[Russia] Burger King to accept Bitcoin this summer!

[doedz]

This is not big news in my opinion, Russia is a big country and bitcoin has been legalized there. If this is applied in my country this can be called as historic news. I hope soon.  

it's big because in russia bitcoin was not legal before and now they made it legal and it's regulated and some shop accept it i can agree that a shop that do foods service and accept bitcoin isn't that big for adoption, but it's a step, btw what is your country?

I'm from Southeast Asia, exactly Indonesia. In my country Bitcoin is still less popular. Only a few people use it.
When I heard about the use of Bitcoin in other countries, I always ask: When will the Government legalize Bitcoin?
I'll guess, you're from Russia? 

Same here i do live on SEA and bitcoin isnt too popular on my country which im little bit jelous on those places who do have already some establishments who do accept bitcoin. Im hoping that it will reach out on my country soon and hope those business would accept worldwide and its really a good thing for us bitcoin users.^^ Government wont really legalize bitcoin in most cases.

You may be part of a good campaign to introduce Bitcoin to the Community in your country. I do it gradually, most people always laugh and think this is a joke. Traditional societies are very difficult to accept new technology and suspect that Bitcoin is very dangerous.

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[GoLtA]

Apparently this is something made just through the Russian Section, mostly due to how many russians are using bitcoins and the popularity in the country, Hopefully the other chains follow and globally, rather than just locally.

[danjonbit]

Best news so far, Hopefully all named store will accept bitcoin, for an easier transacation. ...... regretfully though, it is not yet in my countryt

[deisik]

I am really curious about a technical side of this project, what about bitcoin fees? Burger King is not some luxury restaurant where meals cost hundreds of dollars.
Currently, bitcoin transaction fee is probably equal to the cheapest burger you can get at Burger Kind. How exactly are they gonna solve this issue?
Someone said that they will simply accept payments only from Xapo or Coinbase and steer in the way of off-chain transactions. Is this even doable?

What is (not) doable here?

You send your money from your account at Coinbase to another account there using an email address, which is your login (so you don't even need to know the Bitcoin address of the recipient). I had (and likely still have) like three wallets at Coinbase, and in the past I often moved funds between these accounts without delays and paying any fees. I haven't transferred coins in this way for a few years already, so maybe it is possible to do by using your alias or something to that tune (I'm not using this web wallet anymore)

[Netnox]

I am really curious about a technical side of this project, what about bitcoin fees? Burger King is not some luxury restaurant where meals cost hundreds of dollars.
Currently, bitcoin transaction fee is probably equal to the cheapest burger you can get at Burger Kind. How exactly are they gonna solve this issue?
Someone said that they will simply accept payments only from Xapo or Coinbase and steer in the way of off-chain transactions. Is this even doable?

What is (not) doable here?

You send your money from your account at Coinbase to another account there using an email address, which is your login (so you don't even need to know the Bitcoin address of the recipient). I had (and likely still have) like three wallets at Coinbase, and in the past I often moved funds between these accounts without delays and paying any fees. I haven't transferred coins in this way for a few years already, so maybe it is possible to do by using your alias or something to that tune (I'm not using this web wallet anymore)

Coinbase is a third party payment processor and this means that Burger King will not be directly accepting Bitcoins from the clients (if they decide to accept Coinbase payments). But the issues with delayed confirmations and high fees can be resolved by using Coinbase. Burger King will also benefit from it. I don't know how much they charge the merchants, but I believe that it is somewhere around 0.5%.

[Ctn]

Thats pretty awesome news for Russia. But how come the country where Burger King was born is not int he news? They should have done it before or may the government rules are different in different countries is causing them to accept it freely. That would actually help bitcoin rose to bigger value now. Just imagine people are not known to this currency will say, wow whats that, a foreign currency ? Then the vendor will say no sir/madam it is the world’s currency! That would be fun and they should post the reviews of customer somehow to get legit responses and valuation of bitcoin.

[Ctn]

Thats pretty awesome news for Russia. But how come the country where Burger King was born is not int he news? They should have done it before or may the government rules are different in different countries is causing them to accept it freely. That would actually help bitcoin rose to bigger value now. Just imagine people are not known to this currency will say, wow whats that, a foreign currency ? Then the vendor will say no sir/madam it is the world’s currency! That would be fun and they should post the reviews of customer somehow to get legit responses and valuation of bitcoin.

[Duzter]

This will be again a success story. Russia has got lot of bitcoin users, till date I feel that Russian government hasn't opposed as well haven't shown any interest on bitcoin. Soon government might focus on adoption of bitcoin through this service from the burger king as recently one of the biggest retailers of Russia too started accepting bitcoin.

[Hui8]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries.

