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Author Topic: McDonalds to accept Bitcoin by 2018  (Read 8158 times)
Displux
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December 01, 2017, 02:05:20 PM
 #1

https://cryptodaily.co.uk/2017/11/mcdonalds-accept-bitcoin-2018/
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kueyen
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December 01, 2017, 02:08:12 PM
 #2

Does that even make sense with the current transaction times and fees? You are going to pay more for the fees than for your meal. Unless the fees go down drastically, it makes no sense to use bitcoin as a daily payment method.

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December 01, 2017, 02:14:07 PM
 #3


All the news i have read from crypto daily seem fake to me. I wouldnt trust that website
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December 01, 2017, 02:17:08 PM
 #4

That is good. maybe i can order some food with 0.000xx btc i have.
it would be great if it happened, because I am sure, many companies will follow this if it really develops. moreover this is free advertising.

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December 01, 2017, 02:19:15 PM
 #5

Maybe that is really true. As one of the richest restaurant in the world, if they do not start the trend who will?  Tongue

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December 01, 2017, 02:20:59 PM
 #6

Does that even make sense with the current transaction times and fees? You are going to pay more for the fees than for your meal. Unless the fees go down drastically, it makes no sense to use bitcoin as a daily payment method.

True, the average fee for an average non-segwit transaction at this moment is 38,420 satoshi's (0.0003842 BTC), in fiat that's about $4.
However, there are ways to avoid these fees:
- use the lightning network (in the future): no need to wait for confirmations, very low fees
- use a segwit wallet: lower fees
- use a prepaid card: fund your card using $100 or more in BTC, the funds only become available once the transaction is confirmed, the card doesn't expire, so the user can just fund it once and use if for loads of meals... This would allow users to cheap out on the fees, as long as they funded their prepaid card a couple of days in advance.

I'm not saying that this is what mc donalds will be doing.. I'm just saying there are ways to lower the impact of the high transaction fees.

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December 01, 2017, 02:24:18 PM
 #7


Get me this news from the Mcdonalds website itself or at least a bit more trusted website or it never happened.


Quote
- use the lightning network (in the future): no need to wait for confirmations, very low fees

We still have no idea when this will be, do we ?

Quote
- use a prepaid card: fund your card using $100 or more in BTC, the funds only become available once the transaction is confirmed, the card doesn't expire, so the user can just fund it once and use if for loads of meals... This would allow users to cheap out on the fees, as long as they funded their prepaid card a couple of days in advance.

This is just a work around and people won't be ACTUALLY using bitcoin but just another normal banking system plus they have to trust that company from which they buy the cards.

Btw, do you know of any reputable services which give prepaid cards for btc that you DID use ?
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December 01, 2017, 02:26:39 PM
Last edit: December 01, 2017, 03:17:09 PM by stompix
 #8

CLICKBAIT TITLE

When you see a newbie posting a blog link,with such a title it's 99% clickbait.

Quote
Recent news around Bitcoin could be very tasty for fast food lovers! Betting giants Betway have released odds for people to take on the cryptocurrency being accepted by McDonalds by next year. It seems that the sharp rise in the price and mainstream popularity of the cryptocurrency has led to a real feeling that the fast food giants will accept it as a payment method soon. Currently, the betting is 1/2 and this could see many people taking the wager with odds so short.

Long storyshort and I will save you 5 minutes from your life searching for official news...

Betway has launched a betting pair, and you BET if McDonalds will or not accept bitcoin by 2018.

However, there are ways to avoid these fees:
- use the lightning network (in the future): no need to wait for confirmations, very low fees
- use a segwit wallet: lower fees
- use a prepaid card: fund your card using $100 or more in BTC, the funds only become available once the transaction is confirmed, the card doesn't expire, so the user can just fund it once and use if for loads of meals... This would allow users to cheap out on the fees, as long as they funded their prepaid card a couple of days in advance.

You realize that the 3rd is not about using bitcoins a restaurant at all?
You just pay in fiat and the restaurant receives fiat, you're just exchanging coins from fiat with your cc card issuer.
Although I must say that probably 90% of the business who "accept" coins are using a 3rd party payment gateway like Bitpay and they get fiat not BTC



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December 01, 2017, 02:28:25 PM
 #9


Why not? Most of the people nowadays knows McDonalds , and it is very essential for bitcoin to be introduced in different country but the thing is are the people surrwounds were willing to accept it as way payment? As soon as possible? I think it will happened but not in 2018

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December 01, 2017, 02:31:26 PM
 #10

Does that even make sense with the current transaction times and fees? You are going to pay more for the fees than for your meal. Unless the fees go down drastically, it makes no sense to use bitcoin as a daily payment method.
Yes, that would make sense. Mc Donalds simply could have its own miner service or could offer similar solutions for example sell coupons online or offer Bitcoin prepaid cards or sell paper wallets with certain account .
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December 01, 2017, 02:31:50 PM
 #11

Although I support BTC, I want to know what the practical advantages are? Do you need to pay two burgers for a hamburger?

