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audaciousbeing
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June 07, 2017, 07:50:29 AM
 #61

Bitcoin debit card is still very much possible but not credit card. The reason for bitcoin in the first place was borne out of the failure of the banking system which cannot be unlinked to the fact that people get to spend more than what they have as a result of credit card thereby throwing the whole world into financial crises which I believe might face bitcoin if that should happen considering the fact that tracing people to redeeem their debt will likely be impossible.
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June 07, 2017, 01:29:47 PM
 #62

Bitcoin debit card is still very much possible but not credit card. The reason for bitcoin in the first place was borne out of the failure of the banking system which cannot be unlinked to the fact that people get to spend more than what they have as a result of credit card thereby throwing the whole world into financial crises which I believe might face bitcoin if that should happen considering the fact that tracing people to redeeem their debt will likely be impossible.

Maybe you're right, bitcoin can cause serious consequences for the economy of the world, but with the current situation, everything is controlled steady, and i think, it is showing the advantages It is, and it is contributing to the development of a nation's economy, the crisis is impossible.
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June 07, 2017, 01:55:36 PM
 #63

Bitcoin debit card is still very much possible but not credit card. The reason for bitcoin in the first place was borne out of the failure of the banking system which cannot be unlinked to the fact that people get to spend more than what they have as a result of credit card thereby throwing the whole world into financial crises which I believe might face bitcoin if that should happen considering the fact that tracing people to redeeem their debt will likely be impossible.
Yes bitcoin debit card is possible but credit card it is impossible. If Bitcoin banks open then it is possible. Yes, we have many banks in our country, and they are suffering a lot to collect the due amount of the credit card holders. So if Bitcoin credit card comes means everyone will apply and use, but no one will pay credit card bill. Because there is no banks to control this bitcoin money.
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June 07, 2017, 02:14:03 PM
 #64

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?

I'd say either Wirex or Xapo.

Maybe Coinsbank, but I have never used them myself so I can't really comment on their quality of their product or anything like that. I've only touched Xapo which has worked for me every time if you are willing to provide some ID, and Wirex is one of the oldest anonymous CC providers around, you don't even need to submit your ID.

They were called e-coin before they rebranded.

If you want to pay your bills, look onto localbitcoins. In my country there are always offers to pay your bills for bitcoin on there, and for a pretty good price as well.

I would be careful with localbitcoins.  A lot of people are getting in trouble with the law for running an "unlicensed money transfer service". Having someone pay your bills for you by using localbitcoins could be against the law in your state. All depends of course on the local laws.

Bitpay has a debit card you ca  load and make payments with. It lets you hook it up to many accounts.

Monaco card i think is coming out with a 10% rewards card(current bid for one is 200,000USD).
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June 07, 2017, 02:36:51 PM
 #65

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?
Basically I got the credit card from spectrocoin.com like a few weeks back and it is working great. To be honest I expected a cool design though it was just a simple prepaid visa credit card.

What it seems that they do is that they buy prepaid cards for your name and ship them to your address? Then you just deposit your bitcoins to their website and exchange it with the current exchange rate. What they do then is they load your prepaid card with fiat not with the bitcoins (basically you use fiat not bitcoin then) so it can be used in all the shops that accept cards.

To be honest I don't feel like I'm spending my money in a better way than just doing it with fiat. It would be the same thing as just trading my bitcoins on an exchange and loading my regular credit card.

 
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June 07, 2017, 02:41:56 PM
 #66

I think it is impossble for this to happen.First the bank doesnt actually support the bitcoin system because it doesnt allow you to trace it's record.Second is there are still countries that doesnt accept bitcoin.The goverment must accept it first before the bank.
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June 07, 2017, 02:46:56 PM
 #67

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?

I haven't seen a card like this, and I don't think many payment remitters would be willing to offer a product like this. It's too easy to simply get a credit line on a regular credit card, which will most likely have a higher limit, and pay the bill after the fact in bitcoin. You could even use a bitcoin debit card to pay the bitcoin credit bill, if you didn't have a way to convert the btc.to fiat.

A credit card that you can pay off in btc doesn't really have any advantages over a regular credit card, they would be the same instrument.
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June 07, 2017, 02:47:26 PM
 #68

Credit Card for bitcoins from my point of view would be dealing with a lot of issues so I think it would impossible for now. This is probably because bitcoins not that regulated properly since banks don't have a control over bitcoins. This is also because flow of bitcoins cannot be monitored that easily and for that reason you will find it hard to scan every credit card users identity unless some people are willing to do so or they decided to set people on this kind of job. On the other hand having a debit card would be a much better option and already have been done by other online wallets.



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June 07, 2017, 02:51:23 PM
 #69

To be able to create a bitcoin credit card, there should be a private company funding such, and that also defeats the purpose of bitcoin eluding banksters as they will be creating a similar service integrating bitcoin as well. Debit cards do exist, though you need to load it up every time you want to spend it in stores that accepts Visa or Mastercard as payment.

