Topic: mastercard attacking Bitcoin (Read 7691 times)
Now you can see that they noticed grow of bitcoin an started to take actions. It is better to start campaign against BTC while bitcoin is not totally mainstream and user base is not that big
Mastercard just frustrated , Bitcoin is the future
I don't see these credit card companies lasting long 20 years from now, Cryptocurrency will wipe out master card and visa because the interest rates are low. It's only a matter of time.
They won't go away just because crypto currencies have low fees. They will just create their own blockchain at some point to get all the benefits from it without losing any control.
What does them having a blockchain have anything to do with it?
I don't see these credit card companies lasting long 20 years from now, Cryptocurrency will wipe out master card and visa because the interest rates are low. It's only a matter of time.
They won't go away just because crypto currencies have low fees. They will just create their own blockchain at some point to get all the benefits from it without losing any control.
Western Union will be the first to go, we already got them actually:
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Well, thanks for sharing such an amazing and meaningful information, looking at the figures stated above I don't think that WU has a great future ahead, it would simply diminished, the only way to survive is they should lower their transaction cost, it could attract the customers.
Well in that week it managed to surpass WU.
Considering all the advertising and costs associated with WU's revenue model that is quite the impressive feat for Bitcoin.
I don't see these credit card companies lasting long 20 years from now, Cryptocurrency will wipe out master card and visa because the interest rates are low. It's only a matter of time.
It is in their best interests at this juncture to keep it as Bitcoin underground as possible, in the hope that regulations/some other event will ultimately strangle bitcoin's potential.
Western Union will be the first to go, we already got them actually:
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Well, thanks for sharing such an amazing and meaningful information, looking at the figures stated above I don't think that WU has a great future ahead, it would simply diminished, the only way to survive is they should lower their transaction cost, it could attract the customers.
Nothing is guaranteed, If WU doesn't guarantee you its existence in next 10 years, then neither Bitcoin does, It is simply unpredictable, It can go vice-versa also.
But Ofcourse, WU is fooling or rather we can say decepting their customers by charging such an heavy transaction cost, and that is the main reason that people have reduced their transactions at WU.
Let's not for one second forget, how many people are buying bitcoins with credit cards now. So they still getting income from the bitcoin market
Hmm, well kind of. Are you talking about the Circle service? I don't know other services.
I wouldnt say getting a processing fee is saying they get things from the bitcoin market. Unless you're saying they basically get a part of every market. In which case, i guess they get income from most market, at least in North America where people pay more often with CC than Debit.
Let's not for one second forget, how many people are buying bitcoins with credit cards now. So they still getting income from the bitcoin market
Western Union will be the first to go, we already got them actually:
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Well, thanks for sharing such an amazing and meaningful information, looking at the figures stated above I don't think that WU has a great future ahead, it would simply diminished, the only way to survive is they should lower their transaction cost, it could attract the customers.
Western Union will be the first to go, we already got them actually:
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Imagine how irrelevant it will be in 10 years. Will it even exist? Maybe if they rebrand themselves and work under the blockchain they can somehow survive a post crypto environment.
Western Union got suddenly provoked simply by that picture last time .
and now It's MasterCard , it's nice to see them scared and feel threaten by Bitcoin . To da moon
and now It's MasterCard , it's nice to see them scared and feel threaten by Bitcoin . To da moon
Fuck them to be honest, WU takes insane amount of comission for transactions. Try sending money from an EU country to Africa. If they don't take at least 10% of it, i'll eat my hat.
Yes man, their transaction cost is too high, and it really sucks, I mean they really charge a heavy rate on each transaction that it becomes embarrasing, but now with bitcoins I can transfer funds across the country with the minimum transaction cost and it is quite affordable.
Western Union got suddenly provoked simply by that picture last time .
and now It's MasterCard , it's nice to see them scared and feel threaten by Bitcoin . To da moon
and now It's MasterCard , it's nice to see them scared and feel threaten by Bitcoin . To da moon
Fuck them to be honest, WU takes insane amount of comission for transactions. Try sending money from an EU country to Africa. If they don't take at least 10% of it, i'll eat my hat.
