VISA has collapsed

[wuencds]

Even if the issue of transaction speed is resolved, but for the price fluctuations, it seems to be difficult for some companies to use bitcoin transactions. If it is normal personal consumption that uses bitcoin real-time prices, there is no problem, but for For transactions between companies and companies, they need to sign contracts in advance and the funds need to be traded in batches. This price difference has a great impact on them.

[buwaytress]

but BTC did crash. 2013 leveldb bug..
in 2013 btc merchants literally stopped trading/accepting payments for hours, and worried about risks of double spending and if things would ever go back to normal.. (it eventually did go back to normal hours later.. but lets not pretend the event didnt happen)

i personally have a large hoard of coin from as far back as 2012. so dont get me wrong when i point out the reality.
but trying to use an event and then over promoting btc and underpromising it with lies wont actually make people trust or desire btc.
its far better to be brutally honest and get people who see the benefits of it. than to be shady and misrepresent it

i see many times thos that over promote btc are usually the ones waiting for their time to exit btc and run back to fiat in profit. not caring for the longevity/features/benefit of btc. and only looking for fiat profit. whih doubles the shady nonsense approach they try

Got to say I'm actually with you on this franky. Far too many Bitcoin "holders" who think they're doing the coin a favour by holding it, talking about how superior it is when events like these happen and saying: that wouldn't happen to Bitcoin. But they wouldn't know. Because they don't actually use Bitcoin. They're just waiting for their exit so they can ride off into the sunset with their lambos.

I've got most of my "crypto" belief in Bitcoin, if not all. But not to the point I need to be blind and hopefully never to the point I think it solves every problem in the world, because it doesn't.

[Dudeperfect]

It's not happening because there are some issues with VISA but I do see the fault of centralized systems. On the other hand, decentralized currencies have fewer chances of system failure as the capacity of such system to deal with the high volume is much more than that of a centralized system. I am not against VISA or any other company but I am no more a fan of the centralized system.

[StuartJonson]

I think it is not a subject to compare it with bitcoin.

[DanielJacob]

Don't you think it is a good news.

[BillCoin]

It's a really nice example for the reason that we need payment processors  to be decentralized.
When this issue to Visa happened, large amount of stores who were using Visa to process payments was just stopped working and they couldn't process payments, imagine a big mall who just can't accept new customers and have to stop working, can you imagine how much money stores and other corporations may lose from such a scenario? tons.

One of the things that bitcoin offer is the ability to guarentee a 100% time-ups, it's a very serious thing that there is not a company or payment processor who can offer the same.

[cointopper]

Visa Network Crashes across Europe and UK! Is it the time for Blockchain?

The Visa credit card network slammed over the United Kingdom and Europe, leaving millions unfit to pay for different merchandise and
ventures with debit or credit cards.

Visa's credit card payment platform is broadly steady. In the case, prior today, it smashed in shops, corner stores, and railroad stations crosswise over
Britain and Europe, leaving millions unfit to utilize their debit or credit cards. The fall occurred at around 2:30 pm on Friday crosswise over
Europe, as indicated by The Guardian.

Visa reacted to the episode saying they were encountering "a service disruption" over the mainland, despite the fact that they didn't recognize the
reason for the disturbance.

“This incident is preventing some Visa transactions in Europe from being processed. We are investigating the cause and working as quickly as
possible to resolve the situation,” clarified Visa in an announcement.

Over the United Kingdom and Europe, lines started to frame at gas service stations as disappointed drivers were not able to pay for their gas in
the wake of topping off. Comparable lines showed up at Sainsbury's markets and train stations.

Mastercard's payment network continued to work as usual. However, clients with debit cards or credit cards associated with the Visa network were
left with no real way to get to their cash.

The Visa network was down for roughly 30 minutes before it was re-established around 3 pm on Friday. Notwithstanding, retailers detailed that
payments were reestablished sporadically and that a few payments proceeded to still not pass across.


So, Can we Say- It's Time For Blockchain?!

To read full news, visit: https://cointopper.com/news/visa-network-crashes-across-europe-and-uk-is-it-the-time-for-blockchain

[cryptorTUX]

I think it is not a subject to compare it with bitcoin.

Give us reason why do you think that? Knowing that visa is used to transfer money in the electric way and that bitcoin is itself a digital format of money well we could compare some aspects of it. Though bitcoin has a problem with scaling and with price fluctuation. Where as visa does fiat money transfers which at its core means that fiat is stable and it can process a lot more transactions.  So for bitcoin to be even seen as an alternative to visa it has to get a lot of things done.

[Sevarchik]

20 hours of reminding which improvements give blockchaing technology.
Maybe it was planned attack from crypto enthusiasts?

[jcarlo]

VISA suddenly collapsed...BTC has never crashed..
The era of digital money is approaching? BTC go to moon?

I think thats why blockchain technology is powerfull than centralized technology. Bitcoin depending processing data on miner all around the world and thats more powerfull than centralized system

[Kemarit]

Bitcoin can't replace credit card now. There are issues like, scalability, confirmations time, transaction fees.
So no one is accepting bitcoin as payment, price is too volatile.

Maybe lighting network can help but im not sure if it could solve all the issues about it.

There are over 100,000 merchants accepting Bitcoin and it keeps growing. How is it no one is accepting bitcoin"?
Volatility price is not even an excuse, because they can get the bitcoins converted to fiat automatically.
Visa also as fees by the way.

In addition there are always Bitpay, a global bitcoin payment service provider that can be used by a lot of merchants who wanted to accept bitcoin so volatility problem is solved.

I'd call it more of a burp than a collapse. It lasted a handful of hours and many people were still able to use cash machines. It looks like it was more of a POS terminal problem which was rapidly sorted.

But hey, let's have more of that 'Bitcoin user unaffected' crowing which makes no sense to me.

Yeah, probably just a network hiccup and we all know that sometimes Visa always experienced this kind of issue so I don't think that we should make a big fuss out of it.

20 hours of reminding which improvements give blockchaing technology.
Maybe it was planned attack from crypto enthusiasts?

LOL. I knew exactly that someone will post this kind of speculation. But I don't think that this is a collaborative attacks from crypto enthusiast to down their system. And what's their to proved though? Will majority of them suddenly shifts to bitcoi and crypto as payment scheme? Nah. Sometimes system is not 100%, just to show you that no one is really perfect.

[mobnepal]

VISA network was collapsed just like usual centralize network can anytime without any notice but price of visa is not volatile so many people still tend to trust all these banks and VISA like payment gateway despite their hefty fee on each and every purchases.

I have heard something about VISA B2B blockchain based network/research before but looks like that is just another publicity stunt and they are still under their old classic centralize network. 

[purgs08]

VISA suddenly collapsed...BTC has never crashed..
The era of digital money is approaching? BTC go to moon?
https://sv1.uphinhnhanh.com/images/2018/06/03/image72147.png

the company has since said it "fell well short" of its goal to ensure cards work reliably at all times following problems on Friday afternoon.
Visa users complained about the issue, which was the result of a hardware failure, on social media.
A Visa spokesman said on Friday night: "Earlier today, Visa had a system failure that impacted customers across Europe.

[bitbunnny]

This has nothing to do with Bitcoin and will not affect the price. And you can't compare Bitcoin system and Visa system, it's completely different way of functioning.
Yes, Visa had some serious technical issues but such problems appear from time to time, not to say they are normal. Bitcoin can't and will not replace credit card issuers, no matter the problems they might having.

[BitRentXx]

In this era of technology it will be difficult for big companies to grow if they do not keep up with technological advances. Just like bitpay, it should work with bitcoin.
In addition to using a credit card, they must also receive payments using digital money.

[extrimals]

VISA suddenly collapsed...BTC has never crashed..
The era of digital money is approaching? BTC go to moon?

A visa is a banking system. It does not own its value other than shares. I think it's not right to compare the company and the coin. And this is a big misconception that bitcoin will NEVER collapse

[hugoworld]

well visa is a very huge company, same as mastercard, I think these sudden problems would be fixed very soon and it will continue to operate normally,. this company is too big to fall, right?
as for bitcoin, this is really not the same case and I do not how it could be compared with visa.. they are really different.

Completely perfectly agreed. Visa is totally different from bitcoin. For that reason, there is no need to compare bitcoin and visa. Visa will completely overcome the problems which It has encountred so far.

[d0flaming0]

This has nothing to do with Bitcoin and will not affect the price. And you can't compare Bitcoin system and Visa system, it's completely different way of functioning.
Yes, Visa had some serious technical issues but such problems appear from time to time, not to say they are normal. Bitcoin can't and will not replace credit card issuers, no matter the problems they might having.

i actually share the same opinion like you. technical difficulties are always present, aside from those hacking attempts and system failures, besides they have different structure system. it also doesn't indicate that the fall of one structure will be the end, one more thing also, every system encounters this kind of problems and its quiet natural, but it is not the end of it.

[charlotte04]

VISA suddenly collapsed...BTC has never crashed..
The era of digital money is approaching? BTC go to moon?

Bitcoin always crashes but also can return. Let's face it we can't make Bitcoin as a payment method. We just have to find another coin that could do that role.

[Hiimgosu]

BTC is crashing every year. So I don't believe that this could be the result of a new era you're saying LOL. Everything in this would can and will crush in time.