4 ms·
> There's nothing stoping someone from offering a credit account (e.g. a consumer credit card) denominated in Bitcoin. It's definitely possible to offer a cred
by sehrope 13y ago
> There's nothing stoping someone from offering a credit account (e.g. a consumer credit card) denominated in Bitcoin.
It's definitely possible to offer a credit card transacting in bitcoin though it would have a number of technical differences. One big one is that the settlement process would need to be immediate, otherwise the transaction would be rejected. With a normal credit card transaction the funds don't actually transfer till the end of the day (if you're lucky) or the next business day (most of the time). With a bitcoin backed card it'd need to be immediate and the credit card company would need to have the bitcoin "at hand" at the time of the transaction.