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Author Topic: The Calm Before The Storm  (Read 317 times)
weidex
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September 03, 2019, 02:43:40 PM
 #1

Burger King give you the chance to pay your food with BTC within their app. What do you think? It's getting more viral with every day. Is mass adoption on its way?
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September 03, 2019, 02:54:17 PM
 #2

Note: Don't get too excited just yet. This is only for Germany(currently, at least). https://cointelegraph.com/news/burger-king-lets-you-pay-your-way-in-germany-with-bitcoin

Anyway, while there are a few big companies in the past like Steam that removed their bitcoin payments option, if you're actually watching bitcoin related news for a while, it's easy to notice that adoption is in a steady uptrend(with a few dips here and there and a few drops due to price volatility).

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September 03, 2019, 03:06:35 PM
 #3

Burger King give you the chance to pay your food with BTC within their app. What do you think? It's getting more viral with every day. Is mass adoption on its way?

Btc have come a long way,  10yrs of trying to gain recognition is not easy, it's about time we start to see more this from different merchants, local stores, market place etc, yeah, I would say the the time of adoption is fast approaching and we can see it from all the similar news as this one, Good.

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September 03, 2019, 03:08:38 PM
 #4

Note: Don't get too excited just yet. This is only for Germany(currently, at least). https://cointelegraph.com/news/burger-king-lets-you-pay-your-way-in-germany-with-bitcoin

Anyway, while there are a few big companies in the past like Steam that removed their bitcoin payments option, if you're actually watching bitcoin related news for a while, it's easy to notice that adoption is in a steady uptrend(with a few dips here and there and a few drops due to price volatility).
Why shouldn't we get excited over this...Lol. We all should. It's a great development towards mass adoption. At least after China banned Bitcoin in error and we survived it. Anything pointing towards straightening Bitcoin is a welcome development. Believe me, the Chinese govt will regret its 2017 action when finally adoption is achieved.

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September 03, 2019, 03:19:46 PM
 #5

Storm doesn't sound like a good thing to me. Katrina killed many lives.  Cheesy

Note: Don't get too excited just yet. This is only for Germany(currently, at least). https://cointelegraph.com/news/burger-king-lets-you-pay-your-way-in-germany-with-bitcoin

Anyway, while there are a few big companies in the past like Steam that removed their bitcoin payments option, if you're actually watching bitcoin related news for a while, it's easy to notice that adoption is in a steady uptrend(with a few dips here and there and a few drops due to price volatility).

The article says Burger king already started accepting BTC since 2017. The branch must have suffer loss due to this but right now if they didn't sell yet they could be holding the futures. It be interesting to know how much BTC they collected so far up to this day.

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September 03, 2019, 03:25:27 PM
 #6

The article says Burger king already started accepting BTC since 2017. The branch must have suffer loss due to this but right now if they didn't sell yet they could be holding the futures. It be interesting to know how much BTC they collected so far up to this day.
I can almost guarantee that they immediately convert to fiat upon receipt of bitcoin. We are a long way off from transactions staying completely in crypto through the entire lifetime.
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September 03, 2019, 03:30:49 PM
 #7

The article says Burger king already started accepting BTC since 2017. The branch must have suffer loss due to this but right now if they didn't sell yet they could be holding the futures. It be interesting to know how much BTC they collected so far up to this day.
I can almost guarantee that they immediately convert to fiat upon receipt of bitcoin. We are a long way off from transactions staying completely in crypto through the entire lifetime.

Yeah, because you never know what direction the market will decide to go, keeping transactions in btc for along time is risky for businesses because of it's high volatility nature,  can't exactly blame them for that, market fluctuations has not exactly given people any choice.

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September 03, 2019, 04:25:55 PM
 #8

Burger King’s payment is available in Germany through Bitpay, either in BTC or BCH.


I figure Burger King themselves will choose receive their payment settlements in fiat, and not in crypto.


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September 03, 2019, 04:43:47 PM
 #9

Burger King’s payment is available in Germany through Bitpay, either in BTC or BCH.

~ snip ~

I figure Burger King themselves will choose receive their payment settlements in fiat, and not in crypto.



Right, so this is not P2P as everyone as expected, a middleman is still needed in this case, Bitpay - the largest bitcoin payment processor. But we have to understand that this is Germany wherein Bitcoin adopted is really huge so no surprise here. But regarding mass adoption? We still have a long way to go, perhaps LN could help us achieved that so we will have to wait a big and see how it goes.

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September 03, 2019, 05:14:35 PM
 #10

Burger King’s payment is available in Germany through Bitpay, either in BTC or BCH.

~ snip ~

I figure Burger King themselves will choose receive their payment settlements in fiat, and not in crypto.



