Bitcoin Forum

2000 vending machines were set up to accept bitcoin as payment for Coca Cola products on Australia and New Zealand. This is possible with regards to the Partnership of Coca Cola Amatil with Centrapay - A digital asset integrator which signed a contract with CCA to use their Sylo Smart Wallet (https://www.sylo.io/wallet/)


I am hoping to see the adoption extend through out the entire globe. Do you think this is a good start as adoption for bitcoin? Im thinking if many bitcoin holders will used it for this simple product. Wondering if the  transaction fee also is worth it on a one tin can Coca Cola drink.

On the fee side I think you'd just load up your centraoay account. So if you're going to spend $30 in a month you can put that on there in advance and pay $0.03 in fees or something.

I have more issues with the qr code scanning idea, why can't they use nfc like visa contactless, surely that'd make more sense (especially if they're not using lightning)?

Id present a problem of them just offering beverages this way which might be a bit of a limited market (as opposed to offering food) but vending machines are always pretty expensive when compared with shops and sometimes cafes.

No, bitcoin holders are not that stupid to spend their precious BTC just to buy Coke in a vending machine. And they are trying to promote "Sylo - Smart Wallet & Messenger" - available in Google Play https://play.google.com/store/apps/details?id=io.sylo.dapp&hl=en. But just look at the reviews. Hmm...

Something like this is always beneficial and good for bitcoin. We rarely see this kind of innovation and adoption somewhere in the world. This is a very good initiative for Coca Cola and those partners that they have in ANZ.

There will be a fee and expect it but a cents of fee? I don't think that will hurt bitcoin users paying a drink of coke.

Fantastic news! That and the info about Fidelitys research are huge developments for global mass adoption. Fideltity info: https://cointelegraph.com/news/one-third-of-institutions-have-invested-in-crypto-says-fidelity
The more use it the better

This should be advertised so that people will know that bitcoin can be used in a transactions like this. Coca cola is a big company and if people find out that they are accepting bitcoin, this will become the best way for us to help its promotion in every country that have a Coca cola company. I know it is not that easy but things will put into its place once there is a good start like this.


Fees are for taxes that they are paying to the authority and it is really not that expensive because if the fees are higher just to drink a coke, people will not waste their money into that. So Coca cola company will become more popular and effective in their business because of the right decision that they made toward bitcoin.

Maybe this is a good start to promote bitcoin at all, because how? if not his kind of ways? But to think the fee to spend for small amount uhmmm  ??? unless Coca Cola Company offer minimum order to use bitcoin, because surely if payee just put small amount to its transaction fee then I guess it will took days for Coca Cola receive the payment. But I believe that this company knows the good reputation and how bitcoin works that is why they engage to this kind of strategy. :)

Cheers for Coca Cola, hope to here more about the progression of this, of how many people avail drink using bitcoin thru vending machines.

Bitcoin is not used only by holders and the point of Bitcoin is not just holding it indefinetely in some wallet.
Spending Bitcoins is not stupid. It's only up to every user to decide what is for him worth spending Bitcoin for, is this a Coke from the maschine, new computer or something else, it's actually not relevant.
Anyway, every promotion is good for Bitcoin although I don't think it's crucial  for better adoption, that is far more complex question.

We don't know, maybe bitcoin holders will try just for the experience, but we don't know if they are wiling to download the wallet though, it's a different story. This is just like using bitcoin atm, the fees are high but there are still bitcoin enthusiast who still uses it.

I wouldn't say that this is closer to adoption, but definitely, seeing a BTC logo in a Coca-cola vending machine is unusual and might excite no-coiners. So I still consider this a good advertisement more for bitcoin than Coca-cola.

No need to but if Coca-Cola will add this feature to their ad, then that's another exposure for bitcoin. They just didn't helped bitcoin through accepting it but also gave an airtime.

I'm thinking about the transaction fee and it's not that much as far as our concern.

Coca cola is really a big company and as they accept bitcoin now all the crypto holders will be very grateful.I just waiting to see a news about our country that a big company accepts Bitcoin.

