 | This is a story of Crypto Street Restaurant which was based in Florida. I take most of my information from their Instagram handle @ cryptostreetrestaurant and certain other news articles/reddit posts. I will avoid putting any links in the post but if anyone wants any sources for any of this, I'll be happy to provide links in the comments. Crypto Street Restaurant had their grand opening on December 9th 2021. They received some media attention, particularly for their crypto theme and having such dishes as Doge Dog and Bitcoinana Split and claiming to accept all crypto. One such example: Many posts about this were made on this subreddit and the opinions were mixed. Some in the comments hailed this as a big step towards mass adoption while others described this as cringe. At one point, the restaurant also received some attention due to being the interview place for this person accepting cryptocurrency donations for their campaign: So, it is clear that by this point, most of the attention this restaurant had received was for being a crypto friendly place. But, the million-dollar question is, what about adoption? Did it help to drive up crypto adoption in any way? Were any payments actually made in crypto? Which crypto? And how many? Now, while the restaurant has unfortunately not released any official numbers on this, it is very easy to discern this from their Instagram feed. The reason is that they posted a picture of the customers who paid in crypto. There have been exactly 3 such posts: Don't miss the Bitcoin pillow in the back So, going by this metric, throughout a year, they had 3 payments using BTC, which is clearly abysmal. Some might argue that they could've had other transactions that they didn't post pictures of, which I can't deny, but I feel that the fact that they even posted these pictures had to mean that this was a fairly rare occurrence. Either way, we have no way of making any claims conclusively unless someone can figure out their wallet address from the bar codes and check their transactions. Even if we leave apart the customer's choice of payments, the owners took great care to make the decor and the vibe of the restaurant crypto themed, but out of all the pictures posted on Instagram of their price boards, not in a single one is the price in BTC or in any other crypto ever mentioned. Here's an example: Fiat as far as the eye can see Finally, on March 2nd 2023, they posted this: Now, why any restaurant succeeds or closes down is not something that I am capable of commenting on, much less this particular one. In fact, this restaurant had a Google Maps rating of 4.8 over 84 reviews at the time of writing, so it seems that their patrons were reasonably satisfied with them. This post is not to put anyone down or point fingers, this is just a case study of an attempt at crypto adoption. So is there a moral to this story? I'm not sure, but I sure hope this is of interest to some people on the sub and sparks some discussion. [link] [comments] |
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