Bitcoin News Today: Crypto Tribalism Prevails as Steak 'n Shake Ditches ETH Plan

Steak 'n Shake has abruptly reversed its decision to explore Ethereum (ETH) payments after facing fierce backlash from Bitcoin maximalists, a move that has reignited debates over cryptocurrency tribalism and business strategy. The fast-food chain, which began accepting Bitcoin (BTC) in May 2025, launched a poll on October 11 via X to gauge customer interest in ETH payments. The poll, which initially showed 51% support for ETH adoption, was suspended within hours as Bitcoin proponents criticized the chain for straying from its BTC-only commitment.

The decision to halt the poll was framed as a victory for Bitcoin advocates, who argued that BTC's Lightning Network offers superior speed and cost efficiency for retail transactions. "Our allegiance is with Bitcoiners. You have spoken," the chain's X account, signed as "Steaktoshi," declared. Critics, including Bitcoin wallet developer Adam Simecka and influencer "The Bitcoin Gal," vowed to boycott the chain if it accepted ETH, underscoring the intensity of crypto tribalism.

Ethereum co-founder Vitalik Buterin publicly endorsed Steak 'n Shake's reversal, praising the chain's "principled move" to prioritize community alignment over broad market appeal. Buterin emphasized that businesses should not dilute their values to maximize customer reach, a stance reflecting his broader philosophy on decentralized networks. His support highlighted the ideological divide between Bitcoin's focus on digital cash and Ethereum's smart contract ecosystem.

Steak 'n Shake's BTC adoption has already yielded tangible benefits. The chain reported a 15% year-on-year rise in same-store sales in Q3 2025, attributing part of the growth to Bitcoiners' support. CEO Dan Edwards revealed at the Bitcoin 2025 conference that BTC payments cut processing fees by 50% compared to credit cards, thanks to the Lightning Network's sub-second settlement times and negligible fees. The chain now processes over 120,000 BTC transactions monthly across 393 U.S. locations and international outposts in France, Monaco, and Spain.

The ETH poll suspension underscores the challenges businesses face in navigating crypto adoption. While Bitcoin maximalists view BTC as the sole viable digital currency for payments, Ethereum supporters argue for broader acceptance of altcoins. This tension mirrors past controversies, such as Tesla's 2021 reversal on BTC payments due to environmental concerns.

Looking ahead, Steak 'n Shake's unwavering commitment to Bitcoin may solidify its position as a crypto-friendly brand. The chain plans to launch a "Bitcoin Steakburger" on October 16 to celebrate its BTC integration, further cementing its alignment with the Bitcoin community. However, the episode raises questions about whether other retailers will follow suit or seek to accommodate multiple cryptocurrencies amid evolving market dynamics.

Source: [1] Steak 'N Shake U-Turns on ETH Payment Idea - Cointelegraph (https://cointelegraph.com/news/steak-n-shake-u-turns-eth-payments)

[2] Steak Shake Simped Shitcoin (https://www.duck9.com/blog/steak-shake-simped-shitcoin/)

[3] Vitalik Buterin Confirms Support for Steak 'n Shake's ETH Payment ... (https://coinfomania.com/vitalik-buterin-supports-steak-n-shake-eth-payment-pause/)

[5] Bitcoin Community Pushes Back – Vitalik Supports Steak 'n Shake ... (https://cryptojist.com/vitalik-bitcoin-community-backlash-eth-payment-pause-steak-n-shake/)

[9] How Bitcoin Turned Steak 'n Shake's Sales Around (https://chainaffairs.com/how-bitcoin-turned-steak-n-shakes-sales-around-in-just-2-months/)

[10] Steak 'n Shake Goes All-In on Bitcoin with Lightning Network ... (https://moneycheck.com/steak-n-shake-goes-all-in-on-bitcoin-with-lightning-network-integration/)