This is likely a promotion of the wallet than Bitcoin, though it may help the adaption not because people could actually choose to pay with Bitcoin, but for the people to be aware of Bitcoin's existence.
It's really smart move for this wallet to partner with one of the biggest company in the world. I doubt not so many people will be interested in paying with Bitcoin, even the crypto investors. It will be good at first, just to feed the curiosity. But then again, this is like a promotion for the wallet, but the good thing is, It can boost the Bitcoin adoption.

The crypto world has changed so much compares to what it was back in the year of 2017. So this time, and such a news has not shown any kind of effect to boost the bitcoin price. I remembered back in 3 years ago, such a same news usually caused massive FOMO effects, go-to-the-Moon, and it was right not only for bitcoin but also for all altcoins back in those months. It is a very sweet memory.

Nowadays, in 2020, such a news has lost its FOMO effects. What I want to say is in the next few days, at the coming weekend or the very early hours of next week, bitcoin will see a very flash crash. I guess it will be crashed downward to the range from $8500 to $8900. Stay tuned for the coming crash of Bitcoin.

I hope they would extend to other countries as well. I am already thinking that this would quickly be a thing to places that is a bitcoin hotspot like Vancouver or Amsterdam, maybe Japan as well. Vending machines are not that popular in our country so I don't think this would be that popular here though it might advertise bitcoin and invite more users.

Im willing to spend it sometime if this will be available on our country. What's wrong on spending some bitcoin? Is not that Satoshi wants? Use bitcoin on massive adoption? Those who are thinking of wasted fee about this, is not concern on adoption even with little ways but only the profits of holding and checking when btc would increase. Is that so?

Innovations comes with perks and drinking tin can for pur btc would not hurt a bit dont you think?

^ It will give promotion as well to bitcoin but I think some holders did not spend their Bitcoin for the coca-cola product. But there are some people who want contactless payment and with the same value of fiat to bitcoin, bitcoin is good for payment method purposes.
Nevertheless, this is a good opportunity that bitcoin becomes well known and begins to be on the mainstream. If all countries have this vending machine for sure everything went good in the crypto sphere to shine.

A massive advertisement for the crypto world this would be. The only problem that I see is that, will the Bitcoin holders want to use Bitcoin to buy their products??

Yes Bitcoin has made for spending since it is considered a currency but would you want to spend your Bitcoins into a product where your transaction fee when you buy it is higher than the actual price of the product that you will buy?? Would you like to pay 1.603NZ$ for a 12 OZ coke that costs 3.31NZ$. That is almost half the price of the product itself.

I'm not against this move by the company but aside from BTC, they should consider other altcoins too as an alternative :).

This is so cool,i am a Coca cola lover so if this happen in our country  ,for sure i will certainly use my Bitcoin most of the time.for now i can only use my Bitcoin in Paying electricity bill and also Buying Load for my Data .
japan as a crypto adopting country?i believe that this is already available on that country mate,and i believe this is not impossible in our days now since we are almost digital in almost everything we need.

and hoping also that this is not only for cocal cola but in all available drinks in vending machines.

Wow!! That's a very good news for crypto lovers i think. I think this is a milestone for crypto and another big big company will try to accept crypto from this moment. Actually those who are crypto lovers was waiting for long long days like this kind of news so that world economy will now try to think another way about their transaction system.

thanks.

Looks like another Bitpay-like company with stupid fees, poor user experience and generally anti-consumer behavior. If Coca Cola accepted Bitcoin directly, that would be truly remarkable, but in this state it's not that interesting.


The fees can also be as low as a few cents, but generally yeah, it's a bit annoying that one day Bitcoin is totally usable for even small transaction, and the other day the fees are suddenly high. Only Lightning can change that, so let's hope for faster official release and adoption.

It's great that the adoption by retailers is increasing, but I don't particularly like that in order to pay for Cola with BTC one has to use a basically no-name wallet specifically. Not to mention that as an intermediary, Centrapay probably collects additional fees or something like that. Another thought I have is that Cola is exactly the kind of thing that is not likely to be bought with Bitcoin. It costs less than a dollar, so transaction fees can be ridiculously high in percentage, demotivating to spend BTC on such a small purchase. Add here the service fees of Centrapay and you get an even bigger embarassment of Bitcoin as a payment option...

