Payment processors, as they currently operate, are responsible for bitcoin losing its value. Choke off the endless market sells payment processors are doing for retailers, service providers and miners, and demand will outstrip supply=price increase. Since there is insufficient bitcoin transaction volume to cause bankruptcies for fiat-primary businesses, payment processors could add value to their services by letting their business customers set a profit threshold, for example:
Retail customer pays $5 worth of BTC to payment processor address
Business customer sets 5% profit threshold with payment processor
Payment processor sells BTC for $5.25 as soon as a bid is found that high, credits fiat to business customer
Topic: [2015-01-29] McDonald’s might start accepting Bitcoin soon (Read 3423 times)
Nope, I disagree with you.
A business does keep some capital back as a saving for a rainy day... The problem with Bitcoin/Merchants are that they use Bitcoin as a vehicle to get more money, and then they hoard none of it, and they just convert back to fiat. They will then pay their overheads and deposit the rest in a savings account at a bank.
A business does keep some capital back as a saving for a rainy day... The problem with Bitcoin/Merchants are that they use Bitcoin as a vehicle to get more money, and then they hoard none of it, and they just convert back to fiat. They will then pay their overheads and deposit the rest in a savings account at a bank.
Does that capital they keep in the bank lose 30% of it's value over a few days? Companies cannot afford to operate by saving funds in a currency that can rapidly deplete in such a fashion and that's the reason companies use payment processors.
Although MD will instantly dump the coins it will surely popularize bitcoin and make more people use it. Isn't that what we want?
When somebody buys a bitcoin, transfers it somewhere and sells, the effect is better than no action at all.
When somebody buys a bitcoin, transfers it somewhere and sells, the effect is better than no action at all.
Why am I the only person, not happy about this? Just what we need.... another HUGE organization, who come in, adopt Bitcoin to get them a new source of income.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
. Companies accepting bitcoin whoever they are is not a bad thing. There are always people buying back the bitcoins. Do you really expect for everyone just to buy coins to hoard them? Not all businesses can keep some or all of their coins and it would probably be bad business practice for them to do so.So you saying ALL companies use ALL their profits, and never go to a bank and deposit it in a savings account?
Nope, I disagree with you.
A business does keep some capital back as a saving for a rainy day... The problem with Bitcoin/Merchants are that they use Bitcoin as a vehicle to get more money, and then they hoard none of it, and they just convert back to fiat. They will then pay their overheads and deposit the rest in a savings account at a bank.
If more merchants kept that disposable income in BTC, the price would have gone up and they would be getting more interest than they currently get at a bank.
Why am I the only person, not happy about this? Just what we need.... another HUGE organization, who come in, adopt Bitcoin to get them a new source of income.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
. Companies accepting bitcoin whoever they are is not a bad thing. There are always people buying back the bitcoins. Do you really expect for everyone just to buy coins to hoard them? Not all businesses can keep some or all of their coins and it would probably be bad business practice for them to do so. Why am I the only person, not happy about this? Just what we need.... another HUGE organization, who come in, adopt Bitcoin to get them a new source of income.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
The advantage to McD's accepting Bitcoin, if they did, (they won't but if they did), would be the huge exposure for the consumer. Many people would see that you can pay with Bitcoin and get curious, and eventually get into the system. This is a missing link that we haven't got yet. This will also raise the Bitcoin price.
Companies accepting Bitcoin = price lowers
Individuals adopting Bitcoin = price rises
McD's will drive people to adopt.
Why am I the only person, not happy about this? Just what we need.... another HUGE organization, who come in, adopt Bitcoin to get them a new source of income.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
They then take ALL those Bitcoins, and convert them to fiat to pay their bills. This drive the price of Bitcoin lower, due to a increased in dumped coins on the exchange and then that force the trolls and shills to come out of hiding. {They only come out, when the price is low... screaming "Bitcoin is DEAD"}
Bring the REAL Bitcoin merchants... like Overstock, who have it's best interest at heart and I will gladly SUPPORT them.
We all know McDonald's isn't going to accept bitcoin. I don't even think it would be worthwhile them accepting it currently.
Regardless of what a company does with their coins it doesn't matter because the money is still going in to bitcoin.
McScrotum's accepting BTC would be a huge BTC event, normalizing BTC usage for the great unwashed, but it will not affect the price b/c they just cash out every sale immediately. see; overstock.com. Still, I will believe it when I see it.
Regardless of what a company does with their coins it doesn't matter because the money is still going in to bitcoin.
"big news coming" or "we don't want to spoil the surprise" usually means "no actual news here, but don't let that stop you from watching our superbowl ad, thinking about McD's all week, and talking about it too" It's called "viral Marketing" and we are helping the evil clown right here and right now! If you want to pay 5$ for a stomach ache, come on over to my house, gimme yr fiver, and I'll punch you in the gut. Believe it or not, it's actually a lot healthier option.
McScrotum's accepting BTC would be a huge BTC event, normalizing BTC usage for the great unwashed, but it will not affect the price b/c they just cash out every sale immediately. see; overstock.com. Still, I will believe it when I see it.
Until then...Think about those delicious burgers!
McScrotum's accepting BTC would be a huge BTC event, normalizing BTC usage for the great unwashed, but it will not affect the price b/c they just cash out every sale immediately. see; overstock.com. Still, I will believe it when I see it.
Until then...Think about those delicious burgers!
I think folks are totally misplaced on this one. It's going to be pay with a smile or some such thing. They have no idea and dont care what bitcoin is.
Ok the first time I read your reply I was like: huh?
But then I read the article and I completely agree with you hahaha!
"Sing a song for a cheeseburger!"
Ah, too bad. Missed opportunity... For now
false bullshit news.
But look at the ironclad source:
"There are many rumors being spread regarding McDonald’s possibly accepting bitcoin soon."
That many rumors can't be wrong.
Pay With Lovin'
https://www.youtube.com/watch?v=iq2Sm2XGv_s
https://www.youtube.com/watch?v=iq2Sm2XGv_s
false bullshit news.
I think folks are totally misplaced on this one. It's going to be pay with a smile or some such thing. They have no idea and dont care what bitcoin is.
That's what I'm leaning towards. Some kind of promotion that for the day after the Superbowl all Big Macs will cost one smile (or similar one day free-type promotion to get lines out the door).
How would merchants ignore Bitcoin adding Paypal, Microsoft, McDonald & Nasdaq?... 2015 should be the tipping point.
One more insta-dumper to tank the markets and continue to make it illogical for everyone to spend at a loss.
Not everyone has such cards... And operating with BTC is different than having an "intermediate" card
True, but just saying, even if they wouldn't go with Bitcoin, I could technically still spend Bitcoin at any McDo
This better not be a bait tactic like Paypal, it would be big news if it were true, don't ever jump to conclusions guys until you see a "We accept Bitcoin" symbol at McDonalds.
I can already pay at McDo with Bitcoin, thanks to my Bitcoin debit cards....
Not everyone has such cards... And operating with BTC is different than having an "intermediate" card
Why pay for crap food with bitcoin when you can pay for complete food with bitcoin?
That said, McDonalds accepting bitcoin (and advertising it) can only be a good thing…
That said, McDonalds accepting bitcoin (and advertising it) can only be a good thing…
Crap, but they do have nice deserts haha
About joylent... You made me curious about it
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