12inchdick (OP)
Newbie
 Offline
Activity: 20
Merit: 0
|
 |
June 17, 2015, 11:01:27 AM |
|
https://i.imgur.com/6Tn3ubR.jpg?1Startup BuyAnyCoin (BAC) plans to sell prepaid crypto cards next to prepaid phone and debit cards in convenience stores. They're currently hoping to raise US$10,000 for merchant outreach and continued backend development. Would you buy such a card?
|
|
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
Amph
Legendary
Offline
Activity: 3206
Merit: 1069
|
|
June 17, 2015, 12:07:07 PM |
|
no the whole point of bitcoin(at least for me, i don't see it as an alternative, i want it to replace the fiat scam one day), is to remove the need of the instrument of its competitor, live visa and mastercard
i want to get rid of my credit card completely, one day and recieve everything in my bitcoin wallet, from which i can spend without worry about security code, pin, my name and other garbage like that
|
|
|
|
|
|
xDan
|
|
June 17, 2015, 12:25:21 PM |
|
It looks like a voucher not an actual bank card, which is an entirely good thing!
|
HODLing for the longest time. Skippin fast right around the moon. On a rocketship straight to mars.
Up, up and away with my beautiful, my beautiful Bitcoin~
|
|
|
|
altcoinhosting
|
|
June 17, 2015, 12:27:51 PM |
|
I think it would depend on the price... If i can buy cheaper BTC elsewhere, i will not buy a prepaid card, if this is the cheapest option for me, i would buy it...
|
|
|
|
|
mr angry
|
|
June 17, 2015, 12:30:31 PM |
|
For me it depends on whether the fees are less than a Bitcoin ATM charges. If the fees are more I would rather get cash from a Bitcoin ATM and spend that instead. It all depends who offers the cheapest service. It would be ideal if most shops accepted Bitcoin, but cards like that are a temporary compromise.
|
|
|
|
|
NorrisK
Legendary
Offline
Activity: 1946
Merit: 1007
|
|
June 17, 2015, 12:33:58 PM |
|
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
|
|
|
|
|
Snorek
Legendary
Offline
Activity: 1400
Merit: 1001
|
|
June 17, 2015, 12:43:58 PM |
|
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
I guess as a customer you are not sure. You need to trust them, that they are indeed selling prepaid bitcoin cards with private key. I think if company goes as far as creating network of distribution, signing contracts with a resellers and so on, they won't try to scam potential customers that way. It will be the end of them and their business if they would do something like that, nobody will risk company just to scam some btc. |
|
|
|
|
|
shogdite
|
|
June 17, 2015, 12:50:01 PM |
|
Yes. I would. If it made sense to use one. Maybe if I was not wanting to not have to carry my phone and I wanted to exchange 100$ in btc. I could just buy the card and then use it as the form of payment for that transaction.
|
|
|
|
|
Beliathon
|
|
June 17, 2015, 01:05:39 PM |
|
What do I need some plastic card for when I have a smartphone? This is 2015, not 1995.
|
|
|
|
|
NyeFe
|
|
June 17, 2015, 01:08:24 PM |
|
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
Well I could tell you how our systems work. We generate several random hashes, including your password. These are all used to encrypt all your private data. i.e. We don't store your password or use hot wallets, because it would ultimately lead to a data breach. But at the end it all depends on your trust with your card provider (because they will always require your keys to unlock the content) which all goes against everything Bitcoin stands for. |
MicroDApp.com—Smart Contract developers. Lets build a decentralized future!
|
|
|
|
iram66680
|
|
June 17, 2015, 01:11:12 PM
Last edit: June 17, 2015, 02:51:59 PM by iram66680 |
|
How about KYC/AML compliance? They are quite hard to comply with. And also, the problem with this is that many merchants won't accept a less known merchant service to use it in their store. You would probably be bombard with complains that the cards were stolen etc etc.
|
|
|
|
Argwai96
Legendary
Offline
Activity: 1036
Merit: 1000
Thug for life!
|
|
June 17, 2015, 01:16:04 PM |
|
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
Well I could tell you how our systems work. We generate several random hashes, including your password. These are all used to encrypt all your private data. i.e. We don't store your password or use hot wallets, because it would ultimately lead to a data breach. But at the end it all depends on your trust with your card provider (because they will always require your keys to unlock the content) which all goes against everything Bitcoin stands for. I guess they just want to tap into the altcoin market since to see if they could make it last, maybe they see great potential into having new users buy the card direct to buy altcoins then the bitcoin experience. |
|
|
|
|
Daniel91
Legendary
Offline
Activity: 3374
Merit: 1824
|
|
June 17, 2015, 01:50:57 PM |
|
No, I wouldn't buy a prepaid crypto card right now.
