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Author Topic: It's Public Now: MasterCard Offically Lobbying on Bitcoin in U.S Congress  (Read 4610 times)
mktrader (OP)
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April 30, 2014, 05:32:39 AM
 #1

It shows how scared MasterCard is due to the rise of Bitcoin. It's ironical that in their recent risk disclosure statements, MasterCard & Visa did not disclose Bitcoin as a risk! But from deep inside they are totally scared.

Full news story here:
http://thehill.com/business-a-lobbying/business-a-lobbying/204733-mastercard-lobbying-on-bitcoin

I think the community or the Bitcoin foundation need to wear their Lobbying hats NOW!

I think now I can confidently say: Bitcoin to the moon (AKA: $10,000) -- in medium to long term, of course.

Price Poll: bitcointalk.org/index.php?topic=555609
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April 30, 2014, 05:34:59 AM
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Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.
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April 30, 2014, 06:05:03 AM
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Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.

True. Bitcoin is just 5 years old and the Bitcoin Core (Bitcoin-qt) is still in beta.
We have very little power at this moment comparing with Mastercard and Visa, and it will be a tough war. Sad

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April 30, 2014, 07:00:50 AM
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time to push Bitcoin on the public hard this year to all willing to listen.  Atlest we can have the ears of everyday people who want to be informed.
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April 30, 2014, 01:16:03 PM
 #5

It shows how scared MasterCard is due to the rise of Bitcoin. It's ironical that in their recent risk disclosure statements, MasterCard & Visa did not disclose Bitcoin as a risk! But from deep inside they are totally scared.

Full news story here:
http://thehill.com/business-a-lobbying/business-a-lobbying/204733-mastercard-lobbying-on-bitcoin

I think the community or the Bitcoin foundation need to wear their Lobbying hats NOW!

I think now I can confidently say: Bitcoin to the moon (AKA: $10,000) -- in medium to long term, of course.

Are you joking?

http://www.coindesk.com/new-mobile-payment-system-paym-poses-challenge-bitcoin/


Do you know how easy it is for most credit card companies / banks to implement this "Paym" solution(it already exists in some major banks)? Like I have always said, Bitcoin doesn't help the normal average person almost at all in any way shape or form. Most people don't ever pay any fees on any banking services, especially when credit cards give you 5% off on rotational categories and 2% on every day purchases.

The case is closed on how much BTC helps average person, it doesn't.


however, tech people will use it always no matter what, so there is certainly a niche that won't go away.

I gotta say, it has been a good run, but Bitcoin can easily be shoved into the back of the closet.  A few gifted coders did create something that is good yes. But everyone is very entrenched in loans with USD and banks and CCs. Bitcoin taking down the USD as the world reserve currency is a complete joke. That is like saying Apple will gain more market share in operating systems for computers/laptops. Never gonna happen ever.
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April 30, 2014, 01:28:07 PM
 #6

if a payment system needs to bribe senators, then maybe we should just publicise that it is not winning favours due to being good and having features people want.

then get bitcoin lobbyists not to bribe anyone, but just find the most laymen terms there is to explain why bitcoin is better.

then have the 2 sales pitches laid out side by side for all to see.

EG
Mastercard: "here senator take this $1m and help us make laws to screw 3 hours labour out of everyone monthly minimum wage  (2%= $20 of $1000)

bitcoin: "send any transaction locally or internationally, small or large amount for less then half a cent

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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April 30, 2014, 01:38:35 PM
 #7

It shows how scared MasterCard is due to the rise of Bitcoin. It's ironical that in their recent risk disclosure statements, MasterCard & Visa did not disclose Bitcoin as a risk! But from deep inside they are totally scared.

Full news story here:
http://thehill.com/business-a-lobbying/business-a-lobbying/204733-mastercard-lobbying-on-bitcoin

I think the community or the Bitcoin foundation need to wear their Lobbying hats NOW!

I think now I can confidently say: Bitcoin to the moon (AKA: $10,000) -- in medium to long term, of course.

Are you joking?

http://www.coindesk.com/new-mobile-payment-system-paym-poses-challenge-bitcoin/


Do you know how easy it is for most credit card companies / banks to implement this "Paym" solution(it already exists in some major banks)? Like I have always said, Bitcoin doesn't help the normal average person almost at all in any way shape or form. Most people don't ever pay any fees on any banking services, especially when credit cards give you 5% off on rotational categories and 2% on every day purchases.

The case is closed on how much BTC helps average person, it doesn't.


however, tech people will use it always no matter what, so there is certainly a niche that won't go away.

I gotta say, it has been a good run, but Bitcoin can easily be shoved into the back of the closet.  A few gifted coders did create something that is good yes. But everyone is very entrenched in loans with USD and banks and CCs. Bitcoin taking down the USD as the world reserve currency is a complete joke. That is like saying Apple will gain more market share in operating systems for computers/laptops. Never gonna happen ever.

yeah banks are giving us money for using their services... best business model ever. seriously... you are aware that they are massively charging merchants for using their services. I do not know if you are familiar with poker, but your 5% or 2% are at best a rakeback from the rake you pay to the provider. it is obviously more cost efficient not to pay rake at all.

my thesis is that systems without a middlemen are always more cost efficient than systems with a middle men - that is for me the most convincing reason why crypotcurrencies will succeed
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April 30, 2014, 02:26:33 PM
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The banks could devise a system of using small elves to transport fiat around. But it would still be fiat.

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April 30, 2014, 02:43:09 PM
 #9

First they ridicule you, then they fight you, then you win.

The technology behind the blockchain is so good it will come out victorious.

I think Monero (XMR) is very interesting.
https://moneroeconomy.com/faq/why-monero-matters
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April 30, 2014, 02:44:11 PM
 #10

1)Try move your money outside your country and see if it is easier and cheaper with btc or with fiat. Commom people sometimes goes to other countries too, or just wanna import stuff for personal use without the importer's man in the middle and taxes.

2)The costumers might does not pay for the credit card service(what is not really true where I life, but ignore that), but the service providers pay a % for each credit card transaction, and that ammount is transfered to the customer. So with the man-in-the-middle credit card system, the customer either pays more or get less discounts, and bitcoin can solve that.  

3) You need really few cash to start investing in bitcoin, and bitcoins returns are far better than any other investiments. Others top return investiments, like gold, silver, markets, options, foreign currencies, etc... have too high fees, and many fixed fees, so you need already a good amount of money for them to be profitable. Investiments for low initial capital gives ridiculous returns that are almost an offense.

4) The wire international transfer system sucks really hard. Anyone used to use it can tell you about that. That might be  why some companies like Mastercard are defending btc.



So, still btc can't benefit the common guys?
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April 30, 2014, 06:01:58 PM
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1)Try move your money outside your country and see if it is easier and cheaper with btc or with fiat. Commom people sometimes goes to other countries too, or just wanna import stuff for personal use without the importer's man in the middle and taxes.

2)The costumers might does not pay for the credit card service(what is not really true where I life, but ignore that), but the service providers pay a % for each credit card transaction, and that ammount is transfered to the customer. So with the man-in-the-middle credit card system, the customer either pays more or get less discounts, and bitcoin can solve that.  

3) You need really few cash to start investing in bitcoin, and bitcoins returns are far better than any other investiments. Others top return investiments, like gold, silver, markets, options, foreign currencies, etc... have too high fees, and many fixed fees, so you need already a good amount of money for them to be profitable. Investiments for low initial capital gives ridiculous returns that are almost an offense.

4) The wire international transfer system sucks really hard. Anyone used to use it can tell you about that. That might be  why some companies like Mastercard are defending btc.



So, still btc can't benefit the common guys?


NO one said it cannot benefit the common guy, it is that the common average person has no need of it at all and won't use it EVER.
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April 30, 2014, 07:06:48 PM
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1)Try move your money outside your country and see if it is easier and cheaper with btc or with fiat. Commom people sometimes goes to other countries too, or just wanna import stuff for personal use without the importer's man in the middle and taxes.

2)The costumers might does not pay for the credit card service(what is not really true where I life, but ignore that), but the service providers pay a % for each credit card transaction, and that ammount is transfered to the customer. So with the man-in-the-middle credit card system, the customer either pays more or get less discounts, and bitcoin can solve that.  

3) You need really few cash to start investing in bitcoin, and bitcoins returns are far better than any other investiments. Others top return investiments, like gold, silver, markets, options, foreign currencies, etc... have too high fees, and many fixed fees, so you need already a good amount of money for them to be profitable. Investiments for low initial capital gives ridiculous returns that are almost an offense.

4) The wire international transfer system sucks really hard. Anyone used to use it can tell you about that. That might be  why some companies like Mastercard are defending btc.



So, still btc can't benefit the common guys?


NO one said it cannot benefit the common guy, it is that the common average person has no need of it at all and won't use it EVER.


Well,most common guys go on vacation and exchange money,so you must have picked EVER out your arse
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April 30, 2014, 07:21:23 PM
 #13

Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.

you gotta be kidding right we would have a 10 times between us what visa and mastercard have

could you please make a breakdown of your estimations

for example say their is a million of us and our lifetime net worth is 1 million dollars we are looking at 1 Trillion

id say their would be possibly a 100 Million people at the very least interested in Crypto

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April 30, 2014, 07:29:11 PM
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Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.

you gotta be kidding right we would have a 10 times between us what visa and mastercard have

could you please make a breakdown of your estimations

for example say their is a million of us and our lifetime net worth is 1 million dollars we are looking at 1 Trillion

id say their would be possibly a 100 Million people at the very least interested in Crypto
it doesnt matter how many people are intrested in crypto. What matter most is many are willing to go and fight for it. And how many resources the would like to spend on it. Even if one has a net worth of 1 trillion, I dont think any one Is crazy enough to put it on for bitcoin.
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April 30, 2014, 09:12:37 PM
 #15

http://www.cryptocoinsnews.com/news/mastercard-pays-lobbyists-focus-bitcoin/2014/04/30

A few days ago,  Coindesk reported on the first Bitcoin debit card being made by Bitcoin startup Xapo. In the article, it was rumored Xapo was tied to Mastercard in this venture. Soon after publishing, the article was updated with an official notice from Mastercard stating the credit card company had no ties to Xapo or Bitcoin whatsoever. It seems this story is not entirely true, at least not when it comes to the Bitcoin part.

Paying for lobbyists

As most of you will know, United States politics are full of lobbyists. These people are paid by political parties or big companies to help tip the scales in favor of a certain ‘need’. Mass example, the democrat party will probably have paid many lobbyists to help President Obama secure his Obamacare system. It’s not always very transparent, but many times there will be a lobbyist report filed. This report shows how much was paid to lobbyists and what that money was for. Lobbyists are usually hired through lobbying firms. Peck Madigan Jones is one of these firms and their quarterly report was interesting…

In this quarterly report, which was filed this month, Peck Madigan Jones said that five of its lobbyists were concentrating on “Bitcoin and mobile payments”, on behalf of Mastercard. This proves that MasterCard is actively paying lobbyists to focus on the virtual currency, making MasterCard the first company to officially lobby on Bitcoin, according to federal disclosure records.

Of course, MasterCard knew this was going to come out soon after the report was made public. In a statement regarding this news, the credit card giant said that it was “gathering information in connection with recent congressional hearings to better understand the policy issues around virtual and anonymous currencies.”A company like MasterCard will always remain vague about sensitive matters like this. However, the importance of this report does not lie in the fact that MasterCard is investigating Bitcoin opportunities. It would be naive to think that MasterCard (or Visa for that matter) have not been looking into virtual currencies before. If not to understand the advantages of Bitcoin, surely to know their ‘enemy’. The real deal about this is the fact that MasterCard knew this news would go public. A credit card company that publicly expresses its interest in virtual currencies, it’s a rather odd picture.

Who will be first?

Does this mean we will see MasterCard credit cards with a Bitcoin logo on it soon? While some may rejoice upon reading this news and start planning their holiday on the moon, we tend to be a bit more careful when analyzing this. To me, this is a first step. MasterCard realizes virtual currencies will not be disappearing anytime soon (and believe me; that was what they were hoping for). Rather than ignoring their existence, they saw a potential market. This change in approach brings in a whole new world of fear. No longer are they just scared of Bitcoin. They are more afraid of other companies finding a way to embrace Bitcoin before them. That might be their biggest fear.

I can imagine Bitcoin giving credit card companies sleepless nights. The rise in popularity does not stop, even though authorities have been going out of their way to discredit the cryptocurrency. Which credit card company will be the first to embrace Bitcoin? Xapo already said it is working together with an undisclosed banking company to manufacture its Bitcoin debit cards. The hunt for Bitcoin adoption is open!

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April 30, 2014, 09:37:28 PM
 #16

Quote

NO one said it cannot benefit the common guy, it is that the common average person has no need of it at all and won't use it EVER.

Um you just did:

"The case is closed on how much BTC helps average person, it doesn't."

Do you happen to be suffering from a bit of transient global amnesia? Or are you just as damn ignorant and dishonest as you appear to be? Grin Go back to one of your other personalities, finger puppet.
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April 30, 2014, 09:51:01 PM
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felt that this would eventually happen. i really hope they don't have enough bargaining power to make a dent.. but who knows? if they can buy out enough of our politicians, bitcoins could be in for a big surprise.
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April 30, 2014, 09:54:55 PM
 #18

my thesis is that systems without a middlemen are always more cost efficient than systems with a middle men - that is for me the most convincing reason why crypotcurrencies will succeed

Bitcoin has thousands of middlemen, anyone running a full node and processing transactions. Could even stretch that to anyone mining at a pool.

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April 30, 2014, 09:57:42 PM
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1)Try move your money outside your country and see if it is easier and cheaper with btc or with fiat. Commom people sometimes goes to other countries too, or just wanna import stuff for personal use without the importer's man in the middle and taxes.

2)The costumers might does not pay for the credit card service(what is not really true where I life, but ignore that), but the service providers pay a % for each credit card transaction, and that ammount is transfered to the customer. So with the man-in-the-middle credit card system, the customer either pays more or get less discounts, and bitcoin can solve that.  

3) You need really few cash to start investing in bitcoin, and bitcoins returns are far better than any other investiments. Others top return investiments, like gold, silver, markets, options, foreign currencies, etc... have too high fees, and many fixed fees, so you need already a good amount of money for them to be profitable. Investiments for low initial capital gives ridiculous returns that are almost an offense.

4) The wire international transfer system sucks really hard. Anyone used to use it can tell you about that. That might be  why some companies like Mastercard are defending btc.



So, still btc can't benefit the common guys?


NO one said it cannot benefit the common guy, it is that the common average person has no need of it at all and won't use it EVER.


Well,most common guys go on vacation and exchange money,so you must have picked EVER out your arse

More than half of Americans have never left the US.
Between the 'USD zone' of the US, and the Euro zone of Europe, a very large number of people (and proportionally much higher number of middle-class to well-off people) can travel without ever needing to exchange currency.

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April 30, 2014, 09:59:52 PM
 #20

Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.

I am not sure we need to be too concerned.  The lobbying may be just to clarify legal use for partnering with Xapo for instance.  If Xapo wants to use Mastercard's platform then Mastercard would need to make sure there was no issues with that.

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April 30, 2014, 10:38:41 PM
 #21

This is definitely not good news.   Since BTC ultimately poses a long term threat to Mastercard's bottom line, you can bet the house that they aren't there lobbying in support of cryptos.
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April 30, 2014, 11:42:56 PM
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Is there any scenario where Mastercard can join with BTC and help innovate it and work with it - keeping it's bottom line?
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April 30, 2014, 11:49:29 PM
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There is literally no fucking way they are lobbying anything in bitcoin's favor. Prepare for a fight.
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May 01, 2014, 12:58:14 AM
 #24

With services like zapo which will soon allow you to use a debit card via mastercard / visa to spend bitcoin. Sounds like a really good idea to me.

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May 01, 2014, 01:57:27 AM
 #25

Although there is not a chance in hell that this is why they are in Washington, it would be great if Mastercard came out publicly and said that their credit cards can be used to purchase BTC.   Or BTC could be used to pay the monthly credit card bill!
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May 01, 2014, 02:14:58 AM
 #26

This all goes to show that Bitcoin can't die. Those in power are desperate to control it and those who stand to lose from it are either trying to control it or hop on board in some way.

It's a simple concept that even some Bitcoiners don't get. Bitcoin can't die. Maybe it can be superseded by another Bitcoin type system but it can't die. Because you can really regulate the unregulatable and you will never stop people seeking to freely pass around wealth. Add an indestructible element and you will never kill it.
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May 01, 2014, 06:59:56 AM
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Is there any scenario where Mastercard can join with BTC and help innovate it and work with it - keeping it's bottom line?

No. Bitcoin was created to end the exploitative practices of greedy corporates such as Master / Visa / Paypal / Western Union. If Master want to join the BTC, then they will have to eliminate their greed, which I think is never going to happen.
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May 01, 2014, 07:13:11 AM
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Indeed If we compare Bitcoin with master/visa cards bitcoin is nothing. So yes what we can do is just try to spread bitcoin word as much as possible till It gets Its power.
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May 01, 2014, 08:38:50 AM
 #29

Typewriters are still around... so maybe the Mastercard lobbyists are trying to at least save them enough maybe to cater to the older than 50 years crowd who will find it harder believe in bitcoin? Mastercard will soon be cute like a typewriter...
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May 01, 2014, 12:17:24 PM
 #30

From article comments.


“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)

Kinda makes sense Smiley I think coin start then goes up then it finds its price level. Something like that.
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May 01, 2014, 12:22:56 PM
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From article comments.


“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)

Kinda makes sense Smiley I think coin start then goes up then it finds its price level. Something like that.

What about Paypal and WesternUnion lol? How much does the companies worth?
Bitcoin is even way better than PP and WU IMO.

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May 01, 2014, 12:39:43 PM
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How much paypal is worth. Strictly business wise - amount they generate in commissions and fees from the merchant accounts minus costs. Aka profit per year X say by 10. Plus brand is worth something as they can launch new services to somewhat loyal customers. And in times where data is worth alot, data held also adds to the valuation.

And

Well if you have read comments there you would see -

Quote
Marc Andreessen is hard at work blowing hot air into Bitcoin, undoubtedly for the sake of his investments therein; he’s also a director of eBay Inc., a most unscrupulous commercial organisation demonstrably involved in knowingly and calculatingly facilitating massive auction fraud activity on the consumers of the world.



From article comments.


“Stay away. Bitcoin is a mirage. It’s a method of transmitting money. It’s a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money just because they can transmit money? Are money orders? You can transmit money by money orders. People do it. I hope bitcoin becomes a better way of doing it, but you can replicate it a bunch of different ways and it will be. The idea that it has some huge intrinsic value is just a joke in my view.”—Warren Buffett (March 2014)

Kinda makes sense Smiley I think coin start then goes up then it finds its price level. Something like that.

What about Paypal and WesternUnion lol? How much does the companies worth?
Bitcoin is even way better than PP and WU IMO.
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May 01, 2014, 01:17:04 PM
 #33

It shows how scared MasterCard is due to the rise of Bitcoin. It's ironical that in their recent risk disclosure statements, MasterCard & Visa did not disclose Bitcoin as a risk! But from deep inside they are totally scared.

Full news story here:
http://thehill.com/business-a-lobbying/business-a-lobbying/204733-mastercard-lobbying-on-bitcoin

I think the community or the Bitcoin foundation need to wear their Lobbying hats NOW!

I think now I can confidently say: Bitcoin to the moon (AKA: $10,000) -- in medium to long term, of course.

Are you joking?

http://www.coindesk.com/new-mobile-payment-system-paym-poses-challenge-bitcoin/


Do you know how easy it is for most credit card companies / banks to implement this "Paym" solution(it already exists in some major banks)? Like I have always said, Bitcoin doesn't help the normal average person almost at all in any way shape or form. Most people don't ever pay any fees on any banking services, especially when credit cards give you 5% off on rotational categories and 2% on every day purchases.

The case is closed on how much BTC helps average person, it doesn't.


however, tech people will use it always no matter what, so there is certainly a niche that won't go away.

I gotta say, it has been a good run, but Bitcoin can easily be shoved into the back of the closet.  A few gifted coders did create something that is good yes. But everyone is very entrenched in loans with USD and banks and CCs. Bitcoin taking down the USD as the world reserve currency is a complete joke. That is like saying Apple will gain more market share in operating systems for computers/laptops. Never gonna happen ever.

yeah banks are giving us money for using their services... best business model ever. seriously... you are aware that they are massively charging merchants for using their services. I do not know if you are familiar with poker, but your 5% or 2% are at best a rakeback from the rake you pay to the provider. it is obviously more cost efficient not to pay rake at all.

my thesis is that systems without a middlemen are always more cost efficient than systems with a middle men - that is for me the most convincing reason why crypotcurrencies will succeed

0% annual fee, 0% banking fee, 0% transfer fee, 0% late fee(I am never late and always pay off anyways).

