Topic: Mastercard Bitcoin Global Adoption? (Read 667 times)
Interesting to follow the development of this project, the easiest thing to implement is to make stable coins like USDT successful and faster for marketing, if making pure coins is decentralized it takes a long time to be successful even though their customers have reached hundreds of millions. stable coins will certainly be considered the same as fiat by users who are not familiar with cryptocurrencies.
People tend to forget that the payment processor middle men are the ones that profit from traditional currencies because they act as the intermediate between a merchant and seller -- physical cash isn't supposed to be convenient, they fill the role. I'm cautious when a giant payment processor enters the crypto space because they are shills for fiat currencies and profit from the high fees.
To be clear, though, they can serve a role in a crypto based society, essentially someone can have a credit card based on crypto and can make daily purchases, repaying the issuer in crypto every month. But we're far from that system.
To be clear, though, they can serve a role in a crypto based society, essentially someone can have a credit card based on crypto and can make daily purchases, repaying the issuer in crypto every month. But we're far from that system.
Mastercard called bitcoin unsuitable for payments due to its volatility and its transaction takes too much time said executive vice chair Mastercard Ann Cairns in an interview with MarketWatch https://www.marketwatch.com/story/mastercard-executive-bitcoin-is-too-volatile-to-be-part-of-its-network-11614245946
Umm, this was supposed to be one of the problem bitcoin would face. That’s the thing bitcoin will never be able to solve I think and it’s going to be one of the biggest hurdles for it to get global adoption status. If MasterCard is not able to think any other ways to adopt the bitcoin then no developer would be able to solve the problem.
First I really thought that MasterCard or Visa will have some solutions. For example, by using the credit system where users will keep spending money on crypto form and at the background these companies will keep capturing the rate at which the transaction made. Later they will accumulate the bills and user will have to pay the amount. Some sort of system could have been miracle. But anyways it seems everything is failing now. Sad to see this news.
for sure of they want it, bitcoin use for global, not only in big city also spread to the edge. however, lack of spreader make older and small village dont know about crypto, and it can be obstacle for bitcoin to surf around the world, i mean overall. from this moment we know that the big party admit and use it as global supporter for user.
For sure this becomes a centralized again.
If that happens, then Bitcoin loses its uniqueness. And I'm not sure all BTC investors will continue to invest if BTC becomes centralized. For me, why do I want to invest in BTC because it is not centralized and it regulates the prices, buyers and sellers. No third party governs this or should it be. The more there is control, the BTC will be no different from fiat, which is eroded by inflation.
It is an appreciation but it does not have 100% support because it may be centralized, but only there, if you have control by some users or people it is because they adhere to their rules, obviously it is their decision, but what What really matters is that as more people enter the market, much more demand will be generated, therefore the price will increase because the supply decreases, since it is logical that who will want to sell when the currency is rising, perhaps sell in the first correction or Including in the second and that because you want to do a favor, but it really is not like that, since the currency always gives that behavior when it is going to rise a lot in price.
I just saw the news regarding Mastercard's progress in expanding their services in crypto transactions. I think this is one of the many reasons that support the stability of crypto prices in the market. By making it easier for customers to make transactions in their digital wallets, it will be easier for people who don't understand how to enter the cryoto market to learn with this mastercard service.
This is the source https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/mastercard-expands-cryptocurrency-services-wallets-151401539.html
This is the source https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/mastercard-expands-cryptocurrency-services-wallets-151401539.html
Negative thing: They will surely use some centralized system with possible ban for any suspicious transactions, and they will probably hold private keys for any coins on their network.
I don’t think what you stated as a negative thing is really the negative thing about this; we all already knows that MasterCard is centralized, so you should know that it’s the same method that they are coming with. And as blocking suspicious transactions, well if the transaction is really suspicious then they are doing that to block you from either doing something bad or being done something bad, and that’s it. But where did you get the news about MasterCard accepting bitcoin, because the one I have seen never said it’s Bitcoin, but centralized coins instead.In the end I am proposing a new logo for Mastercard 
I like your perception; Not sure a corporate will add bitcoin kind of decentralized thing into their logo. Anything will be possible in corporate world for the sake of marketing so I am too optimistic about mastercard to add bitcoin in their logo. For sure this becomes a centralized again.
