You can fight the system ... and win more at the end.

hv_

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Quote from: aesma on October 23, 2016, 09:39:19 AM

Bank cards have one big advantage, it's not their security, but their guarantees. Claim you card was stolen and charges made by a thief are refunded.

With bitcoin, you're in charge of security. A blessing for some, a nightmare for others.

True. And banks do that because of love?

We morons pay for all those losers - due to nice insurance fees !!!!

aesma

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Bank cards have one big advantage, it's not their security, but their guarantees. Claim you card was stolen and charges made by a thief are refunded.

With bitcoin, you're in charge of security. A blessing for some, a nightmare for others.

streazight

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Quote from: newIndia on October 22, 2016, 10:56:37 AM

Quote from: Meuh6879 on October 22, 2016, 10:53:23 AM

https://bitcoin.fr/visa-b2b-connect-la-blockchain-privee-de-visa-inc/

I can not read french. But, VISA's blockchain is not a true blockchain. It is more of a shared DB with a centralized authority to tune it to meet their need.

Yes, that's it. It is centralized and offer no privacy in transactions. Imagine the path you will take as illustrated above, each path the transaction follows means more loss because exorbitant fee are been charged by the middle parties there. With bitcoin, you are free to go direct without any intervention.

hv_

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Quote from: clickerz on October 23, 2016, 07:52:53 AM

Quote from: ObscureBean on October 23, 2016, 01:22:06 AM

Well while Bitcoiners are busy hating and badmouthing anything and everything that doesn't adhere to their 'Bitcoin philosophy', banks are calmly looking for ways to integrate the blockchain tech into their design, completely oblivious to the hate. The blockchain tech that Satoshi created is bigger than us, it's bigger than Bitcoin. Why not let them do their thing while we do ours and let the people decide for themselves which one they prefer?

But I think bitcoin will win in the long run as more people are becoming aware of it.While banks are adopting it in their system,still the profits goes to them in terms of charges etc. People are looking a system which is cheaper or value for their money.

Yes and you give good reason to keep fees low and system unlimited + open to all beeing unpoltical as much as possible.

clickerz

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Quote from: ObscureBean on October 23, 2016, 01:22:06 AM

Well while Bitcoiners are busy hating and badmouthing anything and everything that doesn't adhere to their 'Bitcoin philosophy', banks are calmly looking for ways to integrate the blockchain tech into their design, completely oblivious to the hate. The blockchain tech that Satoshi created is bigger than us, it's bigger than Bitcoin. Why not let them do their thing while we do ours and let the people decide for themselves which one they prefer?

But I think bitcoin will win in the long run as more people are becoming aware of it.While banks are adopting it in their system,still the profits goes to them in terms of charges etc. People are looking a system which is cheaper or value for their money.

aso118

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Quote from: DooMAD on October 23, 2016, 07:09:28 AM

Quote from: BitcoinSupremo on October 22, 2016, 10:56:57 AM

a picture speaks more than a thousand words.

Indeed. If there were a more succinct argument for why card companies and banks experimenting with blockchain technology is a complete waste of their time, then I haven't seen it. This image sums it up perfectly. The middlemen are pointless. By drawing attention to a more efficient system, they only hasten their own demise.

They are just middlemen. They are inefficient. They are not required.

The middlemen are actually using blockchain to make more efficient systems. If the blockchain makes stock settlement and delivery faster, then nothing like it. Of course, banks' core businesses which involve money transfer are going to be negatively affected by the technology.

~Bitcoin~

legendary

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Whatever that will come from visa and banks in the name of blockchain will be centralized and controlled by few people for sure and i see this visa blockchain not more than that.

They are trying to adopt blockchain tech however they will fail to get good community support, as who gonna love centralized platform with bank attached and all of the transaction getting checked/ verified by few hands before getting processed.

Nice picture demonstrating difference between visa blockchain and bitcoin blockchain.

DooMAD

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Quote from: BitcoinSupremo on October 22, 2016, 10:56:57 AM

a picture speaks more than a thousand words.

Indeed. If there were a more succinct argument for why card companies and banks experimenting with blockchain technology is a complete waste of their time, then I haven't seen it. This image sums it up perfectly. The middlemen are pointless. By drawing attention to a more efficient system, they only hasten their own demise.

