Am I the only one that are a little confused here? ....You are obviously
a little bit sarcastic right? You used the card and paid "zero" transaction fees...? Why would you call it a scam then... or is that
part of the sarcasm? Coinbase are using Bitcoin as the back end and that makes these transactions, dirt cheap.
Yes, LOTS of sarcasm. Read below for more explanation.
wow I would just hold the card until the fees are gone or lowered.
Which fees are you concerned about? The $0.00 annual fee? The $0.00 transaction fee? So what is the downside of using this card? I imagine that you have to had bitcoin wallet at CoinBase. And your coins are converted to FIAT at current market rate with no fees etc.
It sound like ideal solution until direct bitcoin adoption happen.None. There are no downsides - unless, you are the average idealistic moronic bitcoin supporter that just likes to b*tch about the banks. It never ceases to amaze me how absolutely stupid some people are to believe that bitcoin is ever actually going to change anything substantially. It won't. It is just money. It isn't God. It isn't revolution. It isn't anything - except the newest pretty sea shell that people use to trade with. It isn't even anonymous. I find it hilarious that people still run around spouting about how anonymous bitcoin is. Sure, if you really really work at it - you can do some anonymous transactions - but if the NSA or any serious entity wants to track someone down over time - they will eventually. My having a pocket stuffed with dollar bills and handing it to someone is more anonymous than a bitcoin transaction.
The main problem with bitcoin, is that it is just money, THAT ALMOST NO ONE USES OR ACCEPTS!!! Yet.
What I like about the Debit Card is simple. I get paid in my little Fiat Dollar world. It goes into my bank. I buy bitcoins with that USD Fiat Bank Money almost immediately. Since bitcoin is pretty much on a slow upward path, most of the time my "money" is increasing, sort of like a really good interest bearing bank account. Only my current bitcoin account is up about 80% in the past 6 months. Thats a really nice interest bearing account. And using my debit card I actually get to buy stuff ANYWHERE in the world.
And that works really really well for me - because I like to be able to SPEND my money. Actually, that is sort of the purpose of my having money - to spend it. It is one of the reasons I don't let my customers pay me in Rocks, or chips of wood, or carrots or something. And up until now I haven't let them pay me in bitcoin either, because I couldn't spend it easily.
Bitcoin = Money
(but only when you can spend it)Get your depit card and start spending your bitcoin, and increasing the flow of bitcoin, and then you will be actually contributing to the growth and infrastructure of the bitcoin monetary ecosystem. Because if you don't then it will stop being money, and it will eventually die.