Tuesday, August 29, 2017

Newest bitcoin participant: Russian Burger King FFS

FT Alphaville - Russian Burger King invents "Whoppercoin". This is silly, and Kadim Shubber does his best Izzy Kamizzy:

Big news out of Russia today. Burger King has launched a new loyalty points program called “WhopperCoin”.

If you buy enough Whopper sandwiches from the fast-food chain and accumulate 1,700 loyalty points, you get a free one.

It’s big, big news. The kind of big news that gets covered by the BBC, the Verge, CNBC and Fortune.

Why is it big news?

Well, because Burger King Russia is calling it a “cryptocurrency”…

‘Now Whopper is not only burger that people in 90 different countries love – it’s an investment tool as well. According to the forecasts, cryptocurrency will increase exponentially in value. Eating Whoppers now is a strategy for financial prosperity tomorrow,’ comments Ivan Shestov, Head of External Communications at Burger King Russia.

Just to be clear, that’s someone calling a fast-food chain’s loyalty points program, which has a fixed conversion rate to B.U.R.G.E.R.S., an “investment tool” that is forecast to “increase exponentially in value”.

You know it's a stupid idea when you can channel Zoidberg:

"A-ha! Once again, the conservative sandwich-heavy portfolio pays off for the hungry investor!"

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