If that happens, then Bitcoin loses its uniqueness. And I'm not sure all BTC investors will continue to invest if BTC becomes centralized. For me, why do I want to invest in BTC because it is not centralized and it regulates the prices, buyers and sellers. No third party governs this or should it be. The more there is control, the BTC will be no different from fiat, which is eroded by inflation.
I think today having a bitcoin atm is widely spreading and some of them are now supported by the people and I think this is a good thing because some of the people today would like to withdraw their funds but the problem is the transaction fees I think this may cost 2-5 USD (just my thought) also just wondering how they make a transaction scanning a QR code or just manually typing the bitcoin address?. For sure this becomes a centralized again.
Mastercard called bitcoin unsuitable for payments due to its volatility and its transaction takes too much time said executive vice chair Mastercard Ann Cairns in an interview with MarketWatch https://www.marketwatch.com/story/mastercard-executive-bitcoin-is-too-volatile-to-be-part-of-its-network-11614245946
Exactly what I wrote a few pages before. Mastercard won't be able to use Bitcoin as a payment/value transfer method, even if they wanted to. You only have to look at the current transaction fees to understand why this cannot work. Mastercard will rely on a semi-decentralized cryptocurrency that is scalable. Which that is remains to be seen.
We don't know exactly how this will look like
i heard that visa did partnered with bitcoin before although i havent check what it looks but they might work the same because both visa and mastercard are credit and debit card providers . few months or years after this partnership with mastercard i think the next that will follow is american express and others if there are and/or if they havent yet and by the way nice logo tho op . its okay if they will not support all crypto but what important for us ia that they support the main coin and that is bitcoinDon't be naive. We still are not ready to use BTC in everyday life. It's very volatile. You need to read information carefully. MasterCard, Visa and other card providers are talking about adding "stablecoins onto its networks, and is working with central banks on their plans for digital currencies". There’s no word about BTC or Ethereum or some other beloved cryptocoins.
we will see what will develop this last quarter of this year. because thats their timeline when to implement about the inclusion of crypto. more then likely, it will be stablecoin here. not that hard to implement as compared to btc. or maybe bitcoin also, but if consumers will need to pay expensive fees, i dont think this will hit off in the market. i believe they will start with stablecoin..
Mastercard called bitcoin unsuitable for payments due to its volatility and its transaction takes too much time said executive vice chair Mastercard Ann Cairns in an interview with MarketWatch https://www.marketwatch.com/story/mastercard-executive-bitcoin-is-too-volatile-to-be-part-of-its-network-11614245946
We don't know exactly how this will look like
i heard that visa did partnered with bitcoin before although i havent check what it looks but they might work the same because both visa and mastercard are credit and debit card providers . few months or years after this partnership with mastercard i think the next that will follow is american express and others if there are and/or if they havent yet and by the way nice logo tho op . its okay if they will not support all crypto but what important for us ia that they support the main coin and that is bitcoin Two decades ago, credit cards were regarded as some of the most important technological innovations. So it is only natural that credit card providers such as Master are now trying to adopt new innovations such as cryptocurrency in their platforms. Cryptocurrency is the future of payment system, and those who adopt it at the earliest opportunity will reap the rewards in the future.
They will always improve their systems, but they need a competition that is why I wanted crypto to be not included in mastercard or visa since that would make them even better, and yes you may think that customers will be taking advantage of this situation and it will be great for all of us but without pain there is no glory so I hoped that there would be a third new company that would take crypto, make things a lot cheaper and nearly free, and banks would start working with them and the domination of mastercard and visa over the card world would be gone.Unfortunately that is not the case, they are going into crypto as well and they are going to keep dominating the world of transactions and take all the money. That type of situation where only a few companies control the whole market is never safe, it creates a big trouble for competition and I rather have much more competition divided equally to create better situation for customers.
To have a look at the effects of Mastercard integration we must differentiate the two major aspects of Bitcoin.
1) Bitcoin as a proof-of-value, inflation-proof, wealth preservation asset.
- Mastercard adopting & therefore certifying that BTC is a reliable method of payment (although in the report they say they only want to give people the choice) will only add to the solidity of its proposition for both institutions and retail investors.
2) Bitcoin as a monetary system - payment method.
- Enabling merchants to accept crypto payments will probably create a strong trend between businesses. I'm especially looking forward to Starbucks accepting BTC payments using Mastercard integration.
