Brian Armstrong Shows Popup Donut Shop is Accepting Crypto Through Coinbase
Brian Armstrong, the co-founder and CEO at Coinbase, uploaded a video in which he shows how they are processing a transaction at a pop-up doughnut shop that accepts cryptocurrencies.
— Brian Armstrong (@brian_armstrong) January 26, 2019
In the video, it is possible to see two individuals, one that holds an iPad with (apparently) the Coinbase Commerce platform and another one that sends a payment in Bitcoin Cash (BCH). The video takes fifteen seconds, and it shows how the transaction is received by the merchant in less than three seconds.
There were some individuals that were not so happy about this transaction. Indeed, the Twitter user Armin Van Bitcoin attacked Brian Armstrong saying that database transactions exist since the 70s. He said that doing a simple database transaction is not how to onboard people to use Bitcoin. He went on saying that Brian Armstrong is just a ‘corporate puppet’ who tried to kill Bitcoin.
You missed my point. Doing a simple database transaction is not how you onboard people to use #Bitcoin. @brian_armstrong is a corporate puppet who has countlessly tried to kill Bitcoin. He should pay attention to what happened to Bitmain. Same will happen with Coinbase. 🍻
— A v B (@ArminVanBitcoin) January 26, 2019
Other users have been asking Brian Armstrong when is Coinbase going to be implementing the Lightning Network (LN). The Lightning Network is the proposed scaling solution for Bitcoin that would allow it to process hundreds of thousands of transactions per second without congesting Bitcoin’s main network.
However, the LN implementation needs time for being ready for commercial use. Although it has been growing during the last year, it needs to keep growing and improving some issues.
Coinbase is one of the largest and most popular cryptocurrency companies operating in the market. It offers wallet, trading and other services for merchants and institutions. The solution for merchants that is shown in the video supports Bitcoin (BTC), Bitcoin Cash, Litecoin (LTC) and Ethereum (ETH).
In the last few months, Coinbase has been trying to expand its services by adding trading support to different digital assets. The company has added support to new ERC-20 coins such as Decentralized (MANA) or Loom Network (LOOM), among others.