The Currency Analytics
By Dan Saada
Being able to buy coffee with Bitcoin is considered to be one of the methods to help people understand Bitcoin and other cryptocurrencies.
A report states that about 450 million cups of coffee are being consumed every day in the US.
Garrick Hileman, a blockchain researcher, an economist stated that when people make simple purchases with complex technology, then the technology becomes more relatable.
Dominic Frisby stated that Buying Coffee with crypto every day is worth doing to help everyone understand how cryptocurrency works as a way to get familiar with using…
Frisby explained that In order to get started with cryptocurrency he purchased £20 worth of Bitcoin.
The idea of this practice is to help with mass adoption. And, we need to be very clear that it is not about buying coffee.
While the usage of Bitcoin and Cryptocurrency is considered to be pervasive, there is a lot of use available for it.
Charlie Lee, the creator of Litecoin, came up with a direct argument that "more of daily opportunities of using cryptocurrencies" will bring us closer to mass adoption.
Lee opined that being able to pay someone on the other side of the globe with cryptocurrency with sound money that is censorship-resistant is a happening of tremendous value.
Lee stated that “Once you store your money in cryptocurrency, you should be able to spend it everywhere.”
It creates a lot of political opportunities where you are able to spend a cryptocurrency that functions as a truly global currency.
However, it is not going to be without challenges. Bitcoin, in reality, was created to be a peer-to-peer value transaction that is web-based.