Mastercard Attacks Bitcoin in Australia
Do you hear that? The ringing bells? See the flashing lights? Feel the Earth shake just a little? Is your "Spidey Sense" tingling? If your name were Mastercard, the answer would be "Oh, hell yeah!", because they are in the path of a train that is barreling down upon them. That train is Bitcoin, and the track this week is located in the Australian Senate, where Mastercard made a plea derail this train before it's too late (for Mastercard). Mastercard Attacks Bitcoin. MasterCard has used a submission to a Senate inquiry to argue for Australian regulators to move against the pseudonymity of....
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MasterCard may be trying to stomp out Bitcoin in places like Australia, but what they're not realizing is the fact that people want to use their Bitcoin to pay for everyday expenses, bills and utilities. Even still, rather than find a way to integrate Bitcoin technology into their business model, they're trying to find a way to get rid of it through regulation. Not only did the company use the Australian Senate investigation as a tool to express deep concern about the illegal use of bitcoins, they also released this video on the need for digital currencies. Also read: "For Everything Else,....
Happy Sunday, and welcome back to another Bitcoin News in Review, where we feature some of the biggest stories of the week here on CryptoCoins News. This week, (30 November – 7 December) MasterCard attacked bitcoin in Australia, the bitcoin mining difficulty actually decreased, the second Silk Road bitcoin auction ended, and more. Keep scrolling for this week’s biggest news. This week, payments company MasterCard argued for tighter regulations against bitcoin in Australia. According to MasterCard, “Any regulation adopted in Australia should address the anonymity that digital currency....
Extortion for Bitcoin has become more and more common within the United States, with families, businesses and even police departments under attack. Anywhere from a couple of bitcoins to one hundred or more are demanded. The problem has been domestic, but now other major Bitcoin markets like Australia and New Zealand are feeling the effects of those desperate enough for Bitcoin that they turn to a life of crime. A scourge of DOS attacks has hit the region, according to ZDNet. Extortion in Australia by an Unknown Group. The identity of the group or its participants is unknown at this time,....
The risks presented by digital currencies far outweigh the benefits, MasterCard has claimed. The global payment processor made these comments in its submission to the UK Treasury's call for information on digital currencies last November. According to the four-page submission, obtained by CoinDesk via a freedom of information request, MasterCard doesn't believe digital currency has many, if any, strong benefits. It attacks claims of digital currency's low transaction costs, low payment processing time and strong system safety. The document reads: "We would argue that, when compared to....
Australian crypto exchange CoinJar has released the first crypto MasterCard in the country. A post on CoinJar’s website confirmed that this card can be used just like a fiat MasterCard. Users get to spend their crypto with a fully-featured card both online and in-stores. CoinJar users can use their cards in stores and places where […]