What are your thoughts on the Bitcoin Debit Card? - page 2.

caribbeanbitcoiner

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Quote from: Monica80 on November 22, 2014, 12:32:19 PM

But Xapo I don't think is the solution..

The way I think works.. is transaction happens in Fiat at the POS... XAPO just takes the exact amount plus a fee from your bitcoin bag.

The Bitcoins only travel between XAPO and the Bitcoiner. Not through the Merchant.. I believe and correct me if I am wrong.

So this is not a solution at all. For Bitcoin to spread its wings, the coins need to flow through The Merchant, The POS AND The bitcoiner or bitcoiner-ette.

In Xapo's case, the merchant never sees the coins.. so what is the point?

The point is you get to spend your at a place where they won't normally take btc. Most businesses aren't going to accept Bitcoins based on the fact that it's new, unregulated and the creator is unknown.

Monica80

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But Xapo I don't think is the solution..

The way I think works.. is transaction happens in Fiat at the POS... XAPO just takes the exact amount plus a fee from your bitcoin bag.

The Bitcoins only travel between XAPO and the Bitcoiner. Not through the Merchant.. I believe and correct me if I am wrong.

So this is not a solution at all. For Bitcoin to spread its wings, the coins need to flow through The Merchant, The POS AND The bitcoiner or bitcoiner-ette.

In Xapo's case, the merchant never sees the coins.. so what is the point?

Monica80

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Quote from: ?? on ??

Not a fan of implementing debit cards that accept bitcoin. Undecided

Why not? Why wouldn't Bitcoin adopt all forms AND create new ones too.

caribbeanbitcoiner

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Quote from: J3VVL on November 22, 2014, 10:25:54 AM

makes no sense to create a layer of "trust" in a trustless system ! ---> how about simply print out a paper wallet?...*plastic cards are like for credit cards and food stamps (~enemys of bitcoin) :-D haaa

I can't see Bitcoin taking off if people have to print out a paper wallet just to buy groceries and buy gas. Grin

caribbeanbitcoiner

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Quote from: pereira4 on November 22, 2014, 10:09:28 AM

Quote from: caribbeanbitcoiner on November 22, 2014, 03:34:05 AM

Quote from: QuestionAuthority on November 22, 2014, 03:10:28 AM

Quote from: caribbeanbitcoiner on November 21, 2014, 04:46:12 PM

Please share, personally I think this is what can jumpstart mass adoption.

They suck.

Can you elaborate?

It defeats the purpose of bitcoin, which is to not fall into the same traps that debit cards started: an economy based on debt.

What!?

A debit card is the total opposite, with a debit card you can only spend what's tied to that account. If I only have 1 btc on my Bitcoin Debit Card. I can only spend that 1 btc and nothing else. What you are referring to is a Credit Card, where a bank lends you electronic money.

Biitcoin

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Zichain

Quote from: turvarya on November 22, 2014, 09:30:29 AM

Quote from: Biitcoin on November 22, 2014, 08:35:22 AM

What ? a Physical real Bitcoin Debit card ? Shocked

Can you link me to that please , how to get one

https://xapo.com/

Do you get the card to your house or what ? I registered and all but I don't see when I can order it Shocked

turvarya

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Quote from: pereira4 on November 22, 2014, 10:09:28 AM

Quote from: caribbeanbitcoiner on November 22, 2014, 03:34:05 AM

Quote from: QuestionAuthority on November 22, 2014, 03:10:28 AM

Quote from: caribbeanbitcoiner on November 21, 2014, 04:46:12 PM

Please share, personally I think this is what can jumpstart mass adoption.

They suck.

Can you elaborate?

It defeats the purpose of bitcoin, which is to not fall into the same traps that debit cards started: an economy based on debt.

I think, you misunderstand the term debit card. Debit Card means you load money on it before you can pay with it. Credit card means, you can pay without actually having the money.
You can't have a negative balance on a debit card, so there is no debt.

J3VVL

newbie

Activity: 28

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makes no sense to create a layer of "trust" in a trustless system ! ---> how about simply print out a paper wallet?...*plastic cards are like for credit cards and food stamps (~enemys of bitcoin) :-D haaa

pereira4

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Activity: 1610

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Quote from: caribbeanbitcoiner on November 22, 2014, 03:34:05 AM

Quote from: QuestionAuthority on November 22, 2014, 03:10:28 AM

Quote from: caribbeanbitcoiner on November 21, 2014, 04:46:12 PM

Please share, personally I think this is what can jumpstart mass adoption.

They suck.

Can you elaborate?

It defeats the purpose of bitcoin, which is to not fall into the same traps that debit cards started: an economy based on debt.

