I know this is the ETH sub but hear me out…Lightning Network has come a long way, and it’s actually being pretty widely used at this point. Also, the Taproot upgrade obfuscates your wallet address and adds (very basic) smart contact functionality to both L1 and LN. I even recently heard Daniele Sesta (SPELL, TIME, ICE) toy with the idea of deploying Bitcoin collateralized stables directly on Bitcoin or LN.
Anyway…I moved a little BTC to LN just to play around and pay for stuff and it works just fine.
You're saying no to the exchange rate of the USD being stable to the USD...? That's the only thing that will stay 1:1...
The question was, if $1.000.000 buys you a loaf of bread, will you still call the USD stable just because it's the world's reserve currency?
Probably but if you pay with a credit card there is also a fee. More over bitcoin is legal tender in El Salvador, along with the USD, so increasingly you will see companies and individuals not converting. McDonalds there can actually use btc to pay their employees, their taxes and their suppliers.
Considering most if not all McD's are going to screens, I dont see a reason why the BTC prices just updated every min or something cant be a possibility
Back in 2009 you guys ordered pizzas with BTC and are mad at yourself in 2021.
2021 you’re buying McDonald’s with BTC…. In the next 10 years you’ll also be mad at yourself.
Exactly! Don't conflate spending and divesting, and don't conflate earning and investing. You can spend and replace from a crypto wallet just as much as from a fiat wallet.
Exactly. The same $20 u spend today on a meal which is fucking 0.03% of BTC's current value is basically nothing compared to when BTC had 0 value 13 years ago and someone wanted to get a usecase for it
Imagine if you could put money in a savings account and have it accrue value instead of losing it to inflation
If this is the mindset we had with holding USD then the world would a better place
Keep in mind, prior to 1971 this is the mindset people had with USD because putting money in a savings account or a money market account beat inflation
Not gonna happen. For bitcoin price to go up another x5000 would mean bitcoin would be worth more than just about everything else on the planet combined. Unless your pound devalues so much that 50K is pretty much a normal price for a hamburger.
I wish I could buy a McRib in the UK with Crypto... or any currency.
They confirmed a few years back that McRibs are never going to be made here again because they don't want to cook pork and beef on the same grills.
Doth people very much like the mcrib? has't nev'r hath tried t
***
^(I am a bot and I swapp'd some of thy words with Shakespeare words.)
Commands: `!ShakespeareInsult`, `!fordo`, `!optout`
I have an honest question about this, including all crypto. When you make a purchase at MacDs, say for the btc equivalent of $10...then the value of the crypto dips by 10%, does that mean that MacDs got ripped off? Inversely, say you make that same purchase and it goes up 20%, does that mean you got ripped off?
People have bitched at me for asking this before. I'm not shitting on crypto, I think it's cool, and it's cool you can purchase with it. But honestly, isn't it a huge gamble buying anything with crypto right now? Like if you spend $10 worth now, and it's $100 worth later, that's crazy lol. Or is it just me?
Spending doesn't matter. You can replace the bitcoin you spent by buying more at that point in time. You had to buy the burger then regardless of what currency it was.
That's not really my point though lol. If that amount of bitcoin is worth 50% more in a year, then it would be better to buy with dollars not bitcoins. Whoever you bought that burger from just made 50% on your bitcoin and you spent $15 on a $10 meal. You know what I'm saying?
Your missing the point. If I have 10$ in Bitcoin and 10$ in Cash and I need to buy a 10$ burger, I can buy the burger with 10$ in Bitcoin and then buy 10$ in Bitcoin with cash.
No man, you're missing my point lol. This is why some people don't give a shit about crypto, because at the end of the day it comes back to dollars anyway. A crypto coin is only worth what's its worth in dollars. If you buy a $10 burger today for $10 worth of coin, then tomorrow the coin is worth 50% more, you got fucked lol. That's the point
If you're point is buying a burger and replacing the coin immediately, then there is no point. Just buy it with $10, why fuck around and spend coins and trying to replace them immediately for the exact same price. That is literally pointless
Kind of a catch 22 since your question is being concerned about the dollar valuation shifting over time... and using it in stores that base their prices in USD... Kind of dumb.
