Meanwhile in lower Manhattan..... | Bitcointalksearch.org

Ente

legendary

Activity: 2126

Merit: 1001

Quote from: matmar10 on October 11, 2012, 04:01:16 AM

FWIW, launching a card product is complex and experiences many unforseen, unavoidable delays. Even if you have hundreds of millions of dollars in the bank, the wheels of big corporate bureaucracies seem to move painfully slow from the perspective of those used to moving at ~~internet~~ Bitcoin speed. There's so many different entities involved, each with critical paths and potential disruption points; at a bare minimum you have: BIN sponsor, issuer-processor, card network, card bureau (manufacturer), and program manager. Shocked

Plus, card networks have all these strange "blackout" periods throughout the year where nothing is allowed to get done. If you slip a milestone and some important component falls into one of those windows, your whole project timeline stretches out like salt water taffy on a hot summer day. Even once you have everything approved and locked-and-loaded, you can miss a manufacturing window and get delayed additional months, etc...

Having personally project managed a card product from beginning to end, I can sympathise with the lack of being able to provide a firm date. Cry

Thank you for those insights!
Yes, we surely are used to some pace here.. ;-)

Ente

matmar10

newbie

Activity: 47

Merit: 0

FWIW, launching a card product is complex and experiences many unforseen, unavoidable delays. Even if you have hundreds of millions of dollars in the bank, the wheels of big corporate bureaucracies seem to move painfully slow from the perspective of those used to moving at ~~internet~~ Bitcoin speed. There's so many different entities involved, each with critical paths and potential disruption points; at a bare minimum you have: BIN sponsor, issuer-processor, card network, card bureau (manufacturer), and program manager. Shocked

Plus, card networks have all these strange "blackout" periods throughout the year where nothing is allowed to get done. If you slip a milestone and some important component falls into one of those windows, your whole project timeline stretches out like salt water taffy on a hot summer day. Even once you have everything approved and locked-and-loaded, you can miss a manufacturing window and get delayed additional months, etc...

Having personally project managed a card product from beginning to end, I can sympathise with the lack of being able to provide a firm date. Cry

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

What card? I haven't seen any cards yet.

Yuhfhrh

full member

Activity: 238

Merit: 100

Quote from: luv2drnkbr on October 08, 2012, 03:24:31 AM

Quote from: caveden on October 04, 2012, 09:52:11 AM

The card will be associated to a single, static address?
If someone finds out my card address, s/he will be able to know how much I've put and will put in the card?

I hope you implement a way of generating disposable addresses to fund the card. The static printed address might be practical in some situations, but its use should be avoided - you should also explain why to your clients.

Despite that, congratulations for your development! You're already a valuable resource to this community, and it gets better by the day.

Yeah, the card's purpose is not at all anonyminity or even safety. It is designed to do two things, which it will do very very well: first, to allow people to instantly sell btc for fiat and be able to access that fiat instantly (yeah yeah, we'd all like to use bitcoin to buy things, but in the meantime, this is a good solution); and second, it is a great conversation starter for introducing people to bitcoin. Now they know about bitcoin, and they also know it's as easy to spend as "real" money. Now they might get interested... (And hopefully, they'll learn enough to wish they didn't have to use a card to convert back to fiat!)

That card is a great thing for bitcoin, anonymity and security be damned!

Exactly.

caveden

legendary

Activity: 1106

Merit: 1004

Quote from: luv2drnkbr on October 08, 2012, 03:24:31 AM

That card is a great thing for bitcoin, anonymity and security be damned!

Quoting for posterity.
Such rationale might explain many things that happen around here.

caveden

legendary

Activity: 1106

Merit: 1004

Quote from: oldschool on October 05, 2012, 09:55:04 PM

Quote from: caveden on October 04, 2012, 09:52:11 AM

The card will be associated to a single, static address?
If someone finds out my card address, s/he will be able to know how much I've put and will put in the card?

I hope you implement a way of generating disposable addresses to fund the card. The static printed address might be practical in some situations, but its use should be avoided - you should also explain why to your clients.

I see that as a mute issue, I'd rather protect my actual CC number than my public bitcoin address.... With the CC number they could spend money, with the bitcoin public address they could look up money on just that address.... who cares? It's easy enough to find someones public bitcoin address,

That's the point, it's not that difficult to find someone's public address. It's not the fact that it's physically displayed in the card the problem, since as you say, the CC number is also there. It's the fact that only one funding address exist. Even people to whom I'd never show my CC could eventually discover my funding address.

Why not also provide a page where you can dynamically generate a new address to fund your card, every time you want to do so?

PS: I'm supposing there will only be one funding address per card. Perhaps that's not the case. One of the points of my original post was to confirm that. Wink

luv2drnkbr

hero member

Activity: 793

Merit: 1026

Quote from: caveden on October 04, 2012, 09:52:11 AM

The card will be associated to a single, static address?
If someone finds out my card address, s/he will be able to know how much I've put and will put in the card?

I hope you implement a way of generating disposable addresses to fund the card. The static printed address might be practical in some situations, but its use should be avoided - you should also explain why to your clients.

Despite that, congratulations for your development! You're already a valuable resource to this community, and it gets better by the day.

Yeah, the card's purpose is not at all anonyminity or even safety. It is designed to do two things, which it will do very very well: first, to allow people to instantly sell btc for fiat and be able to access that fiat instantly (yeah yeah, we'd all like to use bitcoin to buy things, but in the meantime, this is a good solution); and second, it is a great conversation starter for introducing people to bitcoin. Now they know about bitcoin, and they also know it's as easy to spend as "real" money. Now they might get interested... (And hopefully, they'll learn enough to wish they didn't have to use a card to convert back to fiat!)

That card is a great thing for bitcoin, anonymity and security be damned!

Roger_Murdock

sr. member

Activity: 342

Merit: 250

Quote from: justusranvier on October 06, 2012, 10:13:26 AM

Quote from: oldschool on October 05, 2012, 09:55:04 PM

I see that as a mute issue,

The word you're looking for is "moot".

I'm pretty sure it's "moo."

http://www.youtube.com/watch?v=YIkJ4BUChxI&feature=related

teamhugs

member

Activity: 69

Merit: 10

Quote from: justusranvier on October 06, 2012, 10:13:26 AM

Quote from: oldschool on October 05, 2012, 09:55:04 PM

I see that as a mute issue,

The word you're looking for is "moot".

Hey now, let's not bring 4chan into this! Grin

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: oldschool on October 05, 2012, 09:55:04 PM

I see that as a mute issue,

The word you're looking for is "moot".

oldschool

full member

Activity: 168

Merit: 100

Quote from: caveden on October 04, 2012, 09:52:11 AM

The card will be associated to a single, static address?
If someone finds out my card address, s/he will be able to know how much I've put and will put in the card?

I hope you implement a way of generating disposable addresses to fund the card. The static printed address might be practical in some situations, but its use should be avoided - you should also explain why to your clients.

Despite that, congratulations for your development! You're already a valuable resource to this community, and it gets better by the day.

I see that as a mute issue, I'd rather protect my actual CC number than my public bitcoin address.... With the CC number they could spend money, with the bitcoin public address they could look up money on just that address.... who cares? It's easy enough to find someones public bitcoin address, the thing you want to protect is your CC number. If you don't trust whoever see's the card with your public bitcoin address then you sure as hell shouldn't trust them with your CC number right?

matmar10

newbie

Activity: 47

Merit: 0

Quote from: Come-from-Beyond on October 04, 2012, 05:03:35 AM

Btw, what's the point to use Bitcoin-based debit cards? To convert bitcoins into dollars? Nonsense. Bitcoiners would better focus on encouraging others to accept bitcoins.

Acquiring millions of merchants while convincing them to accept a new currency, a new method of accepting payment, and a new process for financial settlement is a major undertaking. It took VISA several decades before they ever realized a small profit.

Think of it like a revolutionary new type of engine--does it make sense to spend millions of Bitcoin to lay thousands of miles of brand new "rails" all over the world for your new engine to run on? A more sensible approach is to use your new engine on the existing "rails" that are already established in a massive network all over the world. Once you have a substantial volume of traffic, switching merchants to alternative rails becomes a viable option.

BlackHeartFund

full member

Activity: 126

Merit: 100

Can't wait for mine, I hope it becomes a reality! This is what BTC really needs to start bringing in more people... instant access to their money.

Bitinstant is the man of the year if he pulls this of.

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: auzaar on October 05, 2012, 02:33:14 PM

expired 12/11 ?

Seems to me the card emittent wasn't sure if they would be able to provide support of the card the whole December. Who knows what will happen after the 21th of December...

auzaar

full member

Activity: 151

Merit: 100

expired 12/11 ?

Richy_T

legendary

Activity: 2576

Merit: 2267

1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k

Quote from: BitPay Business Solutions on October 03, 2012, 06:17:42 PM

It's not a real account number. 56789012345

But it is the number I use on my luggage.

XertroV

member

Activity: 88

Merit: 12

Max Kaye

Quote from: Ente on October 04, 2012, 09:16:26 AM

That's a too good posting, you must be a sockpuppet! :-)

Cheers!

Ente

Haha, well thank you (I think?)

I'm just trying to be rational about it; sometimes it seems people forget this step.

ryanAC

member

Activity: 111

Merit: 10

Looks very cool...

Come-from-Beyond

legendary

Activity: 2142

Merit: 1010

Newbie

Quote from: Yankee (BitInstant) on October 04, 2012, 11:21:16 AM

Quote from: Uncle Scrooge on October 04, 2012, 11:09:12 AM

I thought Mastercard shot down these rumors in August.

http://blog.bitinstant.com/blog/2012/8/23/the-press-and-the-paycard.html

Hm...

Quote

At the office, Charlie is half embarrassed at his IRC

Charlie in the Spotlight

Is it he or she? I'm confused.

Portnoy

legendary

Activity: 2030

Merit: 1000

My money; Our Bitcoin.

I might have missed it in what has already been posted but a few quick questions if you don't mind.

Will you be able to load it up with MtGox USD? And if so what is the fee?

Will you then be able to withdraw that at an ATM? And if so what is that fee, including conversion to CAD at a Canadian ATM?

Thanks

Topic: Meanwhile in lower Manhattan..... (Read 11800 times)