Why Buying Coffee With Bitcoin Won’t Get Cryptocurrency Mass Adoption

Coffee. It’s a beverage of mythical reputation in parts of the cryptocurrency community. It has the power, when purchased with cryptocurrency, suddenly renders that currency a commonly-accepted medium of exchange for all purposes, leading to the collapse of the central banking system and possibly the state itself.

Or not. I buy my coffee with Dash. Quite a few have bought theirs with another form of cryptocurrency. Yet, this has not significantly moved the needle forward towards adopting it as a new payment system. It’s a great step, but new people just aren’t lining up to get cryptocurrency so they can spend it on their favorite caffeinated beverage. Something’s clearly missing in how mass adoption is being approached.

Cryptocurrency adoption has taken a backwards approach

Strangely enough, most cryptocurrency adoption efforts have gone in the opposite direction of the proper model. Many adoption advocates have focused on retail adoption, in getting mom-and-pop…