23 Oct '13, 5am

Mastercard Hates Bitcoin by @tbuhl via @CharlieShrem #payments #VISA

The new boss in charge of giving out a MasterCard licenses has no intention of allowing the brand or any bank that does private label cards to use Bitcoins. In fact, he nearly bragged to me about killing the BitInstant deal with a U.S. bank for the first planned $BTC card this year. Stephen Ruch, the heavyset MasterCard executive, is just a year into his job with the company, and while he monitors the Bitcoin space he told me he is still under the impression it’s one big Ponzi scheme. Even after meeting with this person socially multiple times, where I explained the mechanics of how digital currencies actually work, he still had a blind eye to its legitimacy. His biggest fear was it would ‘hurt the MasterCard’ brand. RT’s most popular TV journalist, Max Keiser , weighed in on MasterCard’s fearful attitude telling me, “We can say without equivocation that firms like MasterC...

Full article: http://www.teribuhl.com/2013/10/22/mastercard-hates-bitco...

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