Yeah, we’re in a bear market, but it looks like this American fast-food place is actually getting more customers since they started taking bitcoin. That’s what I’m getting from this post I saw on X:
A lot of folks think bitcoin is just for investment these days, but the truth is that if some businesses are accepting it, people are actually willing to spend it on stuff.
This is definitely some good news I’m really happy to see in this bear market.
I am surprised by this, to see positive news for just using Bitcoin in a business, even recently Bitcoin keeps dumping.
I'm curious how they accept Bitcoin, like, are they using lightning network or anything? I am curious if they don't use Lightning network, how fast the transaction confirmation before they serve your steakburgers.
Bitcoin majorly suits the long-term investment plans for now, but if it must serve as a medium of exchange for Irl purchases/trading like this one, that's where the "strategic Bitcoin reserves" are needed to cushion the effect of volatility .. Although they just didn't make any specificities on that.
It's good to know that companies have taken to note the essence of having an adoption plan, and a direct reserve for further cycles ahead.
I value you because there are actually some places where Bitcoin is used in business. Steak N Stake has made the role of Bitcoin in its business quite big, sometimes they take Bitcoin instead of their burger and sometimes they reserve Bitcoin in their wallet and now they recently sent their Employee to Bitcoin in salary. which proves that Bitcoin is reaching the people with considerable growth and investment. But these good news have not affected Bitcoin much, although this news is making Bitcoin more developed. We can see businesses paired with more bitcoins like this.
Yes definitely through lightning network.
A feedback from a customer posted on X:
Source: https://x.com/orddeutsch/status/1923165797163118826?s=46
You will noticed "use a Bitcoin lightning wallet" --on the screen and Payment Method: lightning -- on the receipt
There is something about using Bitcoin to make payment. It feels so right every time, maybe it's how thrill I am whenever I use Bitcoin to buy something.
Or maybe it's because I have always wanted this idea to work.
This shows that there have been a lot of bitcoinners around who were just waiting for the right time to patronize them using bitcoin, since all the sales received through bitcoin are not to be spent but added to their reserve and to give out their workers' bonuses as part of encouraging them to be part of Bitcoin. They are never going to worry about value but will focus on the increasing number of customers they have witnessed since they started.
I think the reason why bitcoin actually appears to be more of investment asset rather than been a currency is because of the fact that it is volatile as stated but I will say it is majorly because most countries do not actually allow the use of bitcoin as a currency yet so majorly the investors will be scared to use it that way and also most businesses are actually scared of actually publicly saying they will accept bitcoin, most of them who are actually allows the use of it usually see the flow of adopters through it even with the current volatility issue.
Volatility doesnt seems to be an issue too in this situation as many claimed it will be, businesses just need to plan properly how to save or spend the bitcoin and they can easily beat volatility
They even have all these equipments that you can make payments in one scan? Has to be on layer 2!
"Scared" to publicly declare that they accept bitcoin? Pardon my ignorance, but why? Is there a deeper secret that I don't know?
What happens in cases when the liquidity is low? What if the company's capital is so small that it must be reused daily, and profit shared on 'general expenses'?
Does Steak n Shake only accept Lightning network instead of onchain?
Because, I saw a small child buying at Steak n Shake paying with bitcoin Lightning network he has been taught from an early age by parents using bitcoin.
https://x.com/speedwallet/status/1923689784158966150
Unfortunately my country prohibits accepting payments like this in any store.
This is very strong show of use of Bitcoin in real world as it states that their same store sales have gone up by 18 percent since accepting digital payments nine months ago. Most changing part of this plan, in my view, is Bitcoin Bonus program that opens on March 1, 2026, that offers hourly workers a $0.21/hour bonus in Bitcoin via the Fold app.
Steak n Shake has managed to show that when used to lower dealing fees by almost fifty percent, with Lightning Network, Bitcoin is not simply risky bet, but other, a way of business speed that can beat even normal rivals such as McDonalds and Domino even when market is seen to be down.
not so sure about the timeline but if this was months ago then bitcoin wasnt really dumping yet or not to the level it is at right now anyway
no information have been found though i see a few bitcoiners trying to buy a burger here and there
people find the news bearish because yes bitcoin is being used but people using bitcoin for burgers means that they are not keen on holding. well bitcoin is meant to be used anyway regardless if its bearish or bullish
I think EL MOHA is referring to regulatory policies, specifically the lack of recognition of Bitcoin as a currency. There must be businesses in some countries like Vietnam, Bangladesh, and others which would've otherwise wanted to publicly announce that they accept Bitcoin payments if not for Bitcoin's illegal status as a direct mode of payment or payment method for goods and services.
Businesses will be closed, and business owners will be arrested and subject to criminal and economic sanctions(*). This is, at the very least, a threat to our country, especially in key tourist destinations. This news became a major local headline at the time, and no business dared to openly accept crypto to this day.
*) https://coinvestasi.com/berita/kafe-di-bali-gunakan-kripto-sebagai-metode-pembayaran
Unfortunate, yet, I do think that the law can be twisted in any place to fit the agenda - if it's to ruin the business, the excuse will be found in BTC or not, or to have taxes that they don't pay because there is no framework for btc in the first place..
Yes, Steak 'n Shake is only accepting bitcoin lightning network and not yet accepting bitcoin onchain payment. We have discussed this above. Accepting onchain payment would have also be good. I hope they can later have plan of accepting bitcoin onchain payment.
That posts was made on the 16th of February which was just two days ago, not months ago.
Yeah, Steak 'n Shake accepts payment via the Lightning Network and not onchain. Onchain payment will take a little bit of time, and the transaction fees can be costly when the mempool becomes congested. Transaction via the Lightning Network is cheaper and faster, and that's why it's preferable.
no wonder that blazing fast I am also curious since bitcoin need 10 minute to get 1 confirmation
this just my opinion but I hope lot of merchant can use bitcoin as payment I also saw a web like https://merchant.binance.com/en https://www.coinbase.com/commerce both binance and Coinbase now has merchant program that basically u can spend ur crypto in a whole not just bitcoin but other altcoin aswell
if this continue this would be great
The Indonesian government strictly prohibits payments using other currencies, including crypto, other countries' fiat currencies, when doing business in Indonesia, IDR payments must be made.
Crypto assets in my country are only commodity assets.
There used to be on the island of Boracay - Philippines many restaurants, hotels and grocery stalls accepted bitcoin or crypto, is it now on the island still accepting bitcoin for food shopping there?