20% off everything at starbucks

[rogerver]

For those who don't already know, you can instantly get 20% off everything at Starbucks in the USA, Canada, UK, Australia, HK, Macau, and maybe a few more countries just by using the free app at coffee.foldapp.com

Here it is in action:

https://www.youtube.com/watch?v=jUOYfLrjABk

[GaryDavisIRL]

Ireland too! Nothing better than saving 20% on your lunch while supporting the Bitcoin economy, and on top of that you get to support a small Bitcoin business by purchasing items from a large fiat corporation! Pretty freakin' impressive!

[Acidyo]

Is this the gox discount?

jkjk

[DOGed]

That is pretty awesome.

What do they do to get such a large discount?

[arnoudk]

As I understand it, Fold is liquidating Starbucks gift cards. It goes like this:

Bob receives a gift card but rather has cash. He transfers the gift card to Fold for, let's say, a 30% discount. So Bob gets $70 cash for his $100 gift card.

Alice buys credit for Starbucks from Fold. Fold sends the credit it bought from Bob. Because Fold got a 30% discount, they pass some of that along to Alice. She gets 20% discount.

Fold makes money (as all businesses should) and maybe invests in more great ventures like this!

All parties are winners:
Bob gets cash instead of Starbucks credit, which is what he wanted.
Alice gets discounted coffee that she otherwise would have had to pay full price for.
Fold makes money as the enabler.

[medicine]

Doesn't work in South Korea I tried it myself. But great app, easy to use.