Topic: NEW Major chain restaurant to accept Bitcoins? (Read 3290 times)

I think you have forgotten about "Green Addresses"
https://bitcointalksearch.org/topic/instawallet-introduces-new-approach-to-instant-payment-green-address-technique-32818


It's the Bitcoin equivalent of a cashiers check,  but even more secure, and easier to use.

This is cool and will be done imo. But the killer app of bitcoin is not going to be paying people who you could hand something to anyway. It's got to have to do with the fact that you can send it just as easily to Egypt as Japan as 3 miles away.

The specialtys respondent almost certainly didn't understand the risks a bitcoin payment system carries.  They probably thought it was a novel way to transfer US dollars.  I would give five to one against the "further consideration and review" leading to an actual implementation.

I think it is more or less the end game being the ability to pull out my cell phone and have a qr code that I scan or that is scanned, transaction done, less fees than credit card, the most instant transaction you can get.

Actually, yes. We don't have the Subway stamps anymore, at least in the United States. Care to guess why? (the URL will tell you anyway)
http://www.msnbc.msn.com/id/8075754/ns/business-retail/t/fraud-stamps-out-subway-sandwich-promo/

Generally, protection against fraud in this country when using cash isn't an implementation issue, it's a "going to send people with guns to your door" issue. With credit cards, the protection is subsidized by people who aren't paying their balances on time. With checks, there really isn't much protection at all. You've got to see their ID, and the retribution by a company consists of "going to put a drawing of you next to the register". Check fraud is so bad that most restaurants simply won't accept them.

Bitcoin essentially functions like a check that you have to buy hardware to accept. Confirmation time is not instantaneous, so there's no guarantee a modified handheld payment device hasn't shifted money around immediately before the purchase. You don't even check their (fake) ID! While the confirmation time is less than a physical check, it's still greater than the time it takes to saunter to your car and drive off.

Asking a restaurant to accept Bitcoins is like asking them to start accepting checks again.

I really do have to wonder what sort of advantage paying via Bitcoin has at a restaurant. You lose the speed and visible tips of cash, and the credit aspect of a credit card. Extracting money from an exchange is likely to incur more of a loss than credit card fees would, too, and without the fraud protection both consumers and vendors receive from the credit card companies.

Bitcoin doesn't need to be the end-all payment solution to have a place in the world. They've found their niche, which happens to be the Silk Road, online gambling, and anonymous purchases of data. Aside from hoping people will invest in BTC to increase the price, I don't think there's a valid reason to want restaurants to deal in BTC rather than the local currency that you all have anyway. Just because I think chopsticks are great doesn't mean I'm going to insist on drinking soup or eating curry with them, after all.

OP put up a 672 square feet bitcoin billboard by a highway. What have you done for bitcoin lately?

Very well put

mass e-mail THAT to all business owners!

Boom Head Shot!

Thanks for the tip.  I prob won't mention the Wallstreet protests next time I do it.

This.

With bit-pay, a merchant does not need to know nor care anything about Bitcoins other than the fact that it is easy to set up (NO SETUP FEES), he can expand his customer base and that the transaction fees are cheaper.

Most importantly, that he can get paid in cash just like with a credit card.

+1

People want to spend money called bitcoins.  Would a business like to take their money?  of course.

Would the business like to get dollars into their bank account like they do with credit cards?   of course.

Does the business care what the heck a bitcoin is?  probably not.  it's just something that lowers their risk and cost of doing business.  If we stick to that message, you don't overwhelm or confuse anyone.

If you all are going to be emailing these people, try to stick to just facts that represent the situation and person you are emailing only.  Don't let them know about Bitcoin users that are only in it for the politics of it all (unless you are one of them, then just try and keep the focus on Bitcoin and not your weird theories on why the world sucks).


Well done jimbobway, my above comment has nothing to do with your exchange at all, really pro.  The person just needs to understand the ability to accept Bitcoin and the ease to do so, is not going to get in the way of established business they get, it can really only bring in more.

I got a restaurant "Stacked" interested in bitcoins.  Read from bottom to top:


I am very eager to explain how bitcoin works.  Right now there are about 20+ bitcoin exchanges that convert USD to BTC and BTC to USD.  Last year there were no exchanges but bitcoin has been growing really fast.

Bitcoin derives its value from supply and demand.  There are people on exchanges that are willing to pay for bitcoins.  For example, if you go to bitcoinwatch.com you can see the current value of bitcoin which is around $4.50 a coin.  This value fluctuates since bitcoin is so new, but in the long run (maybe many years) it may become a stable currency.

Why do people want bitcoins?  Bitcoin has certain properties that people desire.  First, there will only be 21 million bitcoins in existence so in essence there is a limited supply.  Bitcoin also has little or no transaction fee compared to credit cards (where they charge the merchant a percentage fee.)  Another property of bitcoin is that it is global and you can send it to China in a hour or less.  Other methods of international payment may take days or weeks and there is an international fee.  Bitcoin, I believe, is sort of like digital gold.

I can understand why you need USD to pay your staff.  I think bit-pay.com allows you to convert any BTC daily into USD.  Again, I am not affiliated with them and I am just excited about bitcoins and it's ability to end Wallstreet dominance since it does not require a central authority to perform a transaction (no PayPal, Citibank, etc.)

Jim


On Fri, Oct 7, 2011 at 9:22 AM, brian  wrote:
Thanks Jim, although I looked at the site, I have to admit, I don't understand how a bitcoin derives value.
 
Does it have a tie to the US monetary system?  If I can't pay my suppliers and staff with it, how can I accept it for payment?
Interested in continuing this dialogue.


On Fri, Oct 7, 2011 at 9:15 AM, Jim wrote:
Thanks for your response.  Just an idea, but your business could gain some media attention if you used bitcoins.  There is a restaurant in New York called Meze Grill that accepts bitcoins and they were featured on CNN.  Also, there could be a niche market of people that would go to your restaurant to specifically spend bitcoins.  Please see this mobile checkout program:  https://bit-pay.com/aboutMobile.html  I am not affiliated with that company, but I am a bitcoin enthusiast.

Thanks for your time,
Jim


On Fri, Oct 7, 2011 at 9:00 AM, brian wrote:

Jim, thanks for your note.  I hadn't heard of bitcoins before, but did take the time to look at their site.  It's not something we support currently, but if it gains mass appeal we will certainly take a look at it in the future.  Thanks for your note.


On Thu, Oct 6, 2011 at 7:10 PM, Jim wrote:
Hi,
Can you support buying food with bitcoins?  If you don't know what bitcoins are see weusecoins.com

Thanks,
Jim

Yes, I contacted this business before Roger made this post.

this is good news. as there is bit-pay service, they don't actually need take any financial or legal risks.

Maybe the bitcoin payment service company, like bit-pay, should just follow up this news and try some pitch work.

Too bad i have Android devices  And no, spending 800$ for an useless tablet is not a good idea.

How are you a business owner, yet you don't realize that this is the exact language every business uses to brush off users with unhelpful suggestions?

+1

Be sure to mention/link to this at the appropriate time:  https://bit-pay.com/aboutMobile.html

Here is another restaurant chain that uses an iPad to order:  http://www.cbs8.com/story/15329033/ordering-up-at-san-diegos-first-ipad-restaurant

I will send them an email.