Children aged eight can have their own Mastercard: Debit cards

[remotemass]

http://www.dailymail.co.uk/news/article-2682659/Children-aged-eight-Mastercard-Debit-cards-topped-parents-offspring-use.html

[franky1]

bank: "how do we teach people to be sheeple before they realise bitcoins"
puppetmaster: "give younger people a debit card"
bank: "so we should do it now before kids start paying for school lunches with bitcoins"
puppetmaster "yes, you only got a couple months to get there first, so hurry"

[Ron~Popeil]

If it were a bit coin backed card the media types would be frothing at the mouth over exposing children to the straw man of the week. Get them trained to live on plastic early I suppose.  

[franky1]

If it were a bit coin backed card the media types would be frothing at the mouth over exposing children to the straw man of the week. Get them trained to live on plastic early I suppose.  

many banks in the UK are starting to offer person to person payments (like wire transfer) via phone apps.. this is banks trying to get into the whole paypal esq payment category also. where it uses your phone number as the recipient rather then bank account numbers (much like how paypal uses email addresses)

halifax: pay-a-contact
barclays: Pingit

the plastic card is old tech now

[Lethn]

Oh that just pisses me off, really badly, I'd like to see people not linking daily mail though and other news articles instead because these guys are full of shit.

[Ron~Popeil]

If it were a bit coin backed card the media types would be frothing at the mouth over exposing children to the straw man of the week. Get them trained to live on plastic early I suppose.  

many banks in the UK are starting to offer person to person payments (like wire transfer) via phone apps.. this is banks trying to get into the whole paypal esq payment category also. where it uses your phone number as the recipient rather then bank account numbers (much like how paypal uses email addresses)

halifax: pay-a-contact
barclays: Pingit

the plastic card is old tech now

I am kind of surprised the US hasn't seen more of that yet. I have apps for my bank accounts but they can only transfer funds between my own accounts or send them through billpay. 

[franky1]

I am kind of surprised the US hasn't seen more of that yet. I have apps for my bank accounts but they can only transfer funds between my own accounts or send them through billpay.  

well the UK started with a kind of 'billpay' system then made it open up to consumers to be recipients, using the same system.. so expect 'billpay' to expand to the consumer side. as thats what happened in the UK.

going back to the topic, in conjunction with these app systems. is that banks are now outsourcing their fiat ledgers. for instance banks are moving childresn bank account ledgers over to visa/mastercard. UK banks are moving the ledger systems over to the companies that made and maintain the Apps..

soon with bitcoin too.. banks in the traditional sense WILL be a thing of the past. and i think that is the news story that people are not realising.. we bitcoiners knew it would happen. most thought it would take decades, but stuff like outsourcing fiat ledgers will make it happen sooner

[zetaray]

We should give an eight year old a debit card and expect them to develope a sense of value. They need to learn somethings can multiple times more expensive than others. Swiping the same card to pay for a console game and a box of cereal without counting actual fiat is a dangerous habit.

[eid]

You critics have obviously not fully read the article, or you would realise your opinions are invalid:

• New prepaid debit cards are endorsed by TV presenter Davina McCall

TV presenter Davina McCall is endorsing the new cards created by British company Osper

Kill me now....make it stop...

[Meuh6879]

  they have fear ... it's good.
https://www.youtube.com/watch?v=joITmEr4SjY

[jack107]

I find it ridiculous kids have phones at that age, now they have debit cards haha wow.

[#yolo]

Considering you only spend what you have loaded there it's just like them having cash in there hands which is allowed as well (And of course this one require parent permit, right?)... Now MC and Visa can start there new race to provide comprehensive financial services and investment opportunities/advice's to toddlers!

[Lauda]

Children aged 1 can use Bitcoin. 

[commandrix]

Children aged 1 can use Bitcoin. 

No kidding -- I'd introduce children to Bitcoin by helping them download a wallet and learn how it works, and then let them start clicking around on the faucets. Tell them it's a game -- If they can solve the captchas every hour or whatever the timer is, they get a little bit of Bitcoin as a prize. Give that a few weeks while you laugh up your sleeve at them (I know faucets are a time-waster, but this is about introducing kids to Bitcoin), and then introduce them to the idea that they can buy things with Bitcoin and earn Bitcoin by doing jobs.

[Ron~Popeil]

I find it ridiculous kids have phones at that age, now they have debit cards haha wow.

It always kind of bugs me to see young kids with cell phones. The libertarian side of me says so what, but the other side of me hates the way they are begin indoctrinate into the hyper consumption thing. When I was 8 my grandparents started my first savings account for me. That was a great lesson. 

[DannyElfman]

I find it ridiculous kids have phones at that age, now they have debit cards haha wow.

I think this will make it very difficult for children to be able to learn how to manage their money when they simply use a debit card as opposed to having actual cash that they can count and see how much they have after spending it.

[yatsey87]

I think it's a good idea actually. Kids are getting smarter these days and people need to move with the times. The headline makes out like it's giving them a creditcard as well, but it's just a debitcard. I had one when I was quite young too.

[cinder]

I think it's a good idea actually. Kids are getting smarter these days and people need to move with the times. The headline makes out like it's giving them a creditcard as well, but it's just a debitcard. I had one when I was quite young too.

Being smart is one thing, understanding the value and how value is derived is another thing.

[JohnFromWIT]

I find it ridiculous kids have phones at that age, now they have debit cards haha wow.

I think this will make it very difficult for children to be able to learn how to manage their money when they simply use a debit card as opposed to having actual cash that they can count and see how much they have after spending it.

That's just the way it's going. There's less and less need for cash.
Bitcoin lives off the same idea, that eventually there will be no need for physical cash.
Pre cryptocurrency, without a debitcard of their own, kids would have to nag or rob their parents if they wanted to get anything online.
Which is kinda odd with the amount of things they spend money on online.

[iluvpie60]

http://www.dailymail.co.uk/news/article-2682659/Children-aged-eight-Mastercard-Debit-cards-topped-parents-offspring-use.html

There are a lot of other banks offering something that can be considered easier and better than using btc.

https://www.pnc.com/webapp/unsec/Blank.do?siteArea=/pnccorp/pnc/home/personal/checking/PNC+Virtual+Wallet

I had an offer in the mail that would give me 300 bucks to switch to it. I didn't do it though because i have a different bank, no need to have two.

Anyways, when I get credit card offers in the mail that give me 200 bucks back when I spend my first 500 I do it. Easy way to make an extra couple thousand a year, then never use the card again and cancel it.

Let me know when I can do that with bitcoin, for now I won't use bitcoins to buy anything, not worth it. HOLD.