Whole Foods, Home Depot, Among Stores Now Taking Bitcoin

25 comments

  1. It’s custodial, requires some KYC, and has it’s own shit token. Looks like BitPay 2.0. Not the direction I was hoping Bitcoin payments would be heading towards. BTCPay Server and OpenNode are much better.

  2. fresheneesz

    |Author

    “merchants have by and large shunned cryptocurrency because of … its popularity with cybercriminals”

    Merchants don’t give a shit about cybercriminals. Doesn’t matter how often you repeat it, Forbes etc, it doesn’t make it a relevant thing to mention.

  3. technotrader

    |Author

    Since this needs a special app anyway, I feel like they’ve missed out on the opportunity to use lightning. That would possibly make it *faster* than CC processing.

    Also, frankly, if I’m not getting miles or the 5% cashback from Amazon Prime, and can’t fight wrong charges, I want a 7% discount for paying with Bitcoin.

  4. Zek256

    |Author

    >using cryptocurrency as an everyday payment mechanism has proved impractical because of crypto’s volatility—a wallet with $100 worth of Bitcoin at the start of the week may only be worth $80 by week’s end.

    ​

    Higher accuracy:

    using cryptocurrency as an everyday payment mechanism has proved impractical because of crypto’s volatility—a wallet with $100 worth of Bitcoin at the start of the week may be worth $1000 by week’s end.

  5. smokeone234566

    |Author

    Home depot has got to be kidding me… the one o use doesn’t even accept samsung pay or the like. How they gonna go and sprint to crypto before they can crawl with nfc.. maybe my home depot just is way behind…

  6. Noncommonsense1

    |Author

    This type of stuff really doesn’t mean a ton. The Ebay rumor is the big thing. You have millions of people that might start accepting crypto and holding it, not just a store. That would drive massive users/adoption

  7. justinjustinian

    |Author

    Y’All got any more of that …

    Spedn ‘invite’ code?

    —-

    Seriously why would they make big news about it if the app wasn’t even accessible to general public?

  8. tyzbit

    |Author

    I think it’s disingenuous to say someone is “taking Bitcoin” when someone armed with any standard Bitcoin wallet cannot transact with them. It’s also disingenuous to say that you’re paying them when in fact it’s Spedn that’s paying them from a custodial account they have for you.

    I think it would be most accurate to say “Custodial payment processor now allows you to transact with major retailers using your account denominated in Bitcoin”

  9. cointastical

    |Author

    Certainly they are not accepting zeroconf (0-conf) transactions, right?

    I’m betting this SPEDN is a custodial wallet. So you “deposit”/transfer your bitcoins to the bitcoin address given for your SPEDN wallet, and then you can use those BTC when spending at a merchant that partners with FLEXA?

  10. Rickh8891

    |Author

    Good step towards adoption, I think the more people see it the more they’re curious about it and see where it’s at. I think these small steps are vital for mainstream adoption. Years from now, it’ll be as simple as holding your phone up and Cha Ching in and out.

  11. homad

    |Author

    Spedn for ios only r.n. not to be confused with the other crypto app Spend from Canada”to configure their scanners to recognize payments from its cryptocurrency app, which is called Spedn. The customer simply holds up their app to pay. The store cashier will typically be unaware the customer is paying with crypto, while the merchant receives a real-time payment in the form of their choosing (crypto or dollars).”

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