My opinion on Starbucks denial of Partnership for Bakkt Proposed Project

[EscrowService28]

It is worth noticing that the announcement last two days about ICE creating an exchange with big partners such as microsoft, and starbucks was probably a way to pump but this rumbles when Starbucks denied the annoucement made. But you know media can easily hype all this potential news. What I see here is they denying it due to the fact that no legal and initial talk abouts where discussed and agreed to the mentioned companies. Here is the link of news about it.

https://cryptodisrupt.com/starbucks-not-accepting-crypto-payments/

On my opinion, once an agreement is made this will announce themeselves. I know starbucks really want to venture into crypto project and will definitely wouldnt miss it. But due to upcoming decision approval on Bitcoin ETF they had no choice but to deny the matter.

Hopefully you can some insight about this.

[eternalgloom]

This is what happens when news agencies just copy stories from each other, instead of actually doing their job and verifying the actual sources of any particular story.
In this case it was clearly poor journalism that caused this little tidbit of misinformation getting spread, but sometimes it's also the crypto companies themselves who are spreading fake rumors.

I think this case with BMW and CarVertical (ICO) says enough:



Carvertical claimed a partnership with BMW, while they were just making use of their publicly available API  

I've given some more examples in a recent blog on Steemit

[aladlanie04]

Starbucks is involved with bakkt because they have great experience with different payment solutions and can help to grow the network and explore possible use-cases for digitial assets.  i think in near future also starbucks dont accept the payment bitcoin  but who know's anything can happen in crypto industry.

[avikz]

I think it is the fake news. Because yesterday only I had checked the official website of ICE and found they have indeed mentioned the name of Starbucks that are entering into a partnership. You can check the below link,

http://ir.theice.com/press/press-releases/all-categories/2018/08-03-2018-133022149

ICE is an intercontinental exchange and not a small time company that needs more visibility by taking the names of giants. So I doubt the claim of denial.  

I have tried to search for the denial news of Starbucks but unable to see anything from a trusted source. Can you point me out to the official Starbucks news where they have said that they are not entering into a partnership?

[EscrowService28]

I've given some more examples in a recent blog on Steemit

Hello, thanks for this, by the way you think that my opinion or should I say speculation, on the latter could be possible? ICE wouldn't just announced it like that but due to garbage journalism and propaganda the news was resulting to exaggeration leading to confusion of the community.

[Pursuer]

this is what happens when people read have the stories and misunderstand that!

Starbucks didn't deny the partnership or the announcement made. they denied the exaggerated news which was saying Starbucks is going to accept bitcoin and cryptocurrency payments. otherwise there is a partnership and they have approved of that part of the news.
and in a way they are accepting bitcoin payments but it will first go through the new payment processor they are building and is turned into fiat then that fiat is used in Starbucks to pay for coffee.

[avikz]

I don't think it is the fake news. Because yesterday only I had checked the official website of ICE and found they have indeed mentioned the name of Starbucks that are entering into a partnership. You can check the below link,

http://ir.theice.com/press/press-releases/all-categories/2018/08-03-2018-133022149

ICE is an intercontinental exchange and not a small time company that needs more visibility by taking the names of giants. So I doubt the claim of denial.  

I have tried to search for the denial news of Starbucks but unable to see anything from a trusted source. Can you point me out to the official Starbucks news where they have said that they are not entering into a partnership?

Hi there lots of news are now circulating on the google but will give you this one to be more credible.

https://finance.yahoo.com/news/cryptocurrencies-advance-starbucks-denies-reports-080800765.html

This is the link of Investing.com website and not a credible source like official announcement. ICE announced it officially and I have shared the link from their website itself.

Have you found an official announcement from Starbucks? Like an announcement from their official blog or from their official twitter accounts or any official source that can be considered as credible source? Any third party website can't be considered as a credible source of information.  

[eternalgloom]

I've given some more examples in a recent blog on Steemit

Hello, thanks for this, by the way you think that my opinion or should I say speculation, on the latter could be possible? ICE wouldn't just announced it like that but due to garbage journalism and propaganda the news was resulting to exaggeration leading to confusion of the community.

It would be very difficult to prove that the announcement was made to create a pump for ICE.
It could certainly be the case, but it's pointless to speculate on it.

