MasterCard now ready to join the Crypto game

[9jaflick]

Mastercard is getting into the crypto game. It's patented "a method that would manage 'fractional reserves of blockchain currency Eventually, this patent will allow Mastercard users to buy and pay for goods with bitcoin instead of dollars and other forms of fiat currency.

https://www.cnbc.com/2018/07/17/bitcoin-above-7000.html

Good Good News coming into the Crypto space.
Better days are yet to come

[1714973399]

1714973399

[1714973399]

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[Goodday]

Hopefully this will be good news for crypto for the future and more and more who trust bitcoin with more support and potential bitcoin prices will skyrocket.

[Ava Duvall]

this is really great news! exited to hear about changes like this because it shows that crypto is growing and improving

[tsmc103]

Its a really great news and i am excited because with this card we can purchase goods and services also cryptocurrency will be more famous among peoples. like MasterCard other cards company also accept bitcoin like Visa Card because in future every business will be accept crypto as a currency BMW and Samsung already Accepted.

[chidrawarster]

It's a good news for all of us and the whole crypto inducted who are dealing with some tough time now with the bearish market. I would be happy to see many more players coming to the crypto market and trying and increasing their business even in the world by implementing crypto in their business. Let's see what happens in the next 2 to 3 years is very much crucial for the economies and also the crypto users.

[gentlemand]

There are tons of patents tucked away that'll never see the light of day that are purely intended to cover an arse in a theoretical future. This isn't any type of dead cert other than them acknowledging that some day they might need to do something.

[mulesofatardo]

Soon all the electronic money will go to crypto

[muslol67]

Yeah, that's good news. And it will help to Mastercard gets one step ahead of Visa. Let Visa think now!

[btc_angela]

Mastercard is getting into the crypto game. It's patented "a method that would manage 'fractional reserves of blockchain currency Eventually, this patent will allow Mastercard users to buy and pay for goods with bitcoin instead of dollars and other forms of fiat currency.

https://www.cnbc.com/2018/07/17/bitcoin-above-7000.html

Good Good News coming into the Crypto space.
Better days are yet to come

According to the link:

"While blockchain currencies can often provide such safety and security for the payer's information, such security may be limited for payees, particularly due to the limitations of the blockchain," the document said. For example, digital coin transactions still take longer: about 10 minutes for blockchain transactions versus nanoseconds for traditional payments.

....

However, while the details are still unclear, if the method was brought to market, it could speed up blockchain transactions by allowing cardholders to instantly pay for things on their credit card with a fraction of their digital currency.

Any blockchain expert here have any idea how can they improved confirmations time? (I assuming they are talking about the limitations of blockchain here in terms of the speed on how a block is confirm).

Is this like a LN scenario? Opening both channels to make the transactions much quicker?

[pickledmuffin]

Mastercard is getting into the crypto game. It's patented "a method that would manage 'fractional reserves of blockchain currency Eventually, this patent will allow Mastercard users to buy and pay for goods with bitcoin instead of dollars and other forms of fiat currency.

https://www.cnbc.com/2018/07/17/bitcoin-above-7000.html

Good Good News coming into the Crypto space.
Better days are yet to come

You can bet if MasterCard comes on board to crypto, VISA will soon follow, along with the smaller rats and mice.

[biskitop]

this will make it easier to buy crypto with mastercard. will be more simple and fast. all this time i have to buy by using voucher. but with a mastercard it will be easier to buy crypto.

[tazmannia]

I very much hope that tomorrow this news will not be refuted and will not say that it was a fraud and they had a completely different meaning. How many times was the News announced, and then denied. So you have to wait a week and you will see the reality of this news.

[muhammedb]

Mastercard is getting into the crypto game. It's patented "a method that would manage 'fractional reserves of blockchain currency Eventually, this patent will allow Mastercard users to buy and pay for goods with bitcoin instead of dollars and other forms of fiat currency.

https://www.cnbc.com/2018/07/17/bitcoin-above-7000.html

Good Good News coming into the Crypto space.
Better days are yet to come

this is a great news, just hope every thing works as its stated above because i have seen allot of speculations and different rumor all in the name of cryptocurrency interest and increasing but all turn to be nothing, for example before the Russia 2018 world cup there were different news that russians will be using bitcoin as means of payment to purchase ticket and to my greatest surprise nothing like that happen. just hope this one turn out to be different  

[kanayaTabitha]

everyone in this crypto world is waiting for the good news .. the sign of the graph also has started up .. will bitcoin like the year before? I hope so..

[bangkecol]

the news is very surprising if it is true MasterCard classmates have legalized bitcoin as a tool for cooperation, it signifies the more fore crypto increasingly recognized by large banks. It will also have a major effect on the development of crypto in the world

[Vanes_brz]

Here) the giants more and more) that's wonderful news!) Who next?) The future of the crypt and all this is beginning to realize!)

[gentlemand]

Any blockchain expert here have any idea how can they improved confirmations time? (I assuming they are talking about the limitations of blockchain here in terms of the speed on how a block is confirm).

Is this like a LN scenario? Opening both channels to make the transactions much quicker?

Do you reckon Mastercard know anything about how to improve the functionality of an actual blockchain? I'm doubtful. And it's not as if any of the main coins would accept a Mastercard fork either. Fiat spending is their business.

I expect it'll be just the same as an existing crypto debit card. You deposit your BTC with them, or presumably some partner like Coinbase, and you spend the balance.

"fractional reserves of blockchain currency" is an unfortunate turn of phrase. I presume that means you're spending fractions of your Bitcoin reserve through them. I don't like the alternative interpretation.

[omonuyak]

Mastercard is getting into the crypto game. It's patented "a method that would manage 'fractional reserves of blockchain currency Eventually, this patent will allow Mastercard users to buy and pay for goods with bitcoin instead of dollars and other forms of fiat currency.

https://www.cnbc.com/2018/07/17/bitcoin-above-7000.html

Good Good News coming into the Crypto space.
Better days are yet to come

of a truth "better days are yet to come " I pity those that keep dumping they holding because of panic. This is just the beginning and we may have company like visa and verve adopting blockchain very soon.  At list bitcoin has done well in 2017 because of the positive news like this and we still expect the same thing to happen this year 2018.

[audaciousbeing]

Mastercard is getting into the crypto game. It's patented "a method that would manage 'fractional reserves of blockchain currency Eventually, this patent will allow Mastercard users to buy and pay for goods with bitcoin instead of dollars and other forms of fiat currency.

https://www.cnbc.com/2018/07/17/bitcoin-above-7000.html

Good Good News coming into the Crypto space.
Better days are yet to come

Ultimately this is what is going to happen and I wonder what banks that have always frowning at people using bitcoin without any basis would want to fight this. Because they themselves relies on the infrastructure of MasterCard and Visa for them to even make more money from customers use of this platform with MasterCard and Visa I wonder if banks would be able to get money from ATM charges and every online transactions made possible with card numbers.

I also envisage some behind the scene conflict as the ability to link wallets to MasterCard would surely mean rapid acceptance as they would find away to make it acceptable for every platform that MasterCard is accepted today. This would surely dip into the revenue of banks which would in turn affects the taxes they would pay to government and that is not something to be taken lightly.

[CAPTEZECC]

Indeed it is good news for the community we are really making huge progress but the standard must be kept no matter who or which organization in coming in. Very soon we need not to convince anyone anymore about bitcoin because the sadness is spreading like a wild fire.