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June 07, 2017, 03:44:28 PM
 #70

Guess you mean Debit card — the ones that debit from your account used for buying stuff.  While Credit card get you money and stuff on credit usually available in developed countries



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June 07, 2017, 03:48:05 PM
 #71

I think it is impossble for this to happen.First the bank doesnt actually support the bitcoin system because it doesnt allow you to trace it's record.Second is there are still countries that doesnt accept bitcoin.The goverment must accept it first before the bank.
yes you are right it is impossible to have a bitcoin credit cards until the government did not accept bitcoin and until the bitcoin is not legalize by all the countries, and when the government accept it and legalize it and after the acceptance of government when the banks accept bitcoin then it is possible that may be bank issue the bitcoin credit card.



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Dimelord
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June 08, 2017, 12:36:11 PM
 #72

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?
I have heard only about bitcoin debit card and not bitcoin credit card yet.I don't know how they would be ready to lend bitcoins that too when the price is ever increasing.How would they collect back ?I think its practically very hard to offer a service like that.Thats why till now despite of bitcoin's tremendous development,no company has come forward to offer such service.
The_Dark_Knight
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June 09, 2017, 01:52:18 AM
 #73

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?
Basically I got the credit card from spectrocoin.com like a few weeks back and it is working great. To be honest I expected a cool design though it was just a simple prepaid visa credit card.

What it seems that they do is that they buy prepaid cards for your name and ship them to your address? Then you just deposit your bitcoins to their website and exchange it with the current exchange rate. What they do then is they load your prepaid card with fiat not with the bitcoins (basically you use fiat not bitcoin then) so it can be used in all the shops that accept cards.

To be honest I don't feel like I'm spending my money in a better way than just doing it with fiat. It would be the same thing as just trading my bitcoins on an exchange and loading my regular credit card.
There is not too much of a difference because in essence you are doing the same, you are converting your bitcoin to fiat first, so its no wonder it does not fell any different to you, but at least you have a debit card that you can use almost anywhere and you don’t have to carry cash.
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June 09, 2017, 02:26:54 AM
 #74

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?
We have this on our mobile app called coins.ph - it's like we can register and use coins.ph as our credit card and pa thru btc. Not that I'm advertising this app and yet I haven't tried that services, but a friend on mine testify that it's actually true and it works, specially in buying thru online stuffs.
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June 09, 2017, 02:40:01 AM
 #75

as far as i know, the current few places there was station ATM bitcoin, but really this is really rare and seems to be non-mainstream. i think, to form the credit system in bitcoin, must need the link more closely of the forum in over the world and the acception for bitcoin as a orthodox currency.




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iamTom123
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June 09, 2017, 02:52:37 AM
 #76

We already have some Bitcoin Debit Cards on the market and this is so feasible because you have to deposit Bitcoin into your own wallet provided by the issuer of the card. Now, with credit card, I am sure nobody has yet thought about it because you can have a big problem with volatility...meaning what you borrowed today may not be the same value tomorrow because Bitcoin right now is exploding to say the least.

Now, if the idea is to borrow Bitcoin so you can invest the same somewhere then maybe you can just borrow fiat money and buy Bitcoin and in that way you are not being hampered by the great volatility issue of Bitcoin.

I am not expert on this matter though so this is just my simple idea...and that is a disclaimer.
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June 09, 2017, 02:53:01 AM
 #77

Some bitcoin debit cards let you apply for a credit limit I think. Is that what you're thinking of? Otherwise there isn't a bitcoin credit card. There are services to pay your credit card with bitcoins but it's centralized and you pay a fee.
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June 09, 2017, 02:55:19 AM
 #78

Guess you mean Debit card — the ones that debit from your account used for buying stuff.  While Credit card get you money and stuff on credit usually available in developed countries

I think that is what he really meant by this thread. My online wallet has that function. It has a virtual card that serves as a debit card. I can use it in buying things online. I even used it in promoting my post in my own Facebook page. It is reallyconvenient using it.

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Peashooter
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June 10, 2017, 05:12:42 AM
 #79

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?
I think bitcoin credit card is a nice idea to all bitcoin users because you can withdraw your money instantly and easily. But, some bank in the world didn’t accept bitcoin so that I guess credit card would be a debit card that you can use in paying your bills and shopping in online market. I guess in the near future there will be a credit card that can use of all bitcoin users.
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June 10, 2017, 05:24:07 AM
 #80

I remember hearing something about a bitcoin credit card. Like, one that you pay for everything with fiat on credit, and then you pay off your bill in bitcoin. So you never have to hold fiat if you don't want to.

What's the best/most reliable credit card that does this?
I think bitcoin credit card is a nice idea to all bitcoin users because you can withdraw your money instantly and easily. But, some bank in the world didn’t accept bitcoin so that I guess credit card would be a debit card that you can use in paying your bills and shopping in online market. I guess in the near future there will be a credit card that can use of all bitcoin users.

The thing is that the OP wants a legit credit card - one that you can take out loans from.

This is probably not going to happen with any bitcoin implementation because bitcoin is irreversible and credit cards are not. So a person can get cash advances easily, using perhaps stolen credentials. There is no way the credit card company can do anything about it. They can't reverse it because bitcoin blockchain is not reversible.

Also you have to consider that people using stolen docs to open accounts is going to be a huge problem. How will the company issuing these cards ensure that everyone is legit and will pay their dues? There is nothing preventing them from using fake ID cards etc. to open an account and scam. That's why bitcoin debit cards are popular but no credit cards out there.
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