In any case, supposedly 'reputable' news agencies should really practice more due diligence.
Can't believe that CNBC and Bloomberg ran the story, as mentioned in the article.

[audaciousbeing]

This is what happens when news agencies just copy stories from each other, instead of actually doing their job and verifying the actual sources of any particular story.
In this case it was clearly poor journalism that caused this little tidbit of misinformation getting spread, but sometimes it's also the crypto companies themselves who are spreading fake rumors.

I would't have agreed with you if we had not been seeing something like this before and I wonder what people intend to gain on passing wrong information which would be disproved in a matter of hours. Just like what was reported few weeks back about Samsung now accepting bitcoin in some countries in the world whereas, it as a case of a particular crypto start making the opportunity available where people can buy their Samsung products with crypto while they made the purchase. I maintained that until when there is an official release from Samsung website on the acceptance of crypto there is nothing to be joyous about.

In as much as we are not pessimist to good news and developments happening around the world of crypto in terms of adoption, there is need to be truthful with news being paraded because without that, its just making credibility a scarce commodity in the cryto space and when that happen, trust is gradually being eroded which is not good for anybody.

[YuginKadoya]

If this news is true then there are many individual that are buying on Starbucks that will be curious with bitcoin then this can spread as wild fire, Or Starbucks had only done this because they want their sales to rise by using this kind of gimmick so the Cryptocurrency community would then be convince that Starbucks really supports the market of Crypto, I really think this is a great move for them to take.

[drm]

It is worth noticing that the announcement last two days about ICE creating an exchange with big partners such as microsoft, and starbucks was probably a way to pump but this rumbles when Starbucks denied the annoucement made. But you know media can easily hype all this potential news. What I see here is they denying it due to the fact that no legal and initial talk abouts where discussed and agreed to the mentioned companies. Here is the link of news about it.

https://cryptodisrupt.com/starbucks-not-accepting-crypto-payments/

On my opinion, once an agreement is made this will announce themeselves. I know starbucks really want to venture into crypto project and will definitely wouldnt miss it. But due to upcoming decision approval on Bitcoin ETF they had no choice but to deny the matter.

Hopefully you can some insight about this.

Could be, but I wouldn't be surprised if it was fully made up either, it's crypto after all.

[victorski]

It is more and more feels like just the competition between companies in the world, where are saying BMW accepting cryptocurrency before any other automotive company, also Samsung before any other smartphone company...

[perova93]

in September in America will again gather about the legality and legalization of the crypto market! on this by this time I think that the network coffee shop will be prepared and change its mind! now the main thing is faster than all other competitors to start developing faster in a crypto system!

[goldencrypto7100]

You seem confused about these two news as they seem to dissimilar. One of the news is explaining about the partnership of Starbucks and Microsoft with ICE to create a better ecosystem for crypto currencies and the other is about starbucks accepting Bitcoin as a form of payment. Both news is great and the partnership news is legit.

[easycoin995]

Starbucks didn't deny the association or the declaration made. they denied the misrepresented news which was stating Starbucks will acknowledge bitcoin and cryptographic money installments. something else; there is an organization and they have affirmed of that piece of the news.

[cryptoking252]

Not sure; whether it is true or fake news! But if the news comes true then the individual will be curious with BTC those who were buying on Starbucks. On the other hand Starbucks might do this for their own publicity to show that they support the crypto market by increasing their sales by using this type of tricky activities. Though; I think everything is possible in this crypto industry!

[zolfa]

Thank you for the information, I think that Bakkt is a small partner and does not have good popularity, Starbucks is a large and very popular company.

I agree with you that Starbucks has a big ambition to receive crypto and support crypto, but I see that Starbucks wants a great partner.

[blackandwhite89]

All news needs not to be true. Starbucks is a renowned company which is aware of their reputation regarding the word of mouth it speaks. So I don’t think Starbucks have denied entering into crypto payment system. These all are made to decrease the potentiality of crypto market.

[rsrb]

As I know starbucks is involve here because it already have lot of experience in transactin through digital currency. I think they accept bitcoin as a medium of transaction very soon.

[NyxAssasin]

I am not surprised about this news.BMW is the first automobile company which accept cryptocurrency first and Samsung is the first mobile company which accept cryptocurrency first.