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Thread: WHY STARBUCKS FACILITATION OF ACCEPTANCE OF BITCOIN IS A BIG DEAL

  1. #1

    WHY STARBUCKS FACILITATION OF ACCEPTANCE OF BITCOIN IS A BIG DEAL

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  3. #2
    https://gizmodo.com/starbucks-sorry-...ere-1828119428

    Starbucks: Sorry, Your Bitcoin Is Still No Good Here

    Starbucks wants to be crystal clear: Despite recent stories about their involvement in some sort of blockchain project, they are not going to be accepting bitcoin as a form of payment for coffee.

    On Friday, Starbucks and a number of other companies including the Intercontinental Stock Exchange, Microsoft, and BCG announced they were forming Bakkt, a company that intends to create a “seamless global network” leveraging “Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets.” That inspired a wave of headlines speculating that you could soon be able to “pay for Frappuccinos with bitcoin.” Said venture is not, however, intended to help you leverage your internet money for caffeine per se, at least not yet.

    According to Motherboard, a Starbucks spokesperson clarified that Starbucks does not want bitcoins but is merely developing applications for a system that makes it easier to convert cryptocurrencies to cash:

    “It is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchangeB] will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks,” [/B]a Starbucks spokesperson wrote me in an email. “At the current time, we are announcing the launch of trading and conversion of Bitcoin. However, we will continue to talk with customers and regulators as the space evolves.”

    “Customers will not be able to pay for Frappuccinos with bitcoin,” the spokesperson wrote.
    Starbucks does, however, already accept digital payments in the form of its highly used mobile payments app, which reportedly outpaces Apple Pay, Google Pay, and Samsung Pay by millions of users. Bakkt appears to be more of a launching pad for regulated financial instruments involving bitcoin with the goal of smoothing out its rapid price fluctuations and, in the long run, replacing credit cards.

    Currently, bitcoin wouldn’t be a particularly good thing to pay for coffee with anytime, given that transaction fees sometimes skyrocket to the tune of anywhere from a few bucks to dozens and the average amount of time needed to process a transaction was anywhere from about 15 or 16 minutes to over 30 in the last 30 days. Maybe that will change in the future, but for now, if you want to blow some wealth on something at the intersection of blockchain and beverages you’ll just have to settle for Long Blockchain.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

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    Quote Originally Posted by NorthCarolinaLiberty View Post
    I didn't actually read any of the thread. I now mostly just come here to mess with Zip.
    I am Zippy and I approve of this post. But you don't have to.

  4. #3
    Do you know how to read?

    Why do you post $#@! from authors who are completely retarded?

    “It is important to clarify that we are not accepting digital assets at Starbucks. Rather the exchange will convert digital assets like Bitcoin into US dollars, which can be used at Starbucks,”


    So people will be able to use their digital assets, like bitcoin, at starbucks, convert it directly to cash, to buy coffee.

    From a consumer standpoint, is this ANY different from accepting bitcoin itself, then turning it over to a third party to convert to cash on the starbucks side, rather than right before the transaction? No.
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  5. #4
    Quote Originally Posted by dannno View Post
    Do you know how to read?

    Why do you post $#@! from authors who are completely retarded?



    So people will be able to use their digital assets, like bitcoin, at starbucks, convert it directly to cash, to buy coffee.

    From a consumer standpoint, is this ANY different from accepting bitcoin itself, then turning it over to a third party to convert to cash on the starbucks side, rather than right before the transaction? No.
    Zippy added nothing that wasnt already in original blog post and the you tube- The OP and video make the point that Starbucks isnt "accepting" bitcoin but facilitating the acceptance of bitcoin. The real point was in the analysis as to WHY Starbucks is involved in Bakkt in the first place
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  6. #5
    Few people actually spend bitcoins anyways.
    Donald Trump: 'What you're seeing and what you're reading is not what's happening'

    "Truth isn't truth"- Rudy Giuliani

    Quote Originally Posted by NorthCarolinaLiberty View Post
    I didn't actually read any of the thread. I now mostly just come here to mess with Zip.
    I am Zippy and I approve of this post. But you don't have to.



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