Well it is a very good news for us since the coca cola are accepting bitcoins as a mode of payment on their vendo machines in some countries because it can be a big help for us to mass promote and mass adapt the crypto world. More people will more likely to join here and study what is all about crypto and bitcoin since it will be a part of their lives whenever they buy softdrinks on that particular countries.

I think that it is a very cool news that coca cola started to accept Bitcoin in Australia. It will be better that it will accept Bitcoin all over the world. More shops accept Bitcoin the better is.

Double-check the news before launching yourself in an investigation, it's not Servo is Silo
https://www.sylo.io/wallet/


Yeah, some BTC  holders are far more stupid and they think that simply holding their coins and not spending a satoshi will make them rich.
If nobody is interested in spending them and selling them, there is no usage, there is nobody buying them, there is no utility, it's value will plunge to zero.
Why do you think that bitcoin is the leading currency, because of hoarders? No, because every place that deals with cryptos deals with BTC


My post from the press board:

Well, the company in question is really a big company but those who will buy their products might have a rethink before they do that. Bitcoin to be used for their products will either make a buyer to loose or gain on the deal. Personally, I won't buy coca cola for bitcoin because I will be sleepless when that happens, bitcoin is too precious to be used for coca cola in my own view.

Bitcoin may be heading to its ATH price and even surpassing it with the interest from major companies of the world. Last time the price of bitcoin was driven by speculation and a rush, this time, it will be mass adoption like we have started seeing. Coca-Cola is an household name in the nations of the world.

I consider 2000 vending machines that can be used to buy Coca Cola with bitcoin is a very good promotion method. Although the transaction
costs are quite high, it's a good idea to increase the popularity of bitcoin and Coca Cola. This is interesting for people who are not familiar
with bitcoin see the bitcoin logo found on vending machines. In the end they became curious and find out about bitcoin, a fairly effective
promotion method.

Don't spend all your Bitcoin on Coke :P
But if a company accepts Bitcoin as payment, I reward them by buying their product if I can.
We won't get adoption without actually using Bitcoin.

This is good news and the first I’m seeing today. I don’t know about this Centrapay, so I will have to research and read about them so I can understand how they are integrating Bitcoin for payment. This is something that has been difficult to achieve. If truly Centrapay can solve this issue, then we should be looking forward to a wide adoption because a lot of companies will start adopting Bitcoin payment and displaying it on their platform.

And as for choosing to work with Coca-Cola? That’s the coolest thing ever. Coca-Cola is like the biggest beverage company, imagine how many people are going to be buying from that vending machine and getting to know about Bitcoin.

I did some work for Sylo, principally as a low-level consumer consultant for the local market (NZ).
Glad to see that they are pulling this one with the vending machine and coca cola !

I'll look around for btc compatible machine, and will definitely use them even if i'm not thirsty.
you gotta create the market if you want the market to expend.  



IT appears to be part of "centrality (https://centrality.ai/)"

It's raelly a good newsbecause Coca-cola is a big company that is one of peoples favorite beverage.This is a good start in adoption of bitcoin in Australia and New Zealand if people will patronize it and the transaction fees is just fair. Hoping to see this bitcoin usage  improvement in other countries.

We have seen many development with Bitcoin's adoption such as Italy accepting it as payment. For a whole nation to make it legal is very bullish and now big companies started to accept it. Step by step Bitcoin is getting recognize with global turmoil caused by covid19 it has gotten popular even in google searches.

This recognition coming from bigger company will bring impacts that create interest from more businesses around the world,
with this development bitcoin will benefits.
A good sign for each investors and traders who are still inside this industry as time goes and more established businesses that
will adopt the system and use it for payment transactions.
Expect that from this good start, spark will be there and value will slowly rise high with good support barriers as there's usages
that will keep the cycle to continue moving forward.

