[2021-08-10] AMC will accept bitcoin as payment for movie tickets by year end

[Renampun]

great breakthrough, AMC is the first to do this [accepts bitcoin payments for movie tickets], when it's official hopefully they receive LN too...

movie theater is heavly hit by this pandemic  i hope the pandemic is over. and good news like this need to be appreciated

one thing I miss the most during this pandemic is being able to go back to watching the cinema and my country's government still doesn't allow that.

[1714763279]

1714763279

[1714763279]

1714763279

[1714763279]

1714763279

[bbc.reporter]

@Renampun. Agreed. However, if your government declared that all movie theaters will be opened, would you be quite certain to feel safe in the theater?

There are some news updates telling everyone that the vaccines are not working at the expected rate.



Anecdotes tell us what the data can’t: Vaccinated people appear to be getting the coronavirus at a surprisingly high rate. But exactly how often isn’t clear, nor is it certain how likely they are to spread the virus to others.

Though it is evident vaccination still provides powerful protection against the virus, there’s growing concern that vaccinated people may be more vulnerable to serious illness than previously thought.


Source https://www.bloomberg.com/news/articles/2021-08-21/science-can-t-keep-up-with-virus-creating-worry-for-vaccinated

In any case, I reckon AMC should motivate bitcoiners to spend by giving them discounts and giving them first access to tickets than fiat spenders. Users can buy the tickets months ahead while price is high hehehe.

[DaveF]

AMC is got to be willing to take a bunch of cryptos not just BTC

https://www.reuters.com/business/amc-ceo-says-theaters-will-accept-other-cryptocurrencies-along-with-bitcoin-2021-09-16/
https://gizmodo.com/amc-pay-in-whatever-cryptocurrency-you-want-just-plea-1847687977

So, either they are setting up a real front end payment gateway that can handle multiple cryptos or they are using bitpay / Coinbase commerce to do the processing.
If they do take all cryptos I will go there before other theater chains.

-Dave

[SFR10]

So, either they are setting up a real front end payment gateway that can handle multiple cryptos or they are using bitpay / Coinbase commerce to do the processing.

Based on how long ^[roughly] it'll take for them to implement it, it has to be the former one.
^{- Makes more sense to go with a route that would give them more/full control.}

If they do take all cryptos I will go there before other theater chains.

I don't think they'd integrate other remaining cryptocurrencies anytime soon, but regardless of that, does the above line mean that you personally prefer to pay for stuff with other cryptocurrencies, instead of BTCitcoin?

[DaveF]

I don't think they'd integrate other remaining cryptocurrencies anytime soon, but regardless of that, does the above line mean that you personally prefer to pay for stuff with other cryptocurrencies, instead of BTCitcoin?

No, I prefer bitcoin but I do have a ton of Dash (mined) / ETC ( from the fork) / BCH & BSV (also from the forks) and many others that are really just sitting in wallets.
I keep wanting to exchange them but it's always "I'll do it soon when, I have time to play with exchanges"

Some has been spent through bitrefill, but the more places that I can spend them the sooner I can clean up old wallets.

It's just me with the time and effort to be honest.

Need an small Amazon GC, go to bitrefill send them Dash, done. But, I don't have enough of any of them to get a $500 gift card for hotels.com for a small vacation so it sits, but a $12.00 movie ticket and a $37.50 small popcorn and $9.00 box of snowcaps, that I do have.

Yes I can exchange the them, but then it's go to an exchange that takes people from NY, go trade it, then withdraw and eat the fees. I would rather just overpay for my popcorn.

-Dave

[Woodie]

In the long run I see this to be a success story as we shall be minimizing the number of contact points we the people usually had when dealing with fiat, now this being a good contactless solution...am hoping that if this turns out to be a success more companies not only in the entertainment business need to come in to support the cause which will also help fight the current pandemic the world is facing.

[Mugtaiya]

~
So, this has been tried before by other Movie theaters and it died a slow death... will AMC Entertainment be able to find a way to make a success of this? I hope they offer some kind of incentive for people to pay with Bitcoin and not with Fiat currencies. (Discounts when you pay with Bitcoin?)

I think those were very small chains, or some single theaters even, because it's impossible to google about them right now, even with adding a minus sign to amc.

AMC, being the largest theater chain in the world with more 11k screens(globally) is in an advantageous position: they can afford holding BTC for many months if the rate isn't in their favor at the moment.

only from them being bought out by Chinese investors.
push more money into communistic country pockets.

[bbc.reporter]

As I predicted hehehe. AMC is beginning to accept altcoins for payments and it has chosen the jokiest of jokes altcoin to adopt.



US-based movie theatre chain AMC Theatres have officially allowed payments in popular meme-based cryptocurrency, Dogecoin. The transaction will be facilitated by Georgia, US-based Bitcoin payment service provider called BitPay. People will be able to buy AMC gift cards with a maximum limit of $200 (roughly Rs. 14,970). Since these gift cards will be valid for usage at other stores as well, this development will indirectly propel Dogecoin into several businesses. The cryptocurrency is affordable, allowing more people to buy and use the gift cards.

Source https://gadgets.ndtv.com/cryptocurrency/news/amc-theatres-dogecoin-payments-movie-tickets-bitcoin-2566156



My next prediction will be an announcement from AMC of removing their acceptance of cryptocoins because of low sales through these mediums of payment and because of regulatory uncertainty. Similar to this story.



