Post
Topic
Board Announcements (Altcoins)
Re: Minexcoin - A new era of payments
by
ChinkyEