[2015-11-07] Visa & Mastercard Execs Have Plenty to Say About Bitcoin

[coinyoo]

Visa & Mastercard Execs Have Plenty to Say About Bitcoin
It seems like Bitcoin has been the only thing worth following in the mainstream for the last week or so. Granted, good news has been in short supply for the digital currency.
http://cointelegraph.com/news/115587/visa-mastercard-execs-have-plenty-to-say-about-bitcoin

[RustyNomad]

I think that last paragraph pretty much sums everything up...

While not as dismissive as the hubris of a mogul like Jamie Dimon, the lack of Bitcoin understanding is palpable. Reminds one of an old saying, “Best to remain silent, and be thought of as a fool, than to speak and remove all doubt.”

There still appears to be some major ignorance towards bitcoin, almost as if they have written it off before even attempting to fully understand it. Its either that or they do fully understand it and because of that, say the thing they say in order to create this idea that bitcoin will not be around and that it will not be the solution in order to stop mainstream adoption.

[OrientA]

Uphold CEO said “I’ll be surprised if bitcoin is here in five years. The value of bitcoin isn’t the currency, but the technology.”

I think the value of bitcoin is in the currency as well as the technology.

[botany]

And I think for most things that consumers do—with the exception of things like gambling and gaming, where virtual currencies work really well—people want to use real currency.

They find newer and newer ways to try and run down bitcoin. As a consumer, how does it matter to me whether I pay for my iPhone using dollars or bitcoins? I have no fascination of using a "real" currency. No matter how much Visa and Mastercard try, Bitcoin is here to stay.