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This will be a huge factor in increasing demand for bitcoin if it comes through. The biggest problem with bitcoin now is that it's not widely accepted for payme

This will be a huge factor in increasing demand for bitcoin if it comes through. The biggest problem with bitcoin now is that it's not widely accepted for payment (i.e., it's not yet a medium of exchange). A debit/credit card is a big step in allowing people the ability to exchange their bitcoins for real goods. What will be really exciting is the day when you can actually see goods priced in bitcoin. E.g., that cupcake is going to cost you 0.1 bitcoins.

taligent 14y ago
Really you think THAT is the biggest problem with Bitcoin. Not the fact that its value fluctuates so wildly ?
- jerguismi 14y ago
  > Not the fact that its value fluctuates so wildly ? This does not worry me at all, since the value has been mostly fluctuating upwards. The positive risk outweights the negative. With this card, people can invest in to bitcoin small amount each month, and they still can use their bitcoin reserves when they need.
  - jmgao 14y ago
    BUY BUY BUY [1] SELL SELL SELL [2] BUY BUY BUY [3] [1] http://i.imgur.com/ICznv.jpg http://i.imgur.com/ICznv.jpg [2] http://i.imgur.com/YeS9o.jpg http://i.imgur.com/YeS9o.jpg [3] http://i.imgur.com/IXsjv.png http://i.imgur.com/IXsjv.png
  - dohko 14y ago
    You understand how currencies work, right? On one end of the trade there is a person that buys and the other a person that sells. Even if what you said were true (That bitcoin has mainly being flunctating upwards), then the people selling things in bitcoins are actually losing on the trade. What do you think the result of that is going to be? Goods sold in bitcoins are going to be really unstable and sellers are going to be disincetived in selling them (or they'll just charge a premium for them - making them more expensive than if you paid for them in dollars). The point is, that a currency flunctating a lot, even if mainly upwards, is not a really good thing. From a speculator perspective, volatility is a great thing, but not for everyone else.
- sgornick 14y ago
  Miners are receiving nearly $100K USD per day but the share to the smaller operators is often just small amounts, oftentimes $20 or so per month. The cost for them to cash out using the bank system is often expensive. This provides an economic method to cash out small amounts without incurring high fees.
  - enmaku 14y ago
    More to the point, they won't actually have to cash out until they're ready to make a purchase with their proceeds. This means more money kept in Bitcoin for longer instead of being cashed out to sit in a USD/EUR/GBP bank account somewhere.
- swalsh 14y ago
  That's mostly a volume problem I think, granted one of the problems with Bitcoin is it was specifically designed with no levers. Stability can never be manipulated, so we're at the whim of nature.

taligent 14y ago

Really you think THAT is the biggest problem with Bitcoin. Not the fact that its value fluctuates so wildly ?

jerguismi 14y ago
> Not the fact that its value fluctuates so wildly ? This does not worry me at all, since the value has been mostly fluctuating upwards. The positive risk outweights the negative. With this card, people can invest in to bitcoin small amount each month, and they still can use their bitcoin reserves when they need.
- jmgao 14y ago
  BUY BUY BUY [1] SELL SELL SELL [2] BUY BUY BUY [3] [1] http://i.imgur.com/ICznv.jpg http://i.imgur.com/ICznv.jpg [2] http://i.imgur.com/YeS9o.jpg http://i.imgur.com/YeS9o.jpg [3] http://i.imgur.com/IXsjv.png http://i.imgur.com/IXsjv.png
- dohko 14y ago
  You understand how currencies work, right? On one end of the trade there is a person that buys and the other a person that sells. Even if what you said were true (That bitcoin has mainly being flunctating upwards), then the people selling things in bitcoins are actually losing on the trade. What do you think the result of that is going to be? Goods sold in bitcoins are going to be really unstable and sellers are going to be disincetived in selling them (or they'll just charge a premium for them - making them more expensive than if you paid for them in dollars). The point is, that a currency flunctating a lot, even if mainly upwards, is not a really good thing. From a speculator perspective, volatility is a great thing, but not for everyone else.
sgornick 14y ago
Miners are receiving nearly $100K USD per day but the share to the smaller operators is often just small amounts, oftentimes $20 or so per month. The cost for them to cash out using the bank system is often expensive. This provides an economic method to cash out small amounts without incurring high fees.
- enmaku 14y ago
  More to the point, they won't actually have to cash out until they're ready to make a purchase with their proceeds. This means more money kept in Bitcoin for longer instead of being cashed out to sit in a USD/EUR/GBP bank account somewhere.
swalsh 14y ago
That's mostly a volume problem I think, granted one of the problems with Bitcoin is it was specifically designed with no levers. Stability can never be manipulated, so we're at the whim of nature.