Steak n' Shake | Bitcoin Payment Option Creates Buzz Amid Criticism

Steak n' Shake's new Bitcoin payment method is stirring enthusiasm but also raising eyebrows. Many customers at select locations are opting for cryptocurrency for their meals, causing a noticeable increase in foot traffic. However, questions regarding their payment model have surfaced, particularly why regular BTC transactions are not being accepted.

Customer Reactions: Mixed Sentiments and Insights

The comments reveal varied reactions. One participant noted, "Good on you for doing it, now use an actual p2p currency if you want better money." This sentiment echoes concerns about using custodial systems that mirror traditional payment structures. Skepticism remains about whether the Bitcoin process truly embraces consumer needs or merely replicates existing norms.

Some patrons have also raised logistical questions: "Curiously, how do you make purchases if your Bitcoin is stored on a cold wallet?" Such inquiries highlight the confusion among some customers about how to effectively transact using Bitcoin at the restaurant.

Payment Model Controversy

Critics are vocal about the company’s decision to bypass regular BTC acceptance. As someone pointed out, "Why don’t they accept regular BTC transactions like merchants did between 2012 and 2017?" This has sparked discussions about Bitcoin's evolution and the limitations placed on consumer transactions.

Comments also referenced platform fees associated with Bitcoin Cash, with one user mentioning, "Do they accept BCH? The fee with bcore is too high. Same cost as burger." This sheds light on the financial considerations that come into play for customers seeking cost-effective ways to use cryptocurrency.

Innovative Changes or Same Old System?

While Bitcoin's rapid growth has alienated some, improved customer offerings are gaining attention. A commenter excitedly shared, "They completely redid their fries so that they’re made with beef tallow. They taste excellent now." This shows that not only are customers drawn by the payment option, but also by enhancements in food quality.

As one observer noted, "Bitcoin’s L1 doesn’t check KYC, so if the payment involved it, then it’s not a bitcoin payment." This reflects the nuances of how transactions are characterized, further complicating the customer experience.

Important Takeaways

• 🔗 Customers are enthusiastic about using Bitcoin but are looking for broader acceptance of other cryptocurrencies.

• ⚠️ Concerns persist about the lack of traditional BTC transaction options, with calls for a more inclusive approach.

• 🍟 Enhanced menu items, including reworked fries, are garnering praise alongside Bitcoin discussions.

As Steak n' Shake continues to navigate the evolving payments landscape, it becomes increasingly crucial for them to address concerns raised by patrons. Will they adapt based on customer demand, or maintain their current model? Only future visits will reveal the outcome.