AMC Theatres Debuts Bitcoin Payments

alpamar99

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adoptions are happening more and more and this is certainly another good news this month.
on the other hand I might try a little here but will not put too much emphasis on this because I really like my assets and as long as I can pay with others I will pay with paper money or fiat instead of bitcoin Cheesy

but it doesn't hurt to try this at least a few times in a lifetime to add insight and impressions in using bitcoin as a means of payment

fiulpro

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Quote from: Vaskiy on November 13, 2021, 01:36:27 PM

AMC Theatres finally have begun accepting bitcoin payments. Initially it has begun accepting bitcoin, ethereum, bitcoin cash and litecoin for online payments. This has been added along with the traditional payment gateways like Apple Pay, Google Pay and PayPal. He also mentioned that the next cryptocurrency to get added is the dogecoin.

People's view on the same Cheesy

Maybe one out of hundred will pay with cryptocurrency, because every crypto users ultimate goal is to stack and make profit and not to spend on mere two to three hours fun.

People never intend to spend on the valuable cryptocurrency, rather they'll spend the trash cash.

It is a good news and more new companies will join providing similar access.

Source : AMC Theatres Debuts Bitcoin Payments

To evaluate how big is the news I do think people should additionally know that AMC theaters are the largest share market, related to theater in the US. Which does mean that their influence is going to be really helpful for the whole bitcoin community. In contrast to how Biden might be reacting towards cryptos we are seeing such steps taken not just be big companies but also some states are also beginning to solidify their grounds on Bitcoins and crypto gambling as well which does mean sooner of later the president might have to reconsider how much importance they give to cryptocurrencies like bitcoins.

Also it's not something that they just jumped into, If I remember correctly they have been using statements regarding cryptos for a while but never officially started accepting cryptocurrencies since 3 days ago. Plus if you do trust cointelegraph it's really astonishing to know that it actually accounts for 14% of all their transactions now.

https://www.google.com/amp/s/cointelegraph.com/news/amc-theatres-debuts-online-bitcoin-payments-after-months-of-teasing/amp

Lucius

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@Vaskiy, please use the forum search before opening a new thread - this topic has been around since August in the Press board.

I can't say how many people still actually visit cinemas, but at a time when it's not so hard to have a home theater and when there are services like Netflix or various Internet platforms offering IPTV or satellite TV that includes premium content in the form of PPV in HD or UHD quality, I really don't need to go to the cinema. Of course in some countries, cinemas are certainly quite popular, but I doubt that people will be too interested in paying with Bitcoin (even through PP), because let's be honest, how many people use Bitcoin as a currency at all?

acroman08

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I'm glad to see another big company started accepting BTC as a payment option. it only shows that big companies can't ignore bitcoin anymore.

I am curious, is AMC theaters part of the AMC networks/entertainment? the tv channel that showed the walking dead?

Quote from: mindrust on November 14, 2021, 08:11:44 AM

Disappointed. Where is shiba and doge? A meme company should also accept meme currencies. Still a good move but I expect them to widen the payment options. These are not the only crypto out there. They will probably realize that meme coins have a huge fanbase and make the necessary adjustments. Even if they add only doge, that would be enough Wink

it's probably just the start. I mean, bitcoin is the most popular and the most established cryptocurrency out there.

romero121

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It has begun accepting through another platform. If things continue it'll be good. In the past large scale companies have begun and stopped the service in a short. Nowadays the support system and usage has bounced which keeps the payment gateways active. Around 2014 travel support giant Expedia came forward with the plans of accepting bitcoin and got implemented on late 2018. Within a short the service got terminated as things didn't worked with the coinbase partnering. Now once again they've come up partnering with travala.com that provides support for cryptocurrency payment for Expedia hotels and flight bookings.

In most cases direct acceptance is found very minimal, maybe it is due to the security and volatility of the market.

yazher

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Quote from: nelson4lov on November 14, 2021, 05:51:27 PM

Maybe people might not patronize it much but it's really nice to see bitcoin and crypto getting adopted in other industries other than financial firms. It's a good feat and I'd love to see it as more and more industries go full crypto. I don't mind paying for movie tickets with bitcoin though. People even get access to theaters these days via NFTs. How much more bitcoin.

These kinds of things have happened in the past where industries such as this one are beginning to accept bitcoins as payment and they're the one who makes it popular to the others. Good news like this will make increase the market movement and the liquidity of bitcoins will run smoothly in the crypto market. It has been pleasing to watch such kinds of news where they highlighted the fact that bitcoins are one of the things to give their companies a boost when they announce accepting it as payment.

24Kt

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Quote from: nelson4lov on November 14, 2021, 05:51:27 PM

Quote from: Vaskiy on November 13, 2021, 01:36:27 PM

^Snipped

People's view on the same Cheesy

Maybe one out of hundred will pay with cryptocurrency, because every crypto users ultimate goal is to stack and make profit and not to spend on mere two to three hours fun.

People never intend to spend on the valuable cryptocurrency, rather they'll spend the trash cash.

Maybe people might not patronize it much but it's really nice to see bitcoin and crypto getting adopted in other industries other than financial firms. It's a good feat and I'd love to see it as more and more industries go full crypto. I don't mind paying for movie tickets with bitcoin though. People even get access to theaters these days via NFTs. How much more bitcoin.

And if the services are readily available, some crypto users will use their crypto for convenience purposes. But if the transaction fees will be expensive, I don't think they will opt for crypto payment, this is why it is important to have other alts in their payment method. Also, some people will get curious and in time, they will find a way how to deal with crypto. As long as it is available upfront, some will use this option for convenience.

nelson4lov

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Quote from: Vaskiy on November 13, 2021, 01:36:27 PM

^Snipped

People's view on the same Cheesy

Maybe one out of hundred will pay with cryptocurrency, because every crypto users ultimate goal is to stack and make profit and not to spend on mere two to three hours fun.

People never intend to spend on the valuable cryptocurrency, rather they'll spend the trash cash.

Maybe people might not patronize it much but it's really nice to see bitcoin and crypto getting adopted in other industries other than financial firms. It's a good feat and I'd love to see it as more and more industries go full crypto. I don't mind paying for movie tickets with bitcoin though. People even get access to theaters these days via NFTs. How much more bitcoin.

livingfree

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Not that bad to spend a few bucks of bitcoin for its actual use case as payment to things like this. You help to the economy of bitcoin of being used as payment and you get to enjoy.

There would be people who have bunch of bitcoins that won't mind spending on tickets for the movies that they want to watch. What a leisure of what we want to see using bitcoin. Cool

Hopefully it also happens in my country.

buwaytress

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So still not really including anyone else new or widening access then, if it's only payments via PayPal (which itself actually still doesn't even have a physical Bitcoin wallet). So this is giving more business to them and PayPal, and not making any impact at all on Bitcoin network.

Still, could be fun to see all this Bitcoin-via-PayPal users next year once (if) the actual network-interacting wallet rolls out.

so98nn

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Quote from: Vaskiy on November 13, 2021, 01:36:27 PM

[...]
Maybe one out of hundred will pay with cryptocurrency, because every crypto users ultimate goal is to stack and make profit and not to spend on mere two to three hours fun.
[...]

Or may be after reading this news peeps will start earning more crypto from crypto and will spend it right away? I mean I can imagine I could just sell my BTC at high, when it drops I would buy more and repeat this cycle. Not for gaining the fiat value but imagine the number of bits will be increasing as I keep buying all the time. This will obviously increase in the fiat value a lot more but spending straight from the crypto wallet will give me another sense as a user. This will give me another reason of happiness as I can both spend and earn money from the crypto.

As far as I know, fiat can only stay the same whether its today or hundred years from today. A dollar bill is dollar bill. A bitcoin is dollar today but could be million tomorrow. Feel the difference.

oHnK

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I see a great opportunity for film lovers to get to know and get used to crypto, and this inauguration also cannot be separated from the impact of Paypal accepting crypto as one of their newest services. Moreover, seeing that the AMC segmentation is young people, this positive impact will be felt by the crypto market. Like yesterday, there was news in my country that said the stock market was starting to be quiet from retail transactions and allegedly due to the impact of crypto right now.

Luzin

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Quote from: Poker Player on November 13, 2021, 02:57:16 PM

Quote from: Vaskiy on November 13, 2021, 02:35:44 PM

Whats the reason most of the companies prefer the integration through a third party than direct acceptance. This shows they're into business and not into making use of the bitcoin.

Does that surprise you? They accept cryptocurrencies because they have become fashionable and they want to be pioneers in accepting them, but they are too volatile. Not everyone is a visionary like Saylor.

At least they have adopted somehow what they want with crypto payments but it supports popularity. It doesn't matter about many or few making payments using bitcoin or other crypto. There are limitations regarding network density and changing prices, but AMC has announced it accepts so it won't be a problem for AMC. This is a good sign for the development of crypto.

Regarding the doge crypto currency acceptance plan it is reasonable. Doge became a very remarkable coin this year, besides that there may be factors from Elon and they believe in the development of doge in the future.

mindrust

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Disappointed. Where is shiba and doge? A meme company should also accept meme currencies. Still a good move but I expect them to widen the payment options. These are not the only crypto out there. They will probably realize that meme coins have a huge fanbase and make the necessary adjustments. Even if they add only doge, that would be enough Wink

Wexnident

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Quote from: Slow death on November 13, 2021, 03:42:48 PM

the question that will always remain will be:

will people buy bitcoin and then use it as a payment method or just buy to make hodl and earn profits, in case it is the second option (in my opinion Is the second option) who will take bitcoin to spend if you can take Fiat and spend and keep doing hodl and get big profits?

Well, I think it's based on the state of things with how crypto is? Right now I'd bet 99% would not use crypto as payment and would instead use it as an asset to invest in, to hodl as you say, and earn profits. It's no brainer really, I'd reckon it'd still take decades for people to actually acknowledge it (at least, most people) as a currency to be used rather than to be stored. Even looking at the current state of adoption really, you can't say much about it being used as currency.

Also, is OP's link dead or something? I keep getting linked to googleapis for some reason. Copying the link though I was able to open it by removing the front part, ending it just right before the cointelegraph part.

kryptqnick

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I'm not from the US, so I haven't heard of the company before, but then I read it's the largest cinema chain in the world, so this is great news! Recognizing Bitcoin as a good investment is one thing, but recognizing it as payment is another. Then again, for now they only accept cryptos via PayPal, so it's not really a full support of cryptocurrencies yet. Perhaps it's only step one, though, and if enough people show interest, they'll introduce a crypto payment processor at some point.
Since PayPal works in a very limited way in my country and thus isn't popular here, I've been meaning to ask: PayPal allows crypto payments in the US, so how does it really work? Can you pay with cryptos via PayPal at any store that accepts PayPal or does the store has to support crypto payments specifically? I guess the answer to this question means a lot to assessing how significant the AMC move is (and if there were any move at all).

aoluain

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Quote from: Poker Player on November 13, 2021, 02:57:16 PM

Quote from: Vaskiy on November 13, 2021, 02:35:44 PM

Whats the reason most of the companies prefer the integration through a third party than direct acceptance. This shows they're into business and not into making use of the bitcoin.

Does that surprise you? They accept cryptocurrencies because they have become fashionable and they want to be pioneers in accepting them, but they are too volatile. Not everyone is a visionary like Saylor.

I agree with Dave that even if they do it through paypal, this is good, it popularizes and normalizes crypto, and helps mass adoption.

And not everyone is going to HODL indefinitely. The chances are the company
are going to trade their crypto for FIAT.

Also theatre or cinema tickets would only be a fraction of anyones holding, particularly
if you have crypto since 2020 or before.

I would and do spend a small portion of Bitcoin on hobby, entertainment but not it all!

DaveF

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Quote from: Vaskiy on November 13, 2021, 02:35:44 PM

Quote from: DaveF on November 13, 2021, 02:01:15 PM

I wonder how many places are going to start taking crypto if PP does full and simple integration. Even if they are converting it to fiat for their users who want it, it's still a good thing IMO.

Whats the reason most of the companies prefer the integration through a third party than direct acceptance. This shows they're into business and not into making use of the bitcoin. Here it is PayPal, in most other it is possible to see bitpay who leads in providing similar services. AMC is open for business and they doesn't have the plan of accumulation.

Actually the reason might be it's more expensive and complicated then it looks to be on the surface.

They may never have done ANY of the back end payment network work. It might have always been through someone else. If their online booking engine payment processing always ran payments through another company brining it into their own system may not have been and never will be worth it.

It's also a big security savings. If YOU don't take the payments directly you eliminate all the liability of everyhing.
PayPal gets hacked and leaks a ton of CC info and PII not their problem.
PayPal gets hacked and leaks a ton of info about who has crypto not their problem.
Their main CC processor has a breach...still not their problem.

Easier integration and no stress. We as Bitcoiners may not like that. As a business I could see the upside.

-Dave

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Quote from: DaveF on November 13, 2021, 02:01:15 PM

I wonder how many places are going to start taking crypto if PP does full and simple integration. Even if they are converting it to fiat for their users who want it, it's still a good thing IMO.

the question that will always remain will be:

will people buy bitcoin and then use it as a payment method or just buy to make hodl and earn profits, in case it is the second option (in my opinion Is the second option) who will take bitcoin to spend if you can take Fiat and spend and keep doing hodl and get big profits?

Coyster

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Quote from: Vaskiy on November 13, 2021, 02:35:44 PM

Whats the reason most of the companies prefer the integration through a third party than direct acceptance. This shows they're into business and not into making use of the bitcoin.

The thing is that Bitcoin has become so popular, and many people also use the coin as a payment method, so these companies are trying to make things more convenient for their customers that are Bitcoin users and would want to harness the possibility of making payments through Bitcoin, they are also extending their customer base by alluring individuals that love to make payments with Bitcoin, and will most likely patronize the company that accepts Bitcoin and this establishments know it, thus they want to stay ahead of competition.

Having said that, these companies do not really care about Bitcoin, neither do we who love Bitcoin care about them, we're just important to each other, they accepting Bitcoin would gradually take the coin to mass adoption, and on the other hand, Bitcoin can help them attract more customers and make more profits, so just like that, both parties win and everyone is happy. Mind you that Bitcoin is also volatile, so they wouldn't also want to take the risk of keeping their money in the network as they prolly aren't knowledgeable about the network and would not be able to handle the pressure of a plunge/correction period.

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