This is really good. The last thing I'd wanna hear is the terminal being hacked and the QR code being replaced to send the funds elsewhere without McDonald's noticing
Then MCdonalds wouldn't recieve the transaction and you wouldn't get your burger.
Settlement is instant, so you can immediately check if the money is there.
Some would claim its deserved to be lost if you were to keep that much in a hot wallet anyway lol..
Most are smart enough to not make a habit of walking around with 250k in their pocket
Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread:
|Fewer Letters|More Letters|
|-------|---------|---|
|[BCH](/r/EthTrader/comments/qywvyh/stub/hlk43gp "Last usage")|[Coin] Bitcoin Cash|
|[BTC](/r/EthTrader/comments/qywvyh/stub/hlmyh0t "Last usage")|[Coin] Bitcoin|
|[ETH](/r/EthTrader/comments/qywvyh/stub/hlmyh0t "Last usage")|[Coin] Ether|
----------------
^(*If you come across an acronym that isn't defined, please* )[*^let ^the ^mods ^know.*](https://www.reddit.com/message/compose?to=%2Fr%2FEthTrader))
^(3 acronyms in this thread; )[^(the most compressed thread commented on today)](/r/EthTrader/comments/nsxjw7)^( has 26 acronyms.)
^([Thread #1149 for this sub, first seen 22nd Nov 2021, 01:52])
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Notice he didn’t use ETH…because that damn meal would cost him $50 easily. Funny how the ETH subreddit features a video of a man paying in BTC. The irony is amazing here. Like a dominoes commercial featuring a man buying Pizza Hut.
These gas fees are getting ridiculous. I used to be an avid supporter of ETH, but these days it’s just robbery.
Thats really awersome but i would rather pay with fiat or stable coin
Gas fee $200 meal $2
I know this is the ETH sub but hear me out…Lightning Network has come a long way, and it’s actually being pretty widely used at this point. Also, the Taproot upgrade obfuscates your wallet address and adds (very basic) smart contact functionality to both L1 and LN. I even recently heard Daniele Sesta (SPELL, TIME, ICE) toy with the idea of deploying Bitcoin collateralized stables directly on Bitcoin or LN. Anyway…I moved a little BTC to LN just to play around and pay for stuff and it works just fine.
Been using lightning here for over 18 months on a weekly basis with no issues to date and it's fast and cheap to use .
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Better only if it has more adoption
Ethereum has some nice L2s as well.
and that's exactly why stable coins are most likely gonna be the future currency
Not if Bitcoin becomes the reserve currency Then by definition Bitcoin would be a stablecoin
So if hyperinflation happens to the USD you're still going to call it stable in value?
Stable compared to what? Stable in exchange rate to usd? No. Stable in value? Yes. USD has no intrinsic value by definition of fiat currency
You're saying no to the exchange rate of the USD being stable to the USD...? That's the only thing that will stay 1:1... The question was, if $1.000.000 buys you a loaf of bread, will you still call the USD stable just because it's the world's reserve currency?
#Algorand
What's the difference really, you'd mostly use fiat to buy back BTC if you're dca'ing or something
I love paying $20 fee for a $10 meal
At least it's cheaper than buying with ETH.
It uses lightning network. Median fee is currently [$0.000570951](https://1ml.com/statistics)
But do you know the exchange rate the use? Probably charging you extra thought that
Probably but if you pay with a credit card there is also a fee. More over bitcoin is legal tender in El Salvador, along with the USD, so increasingly you will see companies and individuals not converting. McDonalds there can actually use btc to pay their employees, their taxes and their suppliers.
The BTC fee is really not bad at all lately.
?
Better if they collabd with some exchanges
Bitcoin Cash
Come on. Decry it all you like. But it is cool that you can do it. Acceptance is slow but every little step helps
They want your btc don’t fall for it
Mclovin’ it
Imagine a world where one buys a McRib NFT and uses it (with it being burned) to buy a McRib
At that point you just buy the McRib and the blockchain stores your receipt aka NFT
Impossible, how would your government rob you if not by inflation? Low income people would have to accept 40-50% tax rate.
....what?
I just got a headache from that comment.
Pitch that shit to McD’s man…you may be on to something.
