How do you think the Bitcoin debit card will affect prices? - page 2.

Elwar

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Quote from: Wilhelm on April 25, 2014, 02:06:50 AM

Cool this would a great adapter allowing the masses to get into bitcoin....
If Western Union or another company starts doing worldwide fiat to bitcoin orders and visa versa then we're practically ready for the masses.

Only one downside.... Xapo has your bitcoins do you trust them? Undecided

Nowadays trust seems to be an issue Wink

They are backed by millions in VC money. They are here to stay.

I would trust them with enough BTC for a week or so of spending money.

Wilhelm

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Cool this would a great adapter allowing the masses to get into bitcoin....
If Western Union or another company starts doing worldwide fiat to bitcoin orders and visa versa then we're practically ready for the masses.

Only one downside.... Xapo has your bitcoins do you trust them? Undecided

Nowadays trust seems to be an issue Wink

Raystonn

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Chinese can use this card to spend their BTC. No need for a Chinese bank.

Elwar

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Quote from: bigdude on April 24, 2014, 11:33:47 PM

Its not 1.2% per year.

It's .12% per year for cold storage vault.

The wallet is free.

Even better.

bigdude

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Its not 1.2% per year.

It's .12% per year for cold storage vault.

The wallet is free.

Elwar

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I believe this company has got it right when it comes to a Bitcoin to debit card business:
http://www.coindesk.com/xapo-launches-bitcoin-debit-card-accepted-at-all-mastercard-locations/

This is the Bitcoin MasterCard we were all drooling over a few years ago but never came to be.

You store your bitcoins in the Xapo wallet either in cold storage or a hot wallet. You swipe your card at any place that takes MasterCard just as you would do with any other card and they check to see if you have enough bitcoins in your hot wallet to cover the price. If you do, the coins are automatically exchanged for the cost of your purchase.

I think that right now the biggest question is the cost. If it is just their 1.2% yearly fee of holding your bitcoins in their vault, then this is a huge step forward. Especially if they can get your bitcoins to you in whatever currency of the country you are in. As someone who has traveled to several countries, the costs of converting to local currency suck big time. If people are able to use this card and travel the world, they would be ahead of all other credit card companies.

This could cause a huge swell in adoption.

Topic: How do you think the Bitcoin debit card will affect prices? - page 2. (Read 1926 times)