So that 2% to 5% I rake back, is purely going back to me. Credit card companies lose money on me, I am a pure money pit to them. I NEVER PAY INTEREST to any cc company as I always have auto pay set to pay my balance. My dad taught me this, get a cc with no fees that has rewards and its an easy way to get money back.

Not to mention I signed up for a few different credit cards so i can take advantage of the rotating 3 month promotional 5% categories. Example, discover might give 5% off gas for the next 3 months so I only use that to buy gas, my chase preferred visa might be 5% off home improvement items so i only buy home improvement items with that. BTC gives absolutely nothing off and is volatile, so yeah not using that to buy anything, + you get to pay a nice transaction fee and you have to keep track of it and provide the details when filing your taxes(no thanks lol). although obviously it would be hard for them to catch you "NOW" but once they start getting systems put together that tie in your bank account that you used to link to coinbase or whatever, they link it back to you, few years down the road something shows up for thousands of dollars worth of BTC transactions with your name on it, and they are auditing you Wink gotta love how the blockchain can be used to go back into the past and fuck you huh?
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May 01, 2014, 01:23:37 PM
 #34

I think that honestly what is going to happen is going to be that MasterCard and or visa and bitcoin are going to merge and they are going to find a way to use bitcoin

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May 01, 2014, 02:32:47 PM
 #35

Who exactly owns the "rights" to bitcoin anyways. I think one day soon all of this will be changed in court. Assuming MasterCard believes bitcoin a threat.
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May 01, 2014, 02:43:33 PM
 #36

Not surprising, merely a matter of time
Game on...

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May 01, 2014, 02:45:49 PM
 #37

Well, they have to do something.  Cool

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May 01, 2014, 02:51:07 PM
 #38

Not surprising, merely a matter of time
Game on...

+1.
If bitcoin gets more and more successful, the credit card companies will have less business and less profit. So, it is not surprised to read something like that. Smiley

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May 01, 2014, 03:52:39 PM
 #39

It's worth noting that it's not yet clear if they are lobbying for bitcoin or against bitcoin.  While most of us would assume a negative, it could very well be that they are lobbying to get better rules and regulations to allow them to get into the crypto currency market one way or another.  As someone else said, this could just be so they have legal clarity on what they can or can't do and is an attempt to get politicians to get on the ball and make things more clear in a quicker manner.

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May 01, 2014, 03:56:13 PM
 #40

Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.

We should begin buying bitcoin with their cards just to pump wealth into btc.




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May 01, 2014, 04:03:24 PM
 #41

Hmm... bad news.... MasterCard / Visa have billions of $$$ in their hands to do the lobbying. Unfortunately we don't even have 1% of that amount. Now the only realistic option is to align with the enemies of Master / Visa, such as Russia.

We should begin buying bitcoin with their cards just to pump wealth into btc.

There are few places you can buy bitcoin with credit cards, and I am sure MasterCard and Visa will be more than happy to have done more business lol.

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May 01, 2014, 06:55:40 PM
 #42

This is interesting. I wonder how that will affect the BTC market going forward. I think the more big corps that sign on, the more valuable BTC might become?

Probably. And people will stop saying bitcoin is only for drugs and illegal activities (which is not true).

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May 01, 2014, 07:00:13 PM
 #43

This lobbying activity clearly implies that the biggest payment processors, with trillions of dollars of annual turnover, are seriously considering Bitcoin as a threat or an opportunity. This explains the huge potential of the Bitcoin as a payment medium and its potential of reaching the $10,000+ price mark based on the expected upcoming demand!

Price Poll: bitcointalk.org/index.php?topic=555609
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May 01, 2014, 07:26:27 PM
 #44

I am on crypto and not going back.  Always felt like something was off with the economy.  People working their whole life, and dying with what...50K saved, if lucky?

You retire, big whup, you are 68 years old and all the spring is gone from your step.

You only got one life man, live it the way you want to!  Bitcoin will change that, IS changing that.  People will see real gains with honest money, and won't be practically dead when they have time to spend it and enjoy life.

Fk this feudal system bullshit, fk being a tax cow.

If Mastercard and Visa go belly up then I won't lose a wink of sleep over it!
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May 01, 2014, 07:34:53 PM
 #45

As the famous quote goes, "First they ignore you, then they laugh at you, then they fight you, then you win"

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