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Author Topic: [2015-11-20] COINBASE JUST DEBUTED THE FIRST BITCOIN DEBIT CARD IN THE US  (Read 451 times)
hendra147
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November 20, 2015, 02:35:25 PM
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People are using the bitcoin digital currency more than ever before. That’s good news for this decidedly democratic money system, a system controlled not by big governments and big banks and big credit card companies but by a vast network of computers set up by users around the world. The more people who use bitcoin, the more useful it becomes—the closer we get to a place where we can send money across the Internet as easily as we send texts or emails.

The rub is that relatively few people and businesses are using bitcoin to actually buy and sell stuff—or send money to friends and family or transfer money across international borders or handle any of the other financial tasks that bitcoin promises to streamline in the years to come. Most people are just speculating in bitcoin, buying the digital currency in the hopes that its rather volatile price will go up—and they can turn a profit.

According to Coinbase, the Silicon Valley startup that operates digital bitcoin wallets for over 2.8 million people across the globe, about 20 percent of the transactions on its network involve payments or other tasks where bitcoin is used as a currency. The other 80 percent of those transactions are mere speculation, where bitcoin is traded as a commodity in search of a profit.


source : http://www.wired.com/2015/11/coinbase-unveils-countrys-first-bitcoin-debit-card/

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Make sure you back up your wallet regularly! With Bitcoin-Qt, it needs to be backed up at least as often as every 100 transactions (both sends and receipts) or new addresses.
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November 20, 2015, 02:38:39 PM
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Not truly the first one but interesting to see this coming from such a prominent company. Here's a direct link to what seems to be the official website of the card for those that would like to go there directly.

https://www.shiftpayments.com/
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November 20, 2015, 03:05:33 PM
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I wonder how the other card companies will react to this. Will they let them exist?

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November 21, 2015, 12:04:15 AM
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I wonder how the other card companies will react to this. Will they let them exist?

read more at here
https://blog.coinbase.com/2015/11/20/introducing-the-shift-card/

I think the service avaible at U.S
if you live in U.S you can try it

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November 21, 2015, 02:43:58 AM
 #5

I wonder how the other card companies will react to this. Will they let them exist?

read more at here
https://blog.coinbase.com/2015/11/20/introducing-the-shift-card/

I think the service avaible at U.S
if you live in U.S you can try it

Yea at this point its no point banning it, the card companies can profit too, so why not join?

I`m sure VISA and Mastercard are probably planning to create cobranded cards with these blockchain companies, and then get free marketing from the blockchain hype.

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November 21, 2015, 05:43:34 AM
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I wonder how the other card companies will react to this. Will they let them exist?

read more at here
https://blog.coinbase.com/2015/11/20/introducing-the-shift-card/

I think the service avaible at U.S
if you live in U.S you can try it
Only in 24 states so not the entire U.S  is not covered yet.

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worhiper_-_
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November 21, 2015, 07:05:39 AM
 #7

I wonder how the other card companies will react to this. Will they let them exist?

read more at here
https://blog.coinbase.com/2015/11/20/introducing-the-shift-card/

I think the service avaible at U.S
if you live in U.S you can try it
Only in 24 states so not the entire U.S  is not covered yet.

lol...

I'm wondering, aren't other bitcoin debit cards able to be used everywhere? Why did coinbase had to go that route and only include half a nation? What's the benefit, is this worth to get only for bigger limits? Being able to use a card in half a country doesn't sound convenient to me.
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November 21, 2015, 08:37:26 PM
 #8

No kidding. Stupid move on their part I think.
Only time will tell if they will be viable opinion for buying bitcoin in the future. If limiting is their way of doing business then they won't go far or be blazing any trails for it's progress.

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