Right, so this is not P2P as everyone as expected, a middleman is still needed in this case, Bitpay - the largest bitcoin payment processor. But we have to understand that this is Germany wherein Bitcoin adopted is really huge so no surprise here. But regarding mass adoption? We still have a long way to go, perhaps LN could help us achieved that so we will have to wait a big and see how it goes.
LN integration will really be the best when it comes to payment processing and transfers but we know that its still on development so talking about it is still irrelevant.
At first read up i though Burger King in Germany accepts p2p but as stated they do make use of Bitpay which im aint surprised since they do try to make themselves safe from volatility but at least we do able to see that theres already a recognition.

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Ayiranorea
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September 03, 2019, 05:59:43 PM
 #11

I remember the same phrase being used much during the time of previous halving. To the same the market gave a good growth to the entire users after halving. Further the same got much used last year, and to the same the market didn't reacted instantly. It took months and the growth began from April this year. Now this time how the growth is gonna happen is unpredictable, let's wait and experience the reality.

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September 03, 2019, 06:10:45 PM
 #12

Not until I see the companies accept Bitcoin directly and not to another third party payment processor I don't see mass adoption happening simply because of an added step involved. Our Bitcoin wallet is created to directly pay to the other end and it's not created for us to send our money to another third party for them to handle the payment for us. This makes the process much more complicated for others and they might find it unappealing to use when they already have a much more convenient way to pay for this products.

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September 03, 2019, 06:18:00 PM
 #13

Burger King in Germany gets the fiat equivalent of the BTC you pay through Bitpay. It would have been an accounting nightmare to include bitcoins in the journal as another form of currency since, you already know, the value fluctuates wildly.


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mazdafunsun
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September 03, 2019, 06:44:57 PM
 #14

This is cool, it is excellent news when application adds an option to do so, because it is much more convenient to pay on device than physcially.
This means bigger impact and overall positive effect to crypto currencies.

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September 03, 2019, 06:52:48 PM
 #15

Agreed, it's on this way. But I haven't used crypto as a payment yet..
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September 03, 2019, 06:56:41 PM
 #16

I think it's cool and I will use it!
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September 03, 2019, 07:25:16 PM
 #17

Burger King give you the chance to pay your food with BTC within their app. What do you think? It's getting more viral with every day. Is mass adoption on its way?

Yes maybe this will be the time to calm down but I believe there's a big break in the future to become a storm. A storm that will give hope to all bitcoiners that we all benefits to the promising price of bitcoin in the future. Its really hard to wait but theres a bih hope in trading. 

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September 03, 2019, 08:38:22 PM
Last edit: September 05, 2019, 12:04:08 AM by Reatim
 #18

Anyway it’s not only Burger King accepts bitcoin.

But yeah I believe that the food chain will not hold any of their bitcoin payments under their cash register instead they will surely convert it once receive because business earns from day to day basis and not for investing,and maybe they were just ride the hype of 2017 to decide accepting crypto

And as what DdmrDdmr stated it’s BitPay stands as middleman for Burgerking to receive fiats whenever the costumer pays crypto.

Agreed, it's on this way. But I haven't used crypto as a payment yet..
Unless you are from Germany?so you can pay Burger King using cryptocurrency




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September 03, 2019, 08:57:05 PM
Merited by DdmrDdmr (1)
 #19

Burger King in Germany gets the fiat equivalent of the BTC you pay through Bitpay. It would have been an accounting nightmare to include bitcoins in the journal as another form of currency since, you already know, the value fluctuates wildly.
Also, if you have ledger or trezor, where you store your spending coins for everyday use, Bitpay is a pain in the neck to pay with...
Last time I have tried to pay a Bitpay invoice, I just went mad, nearly...
First, I've tried to pay with my ledger nano S, but it haven't recognized the payment URL, so failed.
I've started to read and found that there's no need to try with ledger directly in the browser, and also you can't use segwit address to pay from.
So to cut the long story short, I had to move some sats to the trezor, open a mycelium app on an ancient android phone (that was the only one nearby) and open the trezor via the mycelium app, and finally scan the Bitpay invoice QR code in the app to be able to pay...
it's much easier if you have a hot wallet on your mobile, but it's not safe to store much value in it...
So if something is safe, it's not easy to use, and if something is easy to use, it's possibly not the safest thing to use...
I just long for LN to handle these kind of small purchases in the foreseeable future...

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September 03, 2019, 09:17:07 PM
 #20

I confess I did not understand what you meant by this: " The Calm Before The Storm  "

what storm are you talking about? In recent months the price has increased a lot and has good news for the coming months. so I don't see what storm you are talking about, and about this:

Burger King give you the chance to pay your food with BTC within their app. What do you think? It's getting more viral with every day. Is mass adoption on its way?

Mass adoption comes with input of things like these:

Bakkt Clients Can Start Warehouse Deposits on Sept. 6

VanEck, SolidX to Offer Limited Bitcoin ETF for Institutions Via Exemption

Winklevoss’ Gemini Introduces Sub-Accounts Feature for Institutions


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