There’s a ton of ways to spend your Bitcoin. But who doesn’t love a coffee in the morning to start your day off? Especially when you can save money with Bitcoin wallet purchases of Starbucks coffee. How is this possible? Read on to find out where to get discounts on coffee with cryptocurrency.
Best Bitcoin Wallet Coffee Stores
Some uninformed people have claimed that you can’t buy coffee with Bitcoin. Maybe we will prove them wrong. In fact, it’s extremely simple to pay with BTC. The article claims that people will transmit transactions over the blockchain for coffee with Bitcoin. The truth is though, that not everything needs to be stored on the blockchain. It’s far better to use a medium between Bitcoin and merchants to better connect people, and speed transaction times up.
This is why big startups like Gyft and Foldapp offer users a ton of discounts on varying stores. Gyft offers discounts on a variety of retailers like Under Armor, while Foldapp is offering Starbucks discounts for Bitcoin wallet coffee buyers! Just by having a card, users get a 5% discount on purchases.
Loading the Bitcoin Wallet Coffee Card
At FoldApp’s user panel, hit the load BTC button. Send the necessary funds to the wallet, and wait until confirmation occurs. Next, go to your favorite coffee shop. Bring your card with you and give it to the Barista. Alternatively, the QR code can be saved as a picture on your mobile phone. This means you don’t need a card! Present the QR code, and the payment can be automatically transferred.
This method is much faster than any blockchain direct payment because there is a third party in the middle who handles these small transactions. The whole point of Bitcoin is to decentralize money itself to prevent government intervention. This accomplishes the goal while not sacrificing precious time waiting for the next block on the blockchain. It’s common knowledge that block confirmation times average around 10 minutes for Bitcoin. This is far too long. Hopefully SegWit will be processed, or an alternative solution can be announced. Lack of growing development is preventing users from accomplishing their transactions as quickly as desired, which is affecting the long-term outlook on the currency.
Ethereum Wallet is Competing with BTC
After all, competing currencies will also compete with Bitcoin wallet to become the number one dominant digital currency. Projects like Ethereum are up and coming. Ethereum wallet applications have already been developed for nearly instant transactions. The average Ethereum blockchain confirmation time is only ten seconds, which mean they already have an edge over the competition. Regardless, there’s still the test of time that Vitalik Buterin’s Ethereum must survive to become a true competitor and rival to the dominant cryptocurrency that is Bitcoin. In terms of coffee however, BTC still has more stores available than Ethereum. The closest store that sells coffee for Ethereum wallet is an online one that has yet to become widely used. Interestingly, they also have BBQ sauce for sale as well as other yummy snacks. Cryptocurrency sure can buy a lot of food.
Ethereum vs Bitcoin for Future Payment Systems
What does a payment system need to become the best in the world? We all know the story of how technologies in the past have become widespread simply by being first, even if they weren’t close to being the best. Meanwhile, we always strive to bring the best technology to the world with the greatest impact. At the moment, it would be irresponsible to place Bitcoin as the first candidate for a global cryptocurrency. It is unlikely we’ll be using BTC in a few years time, says Circle’s CEO. Jeremy Allaire has shut down all Ethereum wallet and Bitcoin payments to their Circle site in preparation for their own blockchain coin launch. He believes we’re still far from paying for morning coffees with Ethereum or Bitcoin. In some ways, he’s correct.
He has however, shown that Ether has more potential as a global cryptocurrency over BTC because of Vitalik Buterin. He claims Vitalik is “benevolent” who is leading Ethereum wallet in the right direction. Only then can we buy coffee with cryptocurrency! However, it is not believed that this model is sustainable forever. We need to find a better way to grow digital decentralized currencies without giving all the power to one developer, whether or not they are benevolent.