Starbucks, Nordstrom And Whole Foods Now Accept Bitcoin

wahyu wida

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Quote from: BitHodler on May 26, 2019, 07:27:24 AM

Quote from: RodeoX on May 25, 2019, 08:57:37 AM

Thank you for your response! I had a friend download and install the app for a look. I didn't mess with it much, but I could not find a way to load the wallet with BTC. I assume it can send and receive? It would suck if I had to buy exclusively from them.

From what I have read, there is no way to send or receive Bitcoin at all.

The way I understand it, it works with what you have sitting in your Gemini account. The POS terminal will present you a QR code to scan, where in the background the converting happens by Gemini according to the paid amount.

This means that you don't have to ask to pay in Bitcoin, and the merchant you are purchasing an item from won't ever find out that Gemini converted Bitcoin for you in the background. They receive fiat as with any other payment.

Thank you for the explanation, first I read it seemed to be able to immediately accept bitcoin, but it didn't. even so, at least with steps like this, including campaigning for bitcoin for everyday life

exstasie

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So this just got a lot less exciting. Apparently there are AML/KYC requirements to use this app.

Quote from: BitHodler on May 26, 2019, 07:27:24 AM

The way I understand it, it works with what you have sitting in your Gemini account. The POS terminal will present you a QR code to scan, where in the background the converting happens by Gemini according to the paid amount.

I'm pretty sure it's not linked to a Gemini account. Gemini is just holding custody of the currencies you deposit to your Spedn account. Otherwise yes, Gemini is converting your balance in the background when spent at the POS terminal.

Quote from: BitcoinNewsMagazine on May 20, 2019, 01:11:58 PM

according to Flexa TOS any user can only use the app to buy $100 of merchandise per week

Wow, that's quite limited. I had wondered how Gemini could handle the potentially huge volume from these big name retailers and I guess they're worried about that too.

BitHodler

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Quote from: RodeoX on May 25, 2019, 08:57:37 AM

Thank you for your response! I had a friend download and install the app for a look. I didn't mess with it much, but I could not find a way to load the wallet with BTC. I assume it can send and receive? It would suck if I had to buy exclusively from them.

From what I have read, there is no way to send or receive Bitcoin at all.

The way I understand it, it works with what you have sitting in your Gemini account. The POS terminal will present you a QR code to scan, where in the background the converting happens by Gemini according to the paid amount.

This means that you don't have to ask to pay in Bitcoin, and the merchant you are purchasing an item from won't ever find out that Gemini converted Bitcoin for you in the background. They receive fiat as with any other payment.

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Quote from: Vness10 on May 22, 2019, 06:25:37 AM

Quote from: Ailmand on May 14, 2019, 03:36:21 AM

This is huge news, this year had been great due to development and mass adaptation news. A lot of big and well-known companies are starting to accept cryptocurrency as payment. This will further push mass adaptation and it's also a good start for other companies to start upgrading their payment system by adapting crypto as an alternative payment.

That's true it's really good to every one to know this kind of news because it means many companies are appreciate the cryptocurrency and also bitcoin, maybe they know the benefit of it and the out come to the people.

Yeah this year full with suprises and adoptation of blockchain and acceptence of bitcoin really did a good job and affecting the market price really well. I do think blockchain will be really big and even microsoft are using bitcoin blockchain for identity data , yes they do know that there is a lot of benifit that could be done by bitcoin.

armarsterling7

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In the future, there will be many electronic payment approval services. You know, the $ 250 billion crypto market is being traded daily in the market and there will be a lot of investors holding lots of coins in their wallets. most traders are usually rich and they like to pay with their coins. This is really a good opportunity for services to get more customers when accepting payments with crypto.

RodeoX

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Quote from: BitcoinNewsMagazine on May 20, 2019, 01:11:58 PM

Quote from: RodeoX on May 20, 2019, 09:50:43 AM

Can someone DL this app and try it? I'm not an iPhone user.

Does it allow spending bitcoin outside of their affiliated stores? It would suck if I HAD to spend my bitcoin on Starbucks.

How much are the fees, and how are they structured? Do I pay to deposit or withdraw or spend, etc. ?

You can see a list of stores here. No user fees. I believe Flexa is just integrating their payment network with existing POS machines, those that already enable you to use your phone to tap and pay. The problem is the Spedn app is iPhone only now, not Android and according to Flexa TOS any user can only use the app to buy $100 of merchandise per week. That is better than nothing but pretty limited. Hopefully they will raise the limits once the program matures.

Thank you for your response! I had a friend download and install the app for a look. I didn't mess with it much, but I could not find a way to load the wallet with BTC. I assume it can send and receive? It would suck if I had to buy exclusively from them.