In my country, we don't have many places where we could use such card, we just recently got first bitcoin ATM, very few companies accept bitcoin etc.
Maybe later, in the future, when bitcoin becomes widely accepted here.
|
|
|
|
|
iram66680
|
|
June 17, 2015, 01:55:52 PM
Last edit: June 17, 2015, 02:52:41 PM by iram66680 |
|
No, I wouldn't buy a prepaid crypto card right now.
In my country, we don't have many places where we could use such card, we just recently got first bitcoin ATM, very few companies accept bitcoin etc.
Maybe later, in the future, when bitcoin becomes widely accepted here.
If I understand correctly. This card is a way to turn fiat into BTC without the trouble of going to your Bitcoin ATM. In some places, Bitcoin ATM is very uncommon. If this becomes successful, people can try out BTC without going far distances for a few dollars. This can improve the acceptance of BTC if stores starts to accept these cards. But they should also allow users to withdraw into BTC. |
|
|
|
|
turvarya
|
|
June 17, 2015, 02:14:11 PM |
|
Oh, it's like Bitcoinbon.
Sure, it is a nice idea and it works quite well in Austria. There are no KYC/AML-requirements since the amount of money used is too small(if somebody would buy cards with a value of thousands of euros, the vendor would have to check his ID).
I don't use it, since the fees that are invovled are pretty high(I think something between 6-10%), but it is a nice entrypoint into the cryptoworld.
|
|
|
|
Chavez
Member
Offline
Activity: 71
Merit: 10
|
|
June 17, 2015, 02:19:50 PM |
|
I would if the fees are low. I really like bit-x's one as you can spend the money directly from the coins you have on the exchnage but the fees are just too much for me and with a minimum of 5 transactions a month to keep it active or you have to pay to reactivate it is harsh.
|
|
|
|
|
|
BTTrader
|
|
June 17, 2015, 02:36:02 PM |
|
What do I need some plastic card for when I have a smartphone? This is 2015, not 1995.
You should know this fact! We play games, Facebook, Twitter on our phone, which will run out battery soon! Do you face such kind of embarrassment you need to make an emergent call but there is no battery at all! The same scenario can apply here! We keep plastic card in our wallet in case such situation happens! |
|
|
|
|
unamis76
Legendary
Offline
Activity: 1512
Merit: 1005
|
|
June 17, 2015, 02:45:27 PM |
|
I definitely don't see myself buying such a card right now. Maybe two years ago, when I started learning about Bitcoin... but definitely not now  I'm very used to the usual way I buy and sell Bitcoins. |
|
|
|
|
|
melody82
|
|
June 17, 2015, 02:48:28 PM |
|
What do I need some plastic card for when I have a smartphone? This is 2015, not 1995.
You should know this fact! We play games, Facebook, Twitter on our phone, which will run out battery soon! Do you face such kind of embarrassment you need to make an emergent call but there is no battery at all! The same scenario can apply here! We keep plastic card in our wallet in case such situation happens! That is why I keep an extra battery charger like this with me if I am going to be away from the home for too long. It is actually really handy, especially if I need to wait somewhere like at the doctors office. I don't think I would have any use for such a prepaid card, but who knows, someone might find it useful. |
|
|
|
|
|
altcoinhosting
|
|
June 17, 2015, 03:08:48 PM |
|
That is why I keep an extra battery charger like this with me if I am going to be away from the home for too long. It is actually really handy, especially if I need to wait somewhere like at the doctors office. I don't think I would have any use for such a prepaid card, but who knows, someone might find it useful. dx.com sells them for about $5 (at least, they used to, that's where i bought mine a year ago) |
|
|
|
|
