Things are just starting to get interesting as Tesla buys $1.5B of Bitcoin and says they will start accepting Bitcoin.
Al Kelly, the VISA CEO says they are in a position to make cryptocurrencies "safe, useful, and applicable".
"Our strategy here is to work with wallets and exchanges to enable users to purchase these currencies using their Visa credentials or to cash out onto our Visa credential to make a fiat purchase at any of the 70 million merchants where Visa is accepted globally"
Al Kelly - VISA CEO
Kelly mentioned in the recent earnings call that Bitcoin is not used in any significant way for payments. While I don't agree fully with his statement, VISA support would be a key milestone of mass adoption. He also goes on to mention stable coins use in "global commerce".
VISA has already been aligning themselves with crypto for a while now on their website.
Over the last few years more and more exchanges and financial organizations have been offering ways to use Crypto as credit with companies like Binance, Gemini, and others start to offer private credit cards backed by individual crypto holdings.
Just a few months ago PayPal announced support for Crypto and while they still are rolling out the feature, would enable millions of "normies" to get their hands on and use crypto. Which is fairly ironic considering how aggressive PayPal has been against crypto in the past. When Bitcoin is selling for over $40,000, people start paying attention.
It's a brave new world and this is really only the beginning.
Why you should vote me as witness
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Now mastercard
I already happening.
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that's what I meant lol
PayPal doesn't let you buy crypto, just exposure to the price of crypto. You don't actually own any crypto.
Fuck PayPal and fuck Visa. They are the enemy. Their embrace is unwelcome, but nothing we can do about it. Doesn't mean I'm going to kiss them back!
Crypto isn't ready for mass use until there's privacy and decentralization. NOTHING about crypto is currently private or decentralized in any way whatsoever. I'd know, I've been trying to use it that way for years, with zero results. Crypto needs to come through on the privacy and decentralization promises, or its core audience will abandon it to the banks and big tech.
If it's not a tool for the people, doesn't matter what the price goes to.
The cryptocurrency market is very fast and active. Recent developments in Bitcoin have been very unexpected. Let's see what happens next...
Exciting times a head for sure, well this blows my comment about Bitcoin running out of time. Great to see fed reserves looking at Defi and no where near Bitcoin.
Defi is such a better product.
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Ok, let's see what will happen. 👏 😎
First they ignore you, then they laugh at you, then they fight you, then ...
Visa acceptance would be huge for BTC
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I still feel we are all early to the party.
we are at the equivalant stage where apple was about to launch the iPhone, only bitcoin will be magnitudes bigger than Apple.
I don’t know...Apple reinvented the phone and made it something literally a majority of the world carries in their pocket. It’s pretty much a necessity at this point. But I get your point and hope you are right!!!
im referring mainly to share price, and the beginning of Apples rise to the household name it is today.
Ah, that I understand and agree with!
Bitcoin is having the most exciting time ever and puting the world in new decision making, all kudos to Tesla
Very cool, and yeah they'll have to work with wallets and exchanges until they build their own? Stable coins is where it's at imo for bridging the merchant consumer gap in crypto, at least short term. Like with Binance Pay, utilizing stable coins to allow the transaction to stay in crytpo pretty much end to end.
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They pushed bitpay off visa and onto mastercard a year or so ago.
2021 continues to be full of exciting announcements!
It'd be nice being able to spend crypto anywhere with a visa card and they handle all the conversions and all that, saves me the hassle of trying to sell into fiat.
My witness node - Stream on Vimm.tv
C0inbase been sittin on that awhile now, I've been 'in line' for close to a year.
Corporations fearing the change and don't want to be left behind?
I'm just not looking forward to when they get their greedy hands in the game and take away everything crypto was first built to battle against.
very well .... the blockchain world cannot be stopped, Mastercard has understood that it is better to use it
All I can say is...
"Watch this space"
Exciting times ahead for us crypto veterans.
Visa declaring an interest in crypto is extremely bullish news. The mainstream media can no longer support the narrative that crypto is only used for illegal activities and such. This is only the beginning indeed.
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it is amazing to me how fast things change.