RealMalatesta

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Quote from: Whosdaddy on May 24, 2019, 01:24:52 AM

This is a good news, when people starts to know that these companies are now accepting cryptocurrency for payment, they might be interested in trying it out. But the problem as that cryptocurrency is volatile so not everyone is really interested in it, no one can just get a crypto wallet and store their money in it cause they are going to lose it unless it's for the purpose of investment and they are sure that they are ready to take the risk involved in it, which is either losing your money or making profit. PayPal is another big competition, cause no one is going to use Bitcoin as long there is PayPal given there as an option

That is exactly where the problem lies, just like you said, people who wants to use it as utility coin will never keep the coin in their wallet, the point where they want to use it is when they will convert whatever they need to pay from fiat to bitcoin, and then make payment with it without further holding it in their wallet, the recipient too will not be willing to keep it in the wallet because of its volatility which will make him convert it back to fiat.

So as money is touching the market, it might also be leaving immediately too, so what we will just be seeing is volume but we may not see much increase in the value.

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Quote from: fauzan Ichsan on May 22, 2019, 10:18:53 PM

Quote from: trickyriky on May 22, 2019, 04:26:28 PM

Quote from: Noilee on May 19, 2019, 10:33:14 AM

That is a great news, this news can attract to people to convincing invest in bitcoin. I think this a way that btc will become well-known and the popularity will spread to people. We just hoping that soon, mostly other businesses also are willing to accept bitcoin.

Yes, the greatest plus here is not the possibility to buy coffee in Starbucks for cryptocurrency now, but the confidence that such popular companies believe in the future of Bitcoin. Now, more people will invest in it.

with the growing number of large companies who want to trust bitcoin, of course it will have an effect on other companies and the public, especially those who are starbuck consumers. so the spread of bitcoin will be faster

It will also be more amusing to their customers to know that as they keep fund in their wallet to purchase their product, the value could even appreciate before they carry out their transaction, so they will always be happy to use bitcoin on a regular basis in companies that has introduced bitcoin to their payment list.

Their adoption is a proof now that every single retailer over the years will eventually get to accept bitcoin payment and they will all add it to the list of their payment which will create big awareness worldwide and increases the demand for bitcoin with time.

Daniwahyu007

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Quote from: Whosdaddy on May 24, 2019, 01:24:52 AM

This is a good news, when people starts to know that these companies are now accepting cryptocurrency for payment, they might be interested in trying it out. But the problem as that cryptocurrency is volatile so not everyone is really interested in it, no one can just get a crypto wallet and store their money in it cause they are going to lose it unless it's for the purpose of investment and they are sure that they are ready to take the risk involved in it, which is either losing your money or making profit. PayPal is another big competition, cause no one is going to use Bitcoin as long there is PayPal given there as an option

I think we should support the payment method that is used crypto, but the price is not stable but if you pay attention to the price of food it will follow for every time

Whosdaddy

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This is a good news, when people starts to know that these companies are now accepting cryptocurrency for payment, they might be interested in trying it out. But the problem as that cryptocurrency is volatile so not everyone is really interested in it, no one can just get a crypto wallet and store their money in it cause they are going to lose it unless it's for the purpose of investment and they are sure that they are ready to take the risk involved in it, which is either losing your money or making profit. PayPal is another big competition, cause no one is going to use Bitcoin as long there is PayPal given there as an option

whirlcoin

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Quote from: Ailmand on May 14, 2019, 03:36:21 AM

This is huge news, this year had been great due to development and mass adaptation news. A lot of big and well-known companies are starting to accept cryptocurrency as payment. This will further push mass adaptation and it's also a good start for other companies to start upgrading their payment system by adapting crypto as an alternative payment.

this is the beginning stage lonely we have to wait for seeing lots of changes in the payment methods and online shopping is also ready to accept the payments with Bitcoin and I am waiting for the change.

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Quote from: trickyriky on May 22, 2019, 04:26:28 PM

Quote from: Noilee on May 19, 2019, 10:33:14 AM

That is a great news, this news can attract to people to convincing invest in bitcoin. I think this a way that btc will become well-known and the popularity will spread to people. We just hoping that soon, mostly other businesses also are willing to accept bitcoin.

Yes, the greatest plus here is not the possibility to buy coffee in Starbucks for cryptocurrency now, but the confidence that such popular companies believe in the future of Bitcoin. Now, more people will invest in it.

I agree with you. They will reach more people to come to their shop, and they will promote cryptocurrency in their shop so people could start to use the cryptocurrency to buy any product they want. Besides that, the cryptocurrency will grow fast and get popular too if the company can add cryptocurrency as their payment method. And people will not just use cryptocurrency as the payment, but they could also buy a cryptocurrency for the investment.

