mastercard attacking Bitcoin - page 7.

ranochigo

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Quote from: chmod755 on June 09, 2015, 05:21:19 PM

Quote from: ragi on June 09, 2015, 03:25:33 PM

Funny, yeat all bitcoin debit cards are MasterCard...

I think Xapo is using VISA. Maybe other Bitcoin companies should switch to VISA or other companies if MasterCard doesn't like that kind of business.

No reason for mastercard or any company to force Bitcoin companies to switch. Mastercard earns money through the transactions and they like it the most.

Quote

"We would argue that, when compared to MasterCard’s network, the claims pertaining to the speed and safety of digital currencies [do] not hold up, not least given that on average it takes 10 minutes for a block to be verified and that digital currencies are far more susceptible to hacking attacks."

Worst claim ever. Digital currencies are resistent to attacks as of now. If any attacks become viable in the future, hardfork will solve it. Verifying transactions is never mandatory to accept a $5 transaction when you can use protective measures.

Herbert2020

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this is a good news, it shows that there is enough potential for bitcoin to be a good competitor for mastercard. since they are attacking bitcoin it shows that they are worried about their position, and worried about losing customers to bitcoin.

alani123

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I'm sure that mastercard isn't displeased then crypto users use their products. I don't think think that any bitcoin related debit card product that is powered by mastercard will be shut down, ever.

1Referee

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MasterCard has already stated not to like Bitcoin a while ago, and now again. No surprise as it is a direct threat for them. I always say; If you can't beat them, join them.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: chmod755 on June 09, 2015, 05:39:18 PM

Quote from: goosoodude on June 09, 2015, 05:35:58 PM

Well, truth is that it isn't that hard to issue a specific debit card if you have a company. IMO the business of bitcoin reloadable debit cards isn't all that huge for mastercard but it's not like they're going to lose their costumers over a statement.

Are you still going to support them after making a statement like that?

Well i for one sure wont go through all the trouble of finding another company just because of this statement. But i have to say that i will reconsider my options once the card
expires, but by then who knows what can happen, maybe they change their stand on it even.

Funny, in the article, the picture posted was from a skrill.com(former moneybookers) debit card, which has nothing to do with bitcoin.

cheers

cozk

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Quote from: knight22 on June 09, 2015, 05:49:46 PM

It reminds me this Cheesy

Good one.

ahmedjamal1998

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Ok yeah , what they are trying to say is "Bitcoin should be centralized by us"

OK, fuck you is my message. Bitcoin is and will be anonymous and easy away from all your shitty systems.

BTC for ever Wink

anderson00673

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Quote from: hunnaryb on June 09, 2015, 06:12:48 PM

Quote from: amiryaqot on June 09, 2015, 04:16:49 PM

Mastercard got frustrated and they feel they have no future so that is the reason of FUD, BTCitcoin is the future crypto currency and has bright future ahead with so many advantages like it's low transaction fee and super fast processing time.it seems Mastercard admit of it future failure by this kind of statement.

Yes they are so frustrated that they have started making negative publicity of the bitcoin and behaving like non professionals..Ridiculous.. The people who are using bitcoin knows the advantages of bitcoin as it is the simplest way to transact and that is the reason it makes bitcoin so attractive.

Yep. Bitcoins could potentially cut into credit card profits by quite a lot. And I am not talking about taking a loan from credit cards, but just using them for convenience. I read somewhere that they generally get 2% of the transaction costs. That seems astronomical to me and they are going to fight to keep that money rolling in.

hunnaryb

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Quote from: amiryaqot on June 09, 2015, 04:16:49 PM

Mastercard got frustrated and they feel they have no future so that is the reason of FUD, BTCitcoin is the future crypto currency and has bright future ahead with so many advantages like it's low transaction fee and super fast processing time.it seems Mastercard admit of it future failure by this kind of statement.

Yes they are so frustrated that they have started making negative publicity of the bitcoin and behaving like non professionals..Ridiculous.. The people who are using bitcoin knows the advantages of bitcoin as it is the simplest way to transact and that is the reason it makes bitcoin so attractive.

knight22

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--------------->¿?

It reminds me this Cheesy

chmod755

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Quote from: goosoodude on June 09, 2015, 05:35:58 PM

Well, truth is that it isn't that hard to issue a specific debit card if you have a company. IMO the business of bitcoin reloadable debit cards isn't all that huge for mastercard but it's not like they're going to lose their costumers over a statement.

Are you still going to support them after making a statement like that?

goosoodude

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Quote from: chmod755 on June 09, 2015, 05:21:19 PM

Quote from: ragi on June 09, 2015, 03:25:33 PM

Funny, yeat all bitcoin debit cards are MasterCard...

I think Xapo is using VISA. Maybe other Bitcoin companies should switch to VISA or other companies if MasterCard doesn't like that kind of business.

Well, truth is that it isn't that hard to issue a specific debit card if you have a company. IMO the business of bitcoin reloadable debit cards isn't all that huge for mastercard but it's not like they're going to lose their costumers over a statement.

chmod755

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Quote from: ragi on June 09, 2015, 03:25:33 PM

Funny, yeat all bitcoin debit cards are MasterCard...

I think Xapo is using VISA. Maybe other Bitcoin companies should switch to VISA or other companies if MasterCard doesn't like that kind of business.

mearylll

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Quote from: Hazir on June 09, 2015, 11:52:55 AM

Quote from: JayCoDon on June 09, 2015, 10:38:09 AM

"All transactions should go through us!" is what the person was really thinking. Yeah, that's cool ... Or they can go through thousands and thousands of people verifying transactions, which is far more powerful than just one. When they fear you is when things are getting good.

That is right, Mastercard is starting to worry. They want monopoly and top position on the financial market as payment processor. People at charge MasterCard are afraid of the cryptocurrency recent development and they know that bitcoin is the future. Why not smear and tarnish reputation of it, while it is still new technology and people are not fully convinced.

yes they are worried about the bitcoin as bitcoin is a competitor for them now and they are considering it as a threat to their businesses and the customers as the customers have started knowing the bitcoin and are getting attracted towards the bitcoin and master card are afraid of loosing their customer.

goosoodude

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Quote from: masterzino on June 09, 2015, 04:57:00 PM

Time for mastercard to stop bitching and start diversifying their business model.

If we're going to view mastercard as a competitor to retail acceptance of bitcoin, I think that they're doing a good job in terms of acceptance. Why would they diversify their business model when they own a network that can succesfully handle 24k transactions per second worldwide (that's more than bitcoin at the moment btw).

But to be honest, by seeing such a statement I'm pretty sure that they're getting scared of the potential bitcoin could have.

masterzino

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Time for mastercard to stop bitching and start diversifying their business model.

Alley

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The fact that they are saying anything about bitcoin shows there starting to think of it as a threat.

amiryaqot

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Mastercard got frustrated and they feel they have no future so that is the reason of FUD, BTCitcoin is the future crypto currency and has bright future ahead with so many advantages like it's low transaction fee and super fast processing time.it seems Mastercard admit of it future failure by this kind of statement.

pliv84

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Even better, the former CISO of MasterCard just joined BitReserve:

www.coindesk.com/former-mastercard-exec-joins-bitreserves-security-team/

What a PR disaster for MasterCard Cheesy

oblivi

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I don't think he's actively attracking Bitcoin. The CEO of these companies are literally grandpas, they don't really know what Bitcoin is about. Some do tho, i've just seen the founder of Visa is working in Xapo and is pro-Bitcoin and thinks it's the future.

Topic: mastercard attacking Bitcoin - page 7. (Read 7693 times)