Like this:
[img]
It's a pretty picture, but there's no technichal structure to this at all.[img]
Can't read German, but I assume it is just a normal credit card with Bitcoin's logo on it.
It's not a Bitcoin-lending card.
Topic: Bitcoin credit cards? - page 4. (Read 6599 times)
Can't read German, but I assume it is just a normal credit card with Bitcoin's logo on it.
It's not a Bitcoin-lending card.
couldnt coinbase.com basically do that, your btc is denominated in usd anyway, so if they issue debit cards linked to your account then whatever the USD amount you charge will just be converted to btc and taken out of your account.... I think i will email coinbase..
i think this would be very cool and would make btc all the more useful to the average person. then again, i have no idea how that would really work in practice.
couldnt coinbase.com basically do that, your btc is denominated in usd anyway, so if they issue debit cards linked to your account then whatever the USD amount you charge will just be converted to btc and taken out of your account.... I think i will email coinbase..
I may be writing a follow-up on this soon...
Paypal’s Anonymity Play
"Instant Disposable Payment Card"
http://letstalkbitcoin.com/316/
Paypal’s Anonymity Play
"Instant Disposable Payment Card"
http://letstalkbitcoin.com/316/
A credit card backed by your bitcoin holdings could provide endless consumption due to the bitcoins that backed those credits are continuously appreciating
For example you have a credit card backed by your holding of 100 coins, you spend 10 coins' worth of dollar, e.g. $1300. The next month when you need to repay the credit card, the price of bitcoin had already risen to $143, the value of your total coin holding increased by $1300, thus your credit is expanded by $1300, you don't need to pay the bill and can continue with your spending
So, it is a new type of credit card that never need to payback, as long as your consumption is limited under certain level depends on your bitcoin holding
For example you have a credit card backed by your holding of 100 coins, you spend 10 coins' worth of dollar, e.g. $1300. The next month when you need to repay the credit card, the price of bitcoin had already risen to $143, the value of your total coin holding increased by $1300, thus your credit is expanded by $1300, you don't need to pay the bill and can continue with your spending
So, it is a new type of credit card that never need to payback, as long as your consumption is limited under certain level depends on your bitcoin holding
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But hard to see what the point is really. The only advantage might be the ability to make purchases in bricks-and-mortar shops without the need for the vendor to wait for confirmation.
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But hard to see what the point is really. The only advantage might be the ability to make purchases in bricks-and-mortar shops without the need for the vendor to wait for confirmation.
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How about payment in bricks-and-mortar shops without the need to own a smartphone?
I'm sure there are other benefits as well.
Like this:
[img]
It's a pretty picture, but there's no technichal structure to this at all.[img]
cash in change at coinstar and get a printed out key or something would be pretty cool
Like this:
It's a pretty picture, but there's no technichal structure to this at all.
I'm not sure I understand how this would work in practice.
its going to be just in papers no body going to accept this
You're just talking about a debit card denominated in BTC. But hard to see what the point is really. The only advantage might be the ability to make purchases in bricks-and-mortar shops without the need for the vendor to wait for confirmation. But I think version 9 of the client will allow for zero-confirmation purchases by doing a double-spend check. So even that advantage is likely to disappear.
Like this:
lol "bitcoin" and "credit" in the same line.
I'm not sure I understand how this would work in practice.
Give an explanation on how, exactly, it would work.
"Bitcoin credit card" is kind of general.
"Bitcoin credit card" is kind of general.
i think he means if u don't have a bitcoin to your name, but you might do next month, the same way people don't get paid their salary's untill the end of the month, thus throwing it all on a credit card.. that's where a bitcoin credit card 'could' be useful.
I think there's already something kind of functionally useful. They give out BTC "loans"
It's called Coinlenders I think...Yeah. www.coinlenders.com
Okpay or payza have cards to withdraw the balance. Would be nice that mtgox or bitstamp have something similar.
Give an explanation on how, exactly, it would work.
"Bitcoin credit card" is kind of general.
"Bitcoin credit card" is kind of general.
i think he means if u don't have a bitcoin to your name, but you might do next month, the same way people don't get paid their salary's untill the end of the month, thus throwing it all on a credit card.. that's where a bitcoin credit card 'could' be useful.
Give an explanation on how, exactly, it would work.
"Bitcoin credit card" is kind of general.
"Bitcoin credit card" is kind of general.
theoretically how it would work is a contract drawn up that someone puts X BTC into a wallet for 'a customer' with the stipulation that it is credit (a short term loan) with all the waffle about repayment terms and interest at the end of the month.
and the 'customer' then repays the credit providor with whatever the total balance is at the end of the month (credit card bill)..
BTCJam have already got short term loan structure in place so its not a big thing to do. but actually grabbing hold of the 'customer' and slapping him with a wet fish for not repaying, is much harder and more costly when it comes to international markets such as bitcoin, which brings with it more risk to the creditor (investor) and more freedom for the 'customer' to just leg it.
unless you have a list of debt collection agencies across the world to sell the debt to, allowing them to chase to non-payers.
and the 'customer' then repays the credit providor with whatever the total balance is at the end of the month (credit card bill)..
BTCJam have already got short term loan structure in place so its not a big thing to do. but actually grabbing hold of the 'customer' and slapping him with a wet fish for not repaying, is much harder and more costly when it comes to international markets such as bitcoin, which brings with it more risk to the creditor (investor) and more freedom for the 'customer' to just leg it.
unless you have a list of debt collection agencies across the world to sell the debt to, allowing them to chase to non-payers.
Do you think a Bitcoin credit card could succeed as a mainstream form of payment?
As in, the credit card contains your wallet number as a credit card has a credit card number...
Thoughts appreciated
As in, the credit card contains your wallet number as a credit card has a credit card number...
Thoughts appreciated
I'm not sure what you mean here.
If the card only had your wallet's bitcoin address, and not the private keys, what good would it be? Bitcoin is a "push" system, you wouldn't be able to use such a card at checkout.
If the card had a number on it that linked to your wallet account at some "bitcoin bank," then it might see some degree of success, but I'd be skeptical as to how long it would last, for a variety of reasons.
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