They are just middlemen. They are inefficient. They are not required.

hv_

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Quote from: Meuh6879 on October 22, 2016, 10:53:23 AM

https://bitcoin.fr/visa-b2b-connect-la-blockchain-privee-de-visa-inc/

they are already dead, they did not know it yet.
https://www.youtube.com/watch?v=po77bJk1DdI

You can replace Visa with other stuff like SWIFT, ACI and even BankBlockchainhyperledger....

But still you sound a bit philosophical: how comes a dead one knows anything?

Grin

JeffBrad12

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Quote from: Meuh6879 on October 22, 2016, 10:53:23 AM

https://bitcoin.fr/visa-b2b-connect-la-blockchain-privee-de-visa-inc/

they are already dead, they did not know it yet.
https://www.youtube.com/watch?v=po77bJk1DdI

They don't know about that, i thought the visa will died tommorow, seems like that's not different with the old system. I think just rebranding in their title about the system. that's very unaffective way to try for the companies comparing with using bitcoin.

ObscureBean

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Well while Bitcoiners are busy hating and badmouthing anything and everything that doesn't adhere to their 'Bitcoin philosophy', banks are calmly looking for ways to integrate the blockchain tech into their design, completely oblivious to the hate. The blockchain tech that Satoshi created is bigger than us, it's bigger than Bitcoin. Why not let them do their thing while we do ours and let the people decide for themselves which one they prefer?

xuan87

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This is exactly why i like bitcoin, it eliminates the unused party so our transaction become more efficient, however I still think bitcoin is not yet ready to be implemented, most of the people still hasn't aware of bitcoin, but when most of the people recognize it, then we will change the system

crazyivan

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Well it all comes down to security and usability. The later is a big time issue. Imagine your grandparents using Bitcoin??? BTC s been around for a long time and UI has not been simplified at all. This must change before things start developing further.

thejaytiesto

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We will see viable methods like this funcitoning once we have lightning network and sidechains, until then, we are going to be seeing all those dodgy alt blockchains that just dont cut it.

MONKEYJUNK

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Quote from: calkob on October 22, 2016, 02:27:13 PM

Your right they are already dead, but the zombie banks have been dead for years and are still here, i am worried that we are in a zombie bank Apocalypse ...... Tongue

And well, we can see people talking about make bitcoin banks...

Truth is: people need security and always will pay for it.

calkob

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Your right they are already dead, but the zombie banks have been dead for years and are still here, i am worried that we are in a zombie bank Apocalypse ...... Tongue

Kprawn

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Quote from: newIndia on October 22, 2016, 10:56:37 AM

Quote from: Meuh6879 on October 22, 2016, 10:53:23 AM

https://bitcoin.fr/visa-b2b-connect-la-blockchain-privee-de-visa-inc/

I can not read french. But, VISA's blockchain is not a true blockchain. It is more of a shared DB with a centralized authority to tune it to meet their need.

You do not need to understand French to see what they saying... The middleman {banks} are being eliminated as a third party between

two parties, and this is the disruptive force that Bitcoin is bringing to the party. Grin

... One of these days, we can eliminate most of the

third parties that are currently in control of our finances. Wink

BitcoinSupremo

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Like they say in such situations , well done first and second a picture speaks more than a thousand words.

Yes you can win much more in the end, you will not pay any currency conversion with bitcoin, with VISA in most cases will happen, the fee will be extra small with bitcoin , with visa or bank is not small (as far as I know for a transfer up to 10.000 Euro in EUrope is 25 Euro fee). Businesses just have to give more credit to bitcoin and they will see their earnings increasing.

newIndia

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Quote from: Meuh6879 on October 22, 2016, 10:53:23 AM

https://bitcoin.fr/visa-b2b-connect-la-blockchain-privee-de-visa-inc/

I can not read french. But, VISA's blockchain is not a true blockchain. It is more of a shared DB with a centralized authority to tune it to meet their need.

Meuh6879

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Activity: 1512

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https://bitcoin.fr/visa-b2b-connect-la-blockchain-privee-de-visa-inc/

they are already dead, they did not know it yet.
https://www.youtube.com/watch?v=po77bJk1DdI

Topic: You can fight the system ... and win more at the end. (Read 773 times)