2013-05-09 Techcrunch- Your Bitcoins are Finally Worth Something

[BitChick]

http://techcrunch.com/2013/05/09/your-bitcoins-are-finally-worth-something/

Basically an article about the fact that Gyft will be accepting BTC and we can convert our BTC into gift cards.

Perhaps it will help spur on more mainstream use?  I am not sure.  I wonder how easily quickly BTC can be transferred to the card for use.  It might be a good idea to keep more "cash" used on a daily basis in BTC and only tranfer what is needed to use, especially if BTC holds it's value better and rises steadily.  Just thinking about this.

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[Tirapon]

Excellent news

[cypherdoc]

http://techcrunch.com/2013/05/09/your-bitcoins-are-finally-worth-something/

Basically an article about the fact that Gyft will be accepting BTC and we can convert our BTC into gift cards.

Perhaps it will help spur on more mainstream use?  I am not sure.  I wonder how easily quickly BTC can be transferred to the card for use.  It might be a good idea to keep more "cash" used on a daily basis in BTC and only tranfer what is needed to use, especially if BTC holds it's value better and rises steadily.  Just thinking about this.

since Gyft is a mobile gift card, it looks like the transfer from BTC should be immediate.

yes, the way to do this is to preserve the value of your money by maintaining the BTC balance until you absolutely need to spend USD in the form of the Gyft card, both of which can reside on your Android.

[BitChick]

http://techcrunch.com/2013/05/09/your-bitcoins-are-finally-worth-something/

Basically an article about the fact that Gyft will be accepting BTC and we can convert our BTC into gift cards.

Perhaps it will help spur on more mainstream use?  I am not sure.  I wonder how easily quickly BTC can be transferred to the card for use.  It might be a good idea to keep more "cash" used on a daily basis in BTC and only tranfer what is needed to use, especially if BTC holds it's value better and rises steadily.  Just thinking about this.

since Gyft is a mobile gift card, it looks like the transfer from BTC should be immediate.

yes, the way to do this is to preserve the value of your money by maintaining the BTC balance until you absolutely need to spend USD in the form of the Gyft card, both of which can reside on your Android.

All BTC users should begin doing this.  Gyft was brilliant in taking BTC! 

[xcsler]

"Bitcoin is PayPal on steroids and geeks, who are the perfect target audience because they never give up and have plenty of resources at their disposal, are the ones leading the charge."

My favorite sentence from the article and I'm not even a geek!...I think.

[Gabi]

Interesting!

[tjohej]

Bitcoin fans going bananas! Humble Double Fine Bundle, Now With Bitcoin!

But techcrunch couldn't report on that. No they only report on buying drugs and guns with USD.

[BTCLuke]

Wow, this is pretty freaking awesome news!

At first I was thinking that you'd have to wait for the gift card to be shipped to your or even go pick it up at a store like walmart... But then I read that Gyft has a smartphone app that you can pay with directly, no card required!

Therefore, with a smartphone and some bitcoins, you can see something like a Burger King, decide you want a whopper at a moment's notice, transfer some bitcoin to BK Gift certificate on the Gyft app, and then go inside and buy that whopper... Just awesome.

Gyft allows you to purchase gift cards at more than 50,000 retail locations in the U.S., including Brookstone, Lowe’s, GAP, Sephora, Gamestop, American Eagle, Nike, Marriott, Burger King and Fandango.

GAME. ON.  


Edit: Just downloaded the app; All is golden (For android.) -But I hear that apple isn't letting you pay in BTC for their version of the same app.

[Mytche]

There is nothing about this I do not like.  Full of win!

I downloaded the app and bought a couple gift cards, everything works prefectly and quick.
Think I will try to use it for all my lunches next week.

[cypherdoc]

Literally every day that goes by your dollars are being debased.

You should hold your bitcoins right up until you need to spend them and check the ticker right before you convert .   

[Rygon]

Wow. I just checked this out. Looks like there isn't even a fee on the conversion rate compared with MtGox. That's huge. I'll have to play around with this some more to see how easy it is to use. It looks like there isn't an easy way to buy a gift card for yourself. Makes sense, I guess. But I guess you could buy a card, send it to someone else, and have them send it back?

Pretty nice that it includes Amazon, Walmart and Target. I'm eager to see how difficult it is to use this app in the store.

I hope these guys don't have AML problems. I can easily see them having issues though.

Edit: Looks like you can buy a gift card for yourself by buying it with BTC, sending it to your own email, log out of the app, open the email and accept the card by logging back into the account. Yeah, if this thing ever gets popular, it'll be heavily regulated because trading gift cards ~= money exchanging in the eyes of regulators.

[cypherdoc]

Wow. I just checked this out. Looks like there isn't even a fee on the conversion rate compared with MtGox. That's huge. I'll have to play around with this some more to see how easy it is to use. It looks like there isn't an easy way to buy a gift card for yourself. Makes sense, I guess. But I guess you could buy a card, send it to someone else, and have them send it back?

