPay customers at the Bitcoin 2022 conference an exclusive Silver Bitcoin round. With a unique design that pays homage to the evolution of currency, these .999 fine bullion rounds are perfect for adding some physical Silver into your portfolio.
BitPay Charity Spotlight: Crohn's & Colitis Foundation
Since August 2018, the Crohn’s and Colitis Foundation has partnered with BitPay to accept crypto donations. The Crohn’s & Colitis Foundation’s mission is to find cures for Crohn’s disease and ulcerative colitis. As many as three million Americans are affected by these diseases, and they help improve the quality of life for children and adults impacted by these diseases.Donate Now
Word of the Month: Ethereum Merge
Ethereum is set to move from proof-of-work, a very energy intensive process, to proof-of-state, a faster and environment friendly process. This shift is known as the Merge and is important because it will reduce the amount of computer power needed to validate a transaction, which will help reduce environmental impact. While there is no official launch, developers are making significant progress on the backend. Hear what Mark Cuban has to say about the Merge.
Product Spotlight: Lightning Network
Last week Tony Gallippi, co-founder of BitPay, took to the main stage at Bitcoin 2022 to announce the launch of the Lightning Network. BitPay Merchants now have the option to choose Lightning Network payment when an invoice is generated. Once an invoice is generated, customers of the BitPay Merchants can select a Lightning supported wallet. Main lightning-supported wallets include Strike, CashApp and 10+ others.
What is the Lightning Network?
The Lightning Network is a second layer on top of the Bitcoin Network designed to increase the scalability of Bitcoin. BitPay’s support of Lightning Network extends to only Bitcoin transactions. These transactions are off-chain, so no blockchain entry is made for the transactions, and there is no concept of confirmations.
The Main Benefits of Lightning Network payment acceptance:
- Fast Transactions: Performing smaller transactions on the Lightning Network reduces congestion on the main blockchain, speeding up transactions.
- Lower Fees: Fees on the Lightning Network are typically a fraction of a cent. For merchants, this means more customers spending crypto. For customers, paying with crypto is as efficient as any other payment method. Additionally, micropayments become economical with the Lightning Network.
- Scalability: Lightning Network can process hundreds of thousands more transactions per second than the traditional Bitcoin blockchain.
Marketing Spotlight: Bitcoin 2022 Recap
The BitPay team joined over 25,000 Bitcoin enthusiasts at Bitcoin 2022, a four-day conference filled with excitement exclusively focused on the future of the Bitcoin world. We were excited to meet customers at our booth and offer app users, new and current, the opportunity to spin our wheel for the chance of winning BitPay swag! Spinners had the opportunity to win commemorative coins, jerseys, frisbees and more.
Tony Gallippi, the co-founder of BitPay, took the main stage to announce the launch of the lightning network. BitPay Merchants now have the option to choose Lightning Network payment when an invoice is generated.
Did You Know?
On May 18, 2022, Bitcoin enthusiasts will be celebrating Bitcoin Pizza Day to remember the first documented day of Bitcoin being used to make a purchase, which was 2 pizzas from Papa Johns for a price of 10,000 BTC. At that time, it was $41, and today's market price would be $414,775,979.
Pacaso Home of The Month: Boardwalk
Fresh and modern, this home and ADU are just three houses from West Cliff Drive and the water. A minimalist vibe is embodied by polished concrete floors, metal-framed windows and open living spaces.
Cost: $799,000 for 1/8 ownership
Address: 120 Gharkey St, Santa Cruz, CALearn More
YACHTZOO Yacht of the Month: M/Y Palm B
This luxury vessel has a sophisticated exterior design and accommodates 10 guests in 5 staterooms, including a full-beam master suite with an office/gym separate area and equipped with a sauna. She also has a VIP, a double and a twin stateroom.
ASKING PRICE: € 2,900,000
TAX STATUS: VAT PaidLearn More
What will the price of Bitcoin be at the end of 2022? What about the price of DOGE, LTC, SHIB? Do you have a favorite merchant or brand that you would love to see accept crypto in 2022? Share your thoughts and predictions by completing these fun polls.