Time to pack it up

[Amph]

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...

[jayce]

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.

[pooya87]

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 .

[gogxmagog]

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 

[Unbelive]

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

[jayce]

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

[Light]

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.

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?

[AtheistAKASaneBrain]

Meanwhile in real life:

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

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.

[tss]

other than being used for payments mastercard/visa and bitcoin have nothing in common.  who cares if they dont like it.  its not going anywhere.

[Xenoph0bia]

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

Yes of course the competitors of bitcoin will attack it as the competitors views bitcoin as a threat to their potential customers and have a fear of loosing them as more and more people will start adopting bitcoin and doing a negative publicity about the competitor is not a new thing.

[pereira4]

other than being used for payments mastercard/visa and bitcoin have nothing in common.  who cares if they dont like it.  its not going anywhere.

In the future Bitcoin will be a direct competitor with mastercard/visa because it can steal traffic from them. Why would you pay with a credit card when you can do it with Bitcoin at lower fees and worldwide.

[hunnaryb]

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.

The fear is already started for the mastercard as they have fear of loosing their customers to the bitcoins and I believe that if the competitor is saying bad about his competitor then the the product (bitcoin) is on the safe and right path and the future will take care of the rest.

[ayesha201006]

Excellent.  I can hear them quaking in their boots.  Most people don't realize just how expensive it is to use credit cards.  IF they did then the cards would go out of business overnight.

[ticoti]

Mastercard has always attacked bitcoin, but it is obvious,if bitcoin succeed they would lose a lot of money

[Dotakels]

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.

Yeah because bitcoin will take over MasterPay, Paypal and other method that you can use. Because bitcoin is NOW the easiest way to transact a digital money.

[Amph]

other than being used for payments mastercard/visa and bitcoin have nothing in common.  who cares if they dont like it.  its not going anywhere.

In the future Bitcoin will be a direct competitor with mastercard/visa because it can steal traffic from them. Why would you pay with a credit card when you can do it with Bitcoin at lower fees and worldwide.

not only lower fees, but lower general cost, with bitcoin you don't anything to sustain your wallet, with master card you pay just because you're holding their credit card/debit card or whatever it is

not to mention that bitcoin is a global currency with master card and visa you need to add additional fee for conversion from one fiat to another

this two thing alone should encourage people to adopt bitcoin, there is only the security issue left..

[amiryaqot]

other than being used for payments mastercard/visa and bitcoin have nothing in common.  who cares if they dont like it.  its not going anywhere.

In the future Bitcoin will be a direct competitor with mastercard/visa because it can steal traffic from them. Why would you pay with a credit card when you can do it with Bitcoin at lower fees and worldwide.

not only lower fees, but lower general cost, with bitcoin you don't anything to sustain your wallet, with master card you pay just because you're holding their credit card/debit card or whatever it is

not to mention that bitcoin is a global currency with master card and visa you need to add additional fee for conversion from one fiat to another

this two thing alone should encourage people to adopt bitcoin, there is only the security issue left..

Bitcoin is more than a currency with it's innovation and revolutionary feature which gives freedom of use without any limitation all other oldies fiat currency method has limitation, Bitcoin is the best in all field when go to compare it with old payment method so there is Bitcoin has advantage with bright future.

[crazyivan]

Hehe, Mastercard can cry more. Bitcoin is the future. They should adapt or step aside.

[bornil267645]

Well the article is a total sound of desperation. It seems a like a desperate way of trying to keep their customers. LOL

[wearepoor]

Well the article is a total sound of desperation. It seems a like a desperate way of trying to keep their customers. LOL

Yes they are scared of loosing their customers and that is the reason why they are commenting negative regarding bitcoin. As more and more people are getting involved into the use of bitcoin it is a threat to mastercard's customers and that is the reason they are yelling loud at bitcoin