Headline: Bitcoin Buzz Draws Western Union, MoneyGram - page 3.

impulse

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Quote from: Kazu on April 18, 2013, 05:47:04 PM

I think you guys fail to understand the gravity of the situation.

WU literally could, with extremely little effort, turn every single WU place into the equivalent of a Bitcoin ATM.

This is true. With their existing infrastructure they could instantly become the defacto Bitcoin exchange and Bitcoin bank while barely lifting a finger and expand their business into a whole new world. Western Union could in essence be Bitcoins "killer app".

NamelessOne

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Quote from: ElectricMucus on April 18, 2013, 05:52:30 PM

I think they are mainly concerned with the competition. (No not Bitcoin itself, stupid), but rather the lots of small electronic cash providers who are attached to Bitcoin in one way or the other.
Paxum, Dwolla, OKpay, and so on.

That is a good point and they would be smart to act quickly.

ElectricMucus

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Marketing manager - GO MP

I think they are mainly concerned with the competition. (No not Bitcoin itself, stupid), but rather the lots of small electronic cash providers who are attached to Bitcoin in one way or the other.
Paxum, Dwolla, OKpay, and so on.

NamelessOne

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Quote from: Kazu on April 18, 2013, 05:47:04 PM

I think you guys fail to understand the gravity of the situation.

WU literally could, with extremely little effort, turn every single WU place into the equivalent of a Bitcoin ATM.

Yeah, that is pretty much what I was saying with the 'local exchanges'. They already have the infrastructure across the globe. Cheesy

Kazu

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Quote from: keewee on April 18, 2013, 05:49:38 PM

Quote from: checkers6676 on April 18, 2013, 05:44:01 PM

Perhaps the company itself would use bitcoin as a tool to transfer funds internationally, and as a result cut down on their overhead so they can put more money in their own pockets while charging customers the same fees?

Or they could reduce their fees. The first one to embrace Bitcoin would get a jump on the competition

It would require them becoming an exchanger to do so, unless they want to suddenly stop working the moment gox goes down.

keewee

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Quote from: checkers6676 on April 18, 2013, 05:44:01 PM

Perhaps the company itself would use bitcoin as a tool to transfer funds internationally, and as a result cut down on their overhead so they can put more money in their own pockets while charging customers the same fees?

Or they could reduce their fees. The first one to embrace Bitcoin would get a jump on the competition

Kazu

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I think you guys fail to understand the gravity of the situation.

WU literally could, with extremely little effort, turn every single WU place into the equivalent of a Bitcoin ATM.

checkers6676

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Perhaps the company itself would use bitcoin as a tool to transfer funds internationally, and as a result cut down on their overhead so they can put more money in their own pockets while charging customers the same fees?

NamelessOne

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Quote from: Qoheleth on April 18, 2013, 05:34:22 PM

I don't understand what they're proposing they do. Using Western Union to transfer BTC would be like using a team of horses to deliver a car.

LOL! I'd say the best thing they could do would be become a local exchange. A place to quickly sell and buy bitcoin in perhaps even large amounts. I've never used the company so I have no idea how they work, but local exchanges already located in cities across the world would be incredibly useful.

Qoheleth

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Spurn wild goose chases. Seek that which endures.

I don't understand what they're proposing they do. Using Western Union to transfer BTC would be like using a team of horses to deliver a car.

checkers6676

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

aaaaaand....speculate!

http://mashable.com/2013/04/02/western-union-bitcoin/

http://online.wsj.com/article/SB10001424127887324493704578431000719258048.html

Topic: Headline: Bitcoin Buzz Draws Western Union, MoneyGram - page 3. (Read 3983 times)