- This will affect the demand of BTC and therefore contribute to an increase in market price.
- I'm still wondering how they will deal with the transaction fees. Will they use Lightning Network? - that remains to be seen. They stated there is still a ton of work to be done.
1) Bitcoin as a proof-of-value, inflation-proof, wealth preservation asset.
- Mastercard adopting & therefore certifying that BTC is a reliable method of payment (although in the report they say they only want to give people the choice) will only add to the solidity of its proposition for both institutions and retail investors.
2) Bitcoin as a monetary system - payment method.
- Enabling merchants to accept crypto payments will probably create a strong trend between businesses. I'm especially looking forward to Starbucks accepting BTC payments using Mastercard integration.
- This will affect the demand of BTC and therefore contribute to an increase in market price.
- I'm still wondering how they will deal with the transaction fees. Will they use Lightning Network? - that remains to be seen. They stated there is still a ton of work to be done.
mastercard requirements and steps are correct for this, we are just waiting to be able to use mastercard for that. So I think Mastercard is completely in cryptocurrency and could be a payment option besides paypal. this is very interesting
Two decades ago, credit cards were regarded as some of the most important technological innovations. So it is only natural that credit card providers such as Master are now trying to adopt new innovations such as cryptocurrency in their platforms.
Cryptocurrency is the future of payment system, and those who adopt it at the earliest opportunity will reap the rewards in the future.
No doubt about crypto to be the future of payment and financial systems but only people who manage and secure the earliest accumulation will reap the reward in the future. I agree it will help to increase adoption but centralizing it would ruin the "not your keys not your coins" so it will going to be the same as what the banks are doing. I doubt people would buy from it if they knew that they are not in full control of their assets just like how they hold fiat.
Only those who practice using cards and banks would want to support it but I doubt if they ever know what it feels like when you hold your own money that you could send it in an instant without too much restrictions.
Well, that is still not taken away from you, it is just an option and there are some people who will pick that option.Only those who practice using cards and banks would want to support it but I doubt if they ever know what it feels like when you hold your own money that you could send it in an instant without too much restrictions.
I personally never believed in the "your keys your coins" type of deal because I never had that much money to begin with, I do not believe that I would be keeping my coins safer than Binance would for example, I rather trust Binance to keep my coins safe over myself, hence "my key my coin" doesn't really work for me at all, I do not trust myself more than mastercard or visa or binance or anything that big.
Hence I would pick mastercard and I would love to have a debit card that is filled with crypto currencies and I go to any place in the entire world and spend that debit card, and let's say I spend 60k dollars then I do not need any fiat in my account, I just have 5 bitcoin in there and 1 of them is taken away and mastercard pays that shop fiat while take away crypto from me. That way the entire whole world would be crypto accepting thanks to this. If you are afraid and don't want to use it, just don't use it? zzz
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You can purchase bitcoin with a credit card crypto's payment systems will be much more attractive if we buy bitcoin using a debit card or credit card mastercard. Bitcoin does not have these problems even if the transaction costs a certain amount through mastercard, visa card or any other means bitcoin can be purchased from the website. In some countries including the united states and canada, it is possible to make purchases through bitcoin in online transactions using bitcoin is as simple as sending a message on a regular e-mail or mobile phone. The need for mastercard is increasing crypto is becoming popular through paypal and mastercard.
mastercard requirements and steps are correct for this, we are just waiting to be able to use mastercard for that. So I think Mastercard is completely in cryptocurrency and could be a payment option besides paypal. this is very interesting
Two decades ago, credit cards were regarded as some of the most important technological innovations. So it is only natural that credit card providers such as Master are now trying to adopt new innovations such as cryptocurrency in their platforms. Cryptocurrency is the future of payment system, and those who adopt it at the earliest opportunity will reap the rewards in the future.
mastercard requirements and steps are correct for this, we are just waiting to be able to use mastercard for that. So I think Mastercard is completely in cryptocurrency and could be a payment option besides paypal. this is very interesting
Any news of adoption specially in the integration of crypto towards those traditional payment or banking system is really a great thing to read on.
This do signifies that recognition is really rising up even up to these years.How much more on upcoming years to come? Some do make out on issue
about for example on how paypal did really make or integrate bitcoin? it isnt really that on that direct side of things but well, its better than have nothing at all.
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