Bezobraznike

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Starbucks seems accept bitcoin everywhere else besides my country. I think it is because of not every country is ready for such kind of turn.
Just yesterday I saw a pic of two little girls are selling maffines and accept bitcoin as well. That pic made my day. It's clear prove that somewhere bitcoin is developing and getting well known.
Hope one day such things will happen and here as well.

exstasie

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Quote from: Supercrypt on May 22, 2019, 03:31:37 PM

Maybe you guys should read the whole news first? Starbucks is not accepting bitcoin, people just found a way to pay starbucks with bitcoin while starbucks is getting fiat, the middleman there is making sure to take your bitcoin and pay starbucks fiat and keep the change that is it.

What do you expect, Starbucks to announce they are hodling all the BTC? Grin

Technically they are accepting BTC payments, just as much as they accept Mastcard or ApplePay. They just aren't holding the BTC.

It may be through a payment processor but what difference does it make to us as consumers? If you have BTC (and an Iphone), you can spend it Starbucks now. This isn't like one of these third party apps that needs to be linked to an exchange account. Customers load Spedn with BTC, then spend it at the counter by QR code.

dimonstration

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Dimon69

Starbucks in our area didn't accept bitcoin yet, they might accept crypto wallet converting into fiat app but not literally bitcoin. And I think it will depend on what country as well wallets available in that country to operate paying bitcoin via real establishments. We do hope it happens soon but not at this time that BTC still too volatile and unpredictable.

GregH37

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Quote from: Natalim on May 22, 2019, 03:08:46 AM

Quote from: Nuxxorcoin on May 21, 2019, 08:13:15 AM

You can delay the inevitable, but you can't stop. Big companies like Microsoft, IBM, Amazon and Starbucks decided to join the revolution this year to adapt to the blockchain. In terms of use in daily life in the coming years, cryptocurrency will no longer be the difference

They are giants in the business industry, therefore their effect is big, but I am not sure about amazon, do you have a source to verify that amazon is into crypto?

I am very certain that the news of Amazon is absolutely a rumor, though I believe that they will also join the cryptocurrency later when they have no choice in order to stay on top of their business game too just like the same way Facebook who usually condemn cryptocurrency is now beginning to plan the introduction of their coin too.

You know sometimes, out of rumor lies the truth too, they might not have executed any projects that has link with crypto, but I am sure there must have been an inside hint of them also exploring the possibility of introducing blockchain technology into their system.

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Quote from: trickyriky on May 22, 2019, 04:26:28 PM

Quote from: Noilee on May 19, 2019, 10:33:14 AM

That is a great news, this news can attract to people to convincing invest in bitcoin. I think this a way that btc will become well-known and the popularity will spread to people. We just hoping that soon, mostly other businesses also are willing to accept bitcoin.

Yes, the greatest plus here is not the possibility to buy coffee in Starbucks for cryptocurrency now, but the confidence that such popular companies believe in the future of Bitcoin. Now, more people will invest in it.

with the growing number of large companies who want to trust bitcoin, of course it will have an effect on other companies and the public, especially those who are starbuck consumers. so the spread of bitcoin will be faster

trickyriky

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Quote from: Noilee on May 19, 2019, 10:33:14 AM

That is a great news, this news can attract to people to convincing invest in bitcoin. I think this a way that btc will become well-known and the popularity will spread to people. We just hoping that soon, mostly other businesses also are willing to accept bitcoin.

Yes, the greatest plus here is not the possibility to buy coffee in Starbucks for cryptocurrency now, but the confidence that such popular companies believe in the future of Bitcoin. Now, more people will invest in it.

Supercrypt

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Maybe you guys should read the whole news first? Starbucks is not accepting bitcoin, people just found a way to pay starbucks with bitcoin while starbucks is getting fiat, the middleman there is making sure to take your bitcoin and pay starbucks fiat and keep the change that is it. That is why there is really no reason to talk about starbucks accepting bitcoin just yet, hell even mcdonalds app that gives you mcdonalds tokens are much more closer work towards crypto currency then what this is doing, this is kudos to winklevii twins but nothing else, starbucks is still not taking crypto, they used to but they cancelled it just like amazon and steam. If those three big players comes back to game and start accepting bitcoin directly then we are going to see another huge increase.

Vness10

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Quote from: Ailmand on May 14, 2019, 03:36:21 AM

This is huge news, this year had been great due to development and mass adaptation news. A lot of big and well-known companies are starting to accept cryptocurrency as payment. This will further push mass adaptation and it's also a good start for other companies to start upgrading their payment system by adapting crypto as an alternative payment.

That's true it's really good to every one to know this kind of news because it means many companies are appreciate the cryptocurrency and also bitcoin, maybe they know the benefit of it and the out come to the people.

Topic: Starbucks, Nordstrom And Whole Foods Now Accept Bitcoin (Read 1097 times)