Topic: Bitcoin 'Odds-On' To Be Accepted By McDonald's At End Of 2018 (Read 203 times)

With Bitcoin’s soaring popularity and the digital currency breaking through the $10,000 mark for the first time, online bookmaker Betway expects Brits to be buying their Big Macs with the cryptocurrency before end of next year and puts McDonald’s on odds of 1/2. It also offers odds of bitcoin hitting $20,000.   

It is quite interesting least. People now a day think that bitcoin will no more raise. But bitcoin is taking place in several industry day by day. And I also believe it will continue so with its power.

In connection with McDonald's and other food or other giants on the market, I have a different idea:
They are big enough but not dumb, this is why they are making such profit now. They have a staff that can tell them if it worths for them to accept bitcoin or not. If they will have the green light for bitcoin, there will be a big marketing campaign about bitcoin, so we'll see it immediately.
My idea is, that they will start to accept bitcoin if they will think (based on their own research) that the price of bitcoin will raise and for a longer period. This will let them to start a new marketing campaign with bitcoin and they are big enough to start gathering bitcoin (and not giving it back to circulation). Accepting bitcoin itself won't make them significant profit but gathering bitcoin and waiting for it's price skyrocketing will make them the expected profit. As they are big enough to finance the amount of bitcoin income somehow differently, they can make much higher profit in the end.

This is recycled news...
The article is from November 2017 and they've already changed the betting:

https://sports.betway.com/en/sports/evt/1893156

If the lightning network solves the current defect of bitcoin.
So in the future, more and more big companies will use bitcoin as a means of payment, and we can look forward to the future.

I agree that it is Indeed an economic problem ... people hoarding because they expect price to rise, and expend if they expect price to fall ...

Backing to our "nano" scale ..
Imagine you are at McDonald's queue to place your order ... the guy in front of you paid 57 satoshi for his meal, and you, the very next guy, paid 58 or 56 but not 57 ..how does it would affect other customers in the queue     ...  

The problem at the moment is that most people are hoarding their coins, because the price has dropped significantly. Everyone does

not want to be the "Pizza guy" in a few months when the price goes to a ATH again. When merchants start to accept Bitcoin, they

want people to use it, not hoard it. The solution will be for people to have quick access to Bitcoin ATMs to enable quick conversion

from cash to BTC when they enter these merchants. {You have the cash, but you want to spend it via Bitcoin} 

i have spoken to many retailers and i found something astonishing.

although the tx fee was the main thing that some merchants stopped accepting or refused to accept btc. they have said although the fee's have dropped due to the mixers intentential spam attack has subsided, merchants are not going to reimplement btc because they were promised in 2015 that LN was the solution and would be available in a relaiable fully functional customer friendly release ASAP

but now the devs are saying that its going to be a couple years until there is a consumer friendly functional version without all the limitations and broken promises.

so dont expact a fast onslaught of merchant adoption again any time soon. they are all waiting for a proven customer friendly version
(and no even if devs are playing on mainnet with their code, does not mean its even in beta stage as there are still many things the devs have not even got around to testing)

It's very cool that bitcoin does not stand still and it is interesting for such large networks as CFSI McDonald's that they always have a turnover and this will also be the diversity of currencies.

I wouldn't back any of those bets at this point in time.

It would be fun to know what is the fasted ... Mcdonald's services Vs Bitcoin price Fluctuation ... LoL

1 BigMac Index $3.99 ~ 0.00057 sat ...  You order your BigMac and by the time you receive your meal the price already changed  ...    Inflation/Deflation measured at supper high precision        

correct and i agree to that but the fact that the blockchain technology (not bitcoin) has been constantly adopted by the firms etc, i can always think of bitcoin could possibly adopted by mcdonalds and the like, but not in the near future

There is quite a chance bitcoin could be accepted but it could be hard for those establishments to fully accept bitcoin because of the volatility of its price this can also impose threats of possible loss.

For now more companies drop Bitcoin as means of payment than adopt it. I can only hope that the trend changes and the odds they present are not only wishful thinking of Betway users. You know how it works in gambling - the odds represent the clients' sentiment, not the real probabilities.

I think its more likely Elvis will be the next Queen of England than McDonalds taking bitcoin this year.

The fact that I'm going to pay odds of 1/2 against it doesn't mean it's likely to happen, just that should it happen, I don't pay out so much.

interesting to say the least

And some people are saying that bitcoin is dead because of the price drop, people should focus on the bitcoin applications instead of its price and stop looking at bitcoin as a get rich tool

To accept Bitcoin before end of 2018 - Odds

Walmart                        1/5
British Airways            1/3
McDonald’s                  1/2
Argos                             4/5
Amazon                         6/4
Easyjet                           7/4
Apple                             5/2
Primark                         3/1
John Lewis                   7/2
National Rail                4/1
Greggs                          10/1
Poundland                   10/1

Source:  Betway

Alan Alger, Betway’s Head of PR and spokesman in London, commenting said: “We are seeing fresh gains for Bitcoin on a daily basis at the moment, leading us to believe that Bitcoin could easily sail past $20,000 before the end of next year.”

He added: “With the steep increase in the number of people getting their hands on Bitcoin, we think it is highly likely at odds of 1/2 that the likes of McDonald’s will begin to accept it. I’m not sure how many fractions of a Bitcoin it would take to buy a Big Mac but it looks like we will start finding out sooner rather than later!”

Source:  https://www.forbes.com/sites/rogeraitken/2017/11/29/bitcoin-odds-on-to-be-accepted-by-mcdonalds-at-end-of-2018-but-could-it-break-20000/#4ed100ac1385

Regards to McDonald's it sounds ineterresting ...
If they run a lightning network node on every McDonald's restaurant internet access point then they even can collect fees, instead pay it to Visa ...and it would be very decentralised