Visa May Add Cryptocurrencies to Its Payments Network, Says CEO

Post by itsdsmurrell » Sun, Jan 31, 2021, 10:56 PM UTC

pmorici wrote: post #45

lovetocode wrote: post #2

Cryptocurrency continues to gain more ground but I still have my reservations about it being the currency of the future. If by design, cryptocurrency has a finite volume of transferrable currency, do early adopters have an unfair advantage that could potentially make the currency unusable? I don’t see how it could possibly be fair when earlier mining yielded currency more quickly.

There is no reason that limited supply need be an inherent mechanism to a crypto currency.

Post by UShouldBWorking » Sun, Jan 31, 2021, 10:57 PM UTC

k__ wrote: post #79

About the volatility of cryptocurrency. Shouldn't this even out when mining becomes too expensive and enough people adopted a cryptocurrency? Like, aren't we simply too early for making sense of it all?

Post by hntrader » Sun, Jan 31, 2021, 10:59 PM UTC

delaaxe wrote: post #84

bootyfarm wrote: post #6

Great, let’s all accelerate climate change even faster.

Bitcoin mining is good for the environment https://pomp.substack.com/p/bitcoin-mining-is-good-for-the-e...

Post by arcticbull » Sun, Jan 31, 2021, 10:59 PM UTC

lotsofpulp wrote: post #21

toomuchtodo wrote: post #15

Earlier quoted context omitted.

Visa is in the payments business. The US Federal Reserve ("The Fed") is going live with an instant payments service in 2023-2024 [1] [2]. What does that leave Visa with? Hence, the existential crisis (first, trying to buy Plaid, and now "Crypto!"). [1] https://www.frbservices.org/financial-services/fednow/index.... [2] https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa...

Visa is left with a valuable rewards game system where people get cash back or points or whatever. Plus the liability protections that credit cards come with. People can already use debit cards with no effort, and merchants can accept that at very minimal costs. But still, most merchants are hesitant to offer lower prices to purchases with debit card because they are betting people spend more with credit cards. I don…

Post by hn_throwaway_99 » Sun, Jan 31, 2021, 11:00 PM UTC

thekyle wrote: post #75

MediumD wrote: post #63

Earlier quoted context omitted.

I think this is one of those things where people overestimated how much things would change in the short-term, but will grossly underestimate how much they will change in the longterm. 5 years is a pretty short window in the grand scheme of things when talking about the adoption of technologies.

Gold has been in use for hundreds of years and yet it's still very volatile. If Bitcoin is digital gold that doesn't really solve the volatility problem.