Time to pack it up - page 3. | Bitcointalksearch.org

AtheistAKASaneBrain

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Meanwhile in real life:

https://blog.xapo.com/announcing-xapos-advisory-board/

Quote

Dee Hock is the founder of Visa, and is responsible for effectively creating payment systems as we know them today. “Bitcoin represents not only the future of payments but also the future of governance,” Mr. Hock said. “We live in the 21st century but are still using command and control organizational structures from the 16th century. Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot. Like the Internet, Bitcoin is not owned or controlled by any one entity, so it presents incredible opportunities for new levels of efficiency and transparency in financial transactions.”

That's right. Keep dumping your cheap coins, the mastercard guy will eventually backpeddle and get on Bitcoin when you already sold, just like everyone else.

Light

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Circa 2010

While I do agree that most of what their arguing isn't particularly well substantiated nor does it seem odd given that Bitcoin is basically a competitor to them (unless somehow and some odd reason they'd want to integrate it) I found this quote to be rather interesting.

Quote

MasterCard goes on to say digital currency transaction costs may currently be lower than those involved in traditional payments methods, but this is because digital currency service providers don’t currently bear the cost of complying with consumer protection and anti-money laundering laws.

Would consumer protection and AML really lead to increased cost (i.e. by business charging more) - or is that just BS from Mastercard?

jayce

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Quote from: Unbelive on June 09, 2015, 05:04:32 AM

Quote from: hector3115 on June 08, 2015, 04:18:51 PM

MasterCard has just announced that Bitcoin is no good, last one to leave turn out the lights. LOL.

http://www.coindesk.com/mastercard-digital-currencys-risks-outweigh-the-benefits/

So what is then with Bit-x Bitcoin debit card? https://bitcointalksearch.org/topic/ann-bitcoin-debit-card-bit-xcom-anonymous-or-named-low-fees-1006153

I thought they are connected to MasterCard. Master card logo is printed on their Bitcoin debit card. Not in that ANN, but on the one i had in my hands.

lol
And we don't know what will be happened to Bit-x, since the Master Card logo seem so suitable with the signature.

Unbelive

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Quote from: hector3115 on June 08, 2015, 04:18:51 PM

MasterCard has just announced that Bitcoin is no good, last one to leave turn out the lights. LOL.

http://www.coindesk.com/mastercard-digital-currencys-risks-outweigh-the-benefits/

So what is then with Bit-x Bitcoin debit card? https://bitcointalksearch.org/topic/ann-bitcoin-debit-card-bit-xcom-anonymous-or-named-low-fees-1006153

I thought they are connected to MasterCard. Master card logo is printed on their Bitcoin debit card. Not in that ANN, but on the one i had in my hands.

gogxmagog

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Ad maiora!

What bryant.coleman said. Every so often, for years now MC sends a little FUD out there, they probably have a guy copy-writing "news releases" just one of his tasks along with penning promoted tweets and getting the middle managers coffee

pooya87

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Quote from: hector3115 on June 08, 2015, 04:18:51 PM

MasterCard has just announced that Bitcoin is no good, last one to leave turn out the lights. LOL.

http://www.coindesk.com/mastercard-digital-currencys-risks-outweigh-the-benefits/

lets talk about how many credit cards are being hacked! story from CNN

currently over 90% of credit card readers currently use the same password. with having this password an attacker can gain complete control of a store's credit card readers, potentially allowing them to hack into the machines and steal customers' payment data .

jayce

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If the competitors said something bad to Bitcoin, it means they was lost and couldn't do anything to facing it. Just wait and let's see how bitcoin developing.

Amph

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Quote from: lemipawa on June 08, 2015, 04:22:28 PM

Huh! LOL. Of course MasterCard would attack Bitcoin, Bitcoin is competing with them, and they don't want to lose customers to Bitcoin.

they are starting to have fear apparently, this is good, because it mean that bitcoin is growing above the niche market that was sorrounding it until now, the more fear they will have the more chances that many other will join bitcoin

i believe that Visa is thinking the same...

fryarminer

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Quote

and that digital currencies are far more susceptible to hacking attacks.

MasterCard has no idea what it's talking about.

Kakmakr

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They will bash Bitcoin, because they opened up a competing technology. I think it is called MasterPay.
They are in the attack phase now, because the ignore strategy did not work. We are not going away, and we will disrupt their business model. Uhmmm we already did, for them to come up with this new instant payment system.

ebliever

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The really stunning thing would be if they had admitted anything good about bitcoin. As it is their comments smack of desperation. They can see the handwriting on the wall.

bryant.coleman

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Nothing new here, at least for me. These Mastercard guys have been bad mouthing on Bitcoin for the last 2-3 years or so, and I don't think that any of us take them seriously anymore. In my honest and humble opinion, first, they should protect their marketshare against Visa and American Express rather than bothering about BTC.

MicroGuy

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Quote from: hector3115 on June 08, 2015, 04:18:51 PM

MasterCard has just announced that Bitcoin is no good, last one to leave turn out the lights. LOL.

http://www.coindesk.com/mastercard-digital-currencys-risks-outweigh-the-benefits/

Mastercard has convinced me that freedom from a greedy intermediary is not good for me. Guess it's time to give up these grand ideas.

twister

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A competitor of Bitcoin saying it's no good, not surprising at all. It's good though that they bothered enough to give it a review. However, I do think that in time the Transaction fee might increase as more restrictions are put in and maybe miners will ask to increase the Tx fees as the mining becomes less profitable after halvening.

Fernandez

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Bitcoin is not much good for payments so this doesn't bother me. I have always looked at it as some form of gold which is easy to keep and transfer.

freeyourmind

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I don't think it's a big surprise that Mastercard would take a stance against Bitcoin. It fits the normal corporate model to reject something new out of fear of losing existing business. Adopting a model with cheaper transactions would cannibalize some of the revenues they currently make.

lihuajkl

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The global market is changing. New technology and business module are coming out every day. If you don't act, you will be left behind forever.

Bitcoinpro

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Quote from: Beliathon on June 08, 2015, 07:32:06 PM

Quote from: hector3115 on June 08, 2015, 04:18:51 PM

MasterCard has just announced that Bitcoin is no good

In other news, bicycle messengers in the early 90s declared email to be a useless nerd tool that would never catch on.

The industry survives today, barely.

delivering miners

Beliathon

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https://youtu.be/PZm8TTLR2NU

Quote from: hector3115 on June 08, 2015, 04:18:51 PM

MasterCard has just announced that Bitcoin is no good

In other news, bicycle messengers in the early 90s declared email to be a useless nerd tool that would never catch on.

The industry survives today, barely.

PenguinFire

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That Darn Cat

Quote from: sdmathis on June 08, 2015, 06:47:35 PM

Quote from: lemipawa on June 08, 2015, 04:22:28 PM

Huh! LOL. Of course MasterCard would attack Bitcoin, Bitcoin is competing with them, and they don't want to lose customers to Bitcoin.

They don't have to be a competitor. MasterCard is nothing more than a payment processor. Bitcoin could easily fit their business model. Just imagine. MasterCard could be a pioneer and in the process, surpass VISA. Are you listening MasterCard?

That would require thinking more than ONE month into the future.

Topic: Time to pack it up - page 3. (Read 4192 times)