Topic: It's Public Now: MasterCard Offically Lobbying on Bitcoin in U.S Congress (Read 4662 times)
May 01, 2014, 02:34:53 PM
As the famous quote goes, "First they ignore you, then they laugh at you, then they fight you, then you win"
May 01, 2014, 02:26:27 PM
I am on crypto and not going back. Always felt like something was off with the economy. People working their whole life, and dying with what...50K saved, if lucky?
You retire, big whup, you are 68 years old and all the spring is gone from your step.
You only got one life man, live it the way you want to! Bitcoin will change that, IS changing that. People will see real gains with honest money, and won't be practically dead when they have time to spend it and enjoy life.
Fk this feudal system bullshit, fk being a tax cow.
If Mastercard and Visa go belly up then I won't lose a wink of sleep over it!
You retire, big whup, you are 68 years old and all the spring is gone from your step.
You only got one life man, live it the way you want to! Bitcoin will change that, IS changing that. People will see real gains with honest money, and won't be practically dead when they have time to spend it and enjoy life.
Fk this feudal system bullshit, fk being a tax cow.
If Mastercard and Visa go belly up then I won't lose a wink of sleep over it!
May 01, 2014, 02:00:13 PM
This lobbying activity clearly implies that the biggest payment processors, with trillions of dollars of annual turnover, are seriously considering Bitcoin as a threat or an opportunity. This explains the huge potential of the Bitcoin as a payment medium and its potential of reaching the $10,000+ price mark based on the expected upcoming demand!
May 01, 2014, 01:55:40 PM
This is interesting. I wonder how that will affect the BTC market going forward. I think the more big corps that sign on, the more valuable BTC might become?
Probably. And people will stop saying bitcoin is only for drugs and illegal activities (which is not true).
May 01, 2014, 11:03:24 AM
Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.
We should begin buying bitcoin with their cards just to pump wealth into btc.
There are few places you can buy bitcoin with credit cards, and I am sure MasterCard and Visa will be more than happy to have done more business lol.
May 01, 2014, 10:56:13 AM
Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.
We should begin buying bitcoin with their cards just to pump wealth into btc.
May 01, 2014, 10:52:39 AM
It's worth noting that it's not yet clear if they are lobbying for bitcoin or against bitcoin. While most of us would assume a negative, it could very well be that they are lobbying to get better rules and regulations to allow them to get into the crypto currency market one way or another. As someone else said, this could just be so they have legal clarity on what they can or can't do and is an attempt to get politicians to get on the ball and make things more clear in a quicker manner.
May 01, 2014, 09:51:07 AM
Not surprising, merely a matter of time
Game on...
Game on...
+1.
If bitcoin gets more and more successful, the credit card companies will have less business and less profit. So, it is not surprised to read something like that.
May 01, 2014, 09:45:49 AM
Well, they have to do something. 
May 01, 2014, 09:43:33 AM
Not surprising, merely a matter of time
Game on...
Game on...
May 01, 2014, 09:32:47 AM
Who exactly owns the "rights" to bitcoin anyways. I think one day soon all of this will be changed in court. Assuming MasterCard believes bitcoin a threat.
May 01, 2014, 08:23:37 AM
I think that honestly what is going to happen is going to be that MasterCard and or visa and bitcoin are going to merge and they are going to find a way to use bitcoin
May 01, 2014, 08:17:04 AM
It shows how scared MasterCard is due to the rise of Bitcoin. It's ironical that in their recent risk disclosure statements, MasterCard & Visa did not disclose Bitcoin as a risk! But from deep inside they are totally scared.
Full news story here:
http://thehill.com/business-a-lobbying/business-a-lobbying/204733-mastercard-lobbying-on-bitcoin
I think the community or the Bitcoin foundation need to wear their Lobbying hats NOW!
I think now I can confidently say: Bitcoin to the moon (AKA: $10,000) -- in medium to long term, of course.
Full news story here:
http://thehill.com/business-a-lobbying/business-a-lobbying/204733-mastercard-lobbying-on-bitcoin
I think the community or the Bitcoin foundation need to wear their Lobbying hats NOW!
I think now I can confidently say: Bitcoin to the moon (AKA: $10,000) -- in medium to long term, of course.
Are you joking?
http://www.coindesk.com/new-mobile-payment-system-paym-poses-challenge-bitcoin/
Do you know how easy it is for most credit card companies / banks to implement this "Paym" solution(it already exists in some major banks)? Like I have always said, Bitcoin doesn't help the normal average person almost at all in any way shape or form. Most people don't ever pay any fees on any banking services, especially when credit cards give you 5% off on rotational categories and 2% on every day purchases.
The case is closed on how much BTC helps average person, it doesn't.
however, tech people will use it always no matter what, so there is certainly a niche that won't go away.
