Topic: MasterCard Exec: ‘Bitcoin Doesn't Really Work in Today's Environment’ (Read 2793 times)
October 20, 2015, 06:34:54 PM
Well that happened with paypal ,now they lead the market but in the past they had to fight to stay online.I agree bitcoin is just only starting our community is growing raising and talking about bitcoin with others.
October 20, 2015, 10:34:20 AM
I've got to say, after using contactless payment for a while, I really can't believe how convenient that is, and compare that to using QR codes n what not for Bitcoin payment, then waiting for confirmations, it really is a world of difference. Obviously, we can always argue that banks are the middle men that make the contactless payments work so seemlessly and they can go down as well as take your money whenever you want. For most use cases however, I really can't advise using bitcoin as a method of payment for everyday use. Transferring larger amounts may have some merits as my bank limits me to a certain amount of cash withdrawal per day, and bank transfer usually goes through the scam and AML checks.
If banks integrate the bitcoin into their banking system, then you can also use contactless payments.
October 20, 2015, 02:49:23 AM
it work far better than their scam with high fee, there is nothing mastercard can do that bitcoin can't do better
as i said many time, poeple are only accustomed more to credit card now, how much time has passed between cash and being accustomed to credit card?
the same time will pass for bitcoin
as i said many time, poeple are only accustomed more to credit card now, how much time has passed between cash and being accustomed to credit card?
the same time will pass for bitcoin
October 19, 2015, 07:40:26 PM
I've got to say, after using contactless payment for a while, I really can't believe how convenient that is, and compare that to using QR codes n what not for Bitcoin payment, then waiting for confirmations, it really is a world of difference. Obviously, we can always argue that banks are the middle men that make the contactless payments work so seemlessly and they can go down as well as take your money whenever you want. For most use cases however, I really can't advise using bitcoin as a method of payment for everyday use. Transferring larger amounts may have some merits as my bank limits me to a certain amount of cash withdrawal per day, and bank transfer usually goes through the scam and AML checks.
October 19, 2015, 05:57:25 PM
Whatever they say, it won't matter.
Bitcoin will win in the end and catch really great shares from these guys.
Bitcoin will win in the end and catch really great shares from these guys.
It had made it already ,some people avoiding their cards.. they keep with their market but some users just stoped ,and more will do as they know bitcoin and what it can offer,and well the image of pyramid or other scam project get out of people mind.
October 19, 2015, 12:20:02 PM
haha MasterCar two cents promo
Very fast transactions
October 19, 2015, 07:46:29 AM
Whatever they say, it won't matter.
Bitcoin will win in the end and catch really great shares from these guys.
Bitcoin will win in the end and catch really great shares from these guys.
October 19, 2015, 03:25:03 AM
I partly agree on that since it is pretty clear that it takes several minutes before a certain transaction be confirmed in the network then be available for spending. That is quite a hassle for users who are finding a way to have faster transactions even on the go. Bitcoin fulfills the mobility problem, but the speed? I think not. The only edge of bitcoin is that it is decentralized and is secure, and I like that more than having a fast tx on the go but controlled by greedy capitalists.
October 19, 2015, 03:17:06 AM
That is what it looks like but everyday a new project is getting live and have their costumers soo its raising slowing now.
Those new start-up companies will attract some new users of bitcoin. The more user of bitcoin, the higher the value of bitcon.
October 18, 2015, 02:21:20 PM
That is what it looks like but everyday a new project is getting live and have their costumers soo its raising slowing now.
October 15, 2015, 03:03:25 AM
Credit cards and debits mooves much more money then atm be sure of that.Bitcoin has several projects becoming live every day,we have already and exchange that allow to trade convert instant the money into other crypto,and we will get soon the market to sell and buy ,openbazar soo its a question of time to bitcoin is full developed ,bitcoin has only 6 years and a long road on the way...
Bitcoin is getting momentum slowly. There are more usage of bitcoin now. The price is also rising slowly.
October 14, 2015, 03:37:26 PM
Credit cards and debits mooves much more money then atm be sure of that.Bitcoin has several projects becoming live every day,we have already and exchange that allow to trade convert instant the money into other crypto,and we will get soon the market to sell and buy ,openbazar soo its a question of time to bitcoin is full developed ,bitcoin has only 6 years and a long road on the way...
October 14, 2015, 02:27:05 AM
MasterCard have global network with so many bank ATM machines, that any new operation can be costly, and also very difficult to implement 
ATM machines belong to banks, not MasterCard 
ATM machines belong to banks, not MasterCard October 13, 2015, 06:42:25 PM
I don't think he has compared everything on overall wider scale. Yeah he does have a point to focus on some areas where bitcoin will find it tough to compete but if he's looking at different angle like for instance cross border payment, that is where bitcoin will stand out. At least 30 to 40 percent taken from existing market share already means a lot.
October 13, 2015, 05:16:05 PM
Bitcoin is affecting banks and some companies but well that wont be enought to make the companies a long time present in the market,bitcoin is new and may become the most used currency coin worlwide besides fiat.
October 12, 2015, 09:22:37 AM
Mastercard wont adopt bitcoin ,they have the credit card meaning you can spend something you dont have ,the bill comes next month.With bitcoin these at the moment is impossible and cant happen since is decentralized,soo bitcoin to avoid big fees and your name exposed on their database will be a new market ,and mastercad and visa will keep their business of credit cards,with less people using their cards,as people know bitcoin ,but they will stand alive .
You can also borrow bitcoin from (bitcoin) banks to spend then repay it back. There is no difference to fiat.
October 12, 2015, 07:38:47 AM
Mastercard wont adopt bitcoin ,they have the credit card meaning you can spend something you dont have ,the bill comes next month.With bitcoin these at the moment is impossible and cant happen since is decentralized,soo bitcoin to avoid big fees and your name exposed on their database will be a new market ,and mastercad and visa will keep their business of credit cards,with less people using their cards,as people know bitcoin ,but they will stand alive .
October 12, 2015, 04:27:23 AM
Guy from Master Card said something,that is all,what is to compare btc with mastercard,if MasterCard want to integrate btc it is fine if not i dont care
They have to integrate bitcoin in the future if mastercard wants to stay in business.
October 09, 2015, 05:22:45 PM
Guy from Master Card said something,that is all,what is to compare btc with mastercard,if MasterCard want to integrate btc it is fine if not i dont care
October 09, 2015, 10:28:11 AM
What we lack in tps,
mastercards tps is actually less then you think. this is because their databases are separate. not only based on currency but also country.
now if we were to say BTC was for america, feathercoin for UK, litecoin for europe and another 200 coins for each country of the world.
then you will see that the total tps potential of blockchain technology vs individual mastercard databases are the same. if not blockchain tech surpasses mastercard.
That's exactly what would happen with sidechains.
I don't know about the rest o the community, but I'm pretty "happy" with 2 TPS for now.
side chains does not help anything.. a tx on bitcoin with a 32mb limit is the same as 32 sidechain coins of 1mb limit..
the only reason the sidechains are even being considered is by the altcoin army trying to get they penny per coin alts to suddenly be worth $200+.
bitcoin itself can handle more tx's but its the miners that want to limit the dataload out of greed,
its actually 7tps and if allowed to do 32mb per block, that would be 224tx per second potential.
bitcoin does not have to overtake mastercards dominance of 1200tps. even if 10% of the world used bitcoin compared to fiat/mastercard, bitcoin will revolutionize the world
Jump to: