Topic: Bitcoin Debit Card is NOT the solution to decentralized currency (Read 2186 times)

Hear lot about this urocoin. word is that they want to make big.
Can remember for what country was this read something about it before month or so.

Instead of using the mango example above, Urocoin is a perfect example: http://urofoundation.wordpress.com/about/

If it gets Bitcoin coin in the hands of people easier then it is a great temporary solution.  When it comes to Bitcoin the more options the better at this stage.  As long as people aren't forced to use it then there isn't anything wrong with giving them the option, just my two cents.

So do you guys mean to say that Bitcoin value should be independent of all the other national currencies?

Exactly. It would create the problem ALL OVER AGAIN. The point of bitcoin is 21 MILLION COINS, NO MORE.

I agree. It will bring more complications than comfort.

Absolutely there should not be any involvement of USD in the bitcoin game.

Yeah that's a logic problem. Maybe we should get through it more carefully

I didn't even read your second example... What is that, how would a global price for goods, or services, or anything, ever happen?

Maybe the truth is yours but i don't think that the example of how people can go to store and buy a mango shows a real picture with Bitcoins.

A card as you describe would have the exact opposite result, since you can't deduct any amount of cryptocurrency from an address without having the private keys. No-one in their right mind would give a merchant their keys. The workaround would then be to have the card linked to an account provided by some "trusted" 3rd party. This means off-chain transactions, and giving these account providers the opportunity to issue more cryptocurrency-denominated IOUs than they actually have currency to back.

I can see Bitcoin Debit Cards becoming a success to be honest, they are ideal and what everyone already uses anyway and it would be a lot easier and maybe even safer to have a debit card to pay for things rather than the way we do it now. I personally would like to see something like this happen but I fear it could be a way off yet as I would imagine there would be quite a lot to do to ensure it was at least some what safe.

That's not the problem. The problem is that it's just another "hosted wallet", which in the Bitcoin world usually means "we're going to steal your money".

I don't think any service would actually link the debit card to the USD. What my understanding as to what happens is that when you use your debit card the service will sell the bitcoin in your "account" for fiat on an exchange, and use that money to pay the merchant for your transaction. The rate you would pay would be based on the exchange rate at the time.

A debit card that pays in terms of bitcoin would likely be a bad idea. I cannot see any implementation of this without exposing your private keys anytime you swipe your card.

Governments do give a certain level of trust... leaving the markets to operate completely by themselves would require huge market cap ... I mean now there's a whole load of market distortion I'm certain, which you don't get in even slightly regulated markets.

Bitcoin is probabbly always going to be pegged to USD unfortunately, but I don't think that's necessarily a bad thing.

I don't think there's anything wrong with bitcoin debit cards. I think they'll spread more adoption, particulary those who are not experts with the technology or comfortable using a wallet on their smartphone etc. I think they'll definitly be beneficial.

yes one step at the moment.

Need to pass lot more that this, it need to be accept on larger scale and bigger companies must be involved in this so that average person who dont now anything about btc have some faith in it.

And we can do this by getting stores to accept the card. I'd rather have them accept this than nothing. I'm sure eventually they may bypass the card and just accept btc straight anyway, but babysteps at the moment.

Bitcoin Debit Card linked to the scam USD is NOT the solution to decentralized currency because it is still using the base currency known as the scam USD, ect...

People need to get stores to accept some form of cryptocurrency such as: Bitcoin, NXT, BitsharesX, Dogecoin, ect...
Consumers can pay using a plastic card that only link to cryptocurrency. The goal of this is to completely bypass the scam USD that's control by central banks.

Example:

A customer walks in to a store and pay using a plastic card that's only link to a certain cryptocurrency (Bitcoin, Dogecoin, NXT, BitsharesX, ect...)
The store takes that plastic card and swipe in the card reader and it deducts the amount in (Bitcoin, Dogecoin, NXT, BitsharesX, ect...).

This is the only way people be able to keep track of the total supply of the coins being distributed. The goal of completely bypassing the base currency USD is to allow the consumers to keep track of the total money being printed. This is the only way they can be reassure that their hard earned labor is not being taken advantage by some silly bankers.

New Challenge to Developers:
Developers must develop a magnetic strip card reader to function with their cryptocurrency.
https://bitcointalksearch.org/topic/magnetic-strip-card-reader-to-function-with-their-cryptocurrency-767779

Bitcoin debit cards stand alone version is a good idea.

But, Bitcoin debit cards linked to the base currency USD is a bad idea.

Because the bankers & their silly children can artificially inject unlimited supply of the scam USD into their "Bitcoin Debit Card" to purchase goods for free (not even for cheap, but for free) as long as the stupid humans continue to use their scam USD currency.

Example #2:
People go to store to buy an a mango using Bitcoin, that mango must have the same value for sale as the other mango for sale all over the world.
The price of a mango cannot be purchase for less or more in other country. I'm using mango as an example that represent all fruits, food, human labor, ect...