Steak 'n Shake comment after accepting bitcoin for payment 9 months ago

[_act_]

There is a bear market, but the American fast-food chain see increase in customers after accepting bitcoin aa payment is what I think the post on X is all about. This is the post:

Nine months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments. Our same-store sales have risen dramatically ever since.

Bitcoin payments for Steak n Shake burgers go into our Strategic Bitcoin Reserve, which then funds Bitcoin bonus pay for our employees.

We have combined a decentralized, cash-producing operating business with the transformative power of Bitcoin.

Thank you Bitcoiners!

Some people will say bitcoin is now only used for investment but the reality is that if some businesses are accepting it, people are ready to use it in purchasing.

This is one of the good news that I like most during this bear market.

[GreatArkansas]

I am surprised by this, to see positive news for just using Bitcoin in a business, even recently Bitcoin keeps dumping.

I'm curious how they accept Bitcoin, like, are they using lightning network or anything? I am curious if they don't use Lightning network, how fast the transaction confirmation before they serve your steakburgers.

[Sandra_hakeem]

Some people will say bitcoin is now only used for investment but the reality is that if some businesses are accepting it, people are ready to use it in purchasing.

This is one of the good news that I like most during this bear market.

Bitcoin majorly suits the long-term investment plans for now, but if it must serve as a medium of exchange for Irl purchases/trading like this one, that's where the "strategic Bitcoin reserves" are needed to cushion the effect of volatility .. Although they just didn't make any specificities on that.

It's good to know that companies have taken to note the essence of having an adoption plan, and a direct reserve for further cycles ahead.

[qurbanshah02]

Some people will say bitcoin is now only used for investment but the reality is that if some businesses are accepting it, people are ready to use it in purchasing.

This is one of the good news that I like most during this bear market.

I value you because there are actually some places where Bitcoin is used in business. Steak N Stake has made the role of Bitcoin in its business quite big, sometimes they take Bitcoin instead of their burger and sometimes they reserve Bitcoin in their wallet and now they recently sent their Employee to Bitcoin in salary. which proves that Bitcoin is reaching the people with considerable growth and investment. But these good news have not affected Bitcoin much, although this news is making Bitcoin more developed. We can see businesses paired with more bitcoins like this.

[coinlary]

I'm curious how they accept Bitcoin, like, are they using lightning network or anything?

Yes definitely through lightning network.
A feedback from a customer posted on X:



 
Source: https://x.com/orddeutsch/status/1923165797163118826?s=46

You  will noticed "use a  Bitcoin lightning wallet" --on the screen and Payment Method: lightning   -- on the  receipt

[ANSEL_2.0]

There is a bear market, but the American fast-food chain see increase in customers after accepting bitcoin aa payment is what I think the post on X is all about. This is the post:

Nine months ago today, Steak n Shake launched its burger-to-Bitcoin transformation when we started accepting bitcoin payments. Our same-store sales have risen dramatically ever since.

Bitcoin payments for Steak n Shake burgers go into our Strategic Bitcoin Reserve, which then funds Bitcoin bonus pay for our employees.

We have combined a decentralized, cash-producing operating business with the transformative power of Bitcoin.

Thank you Bitcoiners!

Some people will say bitcoin is now only used for investment but the reality is that if some businesses are accepting it, people are ready to use it in purchasing.

This is one of the good news that I like most during this bear market.

There is something about using Bitcoin to make payment. It feels so right every time, maybe it's how thrill I am whenever I use Bitcoin to buy something.

Or maybe it's because I have always wanted this idea to work.

[Hazink]

This shows that there have been a lot of bitcoinners around who were just waiting for the right time to patronize them using bitcoin, since all the sales received through bitcoin are not to be spent but added to their reserve and to give out their workers' bonuses as part of encouraging them to be part of Bitcoin. They are never going to worry about value but will focus on the increasing number of customers they have witnessed since they started.

[EL MOHA]

Bitcoin majorly suits the long-term investment plans for now, but if it must serve as a medium of exchange for Irl purchases/trading like this one, that's where the "strategic Bitcoin reserves" are needed to cushion the effect of volatility .. Although they just didn't make any specificities on that.

