Payment platforms that support Visa or Mastercard cards = the future of Bitcoin?

[dingo25]

Are payment platforms that support Visa or Mastercard debit/credit cards the future of Bitcoin? There are more and more payment platforms where you can just charge your debit card with Bitcoin and spend it like fiat anywhere in the world.



https://twitter.com/PolisPayApp/status/1246910510232150017


https://twitter.com/mrcoincoin1/status/1252960597848834049

[LeGaulois]

I guess you weren't here during the Wavecrest fiasco. It's the opposite compared to before and these remain only temporary solutions knowing that their activity can suddenly stop being at the mercy of the banks, Visa/Mastercard, and friends. I don't consider such services as a viable solution for the long term.

I read the tweets talking about gift cards. Dude I eat meat and not gift cards, I don't think my butcher is starting to accept that I pay for the meat with amazon vouchers or topping up his phone lol.

Adding the fact, the services are required to abide by the laws and perform KYC verification, how could it be the 'future of Bitcoin' as you say?
Better to keep the fiat system in this case because nothing will be different.

And when I read your posts, I wonder about the motivation behind your comments. Are you in love Polispay?

[dingo25]

Adding the fact, the services are required to abide by the laws and perform KYC verification, how could it be the 'future of Bitcoin' as you say?
Better to keep the fiat system in this case because nothing will be different.

And when I read your posts, I wonder about the motivation behind your comments. Are you in love Polispay?

My opinion is that this payment platforms are the future of crypto. I know the KYC problem and the lack of privacy when using debit cards, but this is the only way you can spend your Bitcoin and buy 'meat' at the local shop.

Maybe in the future there will be other ways you can spend Bitcoin at the local shops, but for now....

[Anonylz]

Am still trying to think of other easy ways to spend btc if not through payment system, because I know btc is not physical, it is digital,  I don't know of any btc card yet where you can spend your btc directly to buy anything without any third party,
Eventually the only available option still fall on the payment system at least for now, and I don't think kyc is such I bad thing, I already use my bank card to buy online often times, so I think this is the only way to spend crypto for now.

[Wexnident]

Am still trying to think of other easy ways to spend btc if not through payment system, because I know btc is not physical, it is digital,  I don't know of any btc card yet where you can spend your btc directly to buy anything without any third party,
Eventually the only available option still fall on the payment system at least for now, and I don't think kyc is such I bad thing, I already use my bank card to buy online often times, so I think this is the only way to spend crypto for now.

It's just temporary though. The world currently lacks the innovation to actually be able to implement the payment system of BTC in a global scale since there are a few factors that are against it. One would be that adoption of usage throughout the world would be really difficult. It's not like everyone knows what the hell cryptocurrency is. Yes, A few Payment platforms are being used to transact cryptos but only a select few actually use them and honestly, just like what was said by @LeGaulois, it's only temporary. It's actually better to call it something like a stopgap or something similar? It's like trying to force compatibility when you fully know that their characteristics are the complete opposite of each other. 

[TagaMungkahi]

No, Mass Adoption is still an event that we could hope for that can pave the way for usage of Bitcoin as a payment option in local shop for normal as is transaction and Please do remember what's the purpose of existence of Bitcoin, The Ideology of being independent from Central banks. I guess, Government and Banks will not allow the Mass Adoption, maybe they will but with regulation which is the KYC, the possible Taxes etc. Which is for me, not aligned with the Bitcoin Ideology and Reason of it's existence. Therefore, Payment Platforms Using VISA or MASTERCARD that supports cryptocurrency exchange or crypto activities is not a future of Bitcoin. It only shows that Mass Adoption is hard to push through without Government and Central Bank keeping an eye and putting all the efforts to control and regulate the future of cryptocurrency as a whole, not only Bitcoin.

[Casdinyard]

Am still trying to think of other easy ways to spend btc if not through payment system, because I know btc is not physical, it is digital,  I don't know of any btc card yet where you can spend your btc directly to buy anything without any third party,
Eventually the only available option still fall on the payment system at least for now, and I don't think kyc is such I bad thing, I already use my bank card to buy online often times, so I think this is the only way to spend crypto for now.

Bitcoin was made for peer to peer transaction so for you to spend it the other end should be able to receive bitcoin by any means. I don't think we are near to be able to have this, look how people are treating bitcoin, it's not even a currency to them it is just a mere investment, in and out profit maker. Don't get me wrong about this, no one will ever spend bitcoin if you think of the potential of it in the future. There are already platforms that has integration with bitcoin, that's a fact, yes, but have you seen the traffic? have you seen the number of user? it's very low, so I don't think it will be a thing for a few couple of years more.

[Rodeo02]

Am still trying to think of other easy ways to spend btc if not through payment system, because I know btc is not physical, it is digital,  I don't know of any btc card yet where you can spend your btc directly to buy anything without any third party,
Eventually the only available option still fall on the payment system at least for now, and I don't think kyc is such I bad thing, I already use my bank card to buy online often times, so I think this is the only way to spend crypto for now.

Third party job to make it also easier for bitcoin holders to transfer/convert their money into  fiat currency and earn fees with it.

