[–] derram 0 points 2 points 2 points (+2|-0) ago
2019-05-13 | Whole Foods, Home Depot, Among Stores Now Taking Bitcoin | Fortune
' But, given the history of crypto payments, this week’s announcement feels like a breakthrough. '
'Spalding, who is a veteran of the gift card exchange service Raise, added that crypto payments also offer stores a way to experiment with new types of blockchain-based customer rewards. '
'Fortune contacted six of the retailers participating in the Flexa service, including Whole Foods, and none of them provided a comment. '
'The retail initiative comes via a partnership between Flexa, a payments startup, and Gemini, the Winklevoss-owned digital currency company. '
'The Spedn app lets users spend four types of crypto: Bitcoin, Bitcoin Cash, Ethereum and a so-called stablecoin called a Gemini Dollar, which is pegged to the value of one U.S. dollar and backed by banking giant State Street. '
[–] newoldwave 1 point -1 points 0 points (+0|-1) ago
How would you buy $200 worth of groceries with a bitcoin worth $6000?
[–] toobaditworks [S] 0 points 1 point 1 point (+1|-0) ago
You pay $200 USD worth of Bitcoin at the time of purchase. The App does it for you. Like at the time of this post 0.02563289 Bitcoin.
[–] toobaditworks [S] ago
The mainstream media and bankers still hate on it. But in time they will have to accept it. Like it or not.
They couldn't kill it, so they're jumping onboard. JP Morgan has their own crypto.
[–] toobaditworks [S] 0 points 4 points 4 points (+4|-0) ago (edited ago)
All the haters are about to get a reality check. This is just the beginning of mainstream adoption.
[–] SurfinMindWaves 1 point 0 points 1 point (+1|-1) ago
Can you BRIEFLY explain how it is legal to just make up currency? Every time I tried to read on it I ended up TLDR.
[–] toobaditworks [S] ago
I don't know how old this article here is but it shows how different countries deal with it.
[–] BigVern 0 points 1 point 1 point (+1|-0) ago
All currencies are made up their value lies in peoples' belief in them. People believe in bitcoin because of the technology behind it.
[–] STACKS88 0 points 2 points 2 points (+2|-0) ago
Fuck yeah, this is big!
[–] BlackSheepBrouhaha ago
How are they going to set prices in Bitcoin? Will it be a on the fly USD conversion, or will Bitcoin prices be on the shelves?
[–] toobaditworks [S] ago
Yes it will convert the USD to bitcoin. The business will not see a difference at all and will receive USD. The person buying will pay in Bitcoin. I think they can choose to accept bitcoin also but I suspect many will just receive USD.