It's good to know that companies have taken to note the essence of having an adoption plan, and a direct reserve for further cycles ahead.

I think the reason why bitcoin actually appears to be more of investment asset rather than been a currency is because of the fact that it is volatile as stated but I will say it is majorly because most countries do not actually allow the use of bitcoin as a currency yet so majorly the investors will be scared to use it that way and also most businesses are actually scared of actually publicly saying they will accept bitcoin, most of them who are actually allows the use of it usually see the flow of adopters through it even with the current volatility issue.

Volatility doesn’t seems to be an issue too in this situation as many claimed it will be, businesses just need to plan properly how to save or spend the bitcoin and they can easily beat volatility

[_act_]

I'm curious how they accept Bitcoin, like, are they using lightning network or anything?

Yes definitely through lightning network.

Yes. When it wanted to began accepting bitcoin for payment, I think everything was also explained. It is through the bitcoin lightning network.

[Sandra_hakeem]

I'm curious how they accept Bitcoin, like, are they using lightning network or anything?

Yes definitely through lightning network.

They even have all these equipments that you can make payments in one scan? Has to be on layer 2!

_{I think the reason why bitcoin actually appears to be more of investment asset rather than been a currency is because of the fact that it is volatile as stated but I will say it is majorly because most countries do not actually allow the use of bitcoin as a currency yet so majorly the investors will be scared to use it that way and also most businesses are actually scared of actually publicly saying they will accept bitcoin}

"Scared" to publicly declare that they accept bitcoin? Pardon my ignorance, but why? Is there a deeper secret that I don't know?

Volatility doesn’t seems to be an issue too in this situation as many claimed it will be, businesses just need to plan properly how to save or spend the bitcoin and they can easily beat volatility

What happens in cases when the liquidity is low? What if the company's capital is so small that it must be reused daily, and profit shared on 'general expenses'?

[Fauderz]

I'm curious how they accept Bitcoin, like, are they using lightning network or anything?

Yes definitely through lightning network.

Yes. When it wanted to began accepting bitcoin for payment, I think everything was also explained. It is through the bitcoin lightning network.

Does Steak n Shake only accept Lightning network instead of onchain?

Because, I saw a small child buying at Steak n Shake paying with bitcoin Lightning network he has been taught from an early age by parents using bitcoin.
https://x.com/speedwallet/status/1923689784158966150

Unfortunately my country prohibits accepting payments like this in any store.

[Rustam Meraj]

This is very strong show of use of Bitcoin in real world as it states that their same store sales have gone up by 18 percent since accepting digital payments nine months ago. Most changing part of this plan, in my view, is Bitcoin Bonus program that opens on March 1, 2026, that offers hourly workers a $0.21/hour bonus in Bitcoin via the Fold app.
Steak n Shake has managed to show that when used to lower dealing fees by almost fifty percent, with Lightning Network, Bitcoin is not simply risky bet, but other, a way of business speed that can beat even normal rivals such as McDonalds and Domino even when market is seen to be down.

[sleepfirefly]

I am surprised by this, to see positive news for just using Bitcoin in a business, even recently Bitcoin keeps dumping.

not so sure about the timeline but if this was months ago then bitcoin wasn’t really dumping yet or not to the level it is at right now anyway

I'm curious how they accept Bitcoin, like, are they using lightning network or anything? I am curious if they don't use Lightning network, how fast the transaction confirmation before they serve your steakburgers.

no information have been found though i see a few bitcoiners trying to buy a burger here and there

people find the news bearish because yes bitcoin is being used but people using bitcoin for burgers means that they are not keen on holding. well bitcoin is meant to be used anyway regardless if it’s bearish or bullish

[Darker45]

_{I think the reason why bitcoin actually appears to be more of investment asset rather than been a currency is because of the fact that it is volatile as stated but I will say it is majorly because most countries do not actually allow the use of bitcoin as a currency yet so majorly the investors will be scared to use it that way and also most businesses are actually scared of actually publicly saying they will accept bitcoin}

"Scared" to publicly declare that they accept bitcoin? Pardon my ignorance, but why? Is there a deeper secret that I don't know?

