|
TheFootMan (OP)
|
 |
March 28, 2014, 07:50:54 PM |
|
Most of you probably got the news that WalMart is suing Visa over excessive fees: http://www.huffingtonpost.com/2014/03/27/walmart-suing-visa-credit-card-swipe_n_5045295.htmlSo my thoughts are: Could WalMart start using bitcoin, and would bitcoin be able to scale up to that task currently? If not, what would be needed for it to happen? Imagine execs at a large company really got pissed and decided to make a stand and cut VISA altogether and only accept crypto. I'm not even foreign to the idea that in the future, various big corporations will have their own cryptocoins. Amazon-coin, WalMart-coin etc. |
|
|
|
|
designfail
Member
 Offline
Activity: 86
Merit: 10
|
|
March 28, 2014, 07:58:30 PM |
|
Most of you probably got the news that WalMart is suing Visa over excessive fees: http://www.huffingtonpost.com/2014/03/27/walmart-suing-visa-credit-card-swipe_n_5045295.htmlSo my thoughts are: Could WalMart start using bitcoin, and would bitcoin be able to scale up to that task currently? If not, what would be needed for it to happen? Imagine execs at a large company really got pissed and decided to make a stand and cut VISA altogether and only accept crypto. I'm not even foreign to the idea that in the future, various big corporations will have their own cryptocoins. Amazon-coin, WalMart-coin etc. They are suing Visa and will continue using Visa. And sue them again and continue using Visa again. And average Joe will be paying for this thru his shoppings at walmart. |
|
|
|
|
|
counter
|
|
March 28, 2014, 10:30:06 PM |
|
interesting question and thanks for the article. I for one suspect they won't but it wouln't surprise me if they did in some mediocre type fashion.
|
|
|
|
|
|
skeet
|
|
March 28, 2014, 11:46:29 PM |
|
I also doubt it that walmart will use bitcoin with the current down trending market of bitcoin atm. And if ever cryptocurrency become so successful as online payment solution with worldwide acceptance there's a big possibility of large corporations adopting and creating their own in the near future.
|
|
|
|
irrational
Newbie
Offline
Activity: 56
Merit: 0
|
|
March 29, 2014, 01:38:14 AM |
|
I'd imagine the intersection of wal-mart customers and bitcoin users is close to zero.
Furthermore, wal-mart is too conservative for something like that. Who knows what percentage of their transactions are Visa or MasterCard.... I'd wager 90% or more.
|
|
|
|
|
ebliever
Legendary
Offline
Activity: 1708
Merit: 1035
|
|
March 29, 2014, 01:51:07 AM |
|
Yesterday I commented that the next wave of Altcoins could be company-sponsored coins. (Just imagine Amazoncoin, Walmartcoin - or maybe just Samscoin, etc.) Naturally the sponsoring company would accept it.
I have no idea if anything like this is in the works or if I'm the first person to think of it. Nor have I thought it through as to whether it is a bright idea or not. Just a thought that spurted out of my cranium...
|
Luke 12:15-21
Ephesians 2:8-9
|
|
|
ebliever
Legendary
Offline
Activity: 1708
Merit: 1035
|
|
March 29, 2014, 01:52:30 AM |
|
I'd imagine the intersection of wal-mart customers and bitcoin users is close to zero.
Furthermore, wal-mart is too conservative for something like that. Who knows what percentage of their transactions are Visa or MasterCard.... I'd wager 90% or more.
You'd be surprised. For one thing, I live in the country near a small town and it is practically impossible to avoid Walmart. They almost have a monopoly here. |
Luke 12:15-21
Ephesians 2:8-9
|
|
|
Infectiphibian
Newbie
Offline
Activity: 112
Merit: 0
|
|
March 29, 2014, 01:54:17 AM |
|
Sure they will. Rumor has it, the Waltons are done collecting USD and now want to collect something else. They are going to be the first Bitcoin billionaire family.  |
|
|
|
|
|
waldox
|
|
March 29, 2014, 07:50:04 AM |
|
walmart is controlled by the bankers/new world order
i doubt they will go crypto, when they are in bed with the controllers of fiat
|
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
|
|
March 29, 2014, 08:02:10 AM |
|
You can already use bitcoins to shop at Walmart.
|
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
|
|
timecoin
Member
Offline
Activity: 70
Merit: 10
|
|
March 29, 2014, 09:34:42 AM |
|
Interesting article. I suspect they will not, and they surprise me.
|
|
|
|
|
Brangdon
|
|
March 29, 2014, 10:41:57 AM |
|
Yesterday I commented that the next wave of Altcoins could be company-sponsored coins. (Just imagine Amazoncoin, Walmartcoin - or maybe just Samscoin, etc.) Naturally the sponsoring company would accept it.
I have no idea if anything like this is in the works or if I'm the first person to think of it. Nor have I thought it through as to whether it is a bright idea or not. Just a thought that spurted out of my cranium...