247casino

newbie

Activity: 56

Merit: 0

I just read about a group putting out 1 Bitcoin Wallets .com as a project, Tied to 1 Bitcoin Bank .com

Chartered out of Caymans they say. They want to have a legit bank to convert wires into a minimum 1 bitcoin wallet that may be tired to a bank card too from what I read. BTC is still in it's infancy and the Net needs a digital currency IMO for gambling and adult stuff and even drugs if you are into it. So the dark side of human vice will fuel BTC financial development and Caymans is the last haven for dark currency.

L3G1T

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If your someone with a lot of bitcoins then yes it seems like a good idea.

turvarya

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Activity: 714

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Quote from: Biitcoin on November 22, 2014, 08:35:22 AM

What ? a Physical real Bitcoin Debit card ? Shocked

Can you link me to that please , how to get one

https://xapo.com/

Biitcoin

sr. member

Activity: 353

Merit: 250

Zichain

What ? a Physical real Bitcoin Debit card ? Shocked

Can you link me to that please , how to get one

turvarya

hero member

Activity: 714

Merit: 500

Quote from: Soros Shorts on November 22, 2014, 03:16:49 AM

Quote from: caribbeanbitcoiner on November 21, 2014, 09:19:30 PM

Quote from: Monica80 on November 21, 2014, 09:18:02 PM

An actual plastic card?

I guess it would be handy on areas or whole countries or small stores.

But with NFC payments coming everywhere there will be no need.

The bolded may be true but the average American doesn't even know what NFC is lol

NFC payments are great ... as long as it doesn't involve a phone. I really don't want to lose the equivalent of my wallet when I lose or break my phone. I destroy many phones a year. I just broke one last week in a minor motorcycle accident.

Putting everything on your phone -> single point of failure.

No, it is not, if you just make a backup.
Bitcoins are never on a device, they are still on the blockchain and you need a private key to access them. You can backup a private key, so I don't see any problem there.
(I wonder, why someone who is a Hero Member, just don't understand that simple principal.)

countryfree

legendary

Activity: 3066

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Your country may be your worst enemy

If it's anonymous, I could enjoy one. But it has to be like a real debit card, I mean usable everywhere in the world. You'll load it with BTC and it will debit local fiat currency if you shop at a place which doesn't accept BTC.
I'll pay 0.05 BTC to get one. Maybe more if it comes with more services.

caribbeanbitcoiner

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Activity: 131

Merit: 100

Quote from: QuestionAuthority on November 22, 2014, 03:10:28 AM

Quote from: caribbeanbitcoiner on November 21, 2014, 04:46:12 PM

Please share, personally I think this is what can jumpstart mass adoption.

They suck.

Can you elaborate?

BitMos

full member

Activity: 182

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"PLEASE SCULPT YOUR SHIT BEFORE THROWING. Thank U"

Quote from: Soros Shorts on November 22, 2014, 03:16:49 AM

single point of failure.

we will exploit all those points, until the pool is dried and move to the next one. The locust group is undefeatable. Or make peace, or you will discover what bear foot running barbarians mean.

Soros Shorts

donator

Activity: 1617

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Quote from: caribbeanbitcoiner on November 21, 2014, 09:19:30 PM

Quote from: Monica80 on November 21, 2014, 09:18:02 PM

An actual plastic card?

I guess it would be handy on areas or whole countries or small stores.

But with NFC payments coming everywhere there will be no need.

The bolded may be true but the average American doesn't even know what NFC is lol

NFC payments are great ... as long as it doesn't involve a phone. I really don't want to lose the equivalent of my wallet when I lose or break my phone. I destroy many phones a year. I just broke one last week in a minor motorcycle accident.

Putting everything on your phone -> single point of failure.

Furio

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BTC | LTC | XLM | VEN | ARDR

Quote from: hua_hui on November 21, 2014, 11:48:12 PM

Quote from: Monica80 on November 21, 2014, 11:18:31 PM

Quote from: caribbeanbitcoiner on November 21, 2014, 10:22:49 PM

It might be a step back but businesses aren't going to implement a whole new payment system for just one currency when swiping a Card is 10 times easier and currently implemented.

Exactly right

We are talking about those small sized shops that won't update their systems because they cannot afford them. A plastic bitcoin card would be way to bring bitcoin to them.

I think the bitcoin debit card is fully loaded with bitcoin. When going to stores who are not implementing bitcoin payment terminals, you swipe the bitcoin debt card and the card issuers immediately convert the bitcoin from the balance of the card to fiat then debt to the merchants' account. It may be tipping point to get bitcoin adopted by masses.

Exactly my thoughts, plastic and paper is real for the masses, not O's and 1's Grin

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: caribbeanbitcoiner on November 21, 2014, 04:46:12 PM

Please share, personally I think this is what can jumpstart mass adoption.

They suck.

Topic: What are your thoughts on the Bitcoin Debit Card? - page 2. (Read 3294 times)