Bakkt will partner with Starbucks for Bitcoin

[KennyR]

Bakkt was expected to make a big impact on the market. To the expectation nothing big happened, the price dropped. Bakkt partnering with Starbucks will happen through some intermediary and not directly. Till day most of the service providers accepting bitcoin were through bitpay and other services.

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[crossabdd]

Bakkt was expected to make a big impact on the market. To the expectation nothing big happened, the price dropped. Bakkt partnering with Starbucks will happen through some intermediary and not directly. Till day most of the service providers accepting bitcoin were through bitpay and other services.

Even though it's not big news, but this is good news for using Bitcoin. we know, BAKKT news about accepting bitcoin does not affect the price of bitcoin. but with the wider adoption, our hope is that Bitcoin is one of the currencies for official transactions that are used for daily use.

[BigBoom3599]

This itself probably won't have a big impact as others have said. I definitely won't waste my BTC on coffee  

However it is a very important signal that Bitcoin and crypto are being legitimised and accepted in the real world. A couple years ago, Bitcoin was a small corner of the internet that no government wanted to talk about and that they didn't want to acknowledge. This news is part of the bigger picture that crypto as actually being accepted and acknowledged as a real thing, which is very exciting IMO. Bitcoin's future is getting brighter with every piece of news

[franky1]

this news is not new.
and many people think its about buying coffee with bitcoin.

essntially people already with bitcoin put their funds into starbucks as a custodian and then people offchain can then see their starbucks database btc balance decrease the more coffee they buy.(much like buying a fiat based starbucks giftcard)

but here is the thing people are not thinking about
people with fiat can walk into town and enter a local starbucks store and buy a coffee and buy btc with their fiat

lets just hope starbucks dont charge hefty maker:taker fee's on the exchange rate, because looking at their coffee prices they charge alot of money for a couple spoonfuls of coffee bean

[rodel caling]

Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced this week it plans to launch a consumer app for cryptocurrency purchases in 2020.

U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group.

https://www.forbes.com/sites/billybambrough/2019/10/31/forget-the-halvingcould-this-be-what-sends-bitcoin-soaring-next-year/#12640c6e3062

Sounds good, meaning even if the president of United States aren't believe into bitcoin, there have a popular US company continues to support bitcoin because they know the future of digital currency this time of edge new technology. Hope that plan can help,for bitcoin become stable their price. Good luck  for this parthnership plan.

[Jating]

Do Starbucks really needs to partner with Bakkt to take bitcoin on the next level?

Why not Starbucks uses LN as payment scheme if they really wanted bitcoin? I guess both of them are just riding the popularity of bitcoin or crypto in general and this is a win-win situation. Can this affect the market price of bitcoin though? maybe, maybe not.

And someone mentions that this is not a direct P2P, so I'm assuming that Bitpay as bitcoin payment gateway, so this is like a soft adoption.

[oxgroth]

Bakkt is useless
Starbucs is much more useless
Why everybody are so happy about it?

[error08]

Starbucks huh? Is that the best they can pull? I mean... seriously. How many customers would actually purchase a cup of coffee with BTC?

Although the number is minuscule, it still the real-world usability as a mean of payment, as someone who holds bitcoin, I'll be happy to buy a coffee using bitcoin even though it may become the most expensive coffee I've ever paid in the future when bitcoin reaches $1 million.
As time goes on, more merchants and retailers will accept bitcoin, that's what the purpose of bitcoin, to become an alternative online payment.
Everyone is free to choose whether to pay using bitcoin or fiat currency.

[BChydro]

Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced this week it plans to launch a consumer app for cryptocurrency purchases in 2020.
U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group.

There are more development in stores and glad to see major development being going on from major corporate houses and they have the power to change how bitcoin is viewed around the world and if they start accepting bitcoin then the rate at which bitcoin is adopted will increase rapidly and good to see those developments undergoing before the halving.

[franky1]

Do Starbucks really needs to partner with Bakkt to take bitcoin on the next level?

starbucks didnt partner with starbucks after bakkt was released

starbuck CREATED bakkt with ice and others

[matchi2011]

Bakkt was expected to make a big impact on the market. To the expectation nothing big happened, the price dropped. Bakkt partnering with Starbucks will happen through some intermediary and not directly. Till day most of the service providers accepting bitcoin were through bitpay and other services.

There might be a good impact after Starbucks introduced the system that they will integrate their business using BAKKT to support bitcoin.
It's a good start to fuel up this BAKKT functions, it's been a while when most expectations are high with BAKKT and how it will bring more
success to more businesses to adopt the system. Hopefully it's not Starbucks alone but more well established businesses to adopt bitcoin.

