Mastercard and Bitcoin - page 2. | Bitcointalksearch.org

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: dragons_are_secure on November 15, 2017, 08:46:31 PM

I'm guessing many have read this article about MasterCard patents and some history of their views on bitcoin.

https://cointelegraph.com/news/mastercard-patents-blockchain-tech-for-instant-payments

I'm curious Bitcoin Forum members views on the patents. Any comments about the closing line:

" This most recent announcement only highlights the level of intensely negative feelings toward Bitcoin among institutionalized finance departments, all while embracing the technology it is built on. "

This is another high level of hypocrisy from the MasterCard team coming to lay credit to something that is not even theirs to begin with and its boils down to the following

1. The same invention that they have been critical about and recently disable payment and support for bitcoin outside the EU region.

2. How do you even lay claim to something that is already in the public domain. This move to me, is not out of the love for bitcoin nor because of one great invention, rather its just a way to tame an emerging currency that could make them obsolete and lose the market share they currently enjoy. They believe that by "owning" it by this move, they can then decide to either continue its development or shut it down while anyone still developing on it will be infringing on their own right.

macartem

sr. member

Activity: 676

Merit: 319

Quote from: Xynerise on November 16, 2017, 03:48:53 PM

Big companies especially banks love blockchain technology but don't like bitcoin.

yes, but mastercard also invested in bitcoin

Mascrypto

newbie

Activity: 42

Merit: 0

Yes! That's what we need! Accepting recognized brands in the world is the key to success!

Xynerise

sr. member

Activity: 322

Merit: 363

39twH4PSYgDSzU7sLnRoDfthR6gWYrrPoD

Big companies especially banks love blockchain technology but don't like bitcoin.

cr1776

legendary

Activity: 4228

Merit: 1313

Quote from: haltingprobability on November 15, 2017, 11:05:01 PM

Quote from: icochick on November 15, 2017, 10:52:07 PM

Clearly they have a love hate relationship with it -
But they NEED to adapt to it to keep up with it and ensure that they are able to still maintain their piece of the pie.

Do you think this will change the community that was built on this type of currency?

Any form of "cryptocurrency" coming from a major institutional player will be just another shitcoin and will share the same fate as all other shitcoins...

Agreed. If there is only one or very few participants in this block chain technology, they can just use a database and a contract with merchants.

haltingprobability

member

Activity: 98

Merit: 26

Quote from: icochick on November 15, 2017, 10:52:07 PM

Clearly they have a love hate relationship with it -
But they NEED to adapt to it to keep up with it and ensure that they are able to still maintain their piece of the pie.

Do you think this will change the community that was built on this type of currency?

Any form of "cryptocurrency" coming from a major institutional player will be just another shitcoin and will share the same fate as all other shitcoins...

sqid

member

Activity: 78

Merit: 10

Blockchain - technical genius - world changing

Bitcoin - social genius - world changing - if we keep it decentralized and uncensorable

icochick

member

Activity: 131

Merit: 10

Clearly they have a love hate relationship with it -
But they NEED to adapt to it to keep up with it and ensure that they are able to still maintain their piece of the pie.

Do you think this will change the community that was built on this type of currency?

diezorocket

newbie

Activity: 55

Merit: 0

Always find it interesting how they (*traditional financial institutions) like to bash Bitcoin which is the first to actually use the Blockchain and
just go with the idea of utilizing the blockchain to push their own brand of coin which will be very private and highly centralized and also easily manipulated and controlled by them in my opinion. A screwed up, perverted version of what Blockchain is suppose to be.

haltingprobability

member

Activity: 98

Merit: 26

Quote from: dragons_are_secure on November 15, 2017, 08:46:31 PM

I'm guessing many have read this article about MasterCard patents and some history of their views on bitcoin.

https://cointelegraph.com/news/mastercard-patents-blockchain-tech-for-instant-payments

I'm curious Bitcoin Forum members views on the patents. Any comments about the closing line:

" This most recent announcement only highlights the level of intensely negative feelings toward Bitcoin among institutionalized finance departments, all while embracing the technology it is built on. "

"Pro-blockchain, Anti-Bitcoin" Roll Eyes

Of course MC and the other CCs hate Bitcoin. They can easily see that if Bitcoin catches on, they are doomed.

When the institutional guys say "We love Bitcoin's technology but hate Bitcoin", they mean that they are all for using generic crypto primitives to secure financial communications, and so on. They refuse to acknowledge that what makes Bitcoin Bitcoin is not its crypto (even though it couldn't exist without crypto) but its core principles, especially "No censorship", "Permissionless" and "Minimal Trust". The entire edifice of modern financial institutions is built on censorship, permission and "just truuuuuuuuuuuuust us!"

dragons_are_secure

jr. member

Activity: 42

Merit: 2

I'm guessing many have read this article about MasterCard patents and some history of their views on bitcoin.

https://cointelegraph.com/news/mastercard-patents-blockchain-tech-for-instant-payments

I'm curious Bitcoin Forum members views on the patents. Any comments about the closing line:

" This most recent announcement only highlights the level of intensely negative feelings toward Bitcoin among institutionalized finance departments, all while embracing the technology it is built on. "

Topic: Mastercard and Bitcoin - page 2. (Read 1744 times)