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Author Topic: Bitcoin prepaid cards  (Read 1442 times)
mestar
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January 15, 2011, 03:30:51 PM
 #1

Low tech solution for instantaneous payments, no computer needed.

You simply print out the private key that holds a certain amount of bitcoins.  You give this paper to the receiver, who then transfers it to his wallet at the "point of sale" computer.

We are back at the original double spending problem, so the payee still has to wait for confirmations (when he transfers to his address).  However, at least the payer does not need access to his bitcoin wallet at the moment of transfer.  Also, only works for fixed amounts, similar to prepaid phone cards.

Also, if you send money in email, at least bitcoins are not lost forever if the receiving side never uses them.

Any value in this?
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January 06, 2018, 12:39:04 AM
 #2

Low tech solution for instantaneous payments, no computer needed.

You simply print out the private key that holds a certain amount of bitcoins.  You give this paper to the receiver, who then transfers it to his wallet at the "point of sale" computer.

We are back at the original double spending problem, so the payee still has to wait for confirmations (when he transfers to his address).  However, at least the payer does not need access to his bitcoin wallet at the moment of transfer.  Also, only works for fixed amounts, similar to prepaid phone cards.

Also, if you send money in email, at least bitcoins are not lost forever if the receiving side never uses them.

Any value in this?

It is better to use the newer credit cards that combine the cryptos and the traditional cards. FuzeX is a great alternative and has additional security measures.

abhishek_bittu
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February 09, 2018, 06:55:23 AM
 #3

The oldest and most established Bitcoin debit card, the Cryptopay bitcoin debit VISA card with over 34,000 issued. Cryptopay bitcoin cards have made it simple for customers to spend bitcoins at millions of businesses around the world.

For purchases both online and offline, Cryptopay makes the process convenient for users and easier than ever for merchants.

There are both plastic and virtual Cryptopay Bitcoin cards issued. Cryptopay customers are not required to complete ID verification provided if they are happy to stay within the lower debit card limits. It is possible to stay anonymous where desired.

Costs range between €15.00, £15.00, $15.00 and €2.50, £2.50, $2.50 depending on currency, location and card limits Smiley
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February 09, 2018, 07:03:16 AM
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Low tech solution for instantaneous payments, no computer needed.

You simply print out the private key that holds a certain amount of bitcoins. 

Is anyone else seeing the irony between these two statements?

A computer would of course be required to print out anything...not to mention use the blockchain to transfer bitcoin to a prepaid card.

Any value in this?

No. But I have a better idea for you, have you heard about OpenDime? OpenDime is like a bearer bond for Bitcoin. It looks like a thumb drive, you load it with Bitcoin, and then you can pass it around as payment until an owner wants to redeem the Bitcoin contained within.

Sylar2016
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February 09, 2018, 07:04:58 AM
 #5

Low tech solution for instantaneous payments, no computer needed.

You simply print out the private key that holds a certain amount of bitcoins.  You give this paper to the receiver, who then transfers it to his wallet at the "point of sale" computer.

We are back at the original double spending problem, so the payee still has to wait for confirmations (when he transfers to his address).  However, at least the payer does not need access to his bitcoin wallet at the moment of transfer.  Also, only works for fixed amounts, similar to prepaid phone cards.

Also, if you send money in email, at least bitcoins are not lost forever if the receiving side never uses them.

Any value in this?

If this will be possible I think Bitcoin will easily become the most important world currency.

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audaciousbeing
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February 09, 2018, 07:08:47 AM
 #6

Low tech solution for instantaneous payments, no computer needed.

You simply print out the private key that holds a certain amount of bitcoins.  You give this paper to the receiver, who then transfers it to his wallet at the "point of sale" computer.

We are back at the original double spending problem, so the payee still has to wait for confirmations (when he transfers to his address).  However, at least the payer does not need access to his bitcoin wallet at the moment of transfer.  Also, only works for fixed amounts, similar to prepaid phone cards.

Also, if you send money in email, at least bitcoins are not lost forever if the receiving side never uses them.

Any value in this?

The value is what you have proposed is the unique and silent partner which is Trust. In any payment system that have that feature you established there is by default the trust of the system whereby when things go wrong, there is always a way to recover the funds under normal circumstances.

Private keys are just combination of alphanumerics which you cannot even verify that its either correct or contain the amount that owner claim it contains if you don't sweep it or import it. That's is the way it is. You don't expect people to be faithful to you just because you are willing to do same to them that is why this won't work. Unscrupulous people have even found a way to double spend, reverse even with one confirmation among other issues.

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