Fine Wine & Crypto: Who accepts Bitcoin?

WINE TALK
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What wineries are accepting company stocks as payment?

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OK, starting tomorrow we will trade any bottle of wine in our library for a bitcoin.

2 Likes
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I don’t see any upside for a winery to accept cryptocurrency as payment.

The NFT for mailing list slots is more interesting but also seems to have a lot of potential problems.

  1. How many wineries is this really meaningful for?

  2. Today, if a winery wants to boot someone from the list for any reason they can. Can they still if there is an NFT?

  3. What is to stop someone from buying up all the NFTs and manipulating the market for the wine?

  4. What protects a winery against trading of the NFTs for below-market with a side deal between parties, to cut the winery out of a share?

I guess I could see a winery issuing a small number of these as a marketing gimmick. But not as a mainstream commercial practice for D2C, any more than they would want to do it for B2B (eg importers, distributors, etc). Wine isn’t a commodity and history suggests that producers want/need to keep close hands-on control of their sales channel.

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Retailers Accepting Crypto 9 Major Companies Who Accept Bitcoin [Spend Crypto 2023]

Neat story gramps.

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BTFD [dance-clap.gif]

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Suppose if a winery got hacked they would pay the hackers in bitcoin, not the other way around.

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Didn’t see it mentioned but Dark Matter just started accepting Bitcoin for purchases for their release. They have a set conversion rate though so it may or may not make sense depending on the price

1 Like
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Thanks for sharing, I did not know about this project, but will definitely be making a visit the next time I’m up North.

https://shop.mondavisisters.com/index.cfm?method=memberlogin.showLogin

“We are excited to announce we now accept CRYPTO CURRENCY as a form of payment for our beautiful three-packs. Currencies include Bitcoin and Ethereum, with Dogecoin coming soon. To purchase with CRYPTO CURRENCY, please click the icon link below.”

The vineyards chosen for growing our Dark Matter fruit includes two family properties on Howell Mountain, Napa Valley. The first vineyard, Four Sisters, is owned by the Mondavi sisters and has two acres planted solely to Zinfandel fruit for our Dark Matter Zinfandel. The second property, Rocky Ridge, is owned by the parents of the four sisters, Janice and Marc Mondavi, and provides the perfect location for our Cabernet Sauvignon.

Both vineyards are sustainably farmed and managed by their father’s closest friend, Jim Barbour, and is considered one of Napa Valley’s most sought after viticulturist. Jim’s meticulous attention to detail and extraordinary green thumb enables us to maintain and develop the unique flavors and perfect ripeness prior to harvest.

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Semi-related question: is a person’s position on a desirable mailing list an asset that one should be able to sell or assign?

Imagine mailing list spots as PSLs in sports! I don’t think it would fly.

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hahahahahaha, I can’t believe the bubble burst…

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When the blackouts start because bitcoin is sucking up too much power, will crypto currency still be worth anything?

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1 bitcoin = 4 no wait 5 oh no now its 3 bottles of Petrus.

Considering the lengths merchants often go to hedge FX risk for example I can’t imagine a crypto wave in wine personally.

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Down 16% in one day. $63K+ in April to $37K- today. I can’t imagine why any sane, legal business would want to accept Bitcoin.

2 Likes
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Zactly.

[cheers.gif]

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Definitely agree it doesn’t make financial sense for wineries to accept crypto unless it’s for marketing purposes. But the benefits of blockchain technology are promising for supply chain and provenance. It’s an exciting space to watch, in the same way that I would never buy $TSLA but am very interested in EVs.

Regarding energy usage, if we’re at a point where the grid is failing due to crypto mining, we’ll have a lot more to worry about than the price of BTC! (Just saw one study postulate that banking and gold use 5X the energy of BTC mining. And always-on but inactive devices in the US use more power than worldwide BTC mining)

PS: Sometimes it’s the insane businesses that are more fun to read about, haha! Whoever was the “insane” Papa Johns employee who accepted 10,000 BTC as payment for 2 pizzas in 2010 is now worth $400 million.

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Except it didn’t. And ADA and MATIC are looking quite strong but you don’t know what you’re talking about.

It’s amusing to watch captain hindsight here post Bitcoin is dead during every dip and then sit quietly when it’s setting ATH’s… rolleyes

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How much energy do you think the world banking system consumes? Well, bitcoin is only a fraction of that.

The blackouts will start because green zealots won’t allow new nuclear plants and not because of bitcoin.

1 Like
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I’ll take the blackouts. Thanks. Screw the Bitcoin.

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And I’ll buy the dip.

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The Hunt Brothers will gladly take your money.