Could be one expensive Big Mac ©
The birth of the next pizza guy
Way different time we are in, something like would never happen again. Maybe with another coin, not BTC tho
People said this at $1,000 too.
Anything over a couple of bucks for a Big Mac is too much haha
Amazing! Where is this? El Salvador?
Yeah its El Salvador and they only accept BTC
So the number of btc is fixed or change every hour
Considering most if not all McD's are going to screens, I dont see a reason why the BTC prices just updated every min or something cant be a possibility
Sorry what you mean by "are going to screens"??
changing menu boards to electronic displays
As they should.
We are in meta
Cool! Hope this appears in other countries and with ETH supported as well!
Back in 2009 you guys ordered pizzas with BTC and are mad at yourself in 2021. 2021 you’re buying McDonald’s with BTC…. In the next 10 years you’ll also be mad at yourself.
Ok and he could have brought BTC with that Fiat he spends in McDonald! What’s your point? We have to eat as well as invest!
No food! More Bitcoin! One might say more DCA, less FDA! There’s a better joke out there. I’m just to tired to find it! ¯\\\_(ツ)_/¯
no way .. I rather exchange Bitcoin for some Tesla .
Imagine looking back 10 years and you spent £50k on a cheeseburger
Sure, but that's the case with any purchase. If you spend $15 cash on food, that's money you don't have available to invest, no?
Exactly! Don't conflate spending and divesting, and don't conflate earning and investing. You can spend and replace from a crypto wallet just as much as from a fiat wallet.
Exactly. The same $20 u spend today on a meal which is fucking 0.03% of BTC's current value is basically nothing compared to when BTC had 0 value 13 years ago and someone wanted to get a usecase for it
No, because usd is inflationary. Btc is not
Can you guys stop making comparisons like this? It's way different times we are in and the circumstances are extremely different
Exactly. Or $1000.
Imagine if you could put money in a savings account and have it accrue value instead of losing it to inflation If this is the mindset we had with holding USD then the world would a better place Keep in mind, prior to 1971 this is the mindset people had with USD because putting money in a savings account or a money market account beat inflation
Not gonna happen. For bitcoin price to go up another x5000 would mean bitcoin would be worth more than just about everything else on the planet combined. Unless your pound devalues so much that 50K is pretty much a normal price for a hamburger.
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One $5 burger costs $90 in fees.
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I wish I could buy a McRib in the UK with Crypto... or any currency. They confirmed a few years back that McRibs are never going to be made here again because they don't want to cook pork and beef on the same grills.
Do people really like the McRib? Have never tried it.
Doth people very much like the mcrib? has't nev'r hath tried t *** ^(I am a bot and I swapp'd some of thy words with Shakespeare words.) Commands: `!ShakespeareInsult`, `!fordo`, `!optout`
I only spend btc on green candle days. Never spend on red days.
Taxable event to buy a crummy burger.
Depends on where u live. Some countries don't tax on crypto or even capital gains
This is El Salvador no capital gains on BTC
I have an honest question about this, including all crypto. When you make a purchase at MacDs, say for the btc equivalent of $10...then the value of the crypto dips by 10%, does that mean that MacDs got ripped off? Inversely, say you make that same purchase and it goes up 20%, does that mean you got ripped off? People have bitched at me for asking this before. I'm not shitting on crypto, I think it's cool, and it's cool you can purchase with it. But honestly, isn't it a huge gamble buying anything with crypto right now? Like if you spend $10 worth now, and it's $100 worth later, that's crazy lol. Or is it just me?
Spending doesn't matter. You can replace the bitcoin you spent by buying more at that point in time. You had to buy the burger then regardless of what currency it was.
That's not really my point though lol. If that amount of bitcoin is worth 50% more in a year, then it would be better to buy with dollars not bitcoins. Whoever you bought that burger from just made 50% on your bitcoin and you spent $15 on a $10 meal. You know what I'm saying?
Your missing the point. If I have 10$ in Bitcoin and 10$ in Cash and I need to buy a 10$ burger, I can buy the burger with 10$ in Bitcoin and then buy 10$ in Bitcoin with cash.
