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Author Topic: Starbucks, Nordstrom And Whole Foods Now Accept Bitcoin  (Read 886 times)
lionheart78
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May 14, 2019, 05:52:36 PM
 #21

If it is true it is really a very good news because these are the big Industries accept Bitcoin normally payment then they will be definitely possible to get the future to the people get paid with Bitcoin easily.

It is true, this was made possible by Gemini and Flexa.

Quote
Buying the Bucks
Through Gemini and Flexa users can essentially buy coffee with Bitcoin as easy as using any fiat currency by flashing their smartphone with an Apple Pay-like app.

The payment works via Flexa’s Spend mobile app. Once you install the app on your smartphone, you the proceed to send some crypto to your wallet. The app supports a number of cryptos including the obvious ones like, Bitcoin and Ethereum. It also supports Zcash, Bitcoin Cash, Litecoin and the exchange’s native dollar-pegged stablecoin, the Gemini Dollar.

Source: https://ethereumworldnews.com/starbucks-finally-accepts-crypto-along-with-wholefoods-nordstroms-and-others/

The apps used is called Spedn.

Quote
Spedn is the first app powered by the Flexa Network, an ethereum-based payments network similar to Visa or Mastercard, but for spending cryptocurrency. To build on the network, Spedn and others are required to lock up its native flexacoin cryptocurrency as collateral. “The apps need to pledge within the network to allow their apps to spend,” says Spalding.

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May 14, 2019, 07:47:09 PM
 #22

This could explain bitcoin's recent price spike.

At the same time this news broke, Bakkt also announced they were launching futures markets in July. A double whammy!

For anyone who remembers discussions from years ago about bitcoin going mainstream: bitcoin reaching a critical point of mass adoption to where you could literally purchase a cup of coffee with it. That day may finally have arrived. History is being made! This has to be one of the biggest and least covered events to ever occur in the history of crypto currencies.

Oddly, it seems like the retail companies are being extremely hush-hush about it:

Quote
The problem is, Starbucks, along with every single one of a huge group of giant enterprises now accepting cryptocurrency as payment, seems to be having trouble admitting what they’re doing. As a photograph of the receipt for the transaction was taken, one member of the Winklevoss entourage recommended that Cameron cover up the Starbucks logo with his thumb. “They’re not participating in the first announcement,” she reminded Cameron.

In the days that followed, neither Gemini, which is custodying the cryptocurrency, nor Flexa, the company that built the app and signed up the enterprises participating in today’s launch, were able to get any of their own clients to confirm via email, yet alone talk on the record.

What's up with that?

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May 14, 2019, 09:13:46 PM
 #23

If there's a major btc price crash,all those big brands will start cancelling bitcoin payments with the speed of light.
I don't think so. These developments are the result of months and months of behind the scene negotiations, hard work, etc. This pretty much means that they started when we were bottoming out.

How much worse can it get? At most we see a sharp selloff taking the price back to $6000 or maybe test the $5000 mark, so what? With the block halving coming up that will prove to be a super entry point.

What we have seen this month is a glimpse of what we can expect moving forward. It's a clear signal that the market sentiment has shifted and the improved charts make institutions like Bitcoin as asset.

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May 14, 2019, 09:41:47 PM
 #24

Now we have the reason of the price spike on crypto ,
It is a great news for us who are waiting for crypto currency to be recognize and be able to use it as a regular currency.
This is why we have new investors in crypto because of this great news .
This can be the reason of the recent pump but a news like this deserve a more expensive bitcoin. Starbucks is a great company, i do love their coffee and I hope they will implement it on all their branches around the world. A new investors can influence the market, and we can see a more expensive bitcoin.
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May 14, 2019, 10:12:37 PM
 #25

What i think is , the only reason it was successful was because of Lightning network.

It actually enabled payments to be made in an instant and also , it's like Making payments with a credit or a debit card therefore it is actually very convenient and at the same time more and more wallets are now integrating it with their software.

I just hope more security would be added in the network.
It's not instant. As far as i know, lightning software still in the beta and not all of the nodes are using LN. LN will not solve the big problem of bitcoin with its scalability and i was feeling doubt about that. Maybe it can be even faster than before but i doubt if that will create an instant transaction for bitcoin in the future.

