Bitcoin Forum

... you know you are doing something right!

http://www.coindesk.com/mastercard-seeks-level-playing-field-bitcoin-regulation/

Full Document: http://www.aph.gov.au/DocumentStore.ashx?id=76fd5a6f-dfdc-4c45-b998-752b97e09ebd&subId=301946

Meh , why they just don't admit that they see Bitcoin as a threat for them ;D Wester Union , now MasterCard ... looking forward to see what next

They already sort of admit that Bitcoin has the potential to overtake their service.

Large companies must know that they don't have to fight against new technologies.

There are already banks and other financial institutes who are researching the possibilities of the blockchain.

What would be the need for that, if bitcoin already has it?

The blockchain as is will be why bitcoin fails.

You can't do over a billion transaction a day as the btc network is now made up.

You would need a super computer from one central point handling that amount of transactions.

Look how slow the blockchain is now, and you would need thousands of times more transactions a day to compete globally with the big boys.

Sorry to burst your bubble but the decentralized blockchain is why bitcoin cannot do over a billion daily transactions, I don't think it can do 100 million let alone 1 billion.

It's a good idea but maybe blockchain 2 gets it right, a super computer farm in neutral nations protected by the UN.

Oh that's right, I read that in that crazy manifesto that reddit removed.

https://bitcointalk.org/index.php?topic=879726.0

See this post to understand why billions of transactions a day must be done on protected super computers and not a public block chain.

That post addresses the other fault with bitcoin, it's too hard for the POOR of the world to obtain. Sure the poor can get wallets, but they're empty, they need someone to send them btc, they cannot go to 3rd parties like coinbase or bitpay and acquire btc. So bitcoin is not addressing the needs of the majority, the poor of the world that cannot qualify to open accounts at paypal, bitpay and coinbase or banks.

Bitcoin needed to address THE POOR of the world and it ignored them.

Who benefits from bitcoin, MINERS initially and the poor could not mine, now what do you geeks think the poor can just get a wallet and coin magically appears in it? It will never be used for the poor because the poor cannot acquire bitcoin through bitpay or other coin providers and they can't mine. Satoshi failed in addressing the needs of the poor which a real new global currency MUST address.

So what, do you really think the poor will use bitcoin since the rich will just give the poor token btc?

The majority of the world is POOR and cannot use bitcoin nor acquire it.

The more I look at https://bitcointalk.org/index.php?topic=879726.0 the more I see what Bitcoin should have been, a way to give POOR instant money for food and digital stuff.

That why the Global Credit Fund could have 5 Billion wallets before bitcoin ever has 50 million, there's way more POOR people in the world than rich.

Bitcoin only fuels the greed of the rich, and it will never have 100M or 1 Billion transactions a day so it will never be a global currency.

Now that GCF idea, it could have 5 Billion poor people with phones downloading wallets all with their free credit already in it and then organizations can deliver FOOD to the poor and medical services and use those FREE CREDITS and the credits will have value since the richer people will figure out there's BILLIONS Of wallets all with this new currency in it.

You don't need a block chain with 8K slow nodes doing a proof of nothing to earn coins that only slows down volume transactions.

You need a new central TRUST NETWORK with no governmental or corporate control that is protected by the UN.

Like I said the more I read that historical manifesto the more I see the pure genius in it.

The more I look at bitcoin the more I see a vocal few manipulating it for greed.

Face it the transactions are SLOOOOOOOOOOOOOOOWW

The volume of a global currency would crush the btc network.

Btc wasn't designed so the poor could have coin easily.

Btc wasn't designed so anyone could get btc easily.

Btc appeals to a limited amount of wanna be rich geeks that are all herd mentality IMO

... not for me : http://btcaudio.tk/live/

being poor implies they have trouble getting their hands on any sort of asset, it being BTC or Dollar,  a new currency cannot change that,
they can be paid in BTC, but they will still be poor.

BTC does not solve the pollution problems either, oh noes, it is flawed.
It does not stop war! oh noes again, how flawed this system is and how egocentrical everyone contributing is!

So since when did we pretend that Bitcoin was going to solve all the world's problems? Yes I could see some philanthropist handing out cheap tablets with a Bitcoin wallet already loaded so they can participate more in the world market by selling services for cryptocurrencies, but Bitcoin is just one of many tools and I think you ignore the good that Bitcoin miners can do when they can donate a little more than 51 Bitcoin straight off their mining rig to an organization that helps kids orphaned by AIDS. http://bitcoinsforcharity.org/charities I've never bought the argument that "X isn't going to help with Y cause, so let's scrap it" like it's somehow a technology's fault that sometimes it doesn't get picked up and used by certain entities.

Hey mastercard life isn't fair. Don't expect your business to be either.

any parody on mastercard's famous priceless ads?

I am talking about Bitcoin if you didn't notice.

That's what made them thinking. But apart from that, they are only interested in the blockchain.

Doesn't not say they will use Bitcoin's blockchain, nothing prevents them from creating their own blockchain.

That would be fun to see!

every big company will notice sooner or later that they have to use bitcoin

In the future.

That will definitely happen. Pokerstars is also going to be accepting bitcoin soo enough,
Definitely a big step for bitcoin in payment processing.

Is this true? Where can I follow up that Pokerstars implementation? I think it's another big market for Bitcoin, lots of people plays Poker with real money there...

While Mastercard and other big companies have paid lobbyists to push their agenda, Bitcoin's advocates may not be so powerful. I am not sure what happened to the lobbyist firm that the Bitcoin Foundation hired earlier this year.
I hope that the government doesn't get swayed by all these statements made by Mastercard. It is easy to be, when there is nobody arguing on the other side!

https://www.youtube.com/watch?v=J_2lM55MYa4 [nsfw - probably]

Boy asks his date for a blowjob while he is walking her back home on her porch and is leaning on the intercom. It is a classic

Maybe Master Card should spend more time fighting the rampant CC fraud and less time talking about regulating others.
I've had to cancel my Master card account three times in the last two years due to security breaches from MC.

OMG, how can I miss such a thing like that!  ;D Thanks for sharing!

Wow, MC is jealous.
Too bad for them there is nothing that they can do.  ;)

Is this like the first time a credit card company cared about illegal goods and services, money laundering and terrorism and how it harms us in the history of our generation??

Priceless.

I just read this: http://forumserver.twoplustwo.com/29/news-views-gossip/pokerstars-bitcoin-1493115/

Interesting!

Obviously it shows that they do see it as a threat whether it translate to less earning or up to the extent of survival. But seriously is there really such a thing as a level playing field. If there is there won't be large corporations that monopolize certain field. Especially in our today's competitive business world.

You can't say that there is no level playing field just because a large corporation succeeds. Some companies have genuinely built up competitive advantages over a period of time. It is another matter that once they become large, they try to lobby governments and have regulations twisted in their favour.