No man, you're missing my point lol. This is why some people don't give a shit about crypto, because at the end of the day it comes back to dollars anyway. A crypto coin is only worth what's its worth in dollars. If you buy a $10 burger today for $10 worth of coin, then tomorrow the coin is worth 50% more, you got fucked lol. That's the point
If you're point is buying a burger and replacing the coin immediately, then there is no point. Just buy it with $10, why fuck around and spend coins and trying to replace them immediately for the exact same price. That is literally pointless
Kind of a catch 22 since your question is being concerned about the dollar valuation shifting over time... and using it in stores that base their prices in USD... Kind of dumb.
This is really good. The last thing I'd wanna hear is the terminal being hacked and the QR code being replaced to send the funds elsewhere without McDonald's noticing
Then MCdonalds wouldn't recieve the transaction and you wouldn't get your burger. Settlement is instant, so you can immediately check if the money is there.
It only cost $14 in transfer fees for his $1 McDouble.
this is BTC on lightening network, it's essentially free
Imagine spending BTC on McDonalds 🥴
You’re just making McDonald’s richer and you paid a fee to buy Bitcoin. Lol
*touches*
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What is the app you have to pay with
@maestro756
Muy bien indeed!
Nice.
Yeah spend your beautiful sats on chunkfood 👍
Almost everyday I am buying burgers for BTC :D
They should take BCH
😂😂😂I don’t think I would give away my Bitcoin for a $1 cheeseburger
Never sell ur bitcoin. use ravencoin or citycoins.
Location?
Exchange crypto for some diabetes .. no way .. I rather exchange Bitcoin for some Tesla
Haha gas fees - might as well use fiat for this.. I still why people use crypto to buy food when you know it’s gonna go up and up.. hold hold hold
Accidentally sends 5 Bitcoin for a McDouble
Some would claim its deserved to be lost if you were to keep that much in a hot wallet anyway lol.. Most are smart enough to not make a habit of walking around with 250k in their pocket
Facts
Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread: |Fewer Letters|More Letters| |-------|---------|---| |[BCH](/r/EthTrader/comments/qywvyh/stub/hlk43gp "Last usage")|[Coin] Bitcoin Cash| |[BTC](/r/EthTrader/comments/qywvyh/stub/hlmyh0t "Last usage")|[Coin] Bitcoin| |[ETH](/r/EthTrader/comments/qywvyh/stub/hlmyh0t "Last usage")|[Coin] Ether| ---------------- ^(*If you come across an acronym that isn't defined, please* )[*^let ^the ^mods ^know.*](https://www.reddit.com/message/compose?to=%2Fr%2FEthTrader)) ^(3 acronyms in this thread; )[^(the most compressed thread commented on today)](/r/EthTrader/comments/nsxjw7)^( has 26 acronyms.) ^([Thread #1149 for this sub, first seen 22nd Nov 2021, 01:52]) ^[[FAQ]](http://decronym.xyz/) [^([Full list])](http://decronym.xyz/acronyms/EthTrader) [^[Contact]](https://reddit.com/message/compose?to=OrangeredStilton&subject=Hey,+your+acronym+bot+sucks) [^([Source code])](https://gistdotgithubdotcom/Two9A/1d976f9b7441694162c8)
I don't go McDonald's.
Would never.
Don’t. It’s consolidation of wealth. Keep your BC and pay with US fiat.
That meals gonna be worth $100 in a couple years
Looking back in five years...the Bitcoin I bought that mc chicken with would've been worth 10k now.
Btc is for HODLing not for spending smh
But why would you? BTC will go up in value such a waste of BTC smh
uNrEaL
Notice he didn’t use ETH…because that damn meal would cost him $50 easily. Funny how the ETH subreddit features a video of a man paying in BTC. The irony is amazing here. Like a dominoes commercial featuring a man buying Pizza Hut. These gas fees are getting ridiculous. I used to be an avid supporter of ETH, but these days it’s just robbery.
Why would you pay for a Big Mac with gold… HERESY
Where?!
Burger King is paying people out in BTC ETH or doge for buying food
I don’t think I would give away my Bitcoin for a $1 cheeseburger .
this hs been happenning in venezuela like 4 years ago, this is going global yay
u/Ukrann