Bitcoin Forum

Acouple of days back the bitcoin market was gaining some slightly increase in price but every thing change since Wednesday and when speaking with a friend online he sent a me a YouTube video (https://www.youtube.com/watch?v=3nDdRWYdtqY) of McDonald planning to create their own coin. He said the coin was the reason why the market is down and I don't believe him but McDonald have more capital than cryptocurrency this year.
What's your thought guys?

This isn't true.A rumor can`t make the btc price to drop by 10%.This Mcdonald coin isn`t even developed and launched yet.Anyway,I like the idea that some big and well known company,such as Mcdaonald's will create it`s own cryptocurrency and let it's customers to purchase food with that currency.Perhaps all the people,who buy food at Mcdonald's will have to opportunity to find out more about how crypto works.

AFAIK, this is just a meme coin doesn't have any correlation to the market.

Actually it can. Of course, not a rumor about a worthless meme coin, but the market is still speculation driven and rumors can have quite some effects.

no it can not. and your friend was most probably trolling you.

people aren't just going to sell bitcoin (a decentralized currency with scarce supply) just because McDonal coin may be created (a centralized coin with limited usability and unlimited ontrolled supply).

Nothing changed bro! The market is always bound to fluctuate most times, and people always look for every possible happenings or fundamentals around to justify the movement of the market even if it sounds absurd to them. It is a speculative market, so it is not surprising to see people come up with lame justifications like this.

This is a very complex market growing each and everyday, how on earth is McDonald capital going to be able to affect the whole market as a whole? What makes the coin different from any other coin in the market except for it ending up as a utility coin which is not new? As far as I am concerned, what your friend said was just B.S.

McDonald's coin certainly can not cause a dip. But rumor can have a very big impact on the market. Widespread in the respective media can quickly authenticate and become a source of much confusion in the markets.

how is this even a question that you asked? this is too obvious! you or your friend are trying to generate views for that vide ;)

in any case here is the summary of what is happening:
on August 2nd (50th anniversary of McDonalds) they decided to do a give away to their US customers who buy a Big Mac.
what they are giving away is a physical token.
these customers have to go back to another McDonald chain after 1 day at least until end of the year to give that token and receive a free Big Mac!

now I leave it to you to decide whether this is even remotely related to bitcoin or not :D

edit: in case anyone was interested this is how the token looks like:
https://i.imgur.com/ZWNlXt1.jpg

#CelebrateObesity

I can't believe that you actually give it a thought that the launch of McDonald's coin would cause a drop in the price of bitcoin. The same McDonald's that is not even present is several countries of the world which means not touching some particular people of the world. If you actually believe that, how much effect would you be considering Facebook that have presence in more countries than McDonald's or Apple or Microsoft even Venezuela or the purported Iran coin would cause?

This is not to discredit the new coin launched, but the point is that the effect it would cause is not enough to pull bitcoin price down. Price will rise and fall without any issue due to the people participating in the market but because we are always out to look for answers, we tend to attach it to any event that happen at that point which was merely coincidental.

Great just what we need, another meme coin to make the crypto market look like an even Bigger joke. This stuff does a disservice to Bitcoin for sure. IMO these crap coins make the general public perceive crypto as being less serious, and more as just internet coins and nothing more. Oscar Meyers BaCoin did the same thing.

I can trace this all back to the crap ICO market. The illegitimate ICOs flooded the market which hurt the publics perception of Bitcoin (at least from all the crypto laymens that I have talked to). These crap ICOs are designed to make the "founders" rich, with their fake and poorly written whitepapers and awesome photoshopped images of themselves.

Mcdonaldscoin will not exist really, its just a joke. It may affect BTC in the short term (doubtful) but long term this will be a nonissue. Only a matter of time before all of these garbage coins go up in smoke.

No, it is not the reason for anything. It is just another coin, just named as it is. It cant do anything to the markets. Markets are just doing their thing and will be doing it whether mcdonalds coin is out or not

Mcdonalds is actually the best coin there could ever be. I have seen a funny caps that talked about how mcdonalds papers have more value than dollars. There was a person saying they give out a paper that says you can get a big mac for free with that promotion paper, now that paper is backed by a big mac from mcdonalds.

Dollar however is no longer backed by gold which means it is just pure speculation EXACTLY the way bitcoin is. Now if you create a mcdonalds coin that can be spent on mcdonalds against real products that mcdonalds sell, you are getting a coin that is backed by mcdonalds products, a real life thing.

You can't buy big mac with bitcoin, bitcoin is not backed up by a company, bitcoin is basically what we value it, dollar is exactly the same, you can buy a big mac with it, however it is not backed by big macs. A mcdonalds coin is more valuable than both dollar AND bitcoin to me. Yes... I am fat.

It's just another dumb marketing move. We have been seeing this in crypto for ages. Many companies use the terms "blockchain" and so on in order to stay relevant and get free press. A clear example is when Kodak said they were going to release some sort of cryptocurrency and their stock skyrocketed. Probably a nice time for Kodak shares bagholders to dump. Exit scam? who knows.

The point is, all these brands have nothing to compete against Bitcoin. No one with a brain and money to spend on crypto is going to host their wealth on a crypto developed by a company that is specialized in fast food, they will go to the elite developers and infrastructure coin (Bitcoin).

All these big brands can do is create big pump and dumps, not long lasting projects.

I agree, and I think the smaller and more volatile the market, the more susceptible that market is to rumor and news.  Bitcoin is relatively small and certainly is volatile.  That said, I don't think any coin issued by McDonald's is going to have much of an effect.  I hadn't heard anything about it, but to me it sounds pretty stupid.  McDonald's doesn't need its own cryptocurrency and if they create one, it'll basically be a gift certificate--you'd have to purchase it with fiat and could only spend it at McD's (though I haven't read anything about it yet and I may not know what I'm talking about).