I still think that Bitcoin should be made in a way that you can transfer whole wallets to someone.
It would include making a portion of the record in the blockchain to be client coded in such a way that if you transferred a wallet, you could no longer access it. Only the client code you transferred it to would be able to access the wallet. You would still be able to transfer individual bitcoins from any wallet your client managed in the same way as usual.
I should think that such a change would make transparency even less than it is now in some ways... especially if you could go into the programming in your client, and change its code to the client code you just transferred your wallet to. (You wouldn't be able to do this if you transferred your wallet to the client of someone else. In that case, you would have given up access to the wallet. A different client would have it.)
It would include making a portion of the record in the blockchain to be client coded in such a way that if you transferred a wallet, you could no longer access it. Only the client code you transferred it to would be able to access the wallet. You would still be able to transfer individual bitcoins from any wallet your client managed in the same way as usual.
I should think that such a change would make transparency even less than it is now in some ways... especially if you could go into the programming in your client, and change its code to the client code you just transferred your wallet to. (You wouldn't be able to do this if you transferred your wallet to the client of someone else. In that case, you would have given up access to the wallet. A different client would have it.)
That's awfully complicated. Why not spend 3 cents and send your whole balance to someone else's and skip all the security things?
I dont really see a reason to do otherwise. Wouldnt your way just be a way to transfer funds skipping fee? And if so, how would it be accepted by the blockchain?
I still think that Bitcoin should be made in a way that you can transfer whole wallets to someone.
It would include making a portion of the record in the blockchain to be client coded in such a way that if you transferred a wallet, you could no longer access it. Only the client code you transferred it to would be able to access the wallet. You would still be able to transfer individual bitcoins from any wallet your client managed in the same way as usual.
I should think that such a change would make transparency even less than it is now in some ways... especially if you could go into the programming in your client, and change its code to the client code you just transferred your wallet to. (You wouldn't be able to do this if you transferred your wallet to the client of someone else. In that case, you would have given up access to the wallet. A different client would have it.)
It would include making a portion of the record in the blockchain to be client coded in such a way that if you transferred a wallet, you could no longer access it. Only the client code you transferred it to would be able to access the wallet. You would still be able to transfer individual bitcoins from any wallet your client managed in the same way as usual.
I should think that such a change would make transparency even less than it is now in some ways... especially if you could go into the programming in your client, and change its code to the client code you just transferred your wallet to. (You wouldn't be able to do this if you transferred your wallet to the client of someone else. In that case, you would have given up access to the wallet. A different client would have it.)
Mastercard and such only have so much to lose because of how much they milk people with the created need of easy transaction access. If they want to keep making money they just have to make a better system. Expecting the same method to produce money forever, demanding that no one ever create a better/cheaper/more efficient system is some serious greed.
lCome on let's be serious: is there any difference between VISA and MC?
For me it's like coca cola and pepsi. They seem at war but both of them have huge profits.
70 billion market cap advantage to VISA?For me it's like coca cola and pepsi. They seem at war but both of them have huge profits.
I don't know why people in this thread have suggested or implied that credit cards or companies are required at all. One argument was that credit is necessary for online shopping, however there are lots of online payment options that can be linked directly to a bank account. The idea that you have to be reliant on credit is a problem in itself, which makes the market for these companies to exploit. I am actually quite interested to see how the credit juggernaughts will bastardize the idea of a decentralized, immutable ledger to suit their own benefit. Believe me, they are better managed and more adaptable than Kodak.
Well, this is hardly surprising. Established companies like mastercard have a tremendous amount to lose if payment systems like Bitcoin go mainstream.
The funny part is that in less than 20 years, if MasterCard doesn't want to completely disappear forever, they'll have to somehow adapt their business and reconvert themsevels into something that runs under the Bitcoin blockchain and serves a positive reason to exist for crypto. They choose: Join us or perish.
They will join us. But the era of huge transaction fees and huge profits is coming to an end.
Mastercard will have to reconcile themselves to that fact.
Jump to: