It's happening. Virtual currencies, once the stuff of dark webs and hacker lairs are finding their way — slowly — but surely into our lives, thanks to bitcoin. And Square—now Block Inc.—is going full throttle, empowering tons of businesses to easily accept Bitcoin payments. And then don’t forget about Steak ‘n’ Shake, that greasy spoon Americana mainstay, now serving both burgers and Bitcoin? The irony is enough to leave you coughing on your Frisco Melt. Or, better yet, is this a sign of a decentralized glorious future? Or is it truly a recipe for disaster, served on a plate of fries? Well, I’m happy, but very much not happy, and you should be too.

Bitcoin Burgers or Bubble Trouble?

Steak ‘n’ Shake taking Bitcoin … So crazy, it just might work! Think about it: lower transaction fees, potentially faster payments. It could be a win-win. Meanwhile, Visa and Mastercard continue to rake in billions on interchange or transaction fees. This is where Bitcoin — particularly when using the Lightning Network — provides a solution to go around these gatekeepers. Square’s betting big on this, and they’ve expanded infrastructure to do it. New internal products besides Lightning include Bitcoin Conversions, Cash App, Bitkey Wallet, Proto (Bitcoin mining tools) and Spiral (open-source Bitcoin projects).

Here's where the anxiety kicks in: Bitcoin's volatility. One day your burger is $0.0001 BTC, and the next day it’s $0.00005 BTC. That's not exactly conducive to predictable pricing. And I don’t mean to shortchange the average Steak ‘n’ Shake customer. First of all, are they truly prepared to deal with the intimidating crypto wallet setup and confusing transaction confirmation process? Probably not. This ain’t Wall Street; this is Main Street, USA.

The appeal of “financial freedom” is undeniable, but it’s a marketing catchphrase. If my grandmother can’t figure out how to use her smartphone, I’d be surprised if she’s purchasing Bitcoin any time soon. We preach the gospel of financial freedom, yet we are falling short in our efforts to educate the past generations.

Cyber-Chefs, Robotaxis, and Crypto Confusion?

Steak ‘n’ Shake’s vision of “cyber-chefs, robotaxis, and drones” with an injection of Bitcoin adoption sounds like a tech dystopia hallucination. It’s as though they took a dart and threw it at a whiteboard covered with trendy words. I can tell you that I admire their ambition. Despite my joy and relief at this news, I can’t help but feel sadness and deep empathy for the softening restaurant chain. Are they really anticipating the future, or are they just trying to keep their heads above water by chasing a trend?

This is reminiscent of the dot-com bust. Much like in the early 2000’s, when every company just added “.com” to their name and miraculously became a tech company! We all know how that ended.

Don’t misunderstand me. I’m not a Bitcoin troll. I can see the potential. But the hype often outpaces the reality. Needless to say, I get a bit skeptical any time I see something that has a forecasted 186% increase. Remember the tulip craze?

Leah, the journalist who reported on all of this, even included a disclaimer warning readers to conduct their own due diligence before investing. That’s good journalism, but it underscores the human risk that’s built into the process.

Responsible Adoption or Reckless Abandon?

This week’s launch of Best Wallet’s crypto debit card (Best Card) is one more part of this puzzle. Spending your crypto at brick-and-mortar stores, while an exciting prospect, would only add to the milieu of complexities. What about security? What about regulatory compliance? And even if you can solve the first two, what do you do when Best Wallet goes belly up?

We have to be honest about the risks that remain. Bitcoin is a new technology and a new industry and so the regulatory environment is still developing. Now, governments are clamping down on unregistered exchanges and stablecoins. We absolutely need clear rules and regulations that protect our consumers and prevent fraud. The only true barrier is the fear of the unknown.

In the end, Square’s Bitcoin bet, and Steak ‘n’ Shake’s crypto experiment, will succeed—or falter—on the merits of responsible adoption. Its bottom line Businesses have an obligation to educate their customers, take strong security precautions, and be open and honest about the risks they’re taking. Making sure consumers can do their own research and make sure they know what they’re getting themselves into.

Is Bitcoin the future of finance? Maybe. But it's not a magic bullet. And putting a Bitcoin logo on your milkshake ain’t it either. It might even create new ones. Tread lightly, don’t f*ck it up. Together, we can create a world where Bitcoin burgers and fries are not a meme but a reality that represents our success.