Topic: Bitcoin backed paper money (idea) (Read 2859 times)

never say never, dude. unexpected things tend to happen these days more and more.

Actually, if you compare to the whole actual process, time and fees are reduced. We will implement exchange-on-swipe soon.

Ok checked out the FAQ of the debit card. I must admit it sucks because it's just another pre paid card. It will not convert the required number of bitcoins on demand. Don't use ANX because they make it seem special while in reality it is just another lame pre paid credit card that simply accepts bitcoin payments for initially loading the card with dollars!

Check out xapo's FAQ for comparison. Id rather use xapo, but unfortunately they're not shipping cards yet.

ANX Debit Card is the best, since we are the only company that has shipped them. Ever. So we're the first to actually get working debit cards to customer's hands.
Also, this is not a phishing attempt, ANXBTC and ANXPRO are both brands of ANX.

Anything that can be manipulated with governments (USA, Russia, China and EU) wont pass any law that needs to bee involved on btc accepting in real life shopping (bread,milk....).

Reason are above Governments will never accept Bitcoin to back the fiat money, for the simple reason. Bitcoin cannot be manipulated.

Governments will never accept Bitcoin to back the fiat money, for the simple reason. Bitcoin cannot be manipulated. {Set amount of bitcoins determine the outcome} They might accept a Alt coin, where the
amount of coins being mined, could be manipulated by them.

Basically that mean if I order it a can use it on vocation for purchasing only if that country that i was going to has one.

Or I get it from. Now that u can buy from all over the world but main question is above.

ANX Debit Card is the best, since we are the only company that has shipped them. Ever. So we're the first to actually get working debit cards to customer's hands.
Also, this is not a phishing attempt, ANXBTC and ANXPRO are both brands of ANX.

I don't know about BitBills but it's true that counterfeiting will be a problem. I figured that if we face the same problem with conventional paper money anyway and still use it then it must not be that big of a problem.

Casascius coins include private keys themselves which is kind of different from my perspective. I wouldn't include the private keys with the coins themselves but let some trusted entity hold them. Trying hard to play the devil's advocate on the matter but I must admit it is not easy

Even though paper money backed by bitcoins is superior to paper money backed by gold, it is still less functional than using bitcoins directly.

Maybe the possibilities of multi signature addresses/transactions would add something useful to the equation?

Or maybe the notion of decentralized paper money backed by individuals would spark some new ideas?

Using some standard note template, a person would print its own money. The note would be target specific, so that the receiver's address is taken immediately before printing and the note is funded right after printing. The third party of such a multi signature address/note would be some trusted entity.

Why such a construct would be required? Basically only in the situations where the receiver has no smartphone but wants to receive bitcoins. The receiver would have to still know their bitcoin receiving address or its firstbits. If bitcoin differentiates between the order of signatures in a multi signature address then the address could even specify the paying and receiving addresses. The trusted entity would not allow the reversal of the transaction before 30 days for example, allowing the receiver to safely access their credit. Just throwing things out there but seems that this solution will not find its real practical problem.

a phishing attempt? there's also anxbtc.com

anyway, seems there are many entities providing bitcoin debit cards.

https://bitplastic.com/ boasts to be totally anonymous for example.

the question now is -- which one of these is the best?

Guys, ANXPRO has a Bitcoin Debit Visa card. How did you miss the news? Go check it out.

Why would that be better?

Also, this card seems like a really nice piece. Who has pre-ordered it? Should I pre-order it or rather wait for it to go live and see what happens in the news? Maybe xapo will get banned for money laundering or tax evasion?

Hopefully, sometime in the near future there will be a debit card that is issued as part of a more major debit card network, or even as part of the visa network.

Sure it is but only if there are more places that can be payed with this card. This would be the future for sure.

This is actually an awesome thing: https://xapo.com/in/campaign/debit/?src=facebook , a Bitcoin debit card