[deisik]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries

I wouldn't be overly enthusiastic about that

As long as they convert the proceeds into fiat (provided they actually receive bitcoins at all and don't use some payment processor like BitPay, which does the conversion for them), this is nowhere close to "brands big and small going into bitcoin and leading the whole new era". I guess we should wait till all these big and small brands start paying wages in Bitcoin directly. Until then, it is not a lot different from first selling your bitcoins for fiat all by yourself and spending cash later. In the latter case you will most likely pay even less in total for a typical hamburger

[OROBTC]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries

I wouldn't be overly enthusiastic about that

As long as they convert the proceeds into fiat (provided they actually receive bitcoins at all and don't use some payment processor like BitPay, which does the conversion for them), this is nowhere close to "brands big and small going into bitcoin and leading the whole new era". I guess we should wait till all these big and small brands start paying wages in Bitcoin directly. Until then, it is not a lot different from first selling your bitcoins for fiat all by yourself and spending cash later. In the latter case you will most likely pay even less in total for a typical hamburger

deisik, I see and understand what you are saying (merchants only "accepting" Bitcoin via BitPay), but, the more merchants who actually DO that will have more people using BTC and eventually some will likely accept BTC directly.  (Of course I do not KNOW that)

The more that BTC is used, the better.  Yes, the more merchants who take it directly, the better.  Also, BitPay takes a "cut" of about 1% (at least with providentmetals.com when I have paid for gold w/ BTC).

[deisik]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries

I wouldn't be overly enthusiastic about that

As long as they convert the proceeds into fiat (provided they actually receive bitcoins at all and don't use some payment processor like BitPay, which does the conversion for them), this is nowhere close to "brands big and small going into bitcoin and leading the whole new era". I guess we should wait till all these big and small brands start paying wages in Bitcoin directly. Until then, it is not a lot different from first selling your bitcoins for fiat all by yourself and spending cash later. In the latter case you will most likely pay even less in total for a typical hamburger

deisik, I see and understand what you are saying (merchants only "accepting" Bitcoin via BitPay), but, the more merchants who actually DO that will have more people using BTC and eventually some will likely accept BTC directly.  (Of course I do not KNOW that)

I also I understand what you mean

But even if we assume that an infinite number of merchants are willing to accept Bitcoin right now, not so many people will be eager to part with their bitcoins, at least, as long as Bitcoin allows them to reap profits doing basically nothing ("buy low sell high"). This is an obvious case for Gresham's Law. But if Bitcoin turns toxic one day, do you really think anyone will be willing to accept it?

[deisik]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries

I wouldn't be overly enthusiastic about that

As long as they convert the proceeds into fiat (provided they actually receive bitcoins at all and don't use some payment processor like BitPay, which does the conversion for them), this is nowhere close to "brands big and small going into bitcoin and leading the whole new era". I guess we should wait till all these big and small brands start paying wages in Bitcoin directly. Until then, it is not a lot different from first selling your bitcoins for fiat all by yourself and spending cash later. In the latter case you will most likely pay even less in total for a typical hamburger

deisik, I see and understand what you are saying (merchants only "accepting" Bitcoin via BitPay), but, the more merchants who actually DO that will have more people using BTC and eventually some will likely accept BTC directly.  (Of course I do not KNOW that)

I also understand what you mean

But even if we assume that an infinite number of merchants are willing to accept Bitcoin right now, not so many people will be eager to part with their bitcoins, at least, as long as Bitcoin allows them to reap profits doing basically nothing ("buy low, sell high"). This is an obvious case for Gresham's Law. But if Bitcoin turns toxic one day, do you really think that anyone will be willing to accept it? So we are essentially between the nether and upper millstone here, and, as the saying goes, Bitcoin is damned if it does and damned if it doesn't (get accepted)

[OROBTC]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries

I wouldn't be overly enthusiastic about that

As long as they convert the proceeds into fiat (provided they actually receive bitcoins at all and don't use some payment processor like BitPay, which does the conversion for them), this is nowhere close to "brands big and small going into bitcoin and leading the whole new era". I guess we should wait till all these big and small brands start paying wages in Bitcoin directly. Until then, it is not a lot different from first selling your bitcoins for fiat all by yourself and spending cash later. In the latter case you will most likely pay even less in total for a typical hamburger

deisik, I see and understand what you are saying (merchants only "accepting" Bitcoin via BitPay), but, the more merchants who actually DO that will have more people using BTC and eventually some will likely accept BTC directly.  (Of course I do not KNOW that)

I also I understand what you mean

But even if we assume that an infinite number of merchants are willing to accept Bitcoin right now, not so many people will be eager to part with their bitcoins, at least, as long as Bitcoin allows them to reap profits doing basically nothing ("buy low, sell high"). This is an obvious case for Gresham's Law. But if Bitcoin turns toxic one day, do you really think that anyone will be willing to accept it? So we are essentially between the nether and upper millstone here, and, as the saying goes, Bitcoin is damned if it does and damned if it doesn't (get accepted)

Well, I guess all of that is just part of the fun, the charm of being involved with such an experiment.

I don't have any good idea of how this will all end, I hope that BTC's elders get their act together and SOLVE the scaling problem(s).  If they do, that would likely be quite good for BTC.  If not, well, um not so good.

There are many ways the whole Bitcoin experiment could go bad.  But, it could also work our great (for us), assuming that it is not some nefarious plot by .govs to control our money (and hence control us).

[agatha818]

I love burger king! but not sure if i would spend my bitcoin on some fastfood chain, i think it is worth saving, not spending, just sayin'

[MWesterweele]

Looks like bitcoin is hot now a days. This was supposed to happen one day. All the brands big and small will go into bitcoin and will lead the whole new era. These are big investors and they will becomes whales too. Hope to McDOnald, Dominos and KFC to jump in too. Hope that they will become available throughout the world and not just Russia itself. I am feeling that Russia is trial for Burger King and they might take it to other countries.

It is good that bitcoins is most popular among all other cryptocurrencies and i think many other establishment will soon legalizes it too. Im so happy that there will be one big company already legalizes it.