Mastercard Might Process Bitcoin Payments Soon

in bitcoin •  4 months ago

Hey people of steem,

First I want to say my prediction of bitcoin price going up a lot has come true. Here is the link: https://steemit.com/bitcoin/@whatageek/why-the-bitcoin-google-stat-is-misleading. It was made 6 days ago when I thought we were ready for an upswing. So you can call my the next buffet :p.

But for today lets talk about Mastercard. There has been a lot of good news in the market lately but besides a possible ETF in Augest this is the biggest. Mastercard has gotten a patent for a process to speed up crypto payments. Now this in itself is something as it is a new step for the crypto and says that mastercard is probablt getting into crypto. But the big push comes from what could come from this patent. The most logical step is mastercard is gearing up to having bitcoin on its cards.

It is too early to tell and they could be using this patent on a seperate product from their cards but the possibility of using a mastercard to spend crypto is a big leap. This is the only thing missing when people argue about using crypto as cash. The infrastructure is there for credit cards and if you could load your cards with crypto then you can literally use crypto around the world at any store that accepts mastercard.

Again it might not be for the credit card but having mastercard involved is good news either way.

Here is the link for more info:
https://www.coindesk.com/mastercard-wins-patent-for-speeding-up-crypto-payments/

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Do you know wist I find even more special?
That the Bitcoin price was almost 1 week stable. And with stable I mean it changed less than 10% and almost my up and down swings during the week. Based on historical data I would say the chances are very small that will happen again.

While you basically got something like 25%-50% chance with your prediction.

If you really think you're Buffet then I can do you a proposal to bet on next weeks price. Are you interested?

The news itself might not be making the headlines but what it represents will make the headlines for sure.
It is doubtful that Master card would waste resources on something that they don't thing would succeed. They know what's coming and they are preparing for it.

While I do think this is surely good news for crypto, I think it still needs to go some lengths until it is ready for such mass adoption. It is pretty difficult in itself to explain to my parents what crypto is, let alone what a private key or a mnemonic seed does, and currently they are essential to know if one wants to use crypto. Of course, if any Mastercard terminal would accept crypto, that in itself would already solve some of these problems. Then we get to the (bigger) problem of actually convincing people why they would want to use crypto over the legacy systems in the first place. :D

That would be so amazing :D

Interesting news

Absolutely ! We may not be able to refuse the fact; But Mastercard needs to think upon it for sure.

At last an upswing. Lets hope it continues.

I highly doubt it will happen... yet if it does workout

TO THE MOON!

once again it'll be really hard b/c bitcoin needs to improve transaction fee & speed.... even it solves those issues there are more things to go such as "refunds and so forth...."

This is a positive. I can't wait for more good news.