Bitcoin Forum
December 06, 2016, 06:08:57 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin prepaid debit account?  (Read 716 times)
Elwar
Legendary
*
Offline Offline

Activity: 1932


www.bitpools.com


View Profile WWW
September 16, 2011, 12:58:15 PM
 #1

I have searched for debit cards before because I wanted to be able to drop my credit and debit cards and have an easy way to budget out my spending for the month.

What I found were a huge amount of fees. Fees such as $9.95 activation fee, $4.95 per month fee, a non-activity fee, 50 cents per purchase, one company requires a $99 activation fee.

A good service to compete with this may be a debit account that can be used to pay for things in Bitcoins. There would still need to be a fee for converting your dollars to Bitcoins, but the debit company can get the fees down to around .25% per transaction with high volume on MtGox which would come out to a fee of 25 cents per $100 spent.

So you could set up your debit account, keep your cash in there for spending. When you go to buy something in Bitcoins it converts cash at the current rate into Bitcoins and pays for the product.

So where is the profit for the company? You have a bunch of cash from customers, you put that in an account and collect interest or do the fiat thing and make money the same way that banks make money on deposited money. You might even be able to lower the .25% per transaction cost for those who have higher balances or even just do a (no transaction fee for accounts with more than $500). So there would be no fee.

Just a thought. I know that this actually is counter to what Bitcoin is all about because we want to encourage people to convert their currency to BTC and use it, but this would be providing a cheaper service than banks can offer and encourage Bitcoin merchants to be set up.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
1481047737
Hero Member
*
Offline Offline

Posts: 1481047737

View Profile Personal Message (Offline)

Ignore
1481047737
Reply with quote  #2

1481047737
Report to moderator
1481047737
Hero Member
*
Offline Offline

Posts: 1481047737

View Profile Personal Message (Offline)

Ignore
1481047737
Reply with quote  #2

1481047737
Report to moderator
1481047737
Hero Member
*
Offline Offline

Posts: 1481047737

View Profile Personal Message (Offline)

Ignore
1481047737
Reply with quote  #2

1481047737
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481047737
Hero Member
*
Offline Offline

Posts: 1481047737

View Profile Personal Message (Offline)

Ignore
1481047737
Reply with quote  #2

1481047737
Report to moderator
qikaifu
Full Member
***
Offline Offline

Activity: 168


God creats math and math creats bitcoin.


View Profile
September 16, 2011, 04:38:57 PM
 #2

I agree with you. we should develop some debit account/card service

If you see any of my suggestions useful, please donate me. http://btc.to/ec
Nicolai Larsen
Sr. Member
****
Offline Offline

Activity: 331


Earthling


View Profile WWW
September 16, 2011, 04:42:55 PM
 #3

Would be so awesome!

Would even pay for the card!

BTC: 1GUH16sneWgKuE1ArXrnYKN3njuherJQi1
WiseOldOwl
Full Member
***
Offline Offline

Activity: 224



View Profile
September 16, 2011, 04:50:29 PM
 #4

in the works, i had this idea ages ago.

http://cryptoswap.com
XRP/BTC/LTC/BTE
Xenland
Legendary
*
Offline Offline

Activity: 980


I'm not just any shaman, I'm a Sha256man


View Profile
September 17, 2011, 12:46:03 AM
 #5

This is a great idea... i wonder why no body has done this before? maybe its too expensive to do? maybe nobody wants to take on the embarrassment of failing in front of the whole community? any thoughts?
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!