Bitcoin-Credit Card - page 6. | Bitcointalksearch.org

n2004al

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Quote from: Lesterexon on November 19, 2015, 04:00:39 AM

I don't think bitcoin credit cards are really nessecary

The way credit cards work is like a loan, you pay it off later, you'll need a company to set this up to be able to loan bitcoins to their clients

For what is necessary read the above my post. As for the other things written in your post read below.

What are you talking about? What have to do the loan with the credit card. If i have revenue in bitcoin I can deposit or send the amount of (the needed) bitcoin to the provider of the card the day in which i must pay all the expenses made with my bitcoin credit card. That's all. Everything finish here. I pay my debt to the provider of the bitcoin credit card and the next month begin the same story from the beginning. I can use it again for everything I do or need. It is so simple like one and one make two.

LuckyYOU

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Well, you need a company that holds a bunch of bitcoins, enough to give out loans to people

I doubt that there's anyone/company that holds that many bitcoins to even give out loans

Credit = loans, you eventually have to pay back

anthonycamp

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i mean its money if theres a company that lets you use btc credit you can use it but since its decentralized i dont think a company will use btc as credit or card debit i bellive into atm machines of btc can be done

NeuroticFish

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Quote from: Huobi-USD on November 02, 2015, 03:09:09 AM

People are becoming increasingly accustomed to using bank cards. Now, with the increasing penetration of mobile and P2P payment systems, the necessity to use cash is quickly becoming obsolete.
Which do you think is the relation between bitcoin and credit card? Don't you think the use of credit card works as the same way as bitcoin does?

Using a credit card usually means/involves some sort of loan in a certain currency (usually your country's).

Bitcoin credit card would mean a loan in Bitcoin. And you can spend that either as Bitcoin, either as fiat.
The users will pay back directly Bitcoin, which is interesting.
This could make sense if somebody would take the risk to offer high volumes of such credits. I don't think that we have such big companies that would want to offer such services, especially as I don't see that many potential users. It could be a business for companies that already work with huge amounts of Bitcoin like exchanges or gambling sites, which can use parts of the deposits for new businesses instead of "cold wallets".

Lesterexon

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I don't think bitcoin credit cards are really nessecary

The way credit cards work is like a loan, you pay it off later, you'll need a company to set this up to be able to loan bitcoins to their clients

n2004al

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Quote from: Pierre 2 on November 02, 2015, 11:56:12 AM

I am not sure if we need something like bitcoin card currently. Everything seems easy and secure.
Cards will make it unsafe.

First needed in order to have the possibility to buy things out of internet. There are to many things that needed to be bought out of internet or are to many the people which don't feel secure when use their credit cards at internet. For such kind of things needed the bitcoin card. And then why can be unsafe? If the service is build as it is needed from the card provider the bitcoin card can be very safe. My actual credit cards allow me to assign the limit which can be used in internet. If I want to use it in internet change before the limit (increase it in the amount i want or I need), use it and then make the limit again zero. Even if someone has all my data of my credit card can't do nothing with those. Then if my credit card is stolen (and even if the thief can know my pin) I can block my card within minutes by calling the call center of my bank. If the bitcoin card can offer such services I don't see any risk in this kind of cards.

visual111

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there are existing services like coinomat that enable you to load credit cards with value derived from your cryptos into whatever fiat you so choose

Blawpaw

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As mobile payments are being introduced for everyday use, I actually think that we will see a strong decrease in people using credit cards. Many Banks already offer other options to be used with smartphones that are much more similar to bitcoin than credit cards. Sooner or later, banks are going to introduce digital currency on these new mobile payment options to cut transaction expenses.

spazzdla

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I can't see why Visa, AMEX, etc couldn't operate using BTC as what they loan to you..

USD,
CAD,
Yuan,
BTC,

all the same to them really they aren't a central bank and can't loan out thin air backed by the armies of countires.

smith coins

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Quote from: Pierre 2 on November 02, 2015, 11:56:12 AM

I am not sure if we need something like bitcoin card currently. Everything seems easy and secure.
Cards will make it unsafe.

Well these are already in the market and being used by users.
I think this is a good way if we need to store our bitcoins and not exchange immediately to cash.
But waiting and spend only when we need urgently for emergencies situation. (forget the fee)

Pierre 2

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I am not sure if we need something like bitcoin card currently. Everything seems easy and secure.
Cards will make it unsafe.

biggus dickus

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If your debit card details get stolen then money can be stolen from your account, whereas your Bitcoin address can't get stolen. Bitcoin is a more secure payment method than debit cards, but it's slower without an intermediary like Bitpay. Bitcoin debit cards like the Bit-x cards are useful for fast transactions, but I would prefer to use nothing but Bitcoin if it gets as widely adopted as debit cards.

ranochigo

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Crypto Swap Exchange

Quote from: MoneyShot2 on November 02, 2015, 05:41:26 AM

Would serve as a prepaid card, but not as a credit card, but a prepaid card's not the same thing. then it is equally good or better to exchange for real money at once.

If you buy one from the goods section, it would be a prepaid card requiring you to load money and wait for several days. This is much different in a sense, you can deposit Bitcoin and withdraw fiat on demand. (CMIIW)

Most exchange requires you to wait for several days too.

MoneyShot2

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Would serve as a prepaid card, but not as a credit card, but a prepaid card's not the same thing. then it is equally good or better to exchange for real money at once.

Mickeyb

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Move On !!!!!!

Both Bitcoin and credit cards have their advantages and disadvantages. They both work well in my opinion, even credit cards work well at the moment for their users. I don't know why would users of credit cards change their payment methods if it works well for them.

We need to concentrate on other use cases that these credit cards can't fulfill. There are many out there really. And who wants to change their credit card payments for Bitcoin payments will do so as well.

Lituation

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Free Speech is the most important thing.

If you use credit card you have options to pay later. In cash and Bitcoin you have to pay what you already have in your pocket/wallet. They don't work the same way. You can compare this to debit (prepaid) cards but not credit cards.

SimpleIn

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Quote from: Huobi-USD on November 02, 2015, 03:09:09 AM

People are becoming increasingly accustomed to using bank cards. Now, with the increasing penetration of mobile and P2P payment systems, the necessity to use cash is quickly becoming obsolete.
Which do you think is the relation between bitcoin and credit card? Don't you think the use of credit card works as the same way as bitcoin does?

mastercard has recently invested in a bitcoin

ajrah

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that would be nice if there would be a Bitcoin Credit Card, but I think if this happens theres a need of proof of financial capacity so banks can give you higher credit limit and in that case there will be no more annonimity of Bitcoin holders since they need to check your proof of income.

NorrisK

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Quote from: Blue_Tiger73 on November 02, 2015, 04:44:24 AM

Quote from: crazyivan on November 02, 2015, 04:35:26 AM

As long as BTC does not get widely accepted, we re going to need some way of transferring BTC to FIAT, fast. So yes, we still need BTC cards and we will be needing those for a couple of years more. I like Bit-X, a very nice one.

I don't think that Bitcoin credit cards have been made but there are Bitcoin debit cards and Bitcoin ATM's. You can find some more information here and here.

I guess you are right in the sense that you cannot spend bitcoins on credit at the moment.

There are however, options to use your bitcoins at places where credit cards are accepted, such as with the xapo credit card. Only thing is you are using your own stash of coins there.

n2004al

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Quote from: Huobi-USD on November 02, 2015, 03:09:09 AM

People are becoming increasingly accustomed to using bank cards. Now, with the increasing penetration of mobile and P2P payment systems, the necessity to use cash is quickly becoming obsolete.
Which do you think is the relation between bitcoin and credit card? Don't you think the use of credit card works as the same way as bitcoin does?

The bitcoin and the credit card can be an fantastic connection but yet early to talk about it. To speak about this connection and to see it true needed that the owner of the credit card have continuous revenues in bitcoin. Such possibility is very rare actually so having a credit card connected with an account with bitcoin could be possible only for very few people. As for the same way of work of the credit card and bitcoin and don't see any change. Maybe are the fees which must be paid with the use of credit card. But if you must buy bitcoin in order to use it we are at the same point. On the other hand there have no meaning to buy bitcoin in order to use those in internet. Have meaning only if yo have revenue in bitcoin. So, as a conclusion, bitcoin normally must be more convenient to use as a money in internet compared with the credit card. And the credit card must be used (connected with an account) only in if the use have revenue in bitcoin.

Topic: Bitcoin-Credit Card - page 6. (Read 3491 times)