Quote from: nakaone on April 30, 2014, 01:38:35 PM

Quote from: iluvpie60 on April 30, 2014, 01:16:03 PM

Quote from: mktrader on April 30, 2014, 05:32:39 AM

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?