Indiegogo Crowdfunding - Bitcoin Debit / Credit Card

[BitCard Group]

Bitcoin Debit / Credit Card

Increase Liquidity - Increase Adoption - Increase Value - Maintain Security

The world's first widely accepted Bitcoin Debit / Credit Card is nearly here. How?

First - Each Bitcoin Card will be connected to a secure Wallet to enable the user to connect to their Bitcoin Debit Card upon which the balance determines the card limit. Based upon market Bitcoin price, any Debit purchase made will be converted, same as any foreign currency. Maintain Security & Increase Liquidity.

Second - First in history pure Credit purchases on the same card can be made when transaction is run on Credit instead of Debit. At the option of the consumer, Credit may be activated with Credit limit based on specific criteria.
  
Anywhere credit cards are accepted, so will be Bitcoins - liquid & secure (plus potentially any crypto-currency) conveniently and smoothly. Initial Bitcoin Card will be Debit which can still be used anywhere Debit/Credit Cards are accepted. Shortly thereafter, a pure Credit option (month-end bill conveniently paid via Bitcoin) will be available to consumers as well.

Main components:

• Physical Bitcoin Debit/Credit Card - used the same as any Visa Debit/Credit Card. Not your traditional plastic  - Stainless Steel Card. Each card will have Wallet address and QR code for person to person transactions.
• Bitcoin Wallet - Debit Card limit determined via wallet balance at Bitcoin market. At option of consumer, Credit issuance can be Wallet based.
• Push & Pull API determining card limit.
• Secure Website - Check exchange rate, account balance & transfers.
• Password Protected App - Check exchange rate, account balance & transfers.

While the concept is simple, the mechanics are not. The Bitcoin Card will be based on a private label Visa Debit/Credit Card. As underwriting for such a venture is non-existent, a track record must be established prior to issuance of unsecured credit. At launch, the Bitcoin Card will operate as a pre-load Debit/Credit card. Limit is established via Bitcoins loaded to the wallet based upon exchange rate. Additional proprietary elements such as inner mechanics of the revolutionary wallet, password protected app w/ burn feature, and monetary processing specifics of this venture cannot be discussed until launch. What we can disclose is purchases will need a pool of USD funds to temporarily float  as an intermediate of these quick transactions, hence the large start-up capital needed.

What We Need & What You Get
Financial institutions do not like change, even inevitable change. Early adopters will be this change - altering the face of business transactions forever. To issue cards, integrate, and temporarily float Debit/Credit transactions our financial forecasting calls for $200,000 in funds. We seek your support to spearhead success of this venture, which will not go unrewarded to contributors.

Depending on contribution;  

• $5 Contributors will receive a vinyl Bitcoin decal to spread awareness.
• $25 Contributors will be the first in history to receive a physical and Limited Edition Bitcoin Debit & Credit Card in the mail.
• $50 Contributors - In addition to Bitcoin Card; will receive a T-shirt and/or additional alternative useful promotional item(s).
• $100 Contributors -In addition to Bitcoin Card and Promotional Items; will receive $1 for $1 their contribution in the form of Bitcoins placed in the user's wallet after establishment at market price within 1 year of launch.
• Private funds will be sought in the event of contribution shortfall.

The Impact

The implications of a decentralized standard currency are limitless. Less reach and control by others upon your finances increases freedom of every nature. Bitcoin is a revolution in and of itself, however infrastructure is needed at this early stage of its existence. Bitcoin Debit/Credit Card will increase liquidity, adoption and facilitate stability and growth in value. Bitcoin offers the ability to maintain solid presence and backing beyond mere "faith" in printable paper currency - connecting to a Debit/Credit Card offers the desired liquidity.

Bitcoin is revolutionary in and of itself, but still has the caveat of liquidity.  
Crypto-currency will be as game changing to business as the dawn of the internet.
Amazon, Paypal, NewEgg, OverStock are just a few of the companies that see the writing on the wall and accept Bitcoin. The missing element is wider acceptance and convenience.

