[–] 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. '
They couldn't kill it, so they're jumping onboard. JP Morgan has their own crypto.
[–] 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.
[–] 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] 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.
[–] 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.
[–] 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.
[–] 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.
[–] toobaditworks [S] ago
I don't know how old this article here is but it shows how different countries deal with it.