Bitcoin Forum

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

Probably nothing though…

https://i.imgur.com/JH7EzBX.jpg

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.

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.

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.

As soon as their government implemented it, they need to upgrade their payment system to that so that they won't be outdated to their customer's way of payment.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.

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.

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.

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.

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://bitcointalk.org/index.php?topic=5358856.msg57887591#msg57887591 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.

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.

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.

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.

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  :D

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.

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.

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.

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)  ;)

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

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.

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.

Can we pay with BTC in those American chains in any other country now that they set up the software which supports that? Would be good if they expand that elsewhere.
Also does anyone know if price menus are also in BTC or it calculates before payment?

hope this will also be emblazoned in our country . With the existence of various payment options including bitcoin, it is very easy for bitcoin users. And indirectly this is a good promotion for bitcoin, which is more positively recognized and growing more rapidly than before. This is good news and it is hoped that all services can follow in their footsteps.

Clickbait title. Please change it to "Starbucks, McDonald’s, and Pizza accept BTC in El Salvador".

The main good news is that BTC is a legal tender, that's all. Companies domiciled in El Salvador are of course just going with the mainstream or complying with local government policies (as I read that it's a must (https://bitcointalk.org/index.php?topic=5358691.msg57889892#msg57889892)) if they don't want to be prosecuted.


And people still can't escape the bank's snare as long as they use fiat (even if it's only to fix the price of the item). Deposit bills must still be paid.

Since El Salvador requires tender and business to accept bitcoin as a means of payment, every single business will eventually be added to a never ending expanding list.

Regardless, what’s interesting to see is how some of these TXs take place, the ease of use (not always), and the speed at which some take place. Here’s a video of some TXs made with bitcoin to make purchases at Starbucks & Pizza Hut in El Salvador, alongside some other additional cases (remittance, etc.). The video mentions using Strike app to make the purchases, and the experience is extremely smooth:

https://www.youtube.com/watch?v=R0uSx3mmE5c

Step 1: Create topic about x business accepting BTC
Step 2: Hope that you someone sends some merits
Step 3: Do it a multiple times
Step 4: ? ? ?
Step 5: Profit

Totally agree, but maybe taking some time read would be enough to clear the confusion, it's not that dangerous of a clickbait title so not to worry but that doesn't excuse OP to do this kind of thing again.

You have summed it all lol  ;D ;D ;D , that is the literal objective from doing such  ;) and Yeah he had got another merits , like what he does recently in McDonald's thread he created  8) ..Hope this is the last because maybe in the following days even 7/11 and Dunkin donut will be the title of His thread .

Misleading title. Modify the title by adding 'in El Salvador' at the end. Omitting that part makes it seem like Starbucks, McD and Pizza Hut are accepting BTC globally which is completely wrong obviously.

Also, another thread regarding this topic was created recently with a similar misleading title. Shared the link below.

https://bitcointalk.org/index.php?topic=5358856.0

When we are talking about this news, it's clearly is El Salvador where they have already made bitcoins a legal currency therefore at the end of the day this is something that is predictable and something that is acceptable. I do think that this is actually a small point, I do feel the government should work forth and make advancements in the already available, wallets, lightning network etc. To make things better, like ofc there will be times where they might have to inform the developers and ask their help in advance but this might be the far cry to finally make the lightning network safer!! I would be astonished if they used it in public transportation etc..

I thought that it would be happened. It is now live and people are able to buy through bitcoin. Bitcoin will be the most popular country all over the world. We need a global decentralized payment method and it might be bitcoin.

There is already another topic about McDonald’s accepting bitcoin here: https://bitcointalk.org/index.php?topic=5358856.0
But, that's new regarding Starbucks. I don't think if Starbucks accepts bitcoin in any other country but El Salvador already checked that in my own country and it's not accepting yet however you can convert and exchange bitcoins using some apps but it's not acceptable in any other country. Since I see El Salvador is adopting way too fast I expect to see even more markets accepting bitcoin there in El Salvador soon.

As someone that just used google translator to see what those lines exactly meant in the stickers, I didn't like the ones used in Starbucks and Pizza Hut ^{[it translates to "EXCLUSIVE BOX OF bitcoin (https://i.imgur.com/hWIxpwl.jpg)", which is weird]} while the way McDonald's did ^{[it translates to "NOW you can pay with BITCOINS at McDonald's (https://i.imgur.com/Z0E1bT7.jpg)"]}, made more sense.

- Does anybody know what the line below the mobile icon says in the McDonald's ad ^{[this is the "clearest (https://pbs.twimg.com/media/E-3V4fVX0AEilBz?format=jpg&name=medium)" one that I could find, but I can't still read all of the letters]}?

Wow, you're right... That was surprisingly smooth ^{[Strike, please expand to more countries :)]}!

Since El Salvador has made Bitcoin an official currency of the country I think it's a must for these restaurants to start accepting Bitcoin as a method of payment, citizens would start to invest and settle payments using Bitcoin so I think it's a necessary move for stores and restaurants to actually start receiving Bitcoin.

Bitcoin is so popular even before when it was at the 20k value wherein many companies, fast food and etc were accepting bitcoin as a payment method, so these isn't surprising anymore as it's at the highest level, i mean there will be more adaption in the future and that's for sure.
Infact even in movie they're are now using bitcoin , just search this movie title "silk road"and you will see. By the way on that movie it's an illegal way of bitcoin, but hell yeah its a big help or should i say a nice way to promote bitcoin..  ;)

Actually it's just another normal day because those stores are located in El Salvador that just have their first week of accepting bitcoin because their government just made bitcoin a legal tender. There are still a lot of people that don't understand what bitcoin is and how to use it. But time will come that majority of them will get to understand what bitcoin really is and how they're going to have their lives better with the help of it. Yes, it's a good news but only those people in their country can enjoy this.

But how will they overcome price volatility of BTC. BTC week back is 50k and now its around 45 - 46k? Do they convert BTC to fiat instantly or government is bound to pay them fiat at fix rate. I googled but wasn't able to find answer of that
Starbucks, Pizza Hut and McDonald’s Take Bitcoin in El Salvador (https://www.bloomberg.com/news/articles/2021-09-08/starbucks-pizza-hut-and-mcdonalds-take-bitcoin-in-el-salvador)

Maybe the difference in El Salvador these days is that it is recognized as legal tender in their country. With this reason, people will be more trusting as the government themselves are promoting the use of it. I am certain more shops will follow thru not only these popular food chains. Would be nice if more countries will join this move, but I understand it will take planning and assessment for the government.

I think it's the same writing in a better quality image in another banner: Aceptamos pago en Bitcoins en cualquier compra / We accept payment in bitcoins in any purchases.

https://pbs.twimg.com/media/E-y75DiX0AIZtRr.jpg

Sorry for the huge image, but it must be readable. :D

This is what bitcoin was meant to be in the first place anyway. A coin that could be used in place of, if not to completely replace, fiat currency. There are multiple accounts of bitcoin-natured purchases in the past even when bitcoin wasn't as valuable as it is now. AFAIK 50 cent even racked 700 bitcoins in 2014 when he signed it to be purchasable with bitcoins. So it's not like this is something that should surprise anyone. Then again these types of events will be the ones who will spark bitcoin's road to global acceptance and in result, adoption. Not a must because it is a government mandate, but a must because if they do not, they might get left behind and this in turn could result in them losing relevance. Which is why they are obliged to allow bitcoin payments in there to facilitate the trend and make use of it while allowing bitcoin to be used as a bona fide currency within their country. What I would be interested of however is if they could carry this out for the years to come or if they will stop all of a sudden when the trend dies.