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May 14, 2019, 10:35:28 PM
 #26

Now we have the reason of the price spike on crypto ,
It is a great news for us who are waiting for crypto currency to be recognize and be able to use it as a regular currency.
This is why we have new investors in crypto because of this great news .
This can be the reason of the recent pump but a news like this deserve a more expensive bitcoin. Starbucks is a great company, i do love their coffee and I hope they will implement it on all their branches around the world. A new investors can influence the market, and we can see a more expensive bitcoin.
I found many coffee shops here, and this shop is popular because it offers various types of coffee from all over the world. I am very happy that big companies are starting to look at bitcoin and I think this is a brilliant achievement, more and more people believe and are comfortable transacting with bitcoin. and coffee is an important part of this promotion throughout the world.

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May 14, 2019, 10:50:01 PM
 #27

I guess this is the cause why Bitcoin price rises too fast within a week. I think these Food stores realize that the bull market is really coming and they want to join with the hype. But i wonder if they would last for a year or two because some of these businesses who accept crypto are quitting because they can't handle the bearishness of the market.



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May 14, 2019, 10:52:38 PM
 #28

That's great, it's a good start of accepting crypto, but we need acceptation of other faster altcoins like ETH, TRX or EOS. i would be better for payments for coffee or micropayments.

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May 14, 2019, 11:01:39 PM
 #29

Now we have the reason of the price spike on crypto ,
It is a great news for us who are waiting for crypto currency to be recognize and be able to use it as a regular currency.
This is why we have new investors in crypto because of this great news .
This can be the reason of the recent pump but a news like this deserve a more expensive bitcoin. Starbucks is a great company, i do love their coffee and I hope they will implement it on all their branches around the world. A new investors can influence the market, and we can see a more expensive bitcoin.

Starbucks branches are located across the globe, and when one branch tested this crypto payment as successful, it will be a domino effect.
The mass adoption is really growing everyday. And I believe, not only Starbucks are considering this step-up.
More and more establishments are considering bitcoin as one of their payment methods. It is only a matter of time, when will they fully implement such plan. But I bet, they are already working behind the curtain.

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May 14, 2019, 11:18:58 PM
 #30

Just went to the Starbucks just around the block and the store manager didn't know about such news just yet, and perhaps only the higher-ups of the said company know about this and the information is yet to be disseminated. This might help me with my caffeine addiction and to uae my bitcoins finally on something sensible for me. I just hope that they don't pull the silent takedown of crypto payments once bitcoin again find its way towards the 'dying' part of this pump.




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May 14, 2019, 11:19:22 PM
 #31

Not only is the advantage for Bitcoin a good transaction tool by applying it in such large places and it may now be a question mark because when they survive but we still hope to run for a long time and so on, the news is regrettable as it appears in very good conditions it's okay maybe now there is a way to adopt Bitcoin as a payment tool, we only support what happens and hopefully it becomes a reflection for others.
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May 14, 2019, 11:30:38 PM
 #32

If there's a major btc price crash,all those big brands will start cancelling bitcoin payments with the speed of light.

What makes you think they care about the price? Has any company said they'll actually be holding onto coins, like Overstock? I assume most (or all) of them will be settling to fiat through Gemini.

I'm impressed Gemini can support this. These are huge retail chains. Gemini's books aren't very deep....but I guess they have access to OTC liquidity too.

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May 15, 2019, 02:22:49 AM
 #33

Just went to the Starbucks just around the block and the store manager didn't know about such news just yet, and perhaps only the higher-ups of the said company know about this and the information is yet to be disseminated. This might help me with my caffeine addiction and to uae my bitcoins finally on something sensible for me. I just hope that they don't pull the silent takedown of crypto payments once bitcoin again find its way towards the 'dying' part of this pump.
New software is rolled out all the time without lower managers being aware of it, eventually, they'll get the materials required to "modernize" their system with the current mission statement.

However, back on topic, that's actually pretty insane news to hear. People are now actually going to be able to purchase essential products with their Bitcoin, and that's a big step for overall adoption. I don't think that there have previously been companies which sell products like food and accept Bitcoin at the same time. Slowly but surely there will be people who clue in on this and begin to explore their other options.

