3 ms·

So * you lose the psuedo-anonymity of Bitcoin (the card has your name on it). * It's a "debit" card, so it also has none of the protection of a normal credit

by gregmac 11y ago

So * you lose the psuedo-anonymity of Bitcoin (the card has your name on it). * It's a "debit" card, so it also has none of the protection of a normal credit card (eg: if someone steals my card or over-charges or whatever, my actual money is not touched). * It's not even real Bitcoin, it requires a Coinbase account (where, from what I understand, they manage your private key, so really own your bitcoins) What exactly is the target market for this? The people who have no credit cards, the bulk of their cash in bitcoin, and also don't care about privacy? I'm not into bitcoin, but even so, I am just not seeing the appeal.

soared 11y ago
How else do you think this could possibly work? >you lose the psuedo-anonymity of Bitcoin (the card has your name on it) Nobody would ever allow anonymous card transactions. The security risks with that alone are ridiculous. > It's a "debit" card, so it also has none of the protection of a normal credit card (eg: if someone steals my card or over-charges or whatever, my actual money is not touched). Nope. Debit cards have protection, as does a coinbase account. >It's not even real Bitcoin, it requires a Coinbase account My credit card isn't even real money either! >where, from what I understand, they manage your private key, so really own your bitcoins Thats not how that works. Its a transition between traditional cards and to new forms of money like crypto-currency.
- ajarmst 11y ago
  "Its a transition between traditional cards and to new forms of money like crypto-currency" by removing all the distinguishing characteristics of crypto-currency, which I think is the OP's point.
- CPLX 11y ago
  > Nobody would ever allow anonymous card transactions. The security risks with that alone are ridiculous. Sure they would. The gift card and reloadable/prepaid debit card market is huge. In theory they try to avoid anonymous usage but in practice they don't.
650REDHAIR 11y ago
It's a step in the right direction. You can't run until you walk.

by gregmac 11y ago

soared 11y ago

How else do you think this could possibly work? >you lose the psuedo-anonymity of Bitcoin (the card has your name on it) Nobody would ever allow anonymous card transactions. The security risks with that alone are ridiculous. > It's a "debit" card, so it also has none of the protection of a normal credit card (eg: if someone steals my card or over-charges or whatever, my actual money is not touched). Nope. Debit cards have protection, as does a coinbase account. >It's not even real Bitcoin, it requires a Coinbase account My credit card isn't even real money either! >where, from what I understand, they manage your private key, so really own your bitcoins Thats not how that works. Its a transition between traditional cards and to new forms of money like crypto-currency.

ajarmst 11y ago
"Its a transition between traditional cards and to new forms of money like crypto-currency" by removing all the distinguishing characteristics of crypto-currency, which I think is the OP's point.
CPLX 11y ago
> Nobody would ever allow anonymous card transactions. The security risks with that alone are ridiculous. Sure they would. The gift card and reloadable/prepaid debit card market is huge. In theory they try to avoid anonymous usage but in practice they don't.

650REDHAIR 11y ago

It's a step in the right direction. You can't run until you walk.