Bitcoin is down in the past few days because after popping up to $8400 or whatever it got to, people are taking their profits off the table.  I think a lot of speculators made money after a period when it was stuck at $6000, and they're cashing out.  I don't think any coin McD's made or is planning to make had anything to do with it.

I knew how powerful information is, how rumor can change the thought of the investors and how it could cause FUD in the market which is why i'm starting to believe that there is possibilities that the McDonald coin does have something to do with what the market is facing.

Maybe they have some effect or not. Depends on yhe situation.

No. Don't be daffy. It's not a coin in any way. It's a redeemable voucher in effect.

It is an interesting one though. If McDonald's made them valid forever that makes them a vastly better store of value than the USD. They'll always be worth one Big Mac no matter how shitty and worthless your dollar bill becomes.

It might wake some people up as to what money actually is.

This. I love the fact that you hate/dislike the dollar.

I wouldn't be surprised if people do some crazy ass shit to get these Mac-coins, like burglary, and all sort of the good stuff.

Back to maccoin affecting bitcoin's price, who, who in the right mind would think of such a possibility. These mac coins don't have a monetary value. That's stupid. People need to go to kindergarden again.  :-X

Bitcoin's market is more than just small, in fact its quite a big one. And just so you know, Mac coin is not a crypto. Its a freaking physical coin, like the ones used in arcades.

Tons of big companies out there operating at the billion dollar level and no reason to fear any of them.   Its quite predictable to see what token a company like McDonalds might create, it would in no way be decentralised or available for development by the community.  It would just be a promotional device like many schemes before it, with no investment or even speculative value unless you consume giant amounts of their food perhaps  ;D

The cool thing about Bitcoin is the best devs are all already rich from being early adopters, so they can't be bought... there is nothing to win about moving into developing some shitcoin other than ruining your reputation for accepting a bribe. If at least they were broke I would understand that but they are most likely all very well off.

This creates an incentive for the best devs to keep supporting and improving Bitcoin. In other words there is nothing to fear about some big corporation "putting together a team" an then trying to buy some of the best devs in the space to move from Bitcoin into their shitcoin: it's not going to happen.

cough cough....bitcoincash....cough ver puppets

Back to the topic, it makes me really sad...
I'm amazed to see such a level of ignorance from high ranking forum members.

It's a fword voucher shaped like a coin, you can only redeem it once for another big mac!!!

And you know what, I got one!!!
Now I'm going to be labeled a McDonald's shilling as I will try to pump this coin to reach the value of.....2 Big Mac!!!!


Nope, valid only in 2018. (http://news.mcdonalds.com/stories/our-food-details/big-mac-50)

None of which are bitcoin devs anymore in any capacity. They aren't in Bitcoin Core and they aren't Bitcoin devs in general as they are working in an altcoin. Therefore Bitcoin devs cannot be bought, you just end up kicked out one way our another.

Gavin and Mike sold off to US government way before BTC went up to $1000+ anyway, so they never had as much money as current devs. The longer the time goes on the richer devs (which are holders) become, so the less incentive to sell off. Also given past precedents, they don't want to ruin their reputation just like the aforementioned.

It good to hear that and I hope to literally generate something good for cryptocurrency. However, I don't think McDonald will make them valid forever.





Well, we can't in anyway blame Gavin because he was once a politician and all old and new politician usually have the act of backbiting

I also do not think so, bitcoin is the strongest crypto currency and no other currency has the power to cause the dip of bitcoin. I think that there are already some good altcoin but even they do not have any impact on bitcoin. therefore there are less possibilities to happen that.

No, I don't think that this news has something to do with bitcoin current slump in recent days. Do you think that they will just pour all their capital on their coin to tip the balance on their favor? I don't think so.

Investors are simply cashing out in the last couple of days and usually this dip happens on weekends anyways so I'm expecting that bitcoin will go above $7K and probably hits $7100-$7200 this week and as we get closer to the EFT decision, we might see a slight spike on the price.

Lol. Mcdonald coin that's funny. It's not even as established as majority of alts in the top 20 and hasn't been on a lot of exchanges. It's like a parody though it could have real use in the future but no way it can have an effect on bitcoin

in my opinion McDonald's will not be able to influence the decline in the price of bitcoin, but that can happen if McDonald's has a lot of bitcooin and no buyer opens a buy order.

He's just trolling you brother or just simply dumb to think that particular thing can really give affect on the entire market. How he can consider that possibility which the market do involve billions of dollars on overall cap?
Even Mcdonald would have the capability they wont still tend up to risk their funds on engaging themselves to crypto but I do rather believe they would create their own coin for their common purpose.

There is no a link between traders ditching their bitcoins for the McDonald coin, the bearish trend of bitcoins seen in the past days have not a single factor either the rise  of a new coin or the regulations of the ETF by SEC.

McDonald coin is just a coin for McDonald business but nt for entire crypto market so we no need to worry about mcdonald coin with bitcoin market both are in different direction

Sincerely I eat rarely from Mc Donald...however I bought my first coins ...I'll give them to my daughters in a few years. Good luck!

Why not worry ? Mc donald is verry popular all over the world and if this coins is related to them , for sure it can attract more buyers pretty easy so this will be a huge threat to bitcoin as well as on other cryptos  .


You dont need to be a fan of mcdonald's to be able to buy and hold this coin because anyone can always have the ability to do it .  you dont also need to spend it directly on mcdonald's but you can trade and hodl it for a profit .

Giving some to your daughter is also a good idea rather than giving her a cash

Half a year since the promo is over, you two have really no f-word idea what this McDondals coin really was, right?
Where did you buy them, Binance?  ;D ;D ;D
You know the difference between cryptos and collectibles?