[2018-01-12] KFC Canada starts accepting Bitcoin as payment

[chiggz]

Don't know how long this is going to last but I feel this is good step taken towards adoption of Bitcoin for Payment. A great start towards 2018. Hope this continues to other countries as well.

More: https://www.coindesk.com/kfc-canada-is-accepting-bitcoin-for-fried-chicken/

[CryptoBry]

Don't know how long this is going to last but I feel this is good step taken towards adoption of Bitcoin for Payment. A great start towards 2018. Hope this continues to other countries as well.

More: https://www.coindesk.com/kfc-canada-is-accepting-bitcoin-for-fried-chicken/

I am hoping that this can create some like an avalanche of support for Bitcoin in the fastfood industry. Once KFC competitors can see the press coverage that KFC is getting for this move there is a big possibility others can follow the same. We know how powerful even the use of the word Bitcoin or its symbol can be. In fact, we need more of something like this not just because of the publicity generated but making Bitcoin get more into the mainstream of the population. There is a big question on Bitcoin whether it can also be a currency while being a store of value at the same time -- and so we hope that slowly people will realize that Bitcoin can also be both. 

[igordemin]

I am hoping that this can create some like an avalanche of support for Bitcoin in the fastfood industry.

It's not just about fast food market. It's a mass market in general. And this is a grat thing to happened.

[chiggz]

I am hoping that this can create some like an avalanche of support for Bitcoin in the fastfood industry. Once KFC competitors can see the press coverage that KFC is getting for this move there is a big possibility others can follow the same. We know how powerful even the use of the word Bitcoin or its symbol can be. In fact, we need more of something like this not just because of the publicity generated but making Bitcoin get more into the mainstream of the population. There is a big question on Bitcoin whether it can also be a currency while being a store of value at the same time -- and so we hope that slowly people will realize that Bitcoin can also be both.  

On point! Its clear KFC is keeping this as a limited time offer. Might be they are trail testing how it goes about. Whether the currency thingy is going to be adopted is a big question. Though this is a good marketing and patronizing awareness for Bitcoin from KFC's end, I also feel people will be reluctant to use on on spending once they see the amount and fee and confirmation time. Its like ordering bucket for $5 and seeing the bill as $10!!
One the humor side, does anyone know when KFC/BTC be traded?

[ImHash]

Who would buy fried chicken with bitcoin? People are not crazy to buy fried chicken with bitcoin and pay more money to have their transaction confirmed
Fried chicken:$10
Drink:$2
Total:$12
Paying with bitcoin would cost you $17 if you'd want to wait for 2/12 hours, If you want it to be fast, It could cost you $27

[igordemin]

One the humor side, does anyone know when KFC/BTC be traded?

If they offer a free bucket for a year to everyone taking part in their ICO - it could become the largest and the most successfull in history

[BitHodler]

Who would buy fried chicken with bitcoin? People are not crazy to buy fried chicken with bitcoin and pay more money to have their transaction confirmed
Fried chicken:$10
Drink:$2
Total:$12
Paying with bitcoin would cost you $17 if you'd want to wait for 2/12 hours, If you want it to be fast, It could cost you $27

It depends. At this point it's indeed not really a smart move to accept vanilla Bitcoin payments for such small purchases, but through SegWit people pay less in fees, but for that they do need to utilize SegWit of course.

However, a good potential difference can be that online wallet services such as Coinbase cooperate with BitPay to have their accounts linked for instant payments. I seriously don't know why it isn't done yet.

Coinbase is by far the largest wallet and exchange service, so it actually makes sense to do this for them, which will offer people so much convenience and pleasure when it comes to spending their coins.

It's a great alternative till lightning network becomes active.

[Carlton Banks]

Who would buy fried chicken with bitcoin? People are not crazy to buy fried chicken with bitcoin and pay more money to have their transaction confirmed
Fried chicken:$10
Drink:$2
Total:$12
Paying with bitcoin would cost you $17 if you'd want to wait for 2/12 hours, If you want it to be fast, It could cost you $27

KFC must be pretty stupid.

Bitpay just stopped accepting regular Bitcoin addresses on their webpages, no-one will be able to use this period if they're doing the same at their POS terminals. Also, Bitpay will probably still be using mainnet 10 years after everyone already switched to Lightning (these fee problems wouldn't exist if Lightning were used). So the timing is pretty terrible, as Bitpay are highly unprofessional, and Lightning isn't quite ready yet. 

