Starbucks, McDonald’s, and Pizza accept BTC - page 2.

worle1bm

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Quote from: DanielBroonze on September 11, 2021, 09:00:51 PM

Just Starbucks, McDonald’s, and Pizza Hut advertising they now accept btc for payment in El Salvador.

Probably nothing though…

The images for payment with bitcoin at McDonald's is also going viral at this time where the Lightning Network channel has been used with probably zero fees.This is good move on the part of El Salvador and most of the business are now able to accept Bitcoin payments and have extra benefits from it but they can also accept legal cash.The food giants are now providing services in exchange of bitcoin payments to the residents and it's a kickstart to whole new level.Seems good with this like going out and listening how much the bill is and they say it is only BTC0.0003 or something like that and imaginary figure.

Kong Hey Pakboy

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Quote from: Pandji02 on September 12, 2021, 01:45:28 AM

Well, it was pretty obvious that they will accept it since BTC is oficially one of the Salvador's currencies. Anyway i wouldn't spend my BTC there even if they opened in my city.

That's on you but some people have a different build than you, they don't really care too much if they spend right now plus it was the original purpose of bitcoin, to be an alternative to fiat, the hodling just came second and making a profit out it.

Reatim

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Quote from: Pandji02 on September 12, 2021, 01:45:28 AM

Well, it was pretty obvious that they will accept it since BTC is oficially one of the Salvador's currencies. Anyway i wouldn't spend my BTC there even if they opened in my city.

yeah agreed and this was just being pumped because this happens recently but sooner this will be a normal thing that even buying tissue in Elsalvador is payable by bitcoin Grin

and also scenario about bitcoin being accepted will surly increase day after day because of their adoption of bitcoin as legal tender.
what i wanna wonder is that how many countries will be inspired by this and will accept bitcoin as well? or at least some altcoins?

Quote from: Blowon on September 12, 2021, 12:15:01 AM

This will affect the bitcoin market as giant companies start to glance at bitcoin as a means of payment. I'm sure bitcoin will soon experience a price increase. Twitter will soon announce the news.

so far there is no really best effect , looking at the market has no connection in the the market movement.

Kakmakr

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This is what is important about El Salvador accepting Bitcoin :

https://www.cnbc.com/2021/09/09/el-salvador-bitcoin-move-could-cost-western-union-400-million-a-year.html

https://www.cnbc.com/video/2021/09/09/el-salvadors-new-bitcoin-wallet-could-totally-disrupt-the-remittance-process.html

"CNBC’s MacKenzie Sigalos discusses El Salvador’s new bitcoin wallet, which allows for cross-border, virtually instantaneous, zero-fee transactions – a game changer for a country where 70% of the population depends on money sent home from abroad."

Bitcoin is all about disruption of large corporate businesses and Banks that are exploiting people. It has been many years that Banks and remittance services have been charging people millions in fees, when they want to transfer money to their people at home and that has to end. Their President said that this was one of the reasons why he has done this.

So, having these fast food giants accepting Bitcoin too, just make it cheaper for those people receiving the bitcoins to buy food. (They do not have to convert it to Fiat to be able to buy food there) Wink

Wexnident

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Well, I guess this helps as a start-up test towards these food chains in identifying whether crypto payments would or would not actually bring them any advantages or they could perfectly be fine without it until the time where Bitcoin adoption shoots up. I'm honestly with the latter ngl, they have no need to enforce it quickly imo, in the first place, the only reason why those stores were accepting Bitcoin was because El Salvador legalized Bitcoin as legal tender. No real advantage for food chains and other stores, advantage though towards advertising of adoption of crypto.

Pmalek

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Quote from: Blowon on September 12, 2021, 12:15:01 AM

This will affect the bitcoin market as giant companies start to glance at bitcoin as a means of payment. I'm sure bitcoin will soon experience a price increase.

The initial market response wasn't a very positive one as the value of Bitcoin (and most altcoins) decreased by 10-15% during the day when the asset was accepted as a national currency. It's still hanging around in that new range. Bu the decrease in value wasn't affected by that news alone. Coinbase's lending feature was also a major reason.

Pandji02

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Well, it was pretty obvious that they will accept it since BTC is oficially one of the Salvador's currencies. Anyway i wouldn't spend my BTC there even if they opened in my city.

dansus021

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its because in elsavador buying things with bitcoin is legal. so you will se much kind of stores that bring cryptocurency as payment.

and i just keep guessing what next country that will accept crypto Cheesy

davis196

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This news must serve as a proof about how easy it is for companies to accept Bitcoin.
For years it was considered difficult and expensive for companies and business owners to adopt Bitcoin for payments.Now,the myth is busted.
The main factor which stops companies to accept BTC payments is the regulatory frame and hostility of the governments,who don't want Bitcoin to compete with their national currencies as a legal tender.
In many countries Bitcoin will still be viewed as an investment/speculation asset,mostly due to the regulations,while in El Salvador,Bitcoin will return to it's main function-being a currency for retail payments.