I gotta say, it has been a good run, but Bitcoin can easily be shoved into the back of the closet. A few gifted coders did create something that is good yes. But everyone is very entrenched in loans with USD and banks and CCs. Bitcoin taking down the USD as the world reserve currency is a complete joke. That is like saying Apple will gain more market share in operating systems for computers/laptops. Never gonna happen ever.
yeah banks are giving us money for using their services... best business model ever. seriously... you are aware that they are massively charging merchants for using their services. I do not know if you are familiar with poker, but your 5% or 2% are at best a rakeback from the rake you pay to the provider. it is obviously more cost efficient not to pay rake at all.
my thesis is that systems without a middlemen are always more cost efficient than systems with a middle men - that is for me the most convincing reason why crypotcurrencies will succeed
0% annual fee, 0% banking fee, 0% transfer fee, 0% late fee(I am never late and always pay off anyways).
So that 2% to 5% I rake back, is purely going back to me. Credit card companies lose money on me, I am a pure money pit to them. I NEVER PAY INTEREST to any cc company as I always have auto pay set to pay my balance. My dad taught me this, get a cc with no fees that has rewards and its an easy way to get money back.
Not to mention I signed up for a few different credit cards so i can take advantage of the rotating 3 month promotional 5% categories. Example, discover might give 5% off gas for the next 3 months so I only use that to buy gas, my chase preferred visa might be 5% off home improvement items so i only buy home improvement items with that. BTC gives absolutely nothing off and is volatile, so yeah not using that to buy anything, + you get to pay a nice transaction fee and you have to keep track of it and provide the details when filing your taxes(no thanks lol). although obviously it would be hard for them to catch you "NOW" but once they start getting systems put together that tie in your bank account that you used to link to coinbase or whatever, they link it back to you, few years down the road something shows up for thousands of dollars worth of BTC transactions with your name on it, and they are auditing you
gotta love how the blockchain can be used to go back into the past and fuck you huh? May 01, 2014, 07:39:43 AM
How much paypal is worth. Strictly business wise - amount they generate in commissions and fees from the merchant accounts minus costs. Aka profit per year X say by 10. Plus brand is worth something as they can launch new services to somewhat loyal customers. And in times where data is worth alot, data held also adds to the valuation.
And
Well if you have read comments there you would see -
What about Paypal and WesternUnion lol? How much does the companies worth?
Bitcoin is even way better than PP and WU IMO.
And
Well if you have read comments there you would see -
From article comments.
“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)
Kinda makes sense I think coin start then goes up then it finds its price level. Something like that.
“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)
Kinda makes sense
I think coin start then goes up then it finds its price level. Something like that.What about Paypal and WesternUnion lol? How much does the companies worth?
Bitcoin is even way better than PP and WU IMO.
May 01, 2014, 07:22:56 AM
From article comments.
“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)
Kinda makes sense I think coin start then goes up then it finds its price level. Something like that.
“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)
Kinda makes sense
I think coin start then goes up then it finds its price level. Something like that.What about Paypal and WesternUnion lol? How much does the companies worth?
Bitcoin is even way better than PP and WU IMO.
May 01, 2014, 07:17:24 AM
From article comments.
“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)
Kinda makes sense I think coin start then goes up then it finds its price level. Something like that.
“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)
Kinda makes sense
I think coin start then goes up then it finds its price level. Something like that. May 01, 2014, 03:38:50 AM
Typewriters are still around... so maybe the Mastercard lobbyists are trying to at least save them enough maybe to cater to the older than 50 years crowd who will find it harder believe in bitcoin? Mastercard will soon be cute like a typewriter...
May 01, 2014, 02:13:11 AM
Indeed If we compare Bitcoin with master/visa cards bitcoin is nothing. So yes what we can do is just try to spread bitcoin word as much as possible till It gets Its power.
May 01, 2014, 01:59:56 AM
Is there any scenario where Mastercard can join with BTC and help innovate it and work with it - keeping it's bottom line?
No. Bitcoin was created to end the exploitative practices of greedy corporates such as Master / Visa / Paypal / Western Union. If Master want to join the BTC, then they will have to eliminate their greed, which I think is never going to happen.
April 30, 2014, 09:14:58 PM
This all goes to show that Bitcoin can't die. Those in power are desperate to control it and those who stand to lose from it are either trying to control it or hop on board in some way.
It's a simple concept that even some Bitcoiners don't get. Bitcoin can't die. Maybe it can be superseded by another Bitcoin type system but it can't die. Because you can really regulate the unregulatable and you will never stop people seeking to freely pass around wealth. Add an indestructible element and you will never kill it.
It's a simple concept that even some Bitcoiners don't get. Bitcoin can't die. Maybe it can be superseded by another Bitcoin type system but it can't die. Because you can really regulate the unregulatable and you will never stop people seeking to freely pass around wealth. Add an indestructible element and you will never kill it.
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