Bitcoin Forum
February 20, 2020, 04:09:18 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 2 [3] 4 5 6 7 8 9 10 11 12 »  All
  Print  
Author Topic: bitinstant paycard  (Read 26436 times)
kjj
Legendary
*
Offline Offline

Activity: 1302
Merit: 1001



View Profile
August 20, 2012, 02:22:04 AM
 #41

As awesome as it is to be able to actually -buy- things with my bitcoins, the very concept of creating this alternative decentralized currency free of the issues of credit cards, merely to add those issues on for convenience again is mind-numbing. I'll take one, don't get me wrong, because I love spending bitcoins-- but isn't this like being a cop and doing coke that you confiscate? Shouldn't we feel like we're destroying Bitcoin by not making it work in -other- ways, or is this going to be the way that gets it working more? Thoughts anyone?

This seems silly to me.  As a credit card user, I absolutely love credit cards.  They are super convenient, and totally free (if you don't carry a balance and don't have an annual fee).  Having a credit (debit) card that converts from bitcoin on the fly is super awesome.

As a vendor, however, credit cards blow ass.  They have insane fees, they are slow, and they have chargebacks.

I'll be happy to pay bitcoin to any vendor that accepts bitcoin, but I'll be just as happy to use a credit card with any vendor that doesn't.  Their problems, not mine.

17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
I routinely ignore posters with paid advertising in their sigs.  You should too.
1582214958
Hero Member
*
Offline Offline

Posts: 1582214958

View Profile Personal Message (Offline)

Ignore
1582214958
Reply with quote  #2

1582214958
Report to moderator
1582214958
Hero Member
*
Offline Offline

Posts: 1582214958

View Profile Personal Message (Offline)

Ignore
1582214958
Reply with quote  #2

1582214958
Report to moderator
1582214958
Hero Member
*
Offline Offline

Posts: 1582214958

View Profile Personal Message (Offline)

Ignore
1582214958
Reply with quote  #2

1582214958
Report to moderator
100% First Deposit Bonus Instant Withdrawals Best Odds 10+ Sports Since 2014 No KYC Asked Play Now
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1582214958
Hero Member
*
Offline Offline

Posts: 1582214958

View Profile Personal Message (Offline)

Ignore
1582214958
Reply with quote  #2

1582214958
Report to moderator
kjj
Legendary
*
Offline Offline

Activity: 1302
Merit: 1001



View Profile
August 20, 2012, 02:24:54 AM
 #42

As awesome as it is to be able to actually -buy- things with my bitcoins, the very concept of creating this alternative decentralized currency free of the issues of credit cards, merely to add those issues on for convenience again is mind-numbing. I'll take one, don't get me wrong, because I love spending bitcoins-- but isn't this like being a cop and doing coke that you confiscate? Shouldn't we feel like we're destroying Bitcoin by not making it work in -other- ways, or is this going to be the way that gets it working more? Thoughts anyone?
Good point. The big huge plus is it means bitcoin can be used for every day transactions so its a foot in the door. The transaction fees will push folks towards using bitcoin directly, any smartphone or PC can do that, the main hurdle is getting them accepted and in use.

I suppose so. I retract my initial inquiry entirely. It seems as long as we can 'sneak it in" and people say "If I use bitcoins, I can't spend them!", this can always be that slap in the face they need. That said, I feel really sorry for -any- company trying to offer these services because it seems like they're only going to be defrauded. I hope I'm wrong.

Why would the issuer be defrauded?  They have your bitcoins, and they can claw back anything they pay to a vendor.  I'm surprised it took this long for someone to see that.

17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
I routinely ignore posters with paid advertising in their sigs.  You should too.
Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588
Merit: 500


Hero VIP ultra official trusted super staff puppet


View Profile
August 20, 2012, 02:26:38 AM
 #43

Why would the issuer be defrauded?  They have your bitcoins, and they can claw back anything they pay to a vendor.  I'm surprised it took this long for someone to see that.
Good point, don't know what I was thinking. Back on track now  Kiss

thebaron
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250



View Profile
August 20, 2012, 02:35:21 AM
 #44

I understand from a purist standpoint the bitinstant card isn't our ultimate goal. It's baby steps toward adoption and the adoption period may take a long long time.

It will promote more agorist merchants within the BTC community. A quicker way of converting them to cash (at least in the USA) is needed, and this will fill the gap for now.
FreeMoney
Legendary
*
Offline Offline

Activity: 1246
Merit: 1011


Strength in numbers


View Profile WWW
August 20, 2012, 02:41:16 AM
 #45

I understand from a purist standpoint the bitinstant card isn't our ultimate goal. It's baby steps toward adoption and the adoption period may take a long long time.

It will promote more agorist merchants within the BTC community. A quicker way of converting them to cash (at least in the USA) is needed, and this will fill the gap for now.

Yes, this is nice (like tiny unnoticeable nice) for every merchant in the world, now you guys can more easily and cheaply spend your coins to them.

But it's really nice for small merchants who have been earning coins and unloading them in medium sized batches with somewhat large fees.

Also nice for Bitcoin savers who live on the edge of 0 fiat.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
FreeMoney
Legendary
*
Offline Offline

Activity: 1246
Merit: 1011


Strength in numbers


View Profile WWW
August 20, 2012, 02:48:14 AM
 #46

You can keep BTC on the card, the conversion will be instant when you use it. Someone confirm this?