As for OP talking about this news is a possible reason for the spike, I'd be inclined to believe that. It's not insider trading when you start buying more of the currency that someone will be creating a demand for. Or, at least, I don't think it is. Someone can probably correct me. Anyone with inside knowledge that this announcement was coming could definitely have purchased a bunch of Bitcoin in anticipation of the announcement, and that kicked the market back into high-gear. Interesting stuff either way.
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May 15, 2019, 03:33:54 AM
 #34

If there's a major btc price crash,all those big brands will start cancelling bitcoin payments with the speed of light.

What makes you think they care about the price? Has any company said they'll actually be holding onto coins, like Overstock? I assume most (or all) of them will be settling to fiat through Gemini.

I'm impressed Gemini can support this. These are huge retail chains. Gemini's books aren't very deep....but I guess they have access to OTC liquidity too.
I think this has a lot to do with prices. they accept cryptocurrency payments, of course, considering price fluctuations. and I thought it happened because they believed that crypto would be used as a currency, on the other hand it was good for crypto development

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May 15, 2019, 07:55:06 AM
 #35

Good news, the adoption is getting better, we will surely hear more good news this year as giant company are starting to adopt in crypto.
This bullish trend will be well supported with big good news, it will not dump anymore.




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May 15, 2019, 08:09:22 AM
 #36

Now we are gradually getting there, all haters who think bitcoin will not get much adoption this year can really see the speed at which a lot of retail companies are coming up integrating bitcoin as payment processor.

We can see how fast the price of bitcoin will continue to increase even without bull run with these types of companies that will be able to keep the market at a very uptrend. Now I am adding this to the list of all projects that I have compiled that will implement bitcoin payment this year and when I am through with the compilation, I will probably post it on this forum.

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May 15, 2019, 09:26:21 AM
 #37

There are multiple reasons for bitcoin's price spike, and yes, more retailers accepting bitcoin is highly bullish. This is contingent on the infrastructure of bitcoin and other cryptocurrencies continually being improved. It seems institutional buying and bear fatigue are underlying this bull market.
more giant retailers accept bitcoin , mass adoption will happen.it will create new demand for bitcoin from these retailers consumer.for them using bitcoin as payment give 2 advantages.as investment platform and also give them effectiveness so they no need to bring money in huge amount.
Sometimes, these type of news can be hidden in the web, because I have been trying to research on things that could be mooning the price of bitcoin wherein I found nothing of this on till I got this one on this great thread, this could be some of the reasons why bitcoin price is really is surging.

I knew that we will have lots of this retailers establish bitcoin payment in their business this Q2 because most of this companies had used First quarter to deliberate and also prepare the implementation method, so more of these type of projects that will create mass adoption is still on its way, and I wonder why people don’t constantly broadcast of things like this, we need it so it can quickly get us to the FULL MOON.
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May 15, 2019, 10:04:03 AM
 #38

If there's a major btc price crash,all those big brands will start cancelling bitcoin payments with the speed of light.Yeah,we all know that such news spread optimism across the crypto world,but I know how manipulative those compnanies are ,in terms of marketing and PR.


Well, I think it is the other way around because I still remember when Steam cancelled payments on btc because of the expensive fees when making a very small purchase of games. I know it was around $20k and they realized it was not feasible for their digital market. I wish those that are mentioned above hopefully don't do the same.
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May 15, 2019, 10:36:27 AM
 #39

The news is really great, but there are only a some questions about reporting to regulatory bodies. This is especially true of the United States. But I think that the management of the companies has already provided for these questions and prepared a way out of the situation so that there would be no problems with the tax authorities. I can’t wait until all the major online stores start accepting Bitcoin and other cryptocurrencies for payment. Hope this time will come very soon.

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May 15, 2019, 10:42:45 AM
 #40

If there's a major btc price crash,all those big brands will start cancelling bitcoin payments with the speed of light.Yeah,we all know that such news spread optimism across the crypto world,but I know how manipulative those compnanies are ,in terms of marketing and PR.


Well, I think it is the other way around because I still remember when Steam cancelled payments on btc because of the expensive fees when making a very small purchase of games. I know it was around $20k and they realized it was not feasible for their digital market. I wish those that are mentioned above hopefully don't do the same.

yes you maybe right because i heard that steam replace btc with litecoin but i think its not only the expensive fees is thier issue but also the volatile nature of bitcoin as well  . bitcoin is too unstable , while litecoin is more on a stable side  . anyway , this is another good news if starbucks really accept bitcoin payments  , i know that starbucks is a big and popular brand but i didnt recognize the the other two   .
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