MasterCard to open up network to cryptocurrencies

Post by gverrilla » Fri, Feb 12, 2021, 2:35 AM UTC

heidar wrote: post #628

PragmaticPulp wrote: post #490

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Bitcoin was all over the news a decade ago. The reason it's not popular is that the early narrative wasn't "too the moon!" The narrative was that Bitcoin was the currency of the future and that we'd all be using Bitcoin for transactions. Anyone who actually used Bitcoin at the time could see how there was no chance of it taking off as a payment mechanism. That's still true today, especially with $8+ transaction fees.…

Given what you're commenting all over this post, it's pretty clear you don't follow developments in the cryptocurrency space much. Bitcoin is stale, there's no development or innovation happening. It has become a store of value only. The only possible solution that could change that is the Lightning network or other Layer 2 protocols. There are plenty of other coins however that are doing super exciting innovation. B…

Post by edgyquant » Fri, Feb 12, 2021, 2:37 AM UTC

vntok wrote: post #642

pertymcpert wrote: post #580

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Yeah but that disincentivizes investments.

Another way of looking at it: that incentivizes better investments.

Post by nexthash » Fri, Feb 12, 2021, 2:42 AM UTC

efwfwef wrote: post #712

nexthash wrote: post #690

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So you pay $40k+ for bitcoin just so you can frame some numbers and letters and say you paid $40k+ for those numbers and letters? Gold's value comes from the fact that it doesn't dull or dim over time, and has many uses in the electronics and jewelry industries. If you have the resources to get gold and own it, that is a clear sign of status and value. Can't say the same with crypto for any counts. All of crypto's va…

No, Gold value comes from the fact that we all agreed that it should have a value, and it's scarce. Same for Bitcoin. And yes you can parade the fact that you own a bitcoin address, this is after all probably the only reason most people know about Craig S. Wright > There is no convenience, no government backing, and no trust convenience is in stablecoins, government backing is in CBDC, trust is anchored at the founda…

Post by chemmail » Fri, Feb 12, 2021, 2:48 AM UTC

systemvoltage wrote: post #84

PragmaticPulp wrote: post #2

These stories usually spur more enthusiasm for buying cryptocurrency, but ironically those buyers aren’t interested in spending cryptocurrency using their MasterCard. They’re hoping other people will buy cryptocurrency from these announcements, driving the price up. Or, more likely, they’re just hoping other people will buy cryptocurrency and not use it in these spending systems. Spending cryptocurrency would result…

What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…

Post by recursive » Fri, Feb 12, 2021, 3:03 AM UTC

b112 wrote: post #557

elyobo wrote: post #548

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I'm not sure what you mean by "lost 250% of its value" - that seems impossible, so I guess something has been lost in translation! Can you clarify?

There are loads of cases of hyper-inflation, which means that the currency's real-world value decreases. Here's the worst I've ever heard of: https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe Yes, you read that right: "However, Zimbabwe's peak month of inflation is estimated at 79.6 billion percent month-on-month, 89.7 sextillion percent year-on-year in mid-November 2008." I recall interviews with government e…