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MasterCard to open up network to cryptocurrencies

reuters.com

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Re: MasterCard to open up network to cryptocurrencies

#891

Post by jkepler »

lotsofpulp wrote: post #787
Solvitieg wrote: post #612

Earlier quoted context omitted.

I'm not making claims, I'm posting my opinion about what I read on this website.

Because it’s still the best option. I know my USD tomorrow is going to be worth less than USD today. But I don’t think there is a better option for some portion of my assets, and I still trust that it will be useful to me in the future. But I also don’t keep more than a few years worth of USD, instead I hold other equities that I believe will increase in value relative to USD. USD gives me liquidity, but not necessar…

So, compare the volatility of Apple stock to Bitcoin for the last year or two. Which is more volatile, and which one has a long-term downward rate of volatility?

Re: MasterCard to open up network to cryptocurrencies

#892

Post by [deleted] »

enriquec wrote: post #841
arcticbull wrote: post #715

Earlier quoted context omitted.

“Shadow government statistics” is indeed nutters and not all perspectives deserve equal footing.

asks for evidence, gets link with evidence, dismisses as "nutters" without addressing the evidence at all. He is showed you the CPI as calculated pre-1980 with a page explaining the changes in methodology and why they're flawed. How is that "nutters"? You aren't having a discussion in good faith.

[deleted]

Re: MasterCard to open up network to cryptocurrencies

#894

Post by ajmurmann »

reedjosh wrote: post #629
ajmurmann wrote: post #588

Earlier quoted context omitted.

Hong Kong and Singapore might be great examples

TBH, I'm ignorant of these countries' regulatory systems. You may be right. What makes them good examples?

This podcast will do a much better job at explaining how solid economic policy lead success in Hong Kong: http://www.econtalk.org/neil-monnery-on-hong-kong-and-the-ar...

Of course Hong Kong is now different, but that's not because the government changed its policies, but there is a different government in power.

Singapore had the benefit of a trade port, but it kept importance as such and expanded into becoming a important financial center as well as punching well over its weight in terms of innovation. They have invested in education and provide a stable environment for business.

Re: MasterCard to open up network to cryptocurrencies

#895

Post by CryptoPunk »

simiones wrote: post #884
CryptoPunk wrote: post #856

Earlier quoted context omitted.

Commerce generally works quite well, to the point that it works even when there is no legal compulsion to not cheat. Bad actors are ostracized while good actors build followings, leading to reputation acting as an effective mechanism to find good actors to trade with, and incentivize people to become good actors. In any case, when people are free to choose between government-recognized currency and non-governmental d…

Yes, in a functioning economy. Here we are discussing what happens as an economy breaks down - as people stop being able to pay their debts, for various reasons.

I thought you were talking about economies with poorly functioning states, like say Ethiopia or Kenya. In these places, markets work quite well, they are just limited in the range of products and services they offer. They have limited access to the most useful financial and payment systems, like PayPal, due to undeveloped banking systems, blacklisting by governments of advanced economies, and bans by their own govermments.

Cryptocurrency offers a much more accessible alternative to global payment systems to the people living in these countries.

Re: MasterCard to open up network to cryptocurrencies

#896

Post by CryptoPunk »

fakedang wrote: post #867
CryptoPunk wrote: post #833

Earlier quoted context omitted.

In theory, there is nothing an autocratic government can't do to you. But leaders pay a political price for instituting draconian enforcement measures, while their country pays an economic price, which makes them less likely. It's one thing to send armed agents to storm the homes of executives of a large private bank to shake down the bank. It's another to do it against end-users at a scale where it becomes effective…

> Many don't have access to jurisdictions that can offer people in their income class that kind of security of property. For them, I think in some situations cryptocurrency can be a very secure form of property comparatively speaking. Cryptocurrency can be thought of as a poor man's offshore bank account, literally speaking. Actually I didn't mean monopoly on the law and monopoly of violence that way. I meant that bi…

>>It would be very hard for a politician to go head to head against a billionaire donor, since he would just donate to the other guy the next time.

Yes true.

>>I agree with crypto being the poor man's offshore, but a poor man wouldn't need an offshore. Not to mention, the barrier to open an offshore account is much less than the cost of BTC right now.

Offshore bank accounts are very costly and difficult to get. They are also not that secure, considering how many have given up on financial privacy in the face of the warrantless-financial-mass-surveillance aka AML push by the dominant political powers, and leaks like the Panama Papers.

Re: MasterCard to open up network to cryptocurrencies

#897

Post by rantwasp »

nexthash wrote: post #885
rantwasp wrote: post #869

Earlier quoted context omitted.

hmm. if you ever had to deal with a supply chain and understand all the moving parts you cannot make the argument above with a straight face.

Oh, and would you mind explaining to us your experience with supply chain management?

I'm not going to dox myself, but if you want to learn more about it, here are a few pointers:

https://www2.deloitte.com/us/en/pages/operations/articles/bl...

https://hbr.org/2020/05/building-a-transparent-supply-chain

https://knowledge.wharton.upenn.edu/article/blockchain-suppl...

Re: MasterCard to open up network to cryptocurrencies

#898

Post by wonderwonder »

simiones wrote: post #842
wonderwonder wrote: post #720

Earlier quoted context omitted.

This is an accurate statement when approached from a top down nation / state level. Approached from the level of an average person living in countries with highly volatile currencies, they just want a currency that is not reliably going to be less than it was the day before. It allows those people the opportunity to detach from the issue of "poor governance" over which they have no control and gives them some indepen…

If the economy is not working, people won't get the value they are used to. This can essentially be handled in 2 ways: 1. Inflation, which means that everyone is getting the money they are owed, but can't do as much with them 2. Defaults/bankruptcy/breach of contract - people and businesses just run out of money and stop paying their debts If your country can print money, you will be in situation 1. If your country c…

This is a fair point. I have never seen btc taking the place of a nations money. Rather I see it as an alternative means of storing value that can also be used as a means of exchange independent of the monetary supply. BTC will always be measured in dollars/euros/etc.

Re: MasterCard to open up network to cryptocurrencies

#899

Post by irwwwan »

tenaciousDaniel wrote: post #560
Thorentis wrote: post #528

Earlier quoted context omitted.

Why is encouraging people in such countries to use better than making the US Dollar more accessible to these people? If stability is the goal, I find it hard to accept that DogeCoin is the answer to the developing/third world's economic problems.

I don't think DogeCoin is the answer to anything at all, tbh.

Let’s see what can Elon do with his bitcoin.

Re: MasterCard to open up network to cryptocurrencies

#900

Post by RhodoGSA »

_jjkk wrote: post #880
RhodoGSA wrote: post #870

Earlier quoted context omitted.

Hmm, i think we have different thoughts about what a DEX is. Decentralized exchange allows me to conduct exchanges anonymously. I can convert back and forth between many different coins and wallets. Although it still goes on the ledger each time it's transacted, verifying who it went to, who is came from, and how it was traded is impossible. I can use a VPN to connect to the DEX, I can push my trade through a mining…

The point is, a government can make it illegal to sell goods for crypto. As well as making it illegal to transact crypto anonymously. So unless you find some black market for all your material goods, you will be FORCED to "exit" some of your crypto into fiat at some point. It is at this point that the design of BTC in particular makes it impossible to hide this "exit", because a government can easily surveil the bloc…

Again, I don't think you understand crypto very well. I can buy coins on a DEX and transfer them to my hard wallet. There's no 'Verifying' or 'Knowing my address'.

Again, your government banning selling goods for crypto makes it a better investment opportunity for the world.

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