Which crypto currency becomes the future payment system

Discussion in 'Digital Currencies' started by bron.suchecki, Nov 28, 2018.

  1. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Visa has entered into partnerships with companies developing blockchain technology. It’s available in Singapore and lets card holders buy goods and pay for services using either the currency of their choice or cryptos “stored" on their wallet.
     
  2. SlyGuy

    SlyGuy Active Member

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    Well, I think that's a little misleading. Visa might have blockchain options since the tech is free and simple, but Visa and crypto sure aren't friends any more than a pit bull and a cat would be...

    https://blockchainreporter.net/2018/10/12/breaking-mastercard-and-visa-to-ban-cryptocurrency-and-ico-payments-processing/

    The credit card companies and major banks have generally done the same thing with banning or requiring extra security for sports betting, online poker, international purchase, etc transactions in the past. I don't think this is a big surprise to anyone. They don't want people using their money where it tends to rapidly disappear via fraud or stupidity on behalf of the account holder. I wouldn't want someone who I lent credit to use it for speculation gambling either, so it certainly seems like logical business by the companies to me.

    Along with dwindling crypto interest from new buyers, I would bet that the MasterCard ban taking effect in October had a good effect on the crypto November price slumps? The Visa ban on transactions putting funds into crypto or crypto exchanges takes full effect mid-December. Since credit spends just like cash (unfortunately for people who bought crypto on credit this year), it might spell the beginning of the end for what's left of crypto valuations. I guess we can stay tuned...
     
    Last edited: Nov 30, 2018
  3. dozerz

    dozerz Well-Known Member Silver Stacker

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    i feel my iq has dropped just reading this thread, in a discussion about future crypto payment systems we get visa and mastercard?

    i understand the use case for crypto in the western world is diminished due to our ease of payment systems but for those that do not have such easy access (think africa and south america) crypto currencies are the difference between eating or not, is it really that hard to understand?
     
  4. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Misleading hey? :p

    The cat and pit bull are getting on just fine in Singapore. Visa have the merchant contacts and reputation, crypto.com is supplying the blockchain technology. I await your next insightful comment @SlyGuy .

    Screen Shot 2018-11-30 at 12.08.32 pm.png

    @dozerz , would it be fair to say that the vast majority of crypto projects are focussing on how to incorporate blockchain payment systems into current payment systems? Until the State relinquishes its monopoly over currency, alternative currencies will remain on the fringe.
     
  5. dozerz

    dozerz Well-Known Member Silver Stacker

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    i dont think the majority of projects are incorporating blockchain payment systems, there are so many and varied projects in this space. with further regulation coming to crypto, legislation will prohibit the many to get involved.

    i do think that usa will release a crypto version of the usd as the current fiat usd collapses, this will become the new global currency.
     
    mmm....shiney! likes this.
  6. alor

    alor Well-Known Member Silver Stacker

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    there is only one way street
    consider to belief it or not, just look at all the past currencies over the last few hundred years
    what make you think that the USD will be any different
    usd can no longer hold water in the future, if a global currency that usage is at best 30% in the world ???
    the other 70% would be the dominant player and it is not the USD
     
  7. alor

    alor Well-Known Member Silver Stacker

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  8. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Apologies I didn’t make my comment clear, I was referring to payment blockchain projects. For example THETA is a payment/video sharing platform, the developer’s intentions are not to replace fiat currencies but to enhance and incentivise the transfer of value between users. The users then of course would sell those tokens for fiat if they wish to cash them.

    Unfortunately the State is going to retain its monopoly as long as it possibly can.
     
  9. alor

    alor Well-Known Member Silver Stacker

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    Meow coins would beat Dog E coins
    they are already in space force

    [​IMG]
     
  10. hilaire9

    hilaire9 Member

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    I always thought this forum would get away from its Youtube roots, but it never did.
     