I bet KFC cancel this in 6 months, saying "NO 1 IS USING BTC WITH US ", 2 days before Lightning goes live (and KFC misses out on the more profits than they could ever hope for )

[cynical]

this is a similar thread i posted i earlier - https://bitcointalk.org/index.php?topic=2733282.msg27970198#msg27970198

as above the transaction fees alone would kill the value of buying anything of low value with Bitcoin,
unless you got that bitcoin for nothing of course.
what we need of course is mass adoption of bitcoin in terms of being able to pay for everything we want,
but with the volatility we have now the bitcoin used to pay for the KFC meal today could be worth 10, 50 or 100 times more in the near future.
(notice is said COULD BE!)
so after the roll out of lightning are people going to spend their coins?

[Taki]

This news appeared twice on the Press board today! Such agiotage!
They a little bit delayed with this innovation. Bitcoin transactions are so slow and expansive that I even cannot imagine how it's going to work. Firms who created such bitcoin payments years ago are surly won, but now it seems me a little bit not modern. I would rather accept some other coin if I would have such business, to make transactions fast. But the one thing is obvious here - bitcoin come deeply in our daily life and I believe soon crypto currencies will be the same usual things as debit cards.

[Qartersa]

Nah, they are kinda too late in a day to enter the world of cryptos. But just so you know, if this has anything to do with the write up that 2018 will be the year of cryptos, then maybe I can say KFC's management made the right choice. Even so, I, too, believe that this management decision will be more beneficial for KFC because it has been earlier predicted that Bitcoin's value will soar even higher this time around. With such, they will earn not just coming from their daily sales and franchises but because of the increasing value of Bitcoin. 

[error08]

Who would buy fried chicken with bitcoin? People are not crazy to buy fried chicken with bitcoin and pay more money to have their transaction confirmed
Fried chicken:$10
Drink:$2
Total:$12
Paying with bitcoin would cost you $17 if you'd want to wait for 2/12 hours, If you want it to be fast, It could cost you $27

KFC must be pretty stupid.

Bitpay just stopped accepting regular Bitcoin addresses on their webpages, no-one will be able to use this period if they're doing the same at their POS terminals. Also, Bitpay will probably still be using mainnet 10 years after everyone already switched to Lightning (these fee problems wouldn't exist if Lightning were used). So the timing is pretty terrible, as Bitpay are highly unprofessional, and Lightning isn't quite ready yet.  

I bet KFC cancel this in 6 months, saying "NO 1 IS USING BTC WITH US ", 2 days before Lightning goes live (and KFC misses out on the more profits than they could ever hope for )

LoL
you guys have to read before post such statement.
That said, you can't exactly walk into a KFC location in Canada and pay with crypto at the cash register.
Instead, the company is accepting Bitcoin via BitPay as one of the options through an online check-out page.

You are not walking to KFC Canada and said; hey I want to buy a fried chicken and pay it using bitcoin.
I'm sorry, that's not how it works.
You should deposit bitcoin to Bitpay.
Once received, BitPay converts the bitcoin to your preferred currency and adds the full amount of the payment to your next BitPay account settlement. Funds are then deposited to your bank account or bitcoin address.
No need to wait for hours or days after you have deposited bitcoin to Bitpay obviously, the transaction is instant.
However, BitPay has it own fees to be charged for customers.

[jhenfelipe]

Who would buy fried chicken with bitcoin? People are not crazy to buy fried chicken with bitcoin and pay more money to have their transaction confirmed
Fried chicken:$10
Drink:$2
Total:$12
Paying with bitcoin would cost you $17 if you'd want to wait for 2/12 hours, If you want it to be fast, It could cost you $27

KFC must be pretty stupid.

Bitpay just stopped accepting regular Bitcoin addresses on their webpages, no-one will be able to use this period if they're doing the same at their POS terminals. Also, Bitpay will probably still be using mainnet 10 years after everyone already switched to Lightning (these fee problems wouldn't exist if Lightning were used). So the timing is pretty terrible, as Bitpay are highly unprofessional, and Lightning isn't quite ready yet.  

I bet KFC cancel this in 6 months, saying "NO 1 IS USING BTC WITH US ", 2 days before Lightning goes live (and KFC misses out on the more profits than they could ever hope for )

LoL
you guys have to read before post such statement.
That said, you can't exactly walk into a KFC location in Canada and pay with crypto at the cash register.
Instead, the company is accepting Bitcoin via BitPay as one of the options through an online check-out page.

You are not walking to KFC Canada and said; hey I want to buy a fried chicken and pay it using bitcoin.
I'm sorry, that's not how it works.
You should deposit bitcoin to Bitpay.
Once received, BitPay converts the bitcoin to your preferred currency and adds the full amount of the payment to your next BitPay account settlement. Funds are then deposited to your bank account or bitcoin address.
No need to wait for hours or days after you have deposited bitcoin to Bitpay obviously, the transaction is instant.
However, BitPay has it own fees to be charged for customers.

Yes this is for online checkout. As @kfc_canada posted on their twitter page, it seems that many orders have already been made with BTC (quoted below). Good start IMO, they are actively promoting the BitcoinBucket so let's see how it'll go in the next few days.

#BitcoinBucket is currently sold out. There will be a restock tonight. We’re mining for more as fast as we can.

[Carlton Banks]

you guys have to read before post such statement.

Yeah I didn't read the article

Which is the sensible thing to do right now, until we know the full details of what the Intel CPU bugs can do to let someone steal your BTC.

Until then, I won't be going anywhere near websites that require Javascript, or that are run by possible incompetents (Coindesk.com is both, I believe)

[J. Cooper]

It's really weird that they're doing this right now. Especially since we've seen companies shut down bitcoin payments to their platform simply because of high transaction fees and probably decreasing purchasing volume. I also heard there were problems with bitpay so that makes me even more doubtful.

[richardsNY]

Yeah I didn't read the article

Which is the sensible thing to do right now, until we know the full details of what the Intel CPU bugs can do to let someone steal your BTC.

Until then, I won't be going anywhere near websites that require Javascript, or that are run by possible incompetents (Coindesk.com is both, I believe)

That's because you have found out about this Intel bug thingy just recently. Who knows how many people have been affected by this in the last years, where they all the time thought it was software related, or them having been infected with malware, etc. Also, who knows how long this "bug" has been exploited by governments sniffing through your information and stuff.... After this, something else will pop up containing a possible exploitable bug that grants hackers and governments access to your private information, coins, etc. We're living in a time where our coins are exposed to more risk than ever before.

[Xavofat]

Bitpay will probably still be using mainnet 10 years after everyone already switched to Lightning (these fee problems wouldn't exist if Lightning were used).

From KFC's perspective, that doesn't matter since no one is currently using LN.  It's just unrelated speculation about BitPay.

I bet KFC cancel this in 6 months, saying "NO 1 IS USING BTC WITH US

Literally the first line of the article:

Fried chicken chain KFC Canada is accepting bitcoin – for a limited time

This is a promotion.  KFC aren't serious about accepting Bitcoin, they're just doing it because they think there's enough hype about it to generate some interest in their overpriced product.

[Carlton Banks]

Also, who knows how long this "bug" has been exploited by governments sniffing through your information and stuff

Well, we don't really know anything about who was aware of this bug, or for how long.

It's kinda irrelevant IMO: the Intel "Management Engine" (which can remotely operate your computer at a higher administrative level than the user can even access) has been a part of the Intel hardware spec since 2009. Only Intel (allegedly) have the cryptographic keys that permit executing software on the ME. So Intel (and buddies) could spy on your entire computer usage and have the computer lie to you at any time about what it's really doing, too.

Given all this, I don't think Intel needed to deliberately introduce the recent branch-prediction kernel memory bugs, they've had what they need to surveill user's computers for pretty much the same length of time that the bugs existed for.

[Aikidoka]

Who would buy fried chicken with bitcoin? People are not crazy to buy fried chicken with bitcoin and pay more money to have their transaction confirmed
Fried chicken:$10
Drink:$2
Total:$12
Paying with bitcoin would cost you $17 if you'd want to wait for 2/12 hours, If you want it to be fast, It could cost you $27

Exactly, if that is how it goes. However, these fast food markets would get lots of money if customers bought with bitcoin. And I consider it to be a good idea because it would help raise awareness to people about the existence of bitcoin, thus the use would increase, thus the price would go up.

Now, I can manage to understand why the KFC used bitcoin as a form of payment. Maybe he is a bitcoin holder and wants to save bitcoin or maybe he wants to advertise it. Who knows.

[wilhb81]

It's good that KFC starting to accept Bitcoin as payment. However, I doubt there are many people use Bitcoin to make the payment, as its transaction fee is astronomically hefty in nowadays...

Maybe, KFC might consider to accept other alt coins, such as Litecoin as payment in near future?!