Post
Topic
Board Altcoin Discussion
Re: Starbucks is accepting Crypto!
by
The Pharmacist
on 24/05/2018, 22:23:04 UTC
Forgive me but I fail to see how this promotes the mass adoption of cryptocurrencies.
What Zeex does, if I understand it correctly, is help you convert your coins into a gift card,
which you can then use to buy coffee. It's more or less the same as converting your coins into fiat money
in order to buy coffee. If Starbucks really wanted to help promoting crypto, it could accept direct payments in crypto.
Earlier this years one of the Starbucks' CEOs said that he didn't  believe in Bitcoin.
That's enough of a hint to me as to what their position is.
I'm skeptical too, though I confess I don't understand how this works.  Starbucks isn't interested in crypto as far as I know, and I don't suspect they ever will be--there's no coin on the market that isn't volatile as hell, and no way is a public company like SBUX going to do anything except have crypto converted to fiat first before the barista serves your latte.

Also, there's no way I'm going to spend bitcoin (or any other crypto) on coffee.  The opportunity cost is far too high, if you follow me.  I would much rather take the chance that bitcoin is going to increase in value and save it than spend it on mundane throwaways like coffee that I could spend fiat on.  Thanks but no thanks.