{"id":406048,"date":"2022-02-15T17:20:44","date_gmt":"2022-02-15T14:20:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uber-claiming-itll-accept-bitcoin-is-nothing-but-a-marketing-ploy\/"},"modified":"2022-02-15T17:20:44","modified_gmt":"2022-02-15T14:20:44","slug":"uber-claiming-itll-accept-bitcoin-is-nothing-but-a-marketing-ploy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uber-claiming-itll-accept-bitcoin-is-nothing-but-a-marketing-ploy\/","title":{"rendered":"#Uber claiming it\u2019ll accept Bitcoin is nothing but a marketing ploy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2787b8b9a74\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2787b8b9a74\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/uber-claiming-itll-accept-bitcoin-is-nothing-but-a-marketing-ploy\/#Copy_from_the_best\" >Copy from the best<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Uber claiming it\u2019ll accept Bitcoin is nothing but a marketing ploy<\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/img-cdn.tnwcdn.com\/image?fit=796%2C417&amp;url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2022%2F02%2FUntitled-design-53-1.jpg&amp;signature=530bebc2b1e0ad9db023e9e907a61045\" \/><\/p>\n<div>\n                            <span style=\"font-weight: 400;\">One day, you may be able to pay for your Uber with Bitcoin. Or, at least, that\u2019s what Dara Khosrowshahi, the company\u2019s CEO, told <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-02-11\/uber-ceo-says-app-will-eventually-accept-crypto-as-payment\">Bloomberg<\/a>.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This <\/span><i><span style=\"font-weight: 400;\">sounds<\/span><\/i><span style=\"font-weight: 400;\"> good, but if you ask me? It\u2019s nothing but a marketing stunt.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Before you call me biased, let\u2019s take a closer look <span>at what Khosrowshahi said:\u00a0<\/span><\/span><\/p>\n<blockquote><p><span>Is Uber going to accept crypto in the future? <\/span><b>Absolutely<\/b><span>, <\/span><b>at some point<\/b><span>. <\/span><span>This isn\u2019t the right point, but we will.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">I love the wording here. The certainty of \u201cabsolutely\u201d paired with an indefinite future time is the perfect way to make a promise without really making one.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It also reminds me of my own recurring statement to my friends: <\/span><i><span style=\"font-weight: 400;\">I\u2019ll <\/span><\/i><b><i>definitely<\/i><\/b><i><span style=\"font-weight: 400;\"> enroll at a gym <\/span><\/i><b><i>at some point<\/i><\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">No, I haven\u2019t done so yet \u2014 and it\u2019s been two years since I said it. And, between you and me, it\u2019s probably not h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening any time soon.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Coming back to Uber, why isn\u2019t now \u201cthe right point\u201d to start accepting crypto?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Khosrowshahi cited cost and environmental impact as the two main reasons:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Indeed, these are solid reasons.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitinfocharts.com\/comparison\/bitcoin-transactionfees.html#3y\">Bitinfocharts<\/a>, the average Bitcoin transaction fee was $1.9 in January (which isn\u2019t bad), but it\u2019s been fluctuating significantly during the last year, from $0.8 to $62.7.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And yes, Bitcoin mining has raised <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/news.climate.columbia.edu\/2021\/09\/20\/bitcoins-impacts-on-climate-and-the-environment\/\">concerns<\/a> over its tremendous energy consumption, greenhouse emissions, water use, and e-waste issues.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s not forget the cryptocurrency\u2019s volatility either. On Friday afternoon, a single Bitcoin was worth <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\/\">$42,628<\/a>. In November 2021, it hit an all-time high of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/price\/bitcoin\/\">$69,000<\/a>. This fluctuation doesn\u2019t make it an ideal payment tool.<\/span><\/p>\n<p><span>Here\u2019s the kicker: Khosrowshahi\u2019s reasons not to accept Bitcoin are unpredictable. This means it\u2019s impossible to say when \u2014 and if \u2014 the cost and environmental impact will change to meet Uber\u2019s (totally unspecified) standards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">All this leads me to believe that the company\u2019s courting of Bitcoin is more a marketing strategy than a real commitment.\u00a0<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Copy_from_the_best\"><\/span>Copy from the best<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">We have another player within the automotive space using a similar approach: you guessed it, Tesla.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Tesla\u2019s on and off relationship with Bitcoin has attracted a shedload of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> attention \u2014 and has even affected the crypto\u2019s value as well.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It dived when the EV maker paused Bitcoin payments back in May, and rallied when Musk announced they\u2019re going to re-accept it one month later.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><span>Elon explained users can pay with the cryptocurrency <em>only when<\/em> around<\/span> 50% of Bitcoin\u2019s energy use is supplied by renewable sources. Well, at least he gave some specifics \u2014 unlike Uber.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the meantime, Musk thought of another way to use crypto to attract media coverage: Dogecoin. It\u2019s now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tesla.com\/support\/dogecoin\">accepted for some merch in Tesla\u2019s online store<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Resourceful as ever, Elon even nudged McDonald\u2019s to accept the joke coin: <\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">I will eat a happy meal on tv if <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/McDonalds?ref_src=twsrc%5Etfw\">@McDonalds<\/a> accepts Dogecoin<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1485953263040188416?ref_src=twsrc%5Etfw\">January 25, 2022<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">I doubt we\u2019ll see Uber\u2019s CEO embarking on similar stunts \u2014 after all, not everyone has Musk\u2019s desperate need for attention. Despite this, it appears the company is adopting some of Tesla\u2019s crypto marketing tactics to gain some column inches and shift its public narrative.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And it has many reasons to do so.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Uber has been <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S2226585621000200\">hit by the pandemic and travel restrictions<\/a>, it\u2019s been fighting legal battles with EU countries and taxi associations, it\u2019s suffering from driver shortages, and its stock has been dropping. For reference, Uber\u2019s market value is now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/UBER\/history\/\">down 21.3%<\/a> over the last year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Under this light, bringing out the big marketing guns and splashing words like \u201cblockchain\u201d and \u201cBitcoin\u201d around seems like a good way to grab some much needed press.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yes, <\/span><i><span style=\"font-weight: 400;\">I know<\/span><\/i><span style=\"font-weight: 400;\">. I\u2019m actually helping Uber by writing these words. But what can you do? I simply couldn\u2019t resist.\u00a0<\/span>\n                        <\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thenextweb.com\/news\/uber-accepting-bitcoin-payments-is-a-marketing-ploy\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Uber claiming it\u2019ll accept Bitcoin is nothing but a marketing ploy&#8221; One day, you may be able to pay for your Uber with Bitcoin. Or, at least, that\u2019s what Dara Khosrowshahi, the company\u2019s CEO, told Bloomberg.\u00a0\u00a0 This sounds good, but if you ask me? It\u2019s nothing but a marketing stunt.\u00a0 Before you call me biased,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":406049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/shift?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2022\/02\/Untitled-design-53-1.jpg&signature=6a4b00a757c0cf9b1226ba1f29cfcadf","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-406048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/406048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=406048"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/406048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/406049"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=406048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=406048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=406048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}