2013-04-18 FoxBusiness - Bitcoin Buzz Draws Western Union, MoneyGram - page 2.

Gordonium

sr. member

Activity: 392

Merit: 250

Quote from: Piper67 on April 18, 2013, 03:59:57 PM

Quote from: nebulus on April 18, 2013, 03:53:29 PM

Since when shooting oneself in the foot is a good business strategy? Any kind of strategy for that matter?

I'm not so sure the shooting your own foot analogy applies. Bitcoin could save WU millions in infrastructure (if they discarded their incredibly antiquated network and switched over to the blockchain, for instance). And the overwhelming majority of the population of the planet does not have access to the items necessary to obtain bitcoins themselves (access to the internet, the ability to transfer money into and out of an exchange, a way to securely hold the coins and so on).

If you assume that Bitcoin isn't going to die any time soon, piggybacking onto it might just be the smartest thing Western Union and Moneygram could do.

This. By integrating Bitcoin WU is saving itself from going to obsolete. Adapt or die. Bitcoin is here to stay.

psybits

legendary

Activity: 1386

Merit: 1000

Quote from: Piper67 on April 18, 2013, 03:59:57 PM

Quote from: nebulus on April 18, 2013, 03:53:29 PM

Since when shooting oneself in the foot is a good business strategy? Any kind of strategy for that matter?

I'm not so sure the shooting your own foot analogy applies. Bitcoin could save WU millions in infrastructure (if they discarded their incredibly antiquated network and switched over to the blockchain, for instance). And the overwhelming majority of the population of the planet does not have access to the items necessary to obtain bitcoins themselves (access to the internet, the ability to transfer money into and out of an exchange, a way to securely hold the coins and so on).

If you assume that Bitcoin isn't going to die any time soon, piggybacking onto it might just be the smartest thing Western Union and Moneygram could do.

Yes it would be a way to future proof themselves for sure.

Piper67

legendary

Activity: 1106

Merit: 1001

Quote from: nebulus on April 18, 2013, 03:53:29 PM

Since when shooting oneself in the foot is a good business strategy? Any kind of strategy for that matter?

I'm not so sure the shooting your own foot analogy applies. Bitcoin could save WU millions in infrastructure (if they discarded their incredibly antiquated network and switched over to the blockchain, for instance). And the overwhelming majority of the population of the planet does not have access to the items necessary to obtain bitcoins themselves (access to the internet, the ability to transfer money into and out of an exchange, a way to securely hold the coins and so on).

If you assume that Bitcoin isn't going to die any time soon, piggybacking onto it might just be the smartest thing Western Union and Moneygram could do.

psybits

legendary

Activity: 1386

Merit: 1000

Quote from: nebulus on April 18, 2013, 03:53:29 PM

Since when shooting oneself in the foot is a good business strategy? Any kind of strategy for that matter?

If they provided physical locations worldwide (Western Union offices) where people can buy and sell Bitcoins in person, and send them to another BTC wallet (like a family member on the other side of the world), if they wanted to as well. There are plenty of ways they could integrate BTC into their busines model.

In fact I'd say the first business to enable walk in purchases of Bitcoin at physical in-store locations around the globe (making BTC far more accessible to all) will make a killing.

nebulus

hero member

Activity: 490

Merit: 500

... it only gets better...

Since when shooting oneself in the foot is a good business strategy? Any kind of strategy for that matter?

Gordonium

sr. member

Activity: 392

Merit: 250

Last time they were just talking about digital currencies in general but now they named Bitcoin. When executives talk like that in public it usually means that huge steps are already taken. This is really bullish.

psybits

legendary

Activity: 1386

Merit: 1000

I think it's awesome Bitcoin is at least on the radar of companies like this. When the price stabilises more (at $1000 Wink

, and as adoption keeps growing, it's only a matter of time until one of these companies adopts BTC and the market cap soars.

Zomdifros

full member

Activity: 210

Merit: 100

http://www.foxbusiness.com/news/2013/04/18/bitcoin-buzz-draws-western-union-moneygram/

Quote

The fervor over the digital currency bitcoin has drawn interest from two of the world's largest movers of money.

Western Union Co. (WU) and MoneyGram International Inc. (MGI) are studying ways their customers could use their services to send and receive money transfers denominated in bitcoins, the companies' executives say.

Both companies run remittance networks commonly used by immigrants to send money to friends and family members in foreign countries. Western Union also operates a business-solutions unit that sells services to companies for sending payments to other businesses.

Yeah I'm not exactly sure but I have the slightest hunch this news may be kinda bullish.

Topic: 2013-04-18 FoxBusiness - Bitcoin Buzz Draws Western Union, MoneyGram - page 2. (Read 2386 times)