Assface16678

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Quote from: acroman08 on September 11, 2021, 09:35:29 PM

I mean, it is to be expected. the government legalized bitcoin so it is the logical move for the business to start accepting bitcoin. and as time passes if the usage of bitcoin in El Salvador increases because of the legalization of bitcoin I'm pretty sure more businesses in El Salvador will start accepting bitcoin too.

This is just adaptation for the businesses in order for them to maintain the transaction. Nothing new because this is the result of the law implementation. However, it opens up new opportunity for the BTC to be used. This is also an advertisement for the others to explore what BTC is.

Blowon

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This will affect the bitcoin market as giant companies start to glance at bitcoin as a means of payment. I'm sure bitcoin will soon experience a price increase. Twitter will soon announce the news.

peter0425

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Quote from: DanielBroonze on September 11, 2021, 09:00:51 PM

Just Starbucks, McDonald’s, and Pizza Hut advertising they now accept btc for payment in El Salvador.

Probably nothing though…

Wait but i just noticed that each time there is another establishment that accepts bitcoin you created a new thread?

why not just edit your previous thread instead since the first created was "Mc Donalds accepts bitcoin" https://bitcointalksearch.org/topic/--5358856 in which we thought important to know but noticing that it is only from El Salvador, and now here added 2 new food chain?

what if there is another one then another thread?

please just create a thread that you will put everything about EL Salvador because we knew that country will be accepting bitcoin in everything purchase because it is a legal tender and considered as money already.

pooya87

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Quote from: amishmanish on September 11, 2021, 10:07:16 PM

Let us hope that one of the big exchanges implements LN and starts offering cheaper options for trading and transferring. Just one is enough as the rest will follow to keep up.

Apparently it wasn't enough to get the rest to follow since Bitfinex has had support for Lightning Network for a very long time now and I haven't seen any of the other major bitcoin exchanges follow them yet.

mk4

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Quote from: amishmanish on September 11, 2021, 10:07:16 PM

Right. But from a purely experience perspective, setting up LN payments will surely give these MNCs a taste and they may find it a good thing to make part of their offerings elsewhere. This also helps them to go through the cycle of learning a new system and implementing it.

Chances are though, unless they're Bitcoin enthusiasts to start with, they're just going to use the bitcoin wallet software the El Salvador government provided.

Quote from: amishmanish on September 11, 2021, 10:07:16 PM

Imagine if this had been implemented 5 years ago, a lot of managers would either be ruing about having lost on gains or would be sitting on Bitcoin stashes.

Highly unlikely. Most businesses(especially the bigger ones like the ones mentioned) just accept bitcoin that automatically gets converted to fiat at point of sale.

yazher

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As soon as their government implemented it, they need to upgrade their payment system to that so that they won't be outdated to their customer's way of payment. This is what to expect when the whole world accepts bitcoins as one of the means to pay for everything. To be honest, it's a good thing to see we have such kind of preview, and all of that thanks to the government of El Salvador for their consideration and acceptance of bitcoins.

amishmanish

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Quote from: acroman08 on September 11, 2021, 09:35:29 PM

I mean, it is to be expected. the government legalized bitcoin so it is the logical move for the business to start accepting bitcoin.--snip--

Right. But from a purely experience perspective, setting up LN payments will surely give these MNCs a taste and they may find it a good thing to make part of their offerings elsewhere. This also helps them to go through the cycle of learning a new system and implementing it. Imagine if this had been implemented 5 years ago, a lot of managers would either be ruing about having lost on gains or would be sitting on Bitcoin stashes.

Related to this, people, were busy trolling these centralized exchanges about how McD and Starbucks have implemented LN before the exchanges. Though it is understandable that the exchanges wouldn't like to lose on the fee they charge for transfers to your accounts. Let us hope that one of the big exchanges implements LN and starts offering cheaper options for trading and transferring. Just one is enough as the rest will follow to keep up.

DapanasFruit

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Business is business and they are always looking out for ways to make more sales, more customers, more profits. And since Bitcoin is now a legal tender in the country, these famous outfits would naturally be welcoming Bitcoin into their doors. What is good with this is that they are actually advertising Bitcoin not just within the country but also outside...and the media can be able to pick it up. Let's hope that the romance between El Salvador and Bitcoin would be "forever" and there can never be a dramatic divorce.

acroman08

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I mean, it is to be expected. the government legalized bitcoin so it is the logical move for the business to start accepting bitcoin. and as time passes if the usage of bitcoin in El Salvador increases because of the legalization of bitcoin I'm pretty sure more businesses in El Salvador will start accepting bitcoin too.

DanielBroonze

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Just Starbucks, McDonald’s, and Pizza Hut advertising they now accept btc for payment in El Salvador.

Probably nothing though…

Topic: Starbucks, McDonald’s, and Pizza accept BTC - page 2. (Read 295 times)