United Wholesale Mortgage, which made its public debut in January via a special purpose acquisition (SPAC) merger, began piloting crypto payments in August in an industry first.

CEO Mat Ishbia tells CNBC that after testing it out, the company decided it wasn’t worth it. “Due to the current combination of incremental costs and regulatory uncertainty in the crypto space we’ve concluded we aren’t going to extend beyond a pilot at this time,” said Ishbia.

Source https://www.cnbc.com/2021/10/14/united-wholesale-mortgage-ditches-its-plan-to-accept-bitcoin-ethereum.html

[SFR10]

As I predicted hehehe. AMC is beginning to accept altcoins for payments and it has chosen the jokiest of jokes altcoin to adopt.

Perhaps he had no other choice but to accept it, so those so-called supporters would finally stop annoying him on Twitter:

• The post has left Dogecoin supporters excited, after they kept tweeting to Aron asking him to start accepting Dogecoin payments.
  

The transaction will be facilitated by Georgia, US-based Bitcoin payment service provider called BitPay.

I was "wrong" in thinking that they'd come up with their own payment gateway ^{[a bit disappointed]}!

People will be able to buy AMC gift cards with a maximum limit of $200 (roughly Rs. 14,970).

In other words, they're not offering something new:

• Bitrefill
• Coinsbee ^{[out of stock]}

My next prediction will be an announcement from AMC of removing their acceptance of cryptocoins because of low sales through these mediums of payment

Even with low sales, I don't think they'd remove something that requires little to no maintenance from their side ^{[I could be wrong]}.

[bbc.reporter]

@SFR10. You might be correct. They can use their acceptance for cryptocoin payments as part of their marketing and promotion and say that AMC is a company that embraces the blockchain hehehe. However, would larping be the only positive way cryptocoins would be useful for them?

[bbc.reporter]

It appears that AMC has shown their real roadmap on why they have begun adopting and accepting cryptocoins. Similar to much of the creation of the altcoins, AMC also wants to create its own scamcoin to dump on the community. I reckon they are late 5 years hehehehe.



AMC’s stock price has soared this year on the back of the meme stock phenomenon, along with an increased focus on what its vocal social media fans demand—including accepting cryptocurrency payments. Now the movie theater chain may even be looking to roll out its own coin.

Source https://decrypt.co/84042/amc-accepts-dogecoin-could-soon-launch-crypto



Also, everyone should also read that AMC is not in a good situation financially. I have also read that they cannot issue common stock anymore. This is why they create their scamcoin hehehe.

[Woodie]

At this point for the crypto economy to grow ,support will have to come from not only the crypto aligned companies  but also these well known and established non crypto companies which can act as ambassadors to help sell the crypto products to the people. This is a timely and commendable move by AMC entertainment, I guess this move should also see its share price raise once these crypto payments are available to the people.

[DaveF]

Also, everyone should also read that AMC is not in a good situation financially. I have also read that they cannot issue common stock anymore. This is why they create their scamcoin hehehe.

Stock seems to be doing fine, investors seem to like it.
https://www.investors.com/research/amc-entertainment-stock-buy-now/?src=A00220
https://finance.yahoo.com/m/87976faf-b955-3970-bb21-7a25a480bea0/are-you-sure-you-want-to.html
And although they do have a lot of debt they have plenty of cash on hand: https://finance.yahoo.com/quote/AMC/key-statistics?p=AMC

Not thrilled about the fact that they are using BitPay to process crypto, but at the moment I don't know of any other provider that has integration with existing POS terminals so their choices may have just been limited.

-Dave

[SFR10]

However, would larping be the only positive way cryptocoins would be useful for them?

It has to be ^{[assuming that I understood what you exactly meant by "larping" (I had to google for its synonyms)]}... I can't see any other way for cryptocurrencies to be useful for them.

AMC also wants to create its own scamcoin to dump on the community.
~Snipped~
Now the movie theater chain may even be looking to roll out its own coin.

I wouldn't necessarily label their future cryptocurrency or token as a scam coin ^{[it might have some benefits for their customers]} but having said that, I also wouldn't be surprised if they'd have an ulterior motive behind its creation!

[bbc.reporter]

Also, everyone should also read that AMC is not in a good situation financially. I have also read that they cannot issue common stock anymore. This is why they create their scamcoin hehehe.

Stock seems to be doing fine, investors seem to like it.
https://www.investors.com/research/amc-entertainment-stock-buy-now/?src=A00220
https://finance.yahoo.com/m/87976faf-b955-3970-bb21-7a25a480bea0/are-you-sure-you-want-to.html
And although they do have a lot of debt they have plenty of cash on hand: https://finance.yahoo.com/quote/AMC/key-statistics?p=AMC

Not thrilled about the fact that they are using BitPay to process crypto, but at the moment I don't know of any other provider that has integration with existing POS terminals so their choices may have just been limited.

-Dave

Everyone likes AMC similar to Gamestop because similar to Gamestop, it is one of the most traded meme stocks. Also, the best measure for a company is the quarterly revenues, if this is going higher or lower yearly and quarterly.

@SFR10. I reckon you have been investing in the cryptospace for very a long time to know what is their real motive hehehe.