Amazoncoin already exists. It's another name for gift-vouchers. If it was a genuine distributed crypto-currency, Amazon wouldn't have any special control over it and it wouldn't be better for them than Bitcoin. I think they might condone a crypto-currency one day, but it'll probably be an existing one rather than an invented one. Inventing a new crypto-currency is pointless unless you either have some novel technical contribution to make, or else are running a Ponzi scheme. |
Bitcoin: 1BrangfWu2YGJ8W6xNM7u66K4YNj2mie3t Nxt: NXT-XZQ9-GRW7-7STD-ES4DB
|
|
|
|
HeliKopterBen
|
|
March 29, 2014, 01:01:15 PM |
|
You can buy a wal-mart gift card through gyft using bitcoin. Basically, you can use bitcoin at walk mart via proxy.
|
Counterfeit: made in imitation of something else with intent to deceive: merriam-webster
|
|
|
|
TheFootMan (OP)
|
|
March 29, 2014, 05:45:01 PM |
|
Yesterday I commented that the next wave of Altcoins could be company-sponsored coins. (Just imagine Amazoncoin, Walmartcoin - or maybe just Samscoin, etc.) Naturally the sponsoring company would accept it.
I have no idea if anything like this is in the works or if I'm the first person to think of it. Nor have I thought it through as to whether it is a bright idea or not. Just a thought that spurted out of my cranium...
Amazoncoin already exists. It's another name for gift-vouchers. If it was a genuine distributed crypto-currency, Amazon wouldn't have any special control over it and it wouldn't be better for them than Bitcoin. I think they might condone a crypto-currency one day, but it'll probably be an existing one rather than an invented one. Inventing a new crypto-currency is pointless unless you either have some novel technical contribution to make, or else are running a Ponzi scheme. Could Bitcoin today handle the volume in terms of trades that amazon does? Perhaps the best techs at Amazon would be able to add features to a crypto-coin that would be beneficial for high volume trade? Or perhaps they could contribute resources to the bitcoin team. |
|
|
|
|
Elwar
Legendary
Offline
Activity: 3598
Merit: 2386
Viva Ut Vivas
|
|
March 30, 2014, 01:18:22 AM |
|
You can buy a wal-mart gift card through gyft using bitcoin. Basically, you can use bitcoin at walk mart via proxy.
This. No need to carry cash if you want to shop at Walmart and many many other major chains. |
First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin. |
|
|
MicroGuy
Legendary
Offline
Activity: 2506
Merit: 1030
Twitter @realmicroguy
|
|
March 30, 2014, 02:08:28 AM |
|
It's all about demand. Walmart will give customers what they demand.
That's how business works. They have been successful by filling customer demand. It's only a matter of time before walmart accepts bitcoin.
|
|
|
|
|
|
TheFootMan (OP)
|
|
March 31, 2014, 02:20:26 PM |
|
It's all about demand. Walmart will give customers what they demand.
That's how business works. They have been successful by filling customer demand. It's only a matter of time before walmart accepts bitcoin.
Don't you think that once you're big enough you could also just change something, and then the customers would have to accept it or not. If they don't have much choice, they would have to accept it. Certain big companies act in a way that would be unheard of if they was less popular. Paypal comes to mind. |
|
|
|
|
|
moriartypants
|
|
March 31, 2014, 02:33:38 PM |
|
Actually walmart has a corporate history of trying to help the ordinary consumer.
Not for altruistic reasons obviously and the net effect of their business practices is certianly debatable whether or not it helps or hinders in the end, but you can see some of this in their recent efforts to provide low cost banking, pharmaceuticals and alternative insurance to their customers.
If bitcoin can actually help lower income types I don't think it's unreasonable that they might try to incorporate something in their financial services. Of course, bitcoin would have to be of real benefit to their customers and at the current time it isn't.
|
|
|
|
|
|
TheFootMan (OP)
|
|
March 31, 2014, 02:45:55 PM |
|
If bitcoin can actually help lower income types I don't think it's unreasonable that they might try to incorporate something in their financial services. Of course, bitcoin would have to be of real benefit to their customers and at the current time it isn't.
Well - if they wanted to, they could. - Conduct a case study to see whether it was possible for them to introduce bitcoin as a payment option in their stores. - To drive adaption, they could team up with providers of hardware wallets, or even introduce some kind of bitcoin cards (Neo Bee Cryprus comes to mind: http://www.neo-bee.com/en/) The motivation would be at least two fold: * Less fees needed to be paid to VISA and other payment companies. This could run pretty high because of their sheer volumes. * Avoidance of fraud. I'm sure some customers buy stuff with stolen cards, and WalMart's taking a loss on it. |
|
|
|
|
hilariousandco
Global Moderator
Legendary
Offline
Activity: 3878
Merit: 2654
Join the world-leading crypto sportsbook NOW!
|
|
March 31, 2014, 02:57:02 PM |
|
Hopefully these type of extortionate credit card fees will only highlight the advantages of Bitcoin. I'm not even foreign to the idea that in the future, various big corporations will have their own cryptocoins. Amazon-coin, WalMart-coin etc.
I think that's a distinct possibility. I'm sure big companies like Apple, Amazon or Facebook will use their own money in the future. |
|
|
|
|