Risks & Challenges

Bitcoin is disruptive, therefore feared by established financial institutions as it erodes their control and frankly profit. For this reason, Bitcoin and especially a widely accepted form of Bitcoin payment is a target.
As successful entrepreneurs with business and finance background, we believe we have the necessary professionals with the proper skill-sets to persevere and overcome outside threats.
With start-up experience and part owner of a 400+ employee company, we have the tools necessary to ensure success. Although the integrated technology will be the first of its kind, our trials show proof of concept.
 
Other Ways You Can Help

Some people just can't contribute, but that doesn't mean they can't help:

• Accepting Bitcoin contributions:  1D87TeM3KqsgNtXeyng1EqY4fCX7dmi8uU
• Ask folks to get the word out and make some noise about the first Bitcoin Debit/Credit Card.
• A simple share with the Indiegogo share tools is a tribute to freedom.

We know this projet will be heavily criticized for various reasons, however the bottom line is anything that furthers Bitcoin prominence for transactions is good. Bitcoin needs additional infrastructure to continue wide adoption. Always easier to criticize than embrace, but we welcome questions. Together we can forever change the face of business transactions.

Share: http://igg.me/at/BitcoinCC

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[dopecoindude]

Is this yours also ?

https://bitcoinstarter.com/projects/1049

[BitCard Group]

Yes Sir. Listed on bitcoinstarter which appears to have less traffic, but want to put out there for increased exposure.

[bitcoinstarter]

Yes Sir. Listed on bitcoinstarter which appears to have less traffic, but want to put out there for increased exposure.

Thanks for putting it up. We are working on the traffic aspect , and hopefully we can get yours/ and other projects funded!

[BitCard Group]

Yes Sir. Listed on bitcoinstarter which appears to have less traffic, but want to put out there for increased exposure.

Thanks for putting it up. We are working on the traffic aspect , and hopefully we can get yours/ and other projects funded!

Absolutely, love the website. Easy experience, as Bitcoin continues to grow and word get circulated about bitcoinstarter.com we see great success!

Would be awesome.
Best of luck to you.

Thank you! We are looking to increase awareness, share with friends if possible.

With added liquidity you could be at the store/gas station and see Bitcoin is at $500 while you purchased at $400 or $300. Then on days you see Bitcoin is trading below your purchase, you can use your other cards.

[bitcoinstarter]

Yes Sir. Listed on bitcoinstarter which appears to have less traffic, but want to put out there for increased exposure.

Thanks for putting it up. We are working on the traffic aspect , and hopefully we can get yours/ and other projects funded!

Absolutely, love the website. Easy experience, as Bitcoin continues to grow and word get circulated about bitcoinstarter.com we see great success!

Thank you sir! I hope so. Its been a wild and fun ride needless to say!

[TingCoin]

This would be amazing...
So you'd send BTC to the cards wallet and you could purchase anything in ££ as long as it doesn't exceed the current value of your BTC? On top of that, a credit card where you can pay off your credit in BTC?

You know, if there were no fees (e.g. 2.5% fee to exchange BTC to GBP for each purchase or something silly like that), and it could be used at an ATM like a debit card with no fees, I'd use this all the time, everyday.

Would the card have 2 balances (e.g. BTC and GBP) so that you can deposit BTC and exchange for GBP (on the card) and vice versa using the web/app? Or will it simply be a case of deposit BTC to make purchases / use ATM's and it is only exchanged for GBP at the current rate there and then, when you make the purchase?

[newyorker91]

Good luck and let's rock!

[bitsalame]

Who's your processing partner?

[BitCard Group]

This would be amazing...
So you'd send BTC to the cards wallet and you could purchase anything in ££ as long as it doesn't exceed the current value of your BTC? On top of that, a credit card where you can pay off your credit in BTC?

Exactly right. Some criteria is needed i.e. card limit based on 90% of current BTC.

You know, if there were no fees (e.g. 2.5% fee to exchange BTC to GBP for each purchase or something silly like that), and it could be used at an ATM like a debit card with no fees, I'd use this all the time, everyday.

