Bitcoin Forum

Here we go again!  This is exactly why we need bitcoin!

"Paysafe Group, the parent company of NETELLER and Skrill, sent an email to its customers revealing that it will suspend the popular prepaid Mastercard service in more than 100 countries around the world Nov. 25."


https://www.pokernews.com/news/2016/11/neteller-skrill-prepaid-mastercard-only-available-in-sepa-26423.htm

Many don't realize, but its small news like this that drives up the price. Speculation is one thing, but this introduces actual buying demand that makes the price rise.

Does this refer to Netellers own Prepaid card ? How is this any good though? It again doesn't really mean anything for bitcoin. There are still other methods to pay, bitcoin being just one of them.

Paysafe group is a big company and I'm pretty sure that there'll be plenty of users affected.
Since, the way I see it, users not from SEPA countries won't be able to use their skrill mastercard at all.
That's like over a hundred countries suddenly having useless skrill cards.
That's quite a big deal especially if one needs something to use for offline transactions as well do atm withdrawals.
It could help bitcoin since users could use it instead because there are plenty of bitcoin debit cards one could use. Plus,

There aren't too many alternatives....And, considering the fact that the number of viable options just keep decreasing, it adds a bit more legitimacy to the need for a regulatory free means of engaging in transactions associated with our poker accounts.

But with master card we can easily buy things though, there is no need to get your walllet address everywhere to scan it, mastercard will be bring everything easier. I think it's price will skyrocketing later but how can government agree to this thing? How can they make it available to most of developed country? That is the real problem

Another small and indirect but nonetheless victory for Bitcoin! It might bring more users to bitcoin and effectively increase demand, then price will follow.
But there is also other side to it - bitcoin might get labelled as alternative payment method used by gamblers, dark market users and tax evaders.

This news is a perfect reason why we need alternative currencies like bitcoin as companies can "change" the terms & conditions anytime they like. This will not happen with bitcoin and you do not need to verify yourself. Now you can only use NETELLER, Skill Prepaid Mastercard in Europe. Funds are not lost but it is a hasle when companies change their rules as and when they like.

This is probably going to be the biggest issue for affected bettors following the change in service. I wonder if the Neteller virtual debit card will be cancelled as well because if it's not there will still be a possible workaround this situation like people exchanging balances between different payments processors in order to avoid withdrawing the funds to their bank accounts. Perhaps now is the time to jump on the Bitcoin bandwagon and laundry the money through a Bitcoin exchange site and withdraw the cash via a Bitcoin debit card so that the government wouldn't know you have been gambling.

That label has already been given to Bitcoin, whether it is deserved or not.
In any case, increased adoption is desirable - even if it from gamblers or tax evaders.

Markets are always efficient. The countries that try and tell people what they can and cannot do with their money always fail in the end.

wow that's a great big news markets are always efficient like before. thats why we need more altcoins right now im using doge coin when im gambling next week im planning to trade again my bitcoins to doge coin . bytheway this is a great news for bitcoins community . cheers mate :)

Bitcoin cards are not restricted in most of the countries like these neteller and skrill cards. May be few of the hardcore gamblers from those countries which are not in the list of their supported country may move towards bitcoin which can be really nice for bitcoin adoption.  ;)

People often user neteller/skrill because you can buy the cards in cash in these countries. I think Bitcoin is optimal to replace it.

I don't understand their logic. If it is such a popular payment method and they take it away then that will hurt them.
Why would they want to hurt themselves ? I am all for it. Let them cancel everything who cares. We have bitcoin they can have their crap.

I'm pretty sure it's due to gambling regulations.  It's going to hit Canada pretty good.  I know that there were droves of poker players who moved to Canada from the United States after the Unlawful Internet Gambling Enforcement Act (UIGEA).  They just took another hard hit....All this regulation stuff is just moving more players toward bitcoin.  And poker is a large market!

It definitely does add demand. It's so annoying that these companies do this, I mean
what do they think their overpriced service is actually used for? I can't see people going
to big extremes to get a prepaid to go get groceries etc. Its clearly used for gambling or
other ways to circumvent the system in the most part.

Lol, Neteller and skrill was basically the same as any other payment processor except that they had a prepaid mastercard service. Whats the point of using them anymore when you can use others like Payeer?

Or better yet, these people should consider switching to BTC. About time.

Because on some countries, Neteller and skill are the only way to turn cash into a debit card. They sell prepaid cards.

If we replace that with Bitcoin ATM's, there we go :)