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Author Topic: A web user comments about Bitcoin on Forbes.com's article about Visa/MC fees.  (Read 633 times)
cloud9
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June 29, 2011, 09:11:15 PM
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A positive Bitcoin comment by a web user in this Forbes.com article:  http://blogs.forbes.com/steveschaefer/2011/06/29/visa-mastercard-surge-on-feds-friendlier-cap-on-swipe-fees/

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June 29, 2011, 09:19:00 PM
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The comment, made by Bitcoin.org forum user BTCVC

Quote from: BTCVC
For years we have relied on Visa and Mastercard and have consistently bent to their will so that we could use their service. Merchants and Consumers alike understand that for years, these transaction fees have been a necessary part of doing business. No more! There are now virtual online commodities like Bitcoin that allow feeless or near-feeless transactions. As Bitcoin continues to take off, it will no doubt be attacked by these payment processors, angry because they are being cut out of their share.

Visa and Mastercard need to embrace online transferable commodities or go the way of the Travel Agent. If people want to use them because of “convenience” or “status” that’s fine, but there are perfectly suitable, free alternatives available.

The usurper of the Travel Agent’s job has been sites like travelocity, expedia, and orbitz.

There are many online transaction services stepping in to wrangle control away from the big guys, it is just a matter of time before one of them is successful.

Simplifies a lot of things, but I bet it is true.

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