[SaShiRaJaVu]

lets just hope starbucks dont charge hefty maker:taker fee's on the exchange rate, because looking at their coffee prices they charge alot of money for a couple spoonfuls of coffee bean

If they are charging a hefty price a couple of spoonful of coffee bean they will be charging a higher premium for bitcoin too, they will be implementing to show the young generation that they are following the technology and this will be another advertising strategy they will be using to promote them as well, because if they do something about bitcoin they get a free global advertisement all over the world, chat boards discussion about them and google search will be higher too, so it is a advertisement strategy in my opinion  .

[skarais]

~Skip
Adoption is progress for bitcoin, tho.  I do hope the bitcoiners who like to spend their btc will take advantage of this.  If not, starbucks will probably kill the whole thing like microsoft and some other retailers did.

Yes, I agree with you, adoption of bitcoin is a very good thing for its progress in the future. In 10 years, adobsi has increased rapidly since it was first issued and when compared to the internet, bitcoin adhesion is faster and broader in this regard. This of course is the success of the innovation and development of bitcoin itself. This statement was made by Adam Back, CEO of Blockstream who is also the developer of the "hashcash" protocol used on Bitcoin, saying that the speed of adoption of Bitcoin is faster than the adoption of the Internet.
The following Adam Back statement that I quoted from the source.

"Bitcoin is wider and faster adopted than the Internet in the first 10 years scale. This is driven by the speed of innovation and development of Bitcoin itself. Many of their ideas and applications," Back said

Source

[mk4]

Bakkt is useless
Starbucs is much more useless
Why everybody are so happy about it?

Sure. These companies' usefulness are definitely debatable(because who doesn't want coffee and institutional access to bitcoin, right?), but they don't give a crap about your opinion. People are "so happy" because this is yet another step(regardless how small) towards mass adoption. Maybe try to appreciate the small things next time.

[aysg76]

Most of the large companies are now on the way to partner with popular exchanges to adopt bitcoin as their payment option which is really good news for all the crypto lovers.Starbucks is most famous coffee brand around the world with branches all over globe and customer who like to spend their btc on such services will be happy to hear the news.This type of adoption will surely boost the prices and we might see surge in prices this year so be positive.

[hatshepsut93]

Let's hope that his one is for real, and not like the last time when there was a lot of hype earlier this year when rumors about Starbucks were floating around, and then nothing came out of it. If Bitcoin payments would indeed launch, it would mean that Bakkt isn't as bad as many people said it was. There's very little chance that big companies will be accepting Bitcoin directly, it's too much trouble for them and they would rather outsource it to companies that specialize on it.

[xiboothrezi]

Will there be Coffee day after Pizza day? I'm just kidding, just intermezzo. News like this is also not something new, but let's look at the positive impact. Of course, this is progress where the more adopted bitcoin is for payment, the closer it is to everyday life. But if asked to choose, I would use fiat for instant and small scale payments like this, because it was more effective. While bitcoin is more effective to be used as an investment tool, trading commodity, and even for payments it is more effective for macro payments.

[skarais]

Let's hope that his one is for real, ~Skip

I think this news will become a reality, increasing adoption of bitcoin will continue to be carried out by people. The more companies that adopt bitcoin, the greater chance for bitcoin to survive and provide a sense of security for investors because bitcoin is increasingly popular and efficient.

[jootn2kx]

Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced this week it plans to launch a consumer app for cryptocurrency purchases in 2020.

U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group.

https://www.forbes.com/sites/billybambrough/2019/10/31/forget-the-halvingcould-this-be-what-sends-bitcoin-soaring-next-year/#12640c6e3062

It's a good thing overall, at least when it comes to raising awareness. Also, if Starbucks starts accepting crypto, maybe others will follow, so good for adoption too. Small steps will lead us there.

[Scripture]

Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced this week it plans to launch a consumer app for cryptocurrency purchases in 2020.

U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group.

https://www.forbes.com/sites/billybambrough/2019/10/31/forget-the-halvingcould-this-be-what-sends-bitcoin-soaring-next-year/#12640c6e3062

This is the first time I see good news with a huge company after my long vacation in cryptomarket. I recently got scammed and left the market behind but its good to be back again and its good to know that Starbucks will soon to accept bitcoin. There are times that we doubt this market but in long run bitcoin will still fly high. Now I will work hard again and do save more bitcoin, I will probably do this right now before the bull to come.