3 ms·
> Will cryptocurrency effectively end up becoming just another currency/security traded and managed by giant companies Yes, that is exactly their goal. The onl
by jackson1442 5y ago
> Will cryptocurrency effectively end up becoming just another currency/security traded and managed by giant companies
Yes, that is exactly their goal. The only way Visa and MC continue to make money with crypto is centralizing and regulating it to death so no one else can enter the field, just like with payment cards today.
- jmt_ 5y agoThat's what I'm thinking too. Why would Visa invest anything in crypto if they don't think they can reasonably control and benefit off it? Risk assessment is at the very core of Visa's company and I cannot imagine they would invest in something that has unreasonable risk. Crypto is risky and difficult to predict, which makes me think they have a plan to minimize risk by controlling crypto thru means well known to them and traditional banks.
- rvz 5y agoI'm afraid you are totally correct. Involving Mastercard and Visa will allow them to put in place a similar fees structure they use for card payments for cryptocurrencies so that they don't miss out on making money with a fee system. Why do you think they 'embraced' cryptocurrencies all of a sudden and Visa making Coinbase and many others exchanges principle partners to allow them to convert crypto into fiat currency?