Pretty nice that it includes Amazon, Walmart and Target. I'm eager to see how difficult it is to use this app in the store.

I hope these guys don't have AML problems. I can easily see them having issues though.

First off, you can buy one for yourself. Just add yourself to the contacts list prior to ordering.

Second, this is the breakthrough we've all been waiting for. It is huge.

We essentially have the credit card conversion tool right on our androids now that allows us to buy just about anything in dollars.

Hold appreciating bitcoin right up to the point you really need to buy something in depreciating dollars.

[Rygon]

Wow. I just checked this out. Looks like there isn't even a fee on the conversion rate compared with MtGox. That's huge. I'll have to play around with this some more to see how easy it is to use. It looks like there isn't an easy way to buy a gift card for yourself. Makes sense, I guess. But I guess you could buy a card, send it to someone else, and have them send it back?

Pretty nice that it includes Amazon, Walmart and Target. I'm eager to see how difficult it is to use this app in the store.

I hope these guys don't have AML problems. I can easily see them having issues though.

First off, you can buy one for yourself. Just add yourself to the contacts list prior to ordering.

Second, this is the breakthrough we've all been waiting for. It is huge.

We essentially have the credit card conversion tool right on our androids now that allows us to buy just about anything in dollars.

Hold appreciating bitcoin right up to the point you really need to buy something in depreciating dollars.

Agree. Although the list of places you can buy gift cards from is actually much smaller than the list of companies that you can scan cards in from. It includes Amazon, but sadly there is a lack of places that I usually buy groceries from. There's Kmart and a bunch of restaurants, which is a pretty good start though.

[cypherdoc]

Wow. I just checked this out. Looks like there isn't even a fee on the conversion rate compared with MtGox. That's huge. I'll have to play around with this some more to see how easy it is to use. It looks like there isn't an easy way to buy a gift card for yourself. Makes sense, I guess. But I guess you could buy a card, send it to someone else, and have them send it back?

Pretty nice that it includes Amazon, Walmart and Target. I'm eager to see how difficult it is to use this app in the store.

I hope these guys don't have AML problems. I can easily see them having issues though.

First off, you can buy one for yourself. Just add yourself to the contacts list prior to ordering.

Second, this is the breakthrough we've all been waiting for. It is huge.

We essentially have the credit card conversion tool right on our androids now that allows us to buy just about anything in dollars.

Hold appreciating bitcoin right up to the point you really need to buy something in depreciating dollars.

Agree. Although the list of places you can buy gift cards from is actually much smaller than the list of companies that you can scan cards in from. It includes Amazon, but sadly there is a lack of places that I usually buy groceries from. There's Kmart and a bunch of restaurants, which is a pretty good start though.

Hey, why cook when you can use Foodler? 

[BTC Books]

Agree. Although the list of places you can buy gift cards from is actually much smaller than the list of companies that you can scan cards in from. It includes Amazon, but sadly there is a lack of places that I usually buy groceries from. There's Kmart and a bunch of restaurants, which is a pretty good start though.

You can buy groceries at Target.  They're on Gyft.  And their grocery prices are mostly pretty good - their pet food prices are the best.

[ineededausername]

Wow, I didn't know my bitcoins were worthless day before yesterday... I was poor and I didn't even know!

[cypherdoc]

Wow, I didn't know my bitcoins were worthless day before yesterday... I was poor and I didn't even know!

lol.

yeah, all those coins Charlie converted to buy EVR must've been someone's imagination.

not to mention all those girls he hangs out with in the corner booth now...

[Rygon]

Agree. Although the list of places you can buy gift cards from is actually much smaller than the list of companies that you can scan cards in from. It includes Amazon, but sadly there is a lack of places that I usually buy groceries from. There's Kmart and a bunch of restaurants, which is a pretty good start though.

You can buy groceries at Target.  They're on Gyft.  And their grocery prices are mostly pretty good - their pet food prices are the best.

I downloaded the app, and it didn't list Target as a gift card that I could purchase. I could, however, upload a Target gift card.

[BTC Books]

Agree. Although the list of places you can buy gift cards from is actually much smaller than the list of companies that you can scan cards in from. It includes Amazon, but sadly there is a lack of places that I usually buy groceries from. There's Kmart and a bunch of restaurants, which is a pretty good start though.

You can buy groceries at Target.  They're on Gyft.  And their grocery prices are mostly pretty good - their pet food prices are the best.

I downloaded the app, and it didn't list Target as a gift card that I could purchase. I could, however, upload a Target gift card.

Crap.  I saw the Target logo and figured...

[Mytche]

Went to Burger King for lunch bought a $20 card for myself and 2 $10 cards for my buddies. 
Cost me BTC 0.3326.
Took only a few seconds to get the cards.

Got a strange look from the cashier and she had to get a manager who also had never heard of paying with your phone, but had no trouble figuring it out.
Several of the people there said they were going to try it out.