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December 01, 2012, 10:17:00 AM Last edit: December 01, 2012, 10:34:20 AM by Kluge |
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Duh. Suddenly thought of this while pouring some coffee.
BitInstant debit cards in association with Mastercard. CC-reading machines are pretty much everywhere, especially with Square/etc
BTC->BitInstant Account = instant $$$ on Mastercard wherever accepted (so, with a small fee, you CAN now pay your bills "directly" with BTC)
But... $$$->BitInstant Account = instant BTC in user's BitInstant wallet = BitInstant Credit Union? Surprisingly, probably less hassle going that route.
You could "cash out" of either currency should you choose... Idunno how many people will have their wages direct-deposited into their BitInstant CU account for BTC, though. OTOH, if you do small jobs and have a smartphone attachment for credit card reading, you could effectively be paid in Bitcoins, even while the person you did the work for has no idea what the Hell a Bitcoin is.
This would also imply BitInstant would host online wallets. I wonder if they could get 'em insured. I don't really see why not.... and if a company's going to do that, it'd be BitInstant. This all poses problems for the anonymity-oriented, though.... but not everything needs to cater to them. Worth noting, perhaps, that Casascius coins are extremely useful for anonymity. They'd coexist well. It would be a surreal experience to walk into a 7/11 with BitInstant debit card, and use it to purchase Casascius coins from a vending machine.
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