AMC theaters will start accepting Bitcoin by year's end

Shawn Knight

Posts: 13,609   +139
Staff member
In a nutshell: There’s been a concerted effort as of late to make cryptocurrencies like Bitcoin more desirable for use as a currency rather than simply a store of wealth. AMC’s adoption could further move the needle in that direction, but whether or not it proves feasible remains to be seen. The main concern? Bitcoin's notoriously high transaction fee.

You may no longer be able to purchase a new Tesla using Bitcoin, but there are plenty of other companies interested in accepting the popular cryptocurrency as a form of payment.

During a recent conference call to discuss its Q2 earnings, AMC Entertainment CEO Adam Aron formally announced that they will have the technology in place to start accepting Bitcoin as payment for movie tickets and concessions at all US theaters by the end of the year, when purchased online.

Aron added that since they had to do the “IT programming” to accept Bitcoin, they decided to also start writing the code to accept Apple Pay and Google Pay for online purchases.

Transaction fees could be one of the biggest hurdles to widespread use. For AMC specifically, one has to wonder if consumers are going to be willing to pay a premium just for the opportunity to purchase overpriced concessions. As of writing, the average Bitcoin transaction fee is $2.53, and that's on the low end. Earlier this year when Bitcoin was on a run, the average transaction fee was over $60.

As for Tesla, Musk said last month that the electric automaker will “most likely” resume accepting Bitcoin.

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wiyosaya

Posts: 6,727   +5,170
At this point, I don't think anything will get me back into a movie theater. The experience is not worth the cost. I prefer watching movies and everything else in my home.
 

eforce

Posts: 571   +720
If retail is a dinosaur, the internet is a meteor.

With the abundance of content now available at a mouse click, seeing a movie in theaters is no longer so special, especially since most new ones are garbage, if they showed decent old movies converted to 4D with perhaps some extra physical AR sensory effects like those found at some theme parks, I might be interested but until then they will die a slow death.
 

Rvnwlf

Posts: 27   +29
Covid did a real number on theater sales/closings and helped fast track new digital content streaming in the home. Personally I prefer to watch most things at home but I'm also looking forward to my semi-local IMAX theater to re-open. There are certain movie releases that deserve IMAX viewing.
 

wiyosaya

Posts: 6,727   +5,170
If retail is a dinosaur, the internet is a meteor.

With the abundance of content now available at a mouse click, seeing a movie in theaters is no longer so special, especially since most new ones are garbage, if they showed decent old movies converted to 4D with perhaps some extra physical AR sensory effects like those found at some theme parks, I might be interested but until then they will die a slow death.
Although the move was unpopular with some HT aficionados, 3D has been dead in the HT market for several years now and you want manufacturers to add 4D to the mix in the theater market? To each their own. You might save yourself a lot of money, and have a much more fun, by learning how to dream lucidly.

The real thing that killed 3D in theaters was the fact that theater projectionists had no clue that they had to turn up the brightness when showing 3D movies. Virtually all the 3D releases in theaters that I saw left me thinking I wasted my money as it added nothing to the experience for me. The only release that 3D added anything to was a documentary about 30,000-year old cave art that I saw.

Personally, I was never impressed by 3D and 4D would just add to the gimmicky nature of 3D. No thanks.

Honestly, for me, it sounds like something that the porn market would want.
 
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Uncle Al

Posts: 8,351   +7,163
I'm just waiting for the IRS to drop the hammer on ANY company that doesn't find a way to accurately track and report their bitcoin sales. You know the temptation not to report it is tremendous but frankly, unless the IRS can find an accurate way to track it, it could be a never ending battle with no clear winner.
 

eforce

Posts: 571   +720
Although the move was unpopular with some HT aficionados, 3D has been dead in the HT market for several years now and you want manufacturers to add 4D to the mix in the theater market? To each their own. You might save yourself a lot of money, and have a much more fun, by learning how to dream lucidly.

The real thing that killed 3D in theaters was the fact that theater projectionists had no clue that they had to turn up the brightness when showing 3D movies. Virtually all the 3D releases in theaters that I saw left me thinking I wasted my money as it added nothing to the experience for me. The only release that 3D added anything to was a documentary about 30,000-year old cave art that I saw.

Personally, I was never impressed by 3D and 4D would just add to the gimmicky nature of 3D. No thanks.

Honestly, for me, it sounds like something that the porn market would want.
Might want to look at 4DX that some cinemas in the UK are introducing, looks promising.

I think it will need some work by directors to take full advantage of it though.
 

Danny101

Posts: 1,912   +815
While the majority of movies, I can watch from home preferred to do so. Some movies are more enjoyable at the theater.