You are right, I have also seen today in several media sources stating Coca-Cola on the Asia Pacific continent, can be bought and sold with Bitcoin, maybe things happening in Australia are also likely to be enforced in several other coun:
for example:
source: Australians and Kiwis Can Now Buy Coca-Cola With Bitcoin (https://btcmanager.com/australians-kiwis-buy-coca-cola-bitcoin/amp/)

Over 2,000 Coca-Cola Machines Now Accept Bitcoin in Australia and New Zealand (https://news.bitcoin.com/coca-cola-machines-accept-bitcoin/)

I have not read in detail how much Bitcoin costs, which must be incurred when making transactions Coca-Cola /bottles, maybe other countries also depends on other costs, however, Coca-Cola is my favorite drink from the past, this can make it easier for me to make transactions, if the cost is lower than an online motorcycle taxi.

damn How i wish that the vending machines here in our country will be open for using QR code and may be accepting Bitcoin a payment as well.

This means Coca Cola is extending their acceptance meaning if this can be done in australia then the whole world will follow if they found this profitable and helpful.

This is one of the best post so far that i read in this thread,supporting the Use of Bitcoin even if you are not thirsty is something that tells us how you wanted the circulation of bitcoin be continues and grows.

If ever this will be available in our country then like you i will buy coca cola in vending machine instead in grocery just to support the use of Bitcoin.

Ooops, if that's 20% that's going to be that much but looking to the conversion in centavos which is still fine for me. Well, basically that's already a lot for the fees if someone is conservative adjusting fees.
If there's one in my place I'll still take a bottle and would support it.

I wish they had a way of topping up your balance in bitcoin so that you can send a lot of bitcoin to a vendor all at once, making the size of the transaction fee pale in comparison. Then you could buy stuff from vending machines with your balance that will be free from paying tx fees. Because of the way bitcoin payments work, a lot of services are only feasible (recurring subscriptions and cheap items come to mind), if you pay in advance.

I don't think Coca-cola itself is that big or interested in bitcoin payments, after all it's one of their distributors who's partnering with a payment vendor not Coca-cola itself. Coca-cola doesn't directly sell coke to consumers AFAIK.

Yeah, that would work better for fees but it wouldn't from the perspective of your keys your coins.
As it seems sylo has no control over your wallet other than terminating your account with them, but the balance and the funds are out of their reach.

So it works more like a normal wallet, your keys, your funds, nobody can touch them so in order to be sure you actually purchase this they will have to create a transaction each time. If they would have gone the way others have chosen, like wirex for example with their card and wallet, they could have dropped the fees since those would be internal transactions, much like paypal, but it would come with a lot of complaints about people having their accounts locked with money in them, money laundering, kyc stuff.

They've chosen the fewer headaches solution for it, unfortunately, it comes...at a cost.  :D


It's the same story again, BMW accepts BTC but only though one dealership in the UK, KFC accepts BTC but only at a few shops in Canada and so on and on..
It's not Coca-cola, it's a subsidiary and they don't touch BTC they only receive NZD.

It will be better if there will be no conversion that will happen.
Like 20k Satoshi for every can of coke without changing it whether the value of bitcoin goes up or down.
But I doubt they will do that.

It will always be for profit at the end of the day.
If one will exist in our country I might try it once just for experience.  ;D

Why only once? You should support blockchain idea, make cryptocurrency circulate more. Otherwise what is the point of Coca Cola and others implementing option to pay in cryptocurrency, when everyone prefer to hold it instead of using.

I think it's a good idea to let people buy things with bitcoins. I really find myself contend about keeping in budget while travelling aboard. Not just because I don't have the money but due to hassle of currency exchange and getting an ATM that supports your card. With flights and hotels booked online, if we could implement bitcoin payment on other services, we would not need to carry cash.

I was always interested, why people while being abroad rush to withdraw local cash from ATM? What is the point of doing that? Do these people visit shady shops and are afraid to use their card there? By withdrawing local cash from ATM you lose double. First is the bank commission, second is spare change - not a single money exchange will accept coins for exchange. So generally your exchange rate is super low.

