Does McDonald coin have the power to cause dip in bitcoin market

[suzanne5223]

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 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?

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[davis196]

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 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.

[batang_bitcoin]

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

[NeuroticFish]

A rumor can`t make the btc price to drop by 10%

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.

[talkbitcoin]

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).

[haroldtee]

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 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?

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.

[mr.nby]

A rumor can`t make the btc price to drop by 10%

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.

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.

[Pursuer]

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

edit: in case anyone was interested this is how the token looks like:


#CelebrateObesity

[audaciousbeing]

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 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?

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.

[BitcoinNewbie15]

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.

[bobo012]

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 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?

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

[coinplus]

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 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?

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.

[cellard]

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.

[The Sceptical Chymist]

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.

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.

[suzanne5223]

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.

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.

[Clark05]

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

[gentlemand]

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.

[pitiflin]

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. 

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.

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.

[STT]

McDonald have more capital than cryptocurrency this year.

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  

[cellard]

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.