It Is All Set For McDonald's To Introduce A Big Mac-Based 'Currency'
Read all the details of the MacCoin. Can a purge in the cryptocurrency strengthen the industry?
Where Is The McDonalds Headed To?
For celebrating its 50th anniversary, McDonald's Corp is rolling out its global currency dubbed MacCoin that will be available while supplies last. It was said that according to the Chicago based fast-food chain operator, starting shortly the customers can receive a MacCoin with the purchase of a Big Mac at around 14,000 restaurants around the US as long as supplies last and customers can redeem the MacCoin for a free Big Mac at participating restaurants in the US and more than 50 countries.
McDonald’s Coins Comes As A Nod To The Past
The step forward is that while the McDonalds is rolling out five commemorative coins, it has designed each representing a decade of Big Mac by pulling in history, art, music and pop culture from the different periods, as an example, for the 70’s MacCoin it features flower power while the 80s coin focuses on pop art and the 90s coin defined with abstract shapes and bold colors. Thereafter the coin for the 2000s celebrates technology that defined that decade while the 2010s MacCoin is a nod to the evolution of communication according to McDonald's in the press release.
It is here that McDonald's President and CEO Steve Easterbrook in a press release stated that as it was introduced at a family-owned McDonald’s restaurant 50 years ago, the BigMac has also traversed the globe and is enjoyed in cities from Shanghai to Chicago, thereby providing delicious feel-good moments to people all around the world. He says that they wanted a global celebration as unique as the burger itself, and it transcends currencies to commemorate their global iconic burger while giving customers all over the world to enjoy a Big Mac on us.
There Is A Long A Way To Gauge Global Purchasing Power
Subsequently, Easterbrook said in an interview with USA Today that the MacCoin idea was born out of the fact that the Big Mac has played a global role in measuring the purchasing power of consumers’ for years, as the executive pointed to the Big Mac Index where the Economist began using backin1986 gauging the purchasing power of the international currency. Furthermore they use it to this day and according to him why not have some fun with it creating their currency while McDonald's is said to sell 1.3 billion Big Macs in 2017.
Thereby the McDonalds is reported second-quarter earnings that beat Wall Street expectations by 7 cents reporting EPS of $ 1.99 on revenue of $ 5.35 billion with the revenue declined 11.5 % year-over-year blaming on franchising agreements with Global same-store sales rising by 4%
What Do You Say? Could A Crypto 'Purge' Strengthen The Industry?
It is observed that despite countless expert opinions, suggesting that Bitcoin (BTYC), Ethereum, or any of several other prominent digital currencies will shoot up into unexplored price territory shortly where yet the signs do not point to those predictions being realized. It is here that Bitcoin continues to hover in the $ 6,000 to $ 7,000 range as analysts expressing optimism or shock in turn when it moves up or down with an impressive value particularly in comparison with the rest of the cryptocurrency field, whereby it is still a far cry from the highs of roughly $ 20,000 that the coin experienced and the biggest question now is how to reinvigorate BTC bringing it up back to that $ 20,000 range or ideally above into new highs. This is where at the same time though the cryptocurrency space is always becoming more and more crowded. Thereby could purging the lesser-known unsuccessful digital tokens help a coin like BTC to rise again?
The Bitcoin as Logarithmic Asset
According to the CEO of investment website ADVFN.com and author of multiple investment books, Clem Chambers believes that Bitcoin is a logarithmic asset and the Bitcoin was in a bear market trending lower as he believes that Bitcoin has been reflective of a bubble and that the bubble has burst whereas now disregarding the non-centralized and non-mineable tokens, it is still possible that BTC could climb back up to $ 20,000 or even dramatically higher.
Hereby in a Forbes report, Chambers suggests that there may be more distance to fall before BTC hits the bottom as he waits for headlines suggesting that Bitcoin is dead, and investors less determined to find the true bottom of the market that may be interested in investing sooner. Therefore whether they are at or approaching the bottom or if there’s still room for BTC prices to fall, Chambers believes that Bitcoin in particular and these cryptocurrencies, in general, have been seen growing logarithmically thereby suggesting a compound growth that is of 26% per period. Here over 10 periods of 26% growth then the total growth would be 1000%.
Finally Here Is The Key To Logarithmic Growth
Meanwhile, Chambers believes that the key to continued logarithmic growth is whether or not the market mechanism of BTC remains viral as how does one ensure that this is the case? There is just one way to do so that would be to clear the cryptocurrency space of unnecessary clutter with hundreds of coins having piled onto the digital currency trend started by Bitcoin in the hopes of achieving either quick money or more sustained success where some have been successful particularly when they can distinguish themselves with innovations like new consensus mechanisms and token distribution models as most though have seen middling success at best.
Here is the digital currency system remaining largely unregulated as the potential culling of the herd would have to occur voluntarily as of course there are also many benefits to a market place including a diverse array of digital tokens and assets. It is here that however getting rid of some unsuccessful coins may reshift the focus back onto BTC and other prominent digital currencies providing them the vital energy that they need to continue Chambers upward trends imaging a situation in which one could infuse a couple of hundred billion into the total cryptocurrency market cap as Chambers say it’s easy to see that another x10 is doable with Bitcoin still behaving logarithmically as soon it will be on its way to the moon again.