Soon maybe there Will be stores accepting it directly as payment . but we need to understand the volatile price of bitcoin make it harder for merchant  to accept  it as payment. so the only solution  for now is convert it to fiat currency then buy the things you want using fiat money.

[davis196]

Are payment platforms that support Visa or Mastercard debit/credit cards the future of Bitcoin? There are more and more payment platforms where you can just charge your debit card with Bitcoin and spend it like fiat anywhere in the world.



https://twitter.com/PolisPayApp/status/1246910510232150017


https://twitter.com/mrcoincoin1/status/1252960597848834049

The "future of Bitcoin" isn't connected to anything outside the Bitcoin Core blockchain.
In my opinion,the future if Bitcoin IS the future of Bitcoin and payment processors are a different business,if you know what I mean.
Most of the not-so-tech-savvy people (baby boomers) know how to use a credit/debit card,but they don't know how to setup and use a cryptocurrency wallet.Having crypto debit cards might help for mass adoption,but I don't think that it will change the future of Bitcoin.
By the way,what are those tweet links that you posted?Are you somewhat promoting this PolisPayApp or something?

[lepbagong]

maybe for developed countries and internet facilities that support it well, transactions like you said will not be a problem. because obviously it is helped if a bitcoin transaction can do that.
but there are still many on the other side the country still has not received the internet network properly, clearly cannot recognize bitcoin for a transaction.
for me the bitcoin transaction actually makes it difficult because of the familiarity that has been done. it's better to trade with fiat and then do all the transactions.

[avikz]

maybe for developed countries and internet facilities that support it well, transactions like you said will not be a problem. because obviously it is helped if a bitcoin transaction can do that.
but there are still many on the other side the country still has not received the internet network properly, clearly cannot recognize bitcoin for a transaction.
for me the bitcoin transaction actually makes it difficult because of the familiarity that has been done. it's better to trade with fiat and then do all the transactions.

In a country that doesn't have interest infrastructure, probably won't have Visa or Mastercard infrastructure as well. Even with proper internet connection, a lot of countries have failed to recognize bitcoin as a method of payment. There are major countries as well where there is no clear guidelines provided for crypto transactions. In such areas, services like Bitpay or Polispay can bring good changes.

It makes sense because you will have to load the card using cryptocurrency and swipe your card in any POS terminal wherever you want. It brings mainstream adoption closer to the mass. 

[rhomelmabini]

The "future of Bitcoin" isn't connected to anything outside the Bitcoin Core blockchain.

I know what you mean and that's solely what's align to the idea of Satoshi that Bitcoin should be the thing to be used not the mode of other payment processor. Though there's a big gap of scalability I think it will be solved by the ongoing development that's being done by Bitcoin developers and those problems facing by Bitcoin right now.

[The Cryptovator]

Spending bitcoin via gift card isn't much beneficent for overall crypto community. But yes something is better than nothing, at least some how could spend bitcoin. As far as I know there is two companies allow their user to spend crypto currency directly through via card Bitpay & Coinbase. Ofcourse there is KYC requirements since you are going to use this card as fiat money, you just able to use crypto to reload card but all calculations will occur via fiat like shopping or withdrawals.

To ensure direct use of crypto currency we need worldwide bitcoin ATM, so we will able to withdraw funds and could spend as well. But it would be more complicated since still all the governments do not accept bitcoin as a global currency.

[dingo25]

Having crypto debit cards might help for mass adoption,but I don't think that it will change the future of Bitcoin.

Isn't mass adoption Bitcoins ultimate goal?

[BitcoinsGreat]

Are payment platforms that support Visa or Mastercard debit/credit cards the future of Bitcoin? There are more and more payment platforms where you can just charge your debit card with Bitcoin and spend it like fiat anywhere in the world.



https://twitter.com/PolisPayApp/status/1246910510232150017


https://twitter.com/mrcoincoin1/status/1252960597848834049

The support for bitcoin will increase with every day but for bitcoin to become official and mainstream currency, it should get support from the government officials which is hard to happen. Bitcoin is a direct threat to the banking system of the world and majority of the banks and financial institutions will never want bitcoin to grow and become a popular currency.

[coinfinger]

Those platforms are really good, but just like the second comment here pointed out, they are all at the mercy of the banks and the likes of Visa and MasterCard. The original way that Bitcoin is meant to be used is just sending from your wallet to another wallet, and nothing more.

I have used such platforms and of course I still make use of it now, one of them is BitPay, and that's what I have been using for quite some time. When you create the BitPay wallet you can order for their BitPay card by Visa and when you get it, you can fund it through your wallet, and then make withdrawals through ATM cards. I guess such ATM cards are not available for all the country people hence if new platforms work on that then they could easily get quicker success than other giants in payment processing field.

[ChiBitCTy]

Payment platforms that support credit cards or debit cards are certainly a very nice service to have that I think in one sense is the right of the card holder that they should be able to use credit cards to purchase cryptocurrency / bitcoin.  I am obviously in a signature campaign promoting one of them. I do think the average person should be very careful using credit cards however when buying cryptocurrency or bitcoin.  It's very easy to get in debt using a card that is loaning you money with out much questioning at all behind your purchases.  Be careful!