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
btcinstant
Full Member
***
Offline Offline

Activity: 180
Merit: 100



View Profile
August 20, 2012, 03:43:16 AM
 #47

Good to see some competition!  Grin we've been doing this for a bit  btc -> $$ mastercard   the debit card angle does bring a new face to it .  good luck!

edit: we'll be opening a whole new site very shortly also.
arklan
Legendary
*
Offline Offline

Activity: 1750
Merit: 1007



View Profile
August 20, 2012, 03:45:40 AM
 #48

absolutely brilliant.

i don't post much, but this space for rent.
Yankee (BitInstant)
Legendary
*
Offline Offline

Activity: 1078
Merit: 1000


Charlie 'Van Bitcoin' Shrem


View Profile WWW
August 20, 2012, 03:52:46 AM
 #49

Good to see some competition!  Grin we've been doing this for a bit  btc -> mastercard ->  good luck!

edit: we'll be opening a whole new site very shortly also.

Pleasure, looking forward to joining the market.

We're offering a product thats kinda different though, you shall see!  Wink

absolutely brilliant.

Thank you good sir.

-subscribing to this thread-

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
btcinstant
Full Member
***
Offline Offline

Activity: 180
Merit: 100



View Profile
August 20, 2012, 03:53:58 AM
 #50

Quote
Pleasure, looking forward to joining the market.

We're offering a product thats kinda different though, you shall see!  Wink

ya corrected my post to reflect it Wink  looking forward to seeing it!
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1736
Merit: 1002

Let's talk governance, lipstick, and pigs.


View Profile
August 20, 2012, 04:06:06 AM
 #51

What would also be cool is to have a card without the address on it so nobody knows what it is when you cross borders. It would have a brain address.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
The-Real-Link
Hero Member
*****
Offline Offline

Activity: 533
Merit: 500


View Profile
August 20, 2012, 05:31:32 AM
 #52

  Very cool.  If anything I'd hope this would assist in more widely used BTC.  That or at least more people coming into contact with Bitcoins in any conceptual manner and learning about them.

Oh Loaded, who art up in Mt. Gox, hallowed be thy name!  Thy dollars rain, thy will be done, on BTCUSD.  Give us this day our daily 10% 30%, and forgive the bears, as we have bought their bitcoins.  And lead us into quadruple digits
RoloTonyBrownTown
Sr. Member
****
Offline Offline

Activity: 350
Merit: 250



View Profile
August 20, 2012, 05:50:07 AM
 #53

Very nice guys, looking forward to having AUD as an option Wink

TheButterZone
Legendary
*
Offline Offline

Activity: 2604
Merit: 1011


RIP Mommy


View Profile WWW
August 20, 2012, 06:22:56 AM
 #54

Notice that it says the card is owned by BitInstant. AFAICT, that means when you swipe it, the merchant is debiting BitInstant's pool account(s), and BI has a $1,000 limit before it gets denied, to prevent their accounts being emptied before more can be transferred in.

Where do I sign up? And for the hell of it, can we provide our own vanity keypairs?

Saying that you don't trust someone because of their behavior is completely valid.
mc_lovin
Legendary
*
Offline Offline

Activity: 1162
Merit: 1000


www.bitcointrading.com


View Profile WWW
August 20, 2012, 06:26:21 AM
 #55

Where do I sign up? And for the hell of it, can we provide our own vanity keypairs?
I would LOVE a vanity keypair on my BitInstant card. 

Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500


Wat


View Profile WWW
August 20, 2012, 06:39:33 AM
 #56

Cant wait for an AUD one to come out

drakahn
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500



View Profile
August 20, 2012, 06:42:36 AM
 #57

Cant wait for an AUD one to come out
This. Or, what would be the possibility/cost of spending USD in an AUD store?

14ga8dJ6NGpiwQkNTXg7KzwozasfaXNfEU
Bitcoin Oz
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500


Wat


View Profile WWW
August 20, 2012, 06:47:23 AM
 #58

Cant wait for an AUD one to come out
This. Or, what would be the possibility/cost of spending USD in an AUD store?

I think the usual rate is 3% +

dust
Hero Member
*****
Offline Offline

Activity: 840
Merit: 1000



View Profile WWW
August 20, 2012, 07:59:07 AM
 #59

This is great for bitcoin, and I would probably get one because it is cool. That said, it is hard for a 1-2% fee to compete with the 1-4.5% I can get back from using a credit card I pay in full every month.  Even some debit cards offer a 1% or so reward.  Perhaps when bitcoin exchange rates stabilize it would be possible to offer a card like this with 0 fee with revenue coming from the standard merchant fees.

Cryptocoin Mining Info | OTC | PGP | Twitter | freenode: dust-otc | BTC: 1F6fV4U2xnpAuKtmQD6BWpK3EuRosKzF8U
unclescrooge
aka Raphy
Hero Member
*****
Offline Offline

Activity: 868
Merit: 1000


View Profile
August 20, 2012, 10:16:53 AM
 #60

OMG this is so awesome. Tyhank you guys, thank you so much. I love you.
Pages: « 1 2 [3] 4 5 6 7 8 9 10 11 12 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!