AMC announced today that by the end of the year it will adopt four cryptocurrencies as a payment method for tickets in its theaters.
These payment options include Bitcoin Cash, BTC, Ethereum, and Litecoin. Because BTC and ETH payments require extremely high fees, some kind of the third party may be under consideration.
Meanwhile, Bitcoin Cash can be accepted without the requirement of a third party, something that could possibly save significant fees for any business.
Source: Twitter
Bitcoin Cash Is (at least) a Top-Four Cryptocurrency
Yesterday, it was Interactive Brokers that announced its crypto trading platform and now offers Bitcoin Cash together with Ethereum, BTC, and LTC for trading.
AMC is another top corporation that proceeds with the adoption of cryptocurrency, this time not for investment purposes but as a payments method.
While there are few details on the service AMC will use, it would be perfect for Bitcoin Cash to prove its strength by being adopted as payment with the use of non-custodial wallets.
Bitcoin Cash offers instant and feeless transactions, something the other three blockchain networks don’t. Bitcoin Cash is the Bitcoin that scales on-chain. BTC and ETH have proven to be inefficient, with high fees and clogged networks.
We have investment funds including Bitcoin Cash in their strategies and reject ten other cryptocurrencies that currently hold a higher market cap than BCH.
Bitcoin Cash is a priority when any corporation or financial organization selects the cryptocurrencies it will adopt. We’ve seen it with Grayscale, PayPal, SBI and JPMorgan, and many more companies that select Bitcoin Cash as a priority.
Bitcoin Cash is constantly a top-four selection from all the institutions and corporations that adopt crypto, yet the cryptocurrency markets act irrationally and should be valuing Bitcoin Cash at higher prices.
Maybe the crypto exchanges also have something to do with it, as some of the top (Kraken, Coinbase) require 15 confirmations to release the fund on the users' accounts.
In Conclusion
Bitcoin Cash is a huge brand already and once it recovers a leading position in the market, we will notice its publicity on the rise. For the moment, it is still in a yearly long accumulation zone, but with more developments and more adoption of the SmartBCH sidechain, there will be wonders concerning price.
The latest news by AMC is one more important step towards Bitcoin Cash adoption. Although I doubt that any AMC out there would ever adopt BTC or ETH for their blockchain efficiency.
Even Litecoin lags in all chain metrics, like the speed of transactions and fees. Bitcoin Cash is the fastest out of all these options that also asks for insignificant fees to transact. Businesses can accept it for payments as it is, with no intermediary, and it will perform as anyone would expect for a digital payments method.
Remarkably, both BTC and ETH are not payment methods. They can be used for payments under centralized custodial wallets, perhaps PayPal. BTC and ETH would require $3-$50 just for fees, making BTC and ETH holders unable to visit the cinema during times of congestion. Just something for AMC to consider, in case the service it decides to use is found to be costly and inefficient.
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