It would be beneficial if you got good gains on bitcoin isn't it? it is convenient when you bought bitcoin somewhere in $3K then you spend it in around $5K, that's almost double so I think that would be the best case scenario in spending bitcoin. So, ideally bitcoin is spendable, correct, however there are some reservations with consequences imo.

We already have credit cards for these transactions online and wired, apart from these we already have digital payment processors we have bunch of them to choose from. Bitcoin was really for investment today.

But what would be the point of waiting for an hour for your transaction to get confirmed and then have a coke instead you can pay in cash and do the same job in seconds. Although I appreciate the effort that companies are putting to accept bitcoins as a payment option and this would encourage more companies to accept cryptocurrencies as a payment in the future too, as coke is one of the oldest and most trusted companies still surviving today.

It is always good to have adoption. Though the article says the users have to first install the "Sylo smart wallet". This should only be optional and users should have the freedom to pay BTC through any method they want. Even the partnering payment processor, Centrapay would benefit more if they were to just take responsibility of setting up an open payment method at the vending machine end and not restricting the user to install a separate wallet for it.

You do all the partnership, marketing thing. You put in the hard work to get yourself a deal with coca-cola executives and then shoot yourself in the foot with a restrictive wallet service. When will business people learn their open source lesson? Still, good news. One step at a time.

This is one great initiative from Coca Cola company that surely now realized the advantage of Bitcoin towards their business.

From papajohn's pizza,to KFC chicken and Starbucks coffe (of course theres other more) now the most popular soda company in the whole world are accepting Bitcoin in New Zealand and Australia ?this means in the next coming years  this effect will happen also in other part of the world and finally Asia?

So I guess that Australia and New Zealand are crypto-friendly countries.
How many Australians and people from New Zealand are true Bitcoin supporters and are actively using Bitcoin to purchase stuff everyday?I don't think the number is that big,so it's not worth it to invest into creating 2000 vending machines that accept BTC payments.BTC should be used for buying more expensive stuff,like cars,real estate,electronics,clothes.
Anyway,knowing that a huge global brand like Coca Cola is supporting Bitcoin is a big boost for Bitcoin's overall image as a trusted currency.

Business is business, companies that will adopt crypto will always look for benefits, it's not unusual for this companies
to to hold unless there's an insiders that will dictate to hold.
Without any further information it will cycle in a normal ways, accept crypto then convert it to fiat value same cycle
with any payment transactions.



That's how business works, even normal people also aimed for benefits and how they can use the system to take advantages
and enjoy the profits.

I see this as a good adaption especially from a big company, it's a good way to promote bitcoin in the public. However, I don't think a lot of users will actually pay using bitcoin for one drink. If you're just planning to buy a small drink, I think it's more efficient to use a bill or coin than bitcoin.

For the holder's side, I think not everyone will personally be spending bitcoin for a can of coke but on the other side, it's a good opportunity for crypto and bitcoin itself to get recognized by the public. But maybe other bitcoin holders might try this if it's available in a lot of places since it's still nice to have this first-hand experience like using bitcoin because like this is not always available in some countries.

Hey at least its not coffee...

That said, you could always exchange with the shop owner in advance, its not like people usually interact directly with the Coca Cola company. Unless its some sort of vending machine?

Or Coca Cola wants to associate its image with a "cool millennial thing" like Bitcoin, in which case its "free" promotion (actually paid when you buy their product).

But bitcoin was meant to be used to buy things, including this. So why not?

Bitcoin mass adoption is only a matter of time. Previously, those who adopted bitcoin as a means of payment included Starbuck (a famous coffee shop around the world), KFC (the Largest Fried Chicken Company in the world), Domino's Pizza (American chain of international pizza restaurants). And now Coca Cola has begun to adopt bitcoin as well as the payment option they provide.

Companies that adopt bitcoin as a method of payment, of course, have gone through lengthy discussions. Bitcoin is adjusted to their platform so that Bitcoin can be an alternative payment.