  11. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    Crypto.com announced a partnership with some mob I forget what they do, running shoes I think allowing customers to pay with crypto
     
  12. Lucila Chavez

    Lucila Chavez New Member

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    As I remember that some e-currency will be used in online casinos in Europe to secure users, so you now don`t need to use visa and it will be much, It was announced a few days ago, I`ve read it on https://tokensdaily.com. And in nowadays there're a lot of things we use instead of cryptocurrency like credit cards, bonus cards. I think in a 20 years governments will use cryptos or make there own.
     
  13. pmbug

    pmbug Active Member

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    Iran has supposedly developed a gold backed crytocurrency. *If* it finds traction amongst trading partners that wish to bypass US sanctions, it could be one to watch.
     
  14. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Who would trust Iranian government, doubt even Libyans or Syrians would accept payment with it.
     
  15. Lucila Chavez

    Lucila Chavez New Member

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    Dome of the people think that currency has to be backed by gold... any progressive countries will support it, cause gold standards are like too old thing for our economy... I think it will be a failure
     
  16. JulieW

    JulieW Well-Known Member Silver Stacker

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    Be that as it may, I enjoyed your website.
     
  17. systematic

    systematic Well-Known Member

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    JP Morgan Chase boss once called bitcoin a ‘fraud’, now the bank is issuing its own crypto

    A major bank will become the first of its kind to issue its own form of crypto, less than 18 months after its boss said the form of currency was “stupid”.

    Jamie Dimon once called bitcoin a “fraud” — but now he’s leading Wall Street’s push into cryptocurrencies.

    Dimon-led banking behemoth JPMorgan Chase will reportedly start issuing bitcoin-like digital currencies called “JPM Coins” to other institutions and accredited investors, making it the first major bank to issue its own form of the digital money.

    [​IMG]
    JP Morgan Chase chief Jamie Dimon goes from bitcoin sceptic to pusher.Source:AFP

    The JPM Coins would be worth a dollar each, and would largely be used to speed up transactions, settlements, and treasury services, Umar Farooq, head of JPMorgan’s blockchain projects, told CNBC.

    “So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction,” Farooq told the outlet.

    [​IMG]
    JP Morgan will become the first major bank to issue its own form of the digital money.Source:AFP

    The bank plans to start testing the coins in the next “few months,” but it would likely be limited to a small slice of the $6 trillion in daily transactions and fund movements, CNBC said.

    In 2017, Dimon was a vocal sceptic of bitcoin, calling it “stupid” in addition to fraudulent, and vowed to fire any of his traders he caught trading the digital currency.

    “I wouldn’t put this high in the category of ‘important things in the world,” the brash billionaire banker said in 2017.

    Since then, the bank CEO has apologised for calling it a fraud, and said the technology behind bitcoin, called blockchain, had real applications for the financial industry.

    [​IMG]
    The JPM Coins would be worth a dollar each, and would largely be used to speed up transactions, settlements, and treasury services.Source:istock

    Large Wall Street institutions have been wary of using blockchain technology, which is relatively untested and can be expensive and buggy.

    While Goldman Sachs has reportedly shelved a crypto trading desk, banks like Citigroup have invested heavily into how to use blockchain technology.

    https://www.news.com.au/finance/bus...o/news-story/327b7c31a62e62889ea924d0ce7a11c5

    A criminal banker that should have been jailed and probably the same slag that made a nightmare out of derivatives are now working on cryptos ...
     
  18. Soprano16

    Soprano16 Well-Known Member Silver Stacker

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    Heard about that earlier this morning - might be a threat to XRP, but it will never be "the payment system"

    Without looking into it too much, looks like it's probably just going to be used internally for their business needs right? Wouldn't surprise me if every other bank starts doing the same - why use XRP when they can just create their own? Again I'm saying this without really having looked into it all, so probably foolish on my end but whatever
     
  19. Tokyo

    Tokyo Member

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    Dash is very unique ( Masternode) 7.5-8% return
     
  20. Tokyo

    Tokyo Member

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    Masternode holder get to vote where money going to spend for improvement. Dash Having access to the node float make the trans action faster than anything (light speed?)
     

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