Some type of transaction fee would be needed as substantial infrastructure will be in place. BTC is still considered highly risky in the financial services world similar to Forex. However the good news is we are in negotiations and as there would be zero cash back and zero charge back, this would enable 4% BTC-back according to current financial model.

Would the card have 2 balances (e.g. BTC and GBP) so that you can deposit BTC and exchange for GBP (on the card) and vice versa using the web/app? Or will it simply be a case of deposit BTC to make purchases / use ATM's and it is only exchanged for GBP at the current rate there and then, when you make the purchase?

We will have various currencies available for basis, however only one at a time. Purchase limit will be based on the primary currency, which must be selected. It is unclear at this point if this can be changed via App on the road, or a 24 hour waiting period is needed to take effect.

[BitCard Group]

Who's your processing partner?

Currently in negotiations with several. Quite a few still deem BTC too risky, despite our efforts to convince otherwise. Some believe it is prudent to charge extremely high fees to offset risk despite multiple fail-safes which can be put into place to protect the processor and Bitcard. Thus far the best processor we have found requires a large sum of funds to be placed into a trust account as collateral which is not unreasonable.

[bitllionaire]

it is a really interesting project,but your goal is too high to reach

[xmasdobo]

Awesome, now I can go from FIAT debt to BTC debt.

[BitCard Group]

it is a really interesting project,but your goal is too high to reach

Agreed, investor funds will be needed. We have enough capital for initial integration, however need funds for trust account and to "float" transactions.

Awesome, now I can go from FIAT debt to BTC debt.

Stick with the standard Debit option available and choose not to opt into Credit if you prefer no debt.

Fact is debt is an important financial tool (when used properly) otherwise few people would own a house or car.

These days many rely on credit simply to get food & gas between pay checks. This would be a far better alternative than predatory lending institutions.

[BitCard Group]

We want to gauge interest in a Bitcoin Debit / Credit Card.

Please post if this is something you see yourself using at times!

[TingCoin]

This would be amazing...
So you'd send BTC to the cards wallet and you could purchase anything in ££ as long as it doesn't exceed the current value of your BTC? On top of that, a credit card where you can pay off your credit in BTC?

Exactly right. Some criteria is needed i.e. card limit based on 90% of current BTC.

You know, if there were no fees (e.g. 2.5% fee to exchange BTC to GBP for each purchase or something silly like that), and it could be used at an ATM like a debit card with no fees, I'd use this all the time, everyday.

Some type of transaction fee would be needed as substantial infrastructure will be in place. BTC is still considered highly risky in the financial services world similar to Forex. However the good news is we are in negotiations and as there would be zero cash back and zero charge back, this would enable 4% BTC-back according to current financial model.

Would the card have 2 balances (e.g. BTC and GBP) so that you can deposit BTC and exchange for GBP (on the card) and vice versa using the web/app? Or will it simply be a case of deposit BTC to make purchases / use ATM's and it is only exchanged for GBP at the current rate there and then, when you make the purchase?

We will have various currencies available for basis, however only one at a time. Purchase limit will be based on the primary currency, which must be selected. It is unclear at this point if this can be changed via App on the road, or a 24 hour waiting period is needed to take effect.

So you're saying you wouldn't be able to spend your entire BTC balance on the card? Also what do you mean by "4% BTC-back"?

[BitCard Group]

So you're saying you wouldn't be able to spend your entire BTC balance on the card? Also what do you mean by "4% BTC-back"?

Correct, due to price fluctuations a buffer would need to be built-in. Limit would be based on 90-95% of Bitcoin value currently, however this may not be necessary.

Consumers would earn 4% back on purchases. Once a certain level is reached (.02 Bitcoin increments for example) they can be redeemed and will be transferred to the consumers Wallet. This is possible due to the traditional 1% cash-back and typical charge-backs will not be processed as typical cards. 

[bitsalame]

Are you guys based in the US?

[BitCard Group]

Are you guys based in the US?

Yes, Scottsdale, AZ.