I think EL MOHA is referring to regulatory policies, specifically the lack of recognition of Bitcoin as a currency. There must be businesses in some countries like Vietnam, Bangladesh, and others which would've otherwise wanted to publicly announce that they accept Bitcoin payments if not for Bitcoin's illegal status as a direct mode of payment or payment method for goods and services.

[rat03gopoh]

"Scared" to publicly declare that they accept bitcoin? Pardon my ignorance, but why? Is there a deeper secret that I don't know?

Businesses will be closed, and business owners will be arrested and subject to criminal and economic sanctions^(*). This is, at the very least, a threat to our country, especially in key tourist destinations. This news became a major local headline at the time, and no business dared to openly accept crypto to this day.

*) https://coinvestasi.com/berita/kafe-di-bali-gunakan-kripto-sebagai-metode-pembayaran

[henry_of_skalitz]

"Scared" to publicly declare that they accept bitcoin? Pardon my ignorance, but why? Is there a deeper secret that I don't know?

Businesses will be closed, and business owners will be arrested and subject to criminal and economic sanctions^(*). This is, at the very least, a threat to our country, especially in key tourist destinations. This news became a major local headline at the time, and no business dared to openly accept crypto to this day.

*) https://coinvestasi.com/berita/kafe-di-bali-gunakan-kripto-sebagai-metode-pembayaran

Unfortunate, yet, I do think that the law can be twisted in any place to fit the agenda - if it's to ruin the business, the excuse will be found in BTC or not, or to have taxes that they don't pay because there is no framework for btc in the first place..

[_act_]

Does Steak n Shake only accept Lightning network instead of onchain?

Because, I saw a small child buying at Steak n Shake paying with bitcoin Lightning network he has been taught from an early age by parents using bitcoin.
https://x.com/speedwallet/status/1923689784158966150

Yes, Steak 'n Shake is only accepting bitcoin lightning network and not yet accepting bitcoin onchain payment. We have discussed this above. Accepting onchain payment would have also be good. I hope they can later have plan of accepting bitcoin onchain payment.

not so sure about the timeline but if this was months ago then bitcoin wasn’t really dumping yet or not to the level it is at right now anyway

That posts was made on the 16th of February which was just two days ago, not months ago.

[sokani]

Does Steak n Shake only accept Lightning network instead of onchain?

Yeah, Steak 'n Shake accepts payment via the Lightning Network and not onchain. Onchain payment will take a little bit of time, and the transaction fees can be costly when the mempool becomes congested. Transaction via the Lightning Network is cheaper and faster, and that's why it's preferable.

[dansus021]

Yes definitely through lightning network.

no wonder that blazing fast I am also curious since bitcoin need 10 minute to get 1 confirmation

this just my opinion but I hope lot of merchant can use bitcoin as payment I also saw a web like https://merchant.binance.com/en https://www.coinbase.com/commerce both binance and Coinbase now has merchant program that basically u can spend ur crypto in a whole not just bitcoin but other altcoin aswell

if this continue this would be great

[Fauderz]

"Scared" to publicly declare that they accept bitcoin? Pardon my ignorance, but why? Is there a deeper secret that I don't know?

Businesses will be closed, and business owners will be arrested and subject to criminal and economic sanctions^(*). This is, at the very least, a threat to our country, especially in key tourist destinations. This news became a major local headline at the time, and no business dared to openly accept crypto to this day.

*) https://coinvestasi.com/berita/kafe-di-bali-gunakan-kripto-sebagai-metode-pembayaran

The Indonesian government strictly prohibits payments using other currencies, including crypto, other countries' fiat currencies, when doing business in Indonesia, IDR payments must be made.

Crypto assets in my country are only commodity assets.

There used to be on the island of Boracay - Philippines many restaurants, hotels and grocery stalls accepted bitcoin or crypto, is it now on the island still accepting bitcoin for food shopping there?