bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 07:23:58 PM Last edit: December 16, 2013, 10:58:06 PM by bitstripe |
|
Hey everyone, We are developing an all in one payment card that replaces your entire physical wallet and allows you to spend your BTC just like cash at any merchant. We are hoping to get some good feedback from users as we finish development of the system, would you use it? What features do you want to make sure we incorporate to make it useful? You can also check us out at www.gobitstripe.comBrief overview: *1-The card itself is powered by a small microcontroller and has Bluetooth connectivity. It communicates with our app on your smartphone to dynamically update its magstripe to emulate whichever of your cards it needs to. We have security features in place that block attempts to add cards not assigned to you. *2-Your BTC stay exactly where you have them now, basically when you want to add cash to your card the application gives you an address and once the BTC are received we automatically authorize the funds to be spent on your card. The timeframe for this is dependent on the BTC transaction confirmation time, otherwise it's essentially done in real time. This allows you to time your, say BTC-USD per the market s Whenever you need cash. *3-magnetic stripes are pretty low security and can be cloned with $10 of equipment if your wallet was ever lost or stolen. Going to a dynamic card actually greatly increases your security by requiring authenticating via either checking to see if your phone is near (and so are you hopefully) or by needing to enter a PIN on the card itself.
|
|
|
|
Interized
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 280
Merit: 250
Coolness: ∞
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 07:28:04 PM |
|
Hey everyone, We are developing an all in one payment card that replaces your entire physical wallet and allows you to spend your BTC just like cash at any merchant. We are hoping to get some good feedback from users as we finish development of the system, would you use it? What features do you want to make sure we incorporate to make it useful? You can also check us out at www.gobitstripe.comOf course we would use it, I've been waiting for something like this for along time.. It could be a good introduction for the merchants, seeing that they could skip the middle man if they wanted or just keep taking cash.
|
Gold isn't the answer.
|
|
|
Aswan
Legendary
Offline
Activity: 1734
Merit: 1015
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 07:44:13 PM |
|
Only if the card can be bought and loaded anonymously.
|
|
|
|
bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 07:50:20 PM |
|
Hey everyone, We are developing an all in one payment card that replaces your entire physical wallet and allows you to spend your BTC just like cash at any merchant. We are hoping to get some good feedback from users as we finish development of the system, would you use it? What features do you want to make sure we incorporate to make it useful? You can also check us out at www.gobitstripe.comOf course we would use it, I've been waiting for something like this for along time.. It could be a good introduction for the merchants, seeing that they could skip the middle man if they wanted or just keep taking cash. Exactly. This first step is a painless way for merchants to start accepting BTC and for everyone to spread the word. Once they realize they can save on fees by accepting directly they will switch over.
|
|
|
|
hilariousandco
Global Moderator
Legendary
Offline
Activity: 3934
Merit: 2676
Join the world-leading crypto sportsbook NOW!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:18:06 PM |
|
Hey everyone,
We are developing an all in one payment card that replaces your entire physical wallet and allows you to spend your BTC just like cash at any merchant.
Yes, this would be great and would be an excellent step to mainstream adoption. Would it work like a regular chip-and pin format with card reader, but obviously one that relayed with the blockchain?
|
|
|
|
Borbolon
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 112
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:18:24 PM |
|
|
|
|
|
EnderHf
Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 60
Merit: 10
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:23:37 PM |
|
Well yea I would use it but not many people still accept btc
|
|
|
|
hilariousandco
Global Moderator
Legendary
Offline
Activity: 3934
Merit: 2676
Join the world-leading crypto sportsbook NOW!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:28:01 PM |
|
Well yea I would use it but not many people still accept btc
Yes, but hopefully they will in the future, and a Bitcoin-like credit card would be a great way to gain mainstream acceptance.
|
|
|
|
mgio
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:34:53 PM |
|
We'd use it but there isn't any way it is going to happen. Bitinstant announced one a long time ago but the regulations make it impossible.
I suggest you give up.
|
|
|
|
bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:39:51 PM |
|
Ultimately it will act as a complete end to end solution. However in the meantime as the market grows to accept bitcoin as a direct payment method our system will leverage the existing infrastructure installed by Visa/MC so that customers can use their BTC at any merchant that currently accepts credit cards. This will spread visibility in physical transactions.
|
|
|
|
beetcoin
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:48:08 PM |
|
a keychain would be cool.. i met a member on this forum who knows someone planning to make one of those. We'd use it but there isn't any way it is going to happen. Bitinstant announced one a long time ago but the regulations make it impossible.
