MasterCard Exec: ‘Bitcoin Doesn't Really Work in Today's Environment’

[Q7]

I don't think he has compared everything on overall wider scale. Yeah he does have a point to focus on some areas where bitcoin will find it tough to compete but if he's looking at different angle like for instance cross border payment, that is where bitcoin will stand out. At least 30 to 40 percent taken from existing market share already means a lot.

[HeroCat]

MasterCard have global network with so many bank ATM machines, that any new operation can be costly, and also very difficult to implement  ATM machines belong to banks, not MasterCard 

[knowhow]

Credit cards and debits mooves much more money then atm be sure of that.Bitcoin has several projects becoming live every day,we have already and exchange that allow to trade convert instant the money into other crypto,and we will get soon the market to sell and buy ,openbazar soo its a question of time to bitcoin is full developed ,bitcoin has only 6 years and a long road on the way...

[RKing]

Credit cards and debits mooves much more money then atm be sure of that.Bitcoin has several projects becoming live every day,we have already and exchange that allow to trade convert instant the money into other crypto,and we will get soon the market to sell and buy ,openbazar soo its a question of time to bitcoin is full developed ,bitcoin has only 6 years and a long road on the way...

Bitcoin is getting momentum slowly. There are more usage of bitcoin now. The price is also rising slowly.

[knowhow]

That is what it looks like but everyday a new project is getting live and have their costumers soo its raising slowing now.

[RKing]

That is what it looks like but everyday a new project is getting live and have their costumers soo its raising slowing now.

Those new start-up companies will attract some new users of bitcoin. The more user of bitcoin, the higher the value of bitcon.

[dothebeats]

I partly agree on that since it is pretty clear that it takes several minutes before a certain transaction be confirmed in the network then be available for spending. That is quite a hassle for users who are finding a way to have faster transactions even on the go. Bitcoin fulfills the mobility problem, but the speed? I think not. The only edge of bitcoin is that it is decentralized and is secure, and I like that more than having a fast tx on the go but controlled by greedy capitalists.

[designerusa]

Whatever they say, it won't matter.
Bitcoin will win in the end and catch really great shares from these guys.

[TotalPanda]

haha MasterCar two cents promo 
Very fast transactions

[knowhow]

Whatever they say, it won't matter.
Bitcoin will win in the end and catch really great shares from these guys.

It had made it already ,some people avoiding their cards.. they keep with their market but some users just stoped ,and more will do as they know bitcoin and what it can offer,and well the image of pyramid or other scam project get out of people mind.

[hunnaryb]

I've got to say, after using contactless payment for a while, I really can't believe how convenient that is, and compare that to using QR codes n what not for Bitcoin payment, then waiting for confirmations, it really is a world of difference. Obviously, we can always argue that banks are the middle men that make the contactless payments work so seemlessly and they can go down as well as take your money whenever you want. For most use cases  however, I really can't advise using bitcoin as a method of payment for everyday use. Transferring larger amounts may have some merits as my bank limits me to a certain amount of cash withdrawal per day, and bank transfer usually goes through the scam and AML checks.

[Amph]

it work far better than their scam with high fee, there is nothing mastercard can do that bitcoin can't do better

as i said many time, poeple are only accustomed more to credit card now, how much time has passed between cash and being accustomed to credit card?

the same time will pass for bitcoin

[BitmoreCoin]

I've got to say, after using contactless payment for a while, I really can't believe how convenient that is, and compare that to using QR codes n what not for Bitcoin payment, then waiting for confirmations, it really is a world of difference. Obviously, we can always argue that banks are the middle men that make the contactless payments work so seemlessly and they can go down as well as take your money whenever you want. For most use cases  however, I really can't advise using bitcoin as a method of payment for everyday use. Transferring larger amounts may have some merits as my bank limits me to a certain amount of cash withdrawal per day, and bank transfer usually goes through the scam and AML checks.

If banks integrate the bitcoin into their banking system, then you can also use contactless payments.

[knowhow]

Well that happened with paypal ,now they lead the market but in the past they had to fight to stay online.I agree bitcoin is just only starting our community is growing raising and talking about bitcoin with others.