“FOR EVERYTHING ELSE, THERE’S BITCOIN” – AN AUSTRALIAN RESPONDS TO MASTERCARD ATTACKS ON BITCOIN

James Duchenne, Australian attorney, founding member of Texas Coinitiative, and blogger for SatoshiLegal, quite cheekily responded to the recent pleas by MasterCard to the Australian government against Bitcoin today. 

Said pleas have culminated in two important ways: the video shared below from MasterCard’s Southeast Asia president Matthew Driver, and a letter to Kathleen Dermody, head of the Australian Senate Economics committee. Duchenne wrote:

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MasterCard Executive Argues Bitcoin Can't Be Trusted

In a new video, Matthew Driver, MasterCard’s president for South East Asia, issued a strong rebuke of digital currencies like bitcoin, suggesting that cryptocurrencies carry too many risks to be successful.

Noting that MasterCard is "not completely comfortable with the idea of cryptocurrencies”, Driver used the video as a platform to blast the technology as "against the whole principle" on which the credit card giant has established its business.

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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).

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