Topic: We're developing a card for you to spend BTC like cash, would you use it? - page 2. (Read 1753 times)

With our system the merchant is receiving whatever currency they're currently used to. There is absolutely no additional infrastructure required as all the transactions are processed on their end just as if it were a Visa / MC transaction.

a keychain would be cool.. i met a member on this forum who knows someone planning to make one of those.


seems like there is still a lot of hesitation of adopting BTC as a form of payment by a lot of companies. even with the senate hearings, it's still an undfined issue.

Ultimately it will act as a complete end to end solution. However in the meantime as the market grows to accept bitcoin as a direct payment method our system will leverage the existing infrastructure installed by Visa/MC so that customers can use their BTC at any merchant that currently accepts credit cards. This will spread visibility in physical transactions.

We'd use it but there isn't any way it is going to happen. Bitinstant announced one a long time ago but the regulations make it impossible.

I suggest you give up.

Yes, but hopefully they will in the future, and a Bitcoin-like credit card would be a great way to gain mainstream acceptance.

Well yea I would use it but not many people still accept btc

Something like this? https://bitplastic.com

Yes, this would be great and would be an excellent step to mainstream adoption. Would it work like a regular chip-and pin format with card reader, but obviously one that relayed with the blockchain?

Exactly. This first step is a painless way for merchants to start accepting BTC and for everyone to spread the word. Once they realize they can save on fees by accepting directly they will switch over.

Only if the card can be bought and loaded anonymously.

Of course we would use it, I've been waiting for something like this for along time..

It could be a good introduction for the merchants, seeing that they could skip the middle man if they wanted or just keep taking cash.

Hey everyone,

We are developing an all in one payment card that replaces your entire physical wallet and allows you to spend your BTC just like cash at any merchant.

We are hoping to get some good feedback from users as we finish development of the system, would you use it? What features do you want to make sure we incorporate to make it useful?
 
You can also check us out at www.gobitstripe.com

Brief overview:
*1-The card itself is powered by a small microcontroller and has Bluetooth connectivity. It communicates with our app on your smartphone to dynamically update its magstripe to emulate whichever of your cards it needs to. We have security features in place that block attempts to add cards not assigned to you.

*2-Your BTC stay exactly where you have them now, basically when you want to add cash to your card the application gives you an address and once the BTC are received we automatically authorize the funds to be spent on your card. The timeframe for this is dependent on the BTC transaction confirmation time, otherwise it's essentially done in real time. This allows you to time your, say BTC-USD per the market s
Whenever you need cash.

*3-magnetic stripes are pretty low security and can be cloned with $10 of equipment if your wallet was ever lost or stolen. Going to a dynamic card actually greatly increases your security by requiring authenticating via either checking to see if your phone is near (and so are you hopefully) or by needing to enter a PIN on the card itself.