Starbucks May Allow Customers to Pay for Coffee with Bitcoin

[Megalith]

Starbucks has teamed up with Microsoft, Intercontinental Exchange, and BCG to launch a new platform called Bakkt, which will allow customers to store digital currencies and use them to buy items in stores. "It's very big news for bitcoin because people say, 'Where can you spend it?' Now at every single Starbucks," said Brian Kelly, founder and CEO of BKCM.

Cryptocurrency skeptics have challenged its use for payments because of its volatility. Bitcoin for example, has dropped by roughly 50 percent this year, and its value often changes by hundreds of dollars in a single day. But with Starbucks taking cryptocurrency seriously, it could help bitcoin break through as a mainstream currency.

 

[Snakebyt]

they could take monopoly money, still wouldnt pay what they want for a cup of coffee..

 

[Exercate]

Wow, virtual coffee for virtual money!!!

 

[Babbster]

Is it possible that they're simply willing to take the risk because their products have high profit margins? They can afford to look at the potential upside of volatility.

 

[seanreisk]

If I was charging $4.50 for a muffin I'd let them pay me with cans of motor oil and Red Lobster gift cards.

 

[MATRIXSHARK]

It's a start.

- Some people got into Crypto for the novelty of it... mining, peer to peer payments, etc..
- Some got into it for pure speculative profit seeking.
- Others got into it because someday Bitcoin may transcend all Fiat and BECOME MONEY.

The more places that accept it directly, The closer to that last reality we get.



p.s. I can imagine a day when an average home is being marketed at "0.5 BTC" .. and that Title to it may just be an Ethereum smart contract.

 

[EchtoGammut]

Most Lamborghini dealerships have accepted bitcoin, it's good to see some more burnt products available.

 

[RealBeast]

It's a start.

- Some people got into Crypto for the novelty of it... mining, peer to peer payments, etc..
- Some got into it for pure speculative profit seeking.
- Others got into it because someday Bitcoin may transcend all Fiat and BECOME MONEY.

The more places that accept it directly, The closer to that last reality we get.



p.s. I can imagine a day when an average home is being marketed at "0.5 BTC" .. and that Title to it may just be an Ethereum smart contract.

Sorry ma'am, but you're on the street. Your house funding was stolen from the exchange this morning.

 

[Krenum]

Let me know when Waffle House takes Bitcoin.

 

[MMitch]

Doesn't each transaction cost more than a coffee ? I guess there's way around that ?

 

[Krazy925]

How can they do the checks fast enough to take bitcoin?

 

[kandrey89]

LOL, pay for coffee with a $5 transaction fee, ROFL...

 

[_l_]

What I'm wondering is, what are the tax documentation requirements?

 

[_l_]

- Others got into it because someday Bitcoin may transcend all Fiat and BECOME MONEY.

The more places that accept it directly, The closer to that last reality we get.

and meanwhile the US Federal Reserve will just sit back and watch?

Better save ALL your mining profits ... you're gonna need them to buy that first aircraft carrier and standing army to protect your new-found wealth.

PS: interesting the timing of this. Did Jensen give Kevin a call or sum'tin to try to get the mining craze going again?

 

[Betaboy1983]

If I was charging $4.50 for a muffin I'd let them pay me with cans of motor oil and Red Lobster gift cards.

I think that... is the quote of the week!

 

[HockeyJon]

They should troll everyone in the community by only accepting Bitcoin Cash.

 

[RiPpLeeFFecT]

They should troll everyone in the community by only accepting Bitcoin Cash.

I like your style