I suggest you give up.
seems like there is still a lot of hesitation of adopting BTC as a form of payment by a lot of companies. even with the senate hearings, it's still an undfined issue.
|
|
|
|
bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 08:56:38 PM |
|
a keychain would be cool.. i met a member on this forum who knows someone planning to make one of those. We'd use it but there isn't any way it is going to happen. Bitinstant announced one a long time ago but the regulations make it impossible.
I suggest you give up.
seems like there is still a lot of hesitation of adopting BTC as a form of payment by a lot of companies. even with the senate hearings, it's still an undfined issue. With our system the merchant is receiving whatever currency they're currently used to. There is absolutely no additional infrastructure required as all the transactions are processed on their end just as if it were a Visa / MC transaction.
|
|
|
|
Interized
Sr. Member
![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif) ![*](https://bitcointalk.org/Themes/custom1/images/star.gif)
Offline
Activity: 280
Merit: 250
Coolness: ∞
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 09:01:47 PM |
|
Only if the card can be bought and loaded anonymously.
I really hate ignorant people like this, NO, we will not support scammers like you. I would never use or support a system that was built from anonymous just so idiots like this guy can easily rob people.
|
Gold isn't the answer.
|
|
|
hilariousandco
Global Moderator
Legendary
Offline
Activity: 3934
Merit: 2676
Join the world-leading crypto sportsbook NOW!
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 09:05:27 PM |
|
Only if the card can be bought and loaded anonymously.
I really hate ignorant people like this, NO, we will not support scammers like you. I would never use or support a system that was built from anonymous just so idiots like this guy can easily rob people. He might not be intending to rob any one, some people just like the idea of the anonymity of Bitcoin, and/or also don't want the government or whatever snooping in on their purchases.
|
|
|
|
bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 09:32:35 PM |
|
We take privacy very, very seriously and are working hard to minimize the information, if any that is required for us to issue cards to our users.
|
|
|
|
gamer4156
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 10:29:59 PM |
|
Is the BTC converted instantly into USD at the time of purchase?
|
|
|
|
bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 10:43:52 PM |
|
Is the BTC converted instantly into USD at the time of purchase?
The only limitation for the transaction is the BTC verification time. You can make the conversion at any time, whether you convert enough for you to spend throughout the week or several times a day, you can effectively play the exchange rate as long as you can wait the few minutes for the verification to come through.
|
|
|
|
quone17
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 10:45:16 PM |
|
I'm not sure if this is what you had in mind, but a card that was connected to my btc wallet and I could then automatically convert it it's USD and spend it like a credit card, now that would be awesome. If it's what I think it is though, wouldn't the merchant have to accept BTC? and there aren't many who accept it.
My major issue is I can't convert BTC in fiat and then withdraw the fiat. If I could spend it like cash then I wouldn't have to withdraw it, so I'd be more willing to hold onto BTC for a long time.
|
|
|
|
bitstripe (OP)
Newbie
Offline
Activity: 12
Merit: 0
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 16, 2013, 10:55:04 PM |
|
I'm not sure if this is what you had in mind, but a card that was connected to my btc wallet and I could then automatically convert it it's USD and spend it like a credit card, now that would be awesome. If it's what I think it is though, wouldn't the merchant have to accept BTC? and there aren't many who accept it.
My major issue is I can't convert BTC in fiat and then withdraw the fiat. If I could spend it like cash then I wouldn't have to withdraw it, so I'd be more willing to hold onto BTC for a long time.
Yes, its as awesome as you think! Basically what is happening behind the scenes is our system is issuing a one time use Visa / MC for a specified amount to be spent at the merchant. In parallel, the system calculates the BTC required to fund the equivalent in say USD and gives you an address to send that amount of BTC to. Once the transfer is confirmed then the card is ready to go! This means that you get to keep your wallet however you'd like, your funds stay in BTC until you need them, and the merchant doesn't need to accept BTC as he is accepting fiat for the transaction. Hope this makes sense?
|
|
|
|
TheGr33k
|
![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 17, 2013, 04:18:11 AM |
|
I saw this on reddit, my only concern is that it may not work in canada. Plus the price :/ but yeah. I am new to bitcoins so I cannot really give input on the product
|
|
|
|
|