This makes obvious sense for WU but i thought they would be too stuck in their ways with admin inertia to jump on this wagon. It must be the old pioneering spirit of the railroad coming out.
The BIG win that WU could achieve here is to use bitcoin network as their backbone for transferring payments around and do away with their legacy infrastructure. Their WU affiliates in every office all over the world now only needs a bitcoin enabled PC running to send/receive payments.
WU would become the p2p fiat exchange for the masses with all their installed infrastructure ... and oh yeah, if you want to take buy/sell bitcoin from local WU office can do that too.
These guys know exactly what needs to be done to make this happen on global scale tomorrow.
Good Luck to them ... they are one company that has stuck it out against the banking elite in the payments space for over a century.
Topic: Western Union to begin accepting Bitcoin (WSJ) - page 3. (Read 8128 times)
Doesn't sound like that to me. Plus that would be silly. Why ever not just use Bitcoin?
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The company is looking at the use of digital currencies like Bitcoin as well as the role
Corporations like cost certainty, there isn't with bitcoin. I see them going the Canadian Mint route and developing their own cryptocoin transfer service they proclaim as 'new and innovative' but it will come with heaps of identification documents and transfer limits.
correct me if im wrong but they didnt mention bitcoin by name and they could mean dwolla or paypal etc. its far from what the topic says.
Doesn't sound like that to me. Plus that would be silly. Why ever not just use Bitcoin?
From the press release it seems WU wants to create their own digital currency not accept bitcoin. I wouldn't use WU for anything they hold even $200 transfers these days
The new CEO obviously seeks to sweep out the cobwebs...more like take a high-powered grenade launcher to the cobwebs.
So what about PayPal? They're as hampered by fiat as anyone. Market cap is higher, though. Maybe when BTC reaches $800 they will also decide not to fight the phantom force but to join it.
So what about PayPal? They're as hampered by fiat as anyone. Market cap is higher, though. Maybe when BTC reaches $800 they will also decide not to fight the phantom force but to join it.
This is very, very big news. It is for real and it means that Western Union is not stupid. They have very smart people in charge. They can benefit hugely by adding Bitcoin, and lose greatly if they don't. This is a brilliant move and takes Bitcoin to another level.
Obviously it's still in early stages but it makes too much sense for them to not do this.
Obviously it's still in early stages but it makes too much sense for them to not do this.
What exactly does it mean for a payment transfer service like WU to "accept" bitcoins?
Are they going to be just another exchanger, but a uber big one?
Are they going to be just another exchanger, but a uber big one?
yep, that seems to be what is happening.
Dude, LOOOL.
Why oh why won't that $10k wire to MTGOX arrive already.
What exactly does it mean for a payment transfer service like WU to "accept" bitcoins?
Are they going to be just another exchanger, but a uber big one?
Are they going to be just another exchanger, but a uber big one?
yep, that seems to be what is happening.
What exactly does it mean for a payment transfer service like WU to "accept" bitcoins?
Are they going to be just another exchanger, but a uber big one?
Are they going to be just another exchanger, but a uber big one?
For the record, it appears Wall Street likes their decision.
http://finance.yahoo.com/q?s=wu&ql=1
Not hugely up, but if the announcement was "garbage" in their eyes it would be down.
http://finance.yahoo.com/q?s=wu&ql=1
Not hugely up, but if the announcement was "garbage" in their eyes it would be down.
And that is what will finally break Bitcoin into mainstream. If there is money to be made, in time Wall Street will catch it. They are not stupid. Luckily we have just been even faster and because of that most of us will be filthy rich if we just play our cards right.
For the record, it appears Wall Street likes their decision.
http://finance.yahoo.com/q?s=wu&ql=1
Not hugely up, but if the announcement was "garbage" in their eyes it would be down.
http://finance.yahoo.com/q?s=wu&ql=1
Not hugely up, but if the announcement was "garbage" in their eyes it would be down.
I'm shorting WU instead.
I'm a WU shareholder. I think it will be very profitable for them to take business from BitInstant.
I agree. They already have a network of offices and locales all over the world. If all they do is charge 1% either way for transfers to and from BTC, they're looking at pretty significant revenues right there.
I'm shorting WU instead.
I'm a WU shareholder. I think it will be very profitable for them to take business from BitInstant.
Wow. Unless WU comes out in the next few hours to deny this, this will be huge!
Large corporations don't have a stellar track record when it comes to that, I'm afraid.
Large corporations like WU can not change rapidly. They have the legal, administrative... etc. to deal with.
don't forget the biggest obstacle; overhead.
Large corporations don't have a stellar track record when it comes to that, I'm afraid.
Large corporations like WU can not change rapidly. They have the legal, administrative... etc. to deal with.
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Ok, just got confirmation from multiple sources via email and twitter. They are looking to develop partnerships, so its a go. I'll update the thread again Cheesy
lebing, would you post the emails and tweets here for us?its all in here
http://www.reddit.com/r/Bitcoin/comments/1bi8q3/western_union_may_offer_digital_currency_services/
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Ok, just got confirmation from multiple sources via email and twitter. They are looking to develop partnerships, so its a go. I'll update the thread again Cheesy
lebing, would you post the emails and tweets here for us? Jump to: