Mastercard credit processing is dead - Proof-of-Credit announced by VISA

[tokyoghetto]

Visa just announced a new Proof-of-Credit algorithm. It uses 11x encryption to process purchases at point of sale purchases. This means that it takes the same amount of time for purchases to go through as Mastercard. Actually, its pretty much achieves the same goal as Mastercard, which uses 9 random Proof-Of-Credit Algorithm. The end user will not feel any difference and most likely they don't give a shit. Its actually the third party Proof-Of-Credit Processors who are all butt-hurt from chasing after the same slice of pie.

Third party Proof of Credit processors, which have invested hundreds of dollars converting their mom's basement into a money printing-press, have mixed feelings about the new VISA algo. They were expecting 20 day ROI on their 5000 series AMD GPUs and to become millionaires by Q3 2014 with Mastercards Proof-of-Credit algo . It seems now that they will have to revert to getting a real job, one that will require a hairnet and an apron.

Insiders say that BFL and Blackarrow are already working on ASICS to mine this new Proof-of-Credit system, which will require them to do 6 months of  "burn-in" mining before releasing hardware to end users, whom will never ROI on the hardware after it has been abused like a eastern european 2 dollar hooker. Pre-orders are available, purchase price will be more than what the hardware will return in profit, if you ever get the hardware at all.

Visa feels that this new Proof-of-credit system will make them millions, but they are dumb enough to open source it. Banks in third world countries such as Nigeria and Ethiopia are already using the new algo to launch their own Proof-of-Credit systems, which will most likely be used to scam people out of millions. MasterCard is trying to tap public figurehead Max Kaiser to support the 9 random Proof-of-Credit system, at least long enough for them to dump the profits generated from transactions.

So what does this mean to the end user?

absolutely nothing. all purchases will be processed whether they use 9x or 11x algo. This news only concerns pimpled faced, neck beard basement dwellers trying to get rich of other peoples hard work.