Post
Topic
Board Project Development
Re: iBTCARD: Worlds first bicoin debit card - More Details & Poll
by
tradecoinz
on 26/07/2013, 01:09:56 UTC
tradecoinz, instead of BTC denominated debit cards, what about local fiat denominated cards that you buy with BTC.

   That makes plenty of sense right now. However, that doesn't do any good for the Bitcoin economy. The purpose of this company is to get Bitcoins widely accepted and give merchants benefits by using our interchange network. If you want any sort of currency to work, you need to get it widely accepted. Currently, 50% of bitcoins are lying in dormant accounts. That's concerning. Converting bitcoin into fiat then using that fiat to purchase goods and services is not a logical thing to do.

   If you wanted a prepaid, you will need to pay a 5% fee and the merchant will still get hit with high processing fees. This service gives card holders the ability to not have to exchange their Bitcoins for fiat. This also gives merchants lower processing fees by using our interchange network. Yes, this card will take some time to integrate into POS systems and get it widely accepted. However, would merchants and yourself like to keep paying 9% in fees? We give users an easier way to access and use their bitcoins without a powered and internet connected device. Furthermore, our processing fees are lower than companies such as Visa or MasterCard. Even with services that trade bitcoin into fiat prepaid cards; such services can be shut down any time by Visa, MasterCard, Amex.

Best,
Cameron Halter
https://ibtcard.com/