Next-Gen Bitcoin Debit Card Finally Launched?

[MightyStorm]

Its users will be able to use the Bitcoin Debit NanoCard to pay for goods and services in restaurants and shops as well as online.
They can also be used at ATMs worldwide. It requires no verification, allowing users to remain anonymous.

[jdebunt]

You really need to learn to post these articles in the right section, or stop promoting CoiNTeelgraph as that is all you seem to be doing.

[Amph]

this is something that could encourage more the use of bitcoin instead of fiat, i hope they will make a visa version too or for other circuits for that matter

[Light]

this is something that could encourage more the use of bitcoin instead of fiat, i hope they will make a visa version too or for other circuits for that matter

Not really, all you doing is intertwining the two. Bitcoin was originally designed as a currency - it should be able to buy goods and services on its own without the need for conversion to fiat. The problem is that no merchants actually want to accept Bitcoin by itself - even they convert it to fiat. This presents a problem, Bitcoin isn't really a currency anymore, it's more of a commodity to be traded rather than used.

[spud21]

Do they have to post it to you, and how is it anonymous if they do?

[louise123]

this is something that could encourage more the use of bitcoin instead of fiat, i hope they will make a visa version too or for other circuits for that matter

Not really, all you doing is intertwining the two. Bitcoin was originally designed as a currency - it should be able to buy goods and services on its own without the need for conversion to fiat. The problem is that no merchants actually want to accept Bitcoin by itself - even they convert it to fiat. This presents a problem, Bitcoin isn't really a currency anymore, it's more of a commodity to be traded rather than used.

I would say it was designed to be more of a payment system.
The coins were added and distributed as a reward for those who will support the network - Proof of Work.

[nextgencoin]

How is a debitcard anonymous? Won't it have your name on the card?

Surely atms could take a picture of you everytime it recognizes the bitcoin chip?

[Kprawn]

this is something that could encourage more the use of bitcoin instead of fiat, i hope they will make a visa version too or for other circuits for that matter

Not really, all you doing is intertwining the two. Bitcoin was originally designed as a currency - it should be able to buy goods and services on its own without the need for conversion to fiat. The problem is that no merchants actually want to accept Bitcoin by itself - even they convert it to fiat. This presents a problem, Bitcoin isn't really a currency anymore, it's more of a commodity to be traded rather than used.

This is 100% true... Finney also stated that digital currencies would eventually be commercialized to death. These payment processors, kill the advantages that Bitcoin has over other payment options. They create these "services" to take fee's and these fee's makes the use of Bitcoin more expensive.

These companies also have to adhere to strict regulations {KYC / AML } and in doing so, they nulify any anonimity Bitcoin had.

We accept these practices, because we are desperate for mass adoption and these companies are making that possible... So this knife has two edges..

[nextgencoin]

this is something that could encourage more the use of bitcoin instead of fiat, i hope they will make a visa version too or for other circuits for that matter

Not really, all you doing is intertwining the two. Bitcoin was originally designed as a currency - it should be able to buy goods and services on its own without the need for conversion to fiat. The problem is that no merchants actually want to accept Bitcoin by itself - even they convert it to fiat. This presents a problem, Bitcoin isn't really a currency anymore, it's more of a commodity to be traded rather than used.

This is 100% true... Finney also stated that digital currencies would eventually be commercialized to death. These payment processors, kill the advantages that Bitcoin has over other payment options. They create these "services" to take fee's and these fee's makes the use of Bitcoin more expensive.

These companies also have to adhere to strict regulations {KYC / AML } and in doing so, they nulify any anonimity Bitcoin had.

We accept these practices, because we are desperate for mass adoption and these companies are making that possible... So this knife has two edges..

Seems fishy, like a we can't beat them then lets regulate and milk them.

Saying that IF it was anonymous and even if it wasn't and even if we paid fees it would I guess work like a Gold backed card which might if we have a serious currency crisis become a legitimate option for the mainstream public that just saw its money evaporate. Will I even use it? Probably not. Let the mainstream use this NSA wired BS and let the sensible people use Bitcoin how they were intended. 

[thebigtalk]

It's only for people who don't need anonymity
Also, if i can't use my bitcoin anonymously. I better use fiat

It's not anonymous at all

Me too. Bitcoin is not as anonymous as people think. While in fiat money, you can just go and spend it the way you want to spend it anonymously (so to speak).

[Amph]

this is something that could encourage more the use of bitcoin instead of fiat, i hope they will make a visa version too or for other circuits for that matter

Not really, all you doing is intertwining the two. Bitcoin was originally designed as a currency - it should be able to buy goods and services on its own without the need for conversion to fiat. The problem is that no merchants actually want to accept Bitcoin by itself - even they convert it to fiat. This presents a problem, Bitcoin isn't really a currency anymore, it's more of a commodity to be traded rather than used.

i agree with you, but that is the final step of bitcoin, before using bitcoin directly we need something like the proposal of this news, to convey people to the world of bitcoin; when many of them feel more comfortable with it, you can start to build services which allow bitcoin's payments only

then those who receive those payments need to find a way to not dump their earning in fiat, but re-using it in exchange to bitcoin again, for example for paying taxes

so the problem is the final step of money, those money(bitcoin) that are in the hands of big companies

[randy8777]

It's only for people who don't need anonymity
Also, if i can't use my bitcoin anonymously. I better use fiat

It's not anonymous at all

Me too. Bitcoin is not as anonymous as people think. While in fiat money, you can just go and spend it the way you want to spend it anonymously (so to speak).

bitcoin can be as anonymous as cash money if you do it right. what do you mean with the latter sentence? the same can be said about bitcoin.