Bitcoin surpasses $50K as major companies jump into crypto

Re:Bitcoin surpasses $50K as major companies jump into crypto by rustybelt on Tuesday February 16, 2021 @06:34PM (#26160260)

Mastercard announced that they will be supporting "crypto" not necessarily bitcoin. Bitcoin itself doesn't have the capacity to support widespread adoption as a medium of exchange.

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Re:Bitcoin surpasses $50K as major companies jump into crypto by trident5000 on Tuesday February 16, 2021 @06:39PM (#26160316)

Mastercard is without a doubt supporting Bitcoin.

I think I need to break down how this works. Bitcoin L1 chain is a settlement layer where transactions are pooled per tx (its not 10 tx per second or whatever people think it is). Regardless, its L2 that processes small frequent transactions. That would be providers like Visa, Mastercard, Paypal, Circle, etc. They process the transactions and keep the account, only infrequently is it settled to the actual blockchain ledger. Then you get into the lighting network. Bitcoin can absolutely scale without issue.

nacs: because common sense

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Re:Bitcoin surpasses $50K as major companies jump into crypto by ac29 on Tuesday February 16, 2021 @09:54PM (#26162106)

"Mastercard says that it's only going to support cryptocurrencies that meet a number of requirements—including stability, privacy, and compliance with money laundering laws".

So, not Bitcoin. And maybe not any existent cryptocurrency.

https://arstechnica.com/tech-policy/2021/02/mastercard-will-...

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Re:Bitcoin surpasses $50K as major companies jump into crypto by nacs on Tuesday February 16, 2021 @06:46PM (#26160416)

> Mastercard is without a doubt supporting Bitcoin.

Source?

The only statement Mastercard has made is that they will support "crypto" on their network in the future.

They have not mentioned which cryptocurrencies they will support at launch from what I've seen.

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