AMEX is positive about bitcoin (enough room in the market for both)

botany

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Quote from: TrailingComet on December 30, 2014, 12:35:34 AM

Interesting news, thanks for sharing
I would have thought that it would be very onerous from a legacy systems perspective for the likes of Ame3x to adopt blockchain tech, but lets see what happens

It is simple - they have to adapt or they perish. Amex wouldn't want to go the way of Kodak and Nokia...

TrailingComet

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Interesting news, thanks for sharing
I would have thought that it would be very onerous from a legacy systems perspective for the likes of Ame3x to adopt blockchain tech, but lets see what happens

caribbeanbitcoiner

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Quote from: Daniel91 on December 24, 2014, 09:03:51 AM

Quote from: Sindelar1938 on December 24, 2014, 09:00:14 AM

Amex is likely trying to hedge itself. Adopting btc in some form may be the only viable way to survive long term.
Watching this space

Yes, eventually this will happen and all this major credit card companies will become history, thanks to bitcoin, but I'm afraid that this will not happen soon.
Long way is ahead of us

Share some of that good stuff you're smoking Shocked

Credit isn't going anywhere especially with a shrinking US middle class

Zendikar

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Nice share, very interesting in the modern age

chopstick

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Quote from: Soros Shorts on December 24, 2014, 04:08:30 AM

Meanwhile it will soon no longer be possible to use AMEX Serve cards as a method to collect payments when selling bitcoins online because they are taking away the anonymous funding options (MoneyPak, Vanilla). You can still reload with cash but you need to go physically to a register at some store.

I'm pretty sure they did that to discourage Bitcoin trading using Serve. Talk about a mixed message.

Moneypaks and Vanillas with the scratch off codes on the back are both being discontinued. This is being done to discourage money laundering and other scams that were being run with moneypaks. It has nothing to do with AmEX.

goosoodude

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Quote from: dimsky on December 24, 2014, 03:43:41 PM

Quote from: leopard2 on December 24, 2014, 12:49:44 PM

They could gain a massive competitive advantage over the larger card issuers by accepting BTC directly for deposit and withdrawal

that would be a good reason to use Amex over mastercard or visa

There has been quite a bit of talk about how it's almost impossible to prevent fraud when it comes to accepting BTC payment over credit cards.
http://www.reddit.com/r/Bitcoin/comments/2dsadk/why_cant_you_buy_bitcoins_easily_with_a_credit/

The trick is not to use the Bitcoin protocol directly, but add a layer on top of it which adds the functionality. Using a multisig escrow may be one option, but no doubt devs will have better ideas in mind.

Guido

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thanks for link franky1

dimsky

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Quote from: leopard2 on December 24, 2014, 12:49:44 PM

They could gain a massive competitive advantage over the larger card issuers by accepting BTC directly for deposit and withdrawal

that would be a good reason to use Amex over mastercard or visa

There has been quite a bit of talk about how it's almost impossible to prevent fraud when it comes to accepting BTC payment over credit cards.
http://www.reddit.com/r/Bitcoin/comments/2dsadk/why_cant_you_buy_bitcoins_easily_with_a_credit/

leopard2

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They could gain a massive competitive advantage over the larger card issuers by accepting BTC directly for deposit and withdrawal

that would be a good reason to use Amex over mastercard or visa

Q7

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And I thought amex and mastercard are both into the same line of business. Just wondering, why they don't share the same opinion which mastercard had earlier about bitcoin grabbing their market share. Seems to embrace it on their end (amex).

Daniel91

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Quote from: Sindelar1938 on December 24, 2014, 09:00:14 AM

Amex is likely trying to hedge itself. Adopting btc in some form may be the only viable way to survive long term.
Watching this space

Yes, eventually this will happen and all this major credit card companies will become history, thanks to bitcoin, but I'm afraid that this will not happen soon.
Long way is ahead of us

Sindelar1938

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Amex is likely trying to hedge itself. Adopting btc in some form may be the only viable way to survive long term.
Watching this space

franky1

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to be honest VISA, MASTERCARD and AMEX do not make very much on debit cards, their true value is in the credit industry. which is why i think that video highlights AMEX lack of fear, because bitcoin wont put a dent into the credit industry.. well not without insured 3rd parties layers above bitcoin.

Soros Shorts

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Meanwhile it will soon no longer be possible to use AMEX Serve cards as a method to collect payments when selling bitcoins online because they are taking away the anonymous funding options (MoneyPak, Vanilla). You can still reload with cash but you need to go physically to a register at some store.

I'm pretty sure they did that to discourage Bitcoin trading using Serve. Talk about a mixed message.

newIndia

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...and then u win Wink

franky1

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even american express see's that bitcoin can be positive

https://www.youtube.com/watch?v=_SUO2YFDSCY

Topic: AMEX is positive about bitcoin (enough room in the market for both) (Read 1358 times)