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December 01, 2017, 02:38:08 PM
 #12

I really think this is gonna happen in the future because many merchant right now are really getting interested in holding bitcoin right now, and I have realized recently that there are now many in my country that are now accepting bitcoin, And I really think that even if bitcoin doesn't have a huge amount yet back then many had seen the potential of bitcoin to be use in a direct transaction.
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December 01, 2017, 02:40:55 PM
 #13

I really think this is gonna happen in the future because many merchant right now are really getting interested in holding bitcoin right now, and I have realized recently that there are now many in my country that are now accepting bitcoin, And I really think that even if bitcoin doesn't have a huge amount yet back then many had seen the potential of bitcoin to be use in a direct transaction.
If this is really happening then it is a great thing of course. This is a very high advance because in the end bitcoin can be used for everyday transactions. We must appreciate and continue to support places that can accept bitcoin.
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December 01, 2017, 02:44:34 PM
 #14

In the first glance, the news sounds good. But Bitcoin is not suited to fast food chains as payment gateway. Bitcoin is so huge and slow. Mc Donalds might ask you to stay in the store while the Bitcoin confirmation is not yet visible in the blockchain. Other good and fast alternative is: LTC , DOGE, DASH .



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December 01, 2017, 02:47:53 PM
 #15

wow is it true? are all mcdonalds in the world accept bitcoin as the payment? or just in any country? if it receive the payment in all country in the world it will makes my bitcoin can working offline in my countr


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December 01, 2017, 02:52:41 PM
 #16

Does that even make sense with the current transaction times and fees? You are going to pay more for the fees than for your meal. Unless the fees go down drastically, it makes no sense to use bitcoin as a daily payment method.

sadly this is true. the current fee for a normal transaction is around $4 at the moment and it doesn't seem to be going down and that is because bitcoin adoption grow a lot in the past few weeks and at the same time we don't have any working scaling solution. we have SegWit but non that many seems to be using it which means it is ineffective for scaling so far. and since we don't have the block size increase (hard fork of S2X) we have to keep waiting for something to change....

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December 01, 2017, 02:54:02 PM
 #17


All the news i have read from crypto daily seem fake to me. I wouldnt trust that website

what do mean of this you have trust to crypto daily news but you can't trust the new came from this site, i can't get your point, by way its good news another achievement for bitcoin mcdonald accept bitcoin as payment, i know this food chain before engage to become bitcoin accepting payment the officer and board of director of this company learn what is the benefit if bitcoin accepted as payment.
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December 01, 2017, 02:54:54 PM
 #18

In the first glance, the news sounds good. But Bitcoin is not suited to fast food chains as payment gateway. Bitcoin is so huge and slow. Mc Donalds might ask you to stay in the store while the Bitcoin confirmation is not yet visible in the blockchain. Other good and fast alternative is: LTC , DOGE, DASH .


was thinking the same, "please give me 2 happy meals, 2 big mac and a coke"
"That's 12$, how do you like to pay?"
"Bitcoin please"
"right, move to the side while we wait for the blockchain to process your payment, it will take between 2 minutes to 3 hours, please be patient"

That's not practical especially in McDonalds shop, waiters must be fast for each order because there's usually, at the peak time, a long queue.. it will just not work
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December 01, 2017, 02:55:43 PM
 #19

Oh dear - more Bitcoin being sucked out of the market to be held by the globalists. They must be really worried by Bitcoin. I guess this is the easiest way to reduce the competition for the banks "crypto" currencies. If McD does start to accept Bitcoin, then you can bet that they won't be selling them back into the marketplace.

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December 01, 2017, 02:55:52 PM
 #20

I really think this is gonna happen in the future because many merchant right now are really getting interested in holding bitcoin right now, and I have realized recently that there are now many in my country that are now accepting bitcoin, And I really think that even if bitcoin doesn't have a huge amount yet back then many had seen the potential of bitcoin to be use in a direct transaction.
If this is really happening then it is a great thing of course. This is a very high advance because in the end bitcoin can be used for everyday transactions. We must appreciate and continue to support places that can accept bitcoin.
If that fast food chain accept bitcoin, how about their competitors like Jollibee, KFC, Greenwich, Chowking and other food chain? Are they also accept bitcoin in exchange of foods and services? Or they still relied to the Fiat? Because competition in the world market still ongoing so I don't that only McDonald's is used bitcoin.

In addition, if the fast food chain accept bitcoin I'm sure that more people will request to less their price the food and services. Since bitcoin is not covered by the government, I'm sure that no Value Added Tax (VAT) will reflect to the receipt of each fast food chain. Because all their income using bitcoin had no tax.
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