Coin is overrated, it’s Visa and MasterCard that’s doing a Netflix

Visa Debit Card by MoneyBlogNewz

Instead of Coin pulling a Netflix, it’s the duopoly Visa and MasterCard transforming the current credit and debit card.

It’s solving a non-existent problem: In the UK magnetic swipe is already obsolete. My credit and debit/ATM card are now a smartcard. And last year they’ve put NFC in. So no swiping ever.

Visa Debit Card, a photo by MoneyBlogNewz on Flickr.

Bitcoin is useless for money transfer

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Transferring £200 from UK to Indonesia is still cheaper on Azimo than using Bitcoins.

Here are the numbers (on 4 Jan 2014):

  • On Azimo transferring £200 is £195 net of fee, this will give me IDR 3,806,226.61.
  • Buying £200 on Bittylicious will get me BTC 0.37092883.
  • Selling it in Indonesia via a local exchange at BTC/IDR rate 9,795,700 will only give me IDR 3,633,507.54.

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No Internet access is NOT liberating

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Not having high speed Internet sucks. I don’t believe people who say they’re “liberated” without Internet, or “technology makes us anti-social”.

The fact is high speed, convenient communication links makes me more efficient.

My company is an Internet company, both its products and the way it operates. It is not liberating when you can’t easily access your customers details, or download the latest product source code.

I update myself speedily by reading tweets, news feeds, ebooks.

I purchase things in minutes from shops that is also efficiently run without showrooms.

So come on VirginMedia, fix it quickly!