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Title: I have seen the movie - bitcoin debit card Post by: Erdogan on November 24, 2013, 01:06:51 PM Some business chain, Starbucks or some smaller firm, or a bus company, starts to accept bitcoin to refill their cards, bitpay-style.
Customer: If I refill my card monthly, but now I see that the last few coffes I have each month really cost me twice as much as it should, so I will have to refill weekly, or could you just keep my balance in bitcoins and convert at point of sale? Starbucks: Ok, we will have a choice, dollars or bitcoins on the card. Customer: I refill my card monthly to avoid the hazzle of coins, a nice reminder of the appreciation of bitcoin is the fact that I fill the card with a smaller bitcoin-nominated sum each month. This summer I took a vacation, not using the card, and when I was back the value on the card was three times the cost of my monthly coffe consumption. Next month it was even higher, and now I have more than I can possibly use on Starbucks my entire life. Starbucks: We have made a deal with IKEA, you can use our card to buy furniture. Starbucks: Heck, we just added a redemption function, ask for your bitcoins back next time you visit us. (No need for money transfer license). Bookstore X: Hey starbucks, can we make the card usable by us also? We will give your cardholders a rebate. Starbucks: We have to spin off this card business, it seems to take on a life by itself. Starbucks: Hey, we make a hefty profit on abandoned cards, especially since the value appreciates, when we clear a abandoned card after 3 years of non-use, some of them have a fortune on them. It pays the whole infrastructure and more, we can cut the price for coffe in half for bitcoin card users. (25 percent of gift cards generally go unused). Customer: I love these cards, they seem to never max out. Customer, after global bitcoin adoption is completed: I love my starbucks card, whenever I put something in, it keeps its value, even when I leave it there for months. tl;dr its gonna happen soon. Title: Re: I have seen the movie - bitcoin debit card Post by: EvilPanda on November 24, 2013, 01:24:01 PM Would love to see that. I convert to fiat only because I can't buy the things I need with BTC, most ppl do that. If there was a chance to go to just 1 branch of business like computer store or an electric company and pay with BTC I would't have to cash out as much. Everyone would profit.
Title: Re: I have seen the movie - bitcoin debit card Post by: franky1 on November 24, 2013, 02:37:21 PM If there was a chance to go to just 1 branch of business like computer store or an electric company and pay with BTC I would't have to cash out as much. Everyone would profit. its already here, albeit in limited operationwww.bitcoinstore.com http://ca.finance.yahoo.com/blogs/insight/canadian-mining-company-using-bitcoins-pay-bills-214847246.html Title: Re: I have seen the movie - bitcoin debit card Post by: JimboToronto on November 24, 2013, 03:20:41 PM We already have Virtex debit cards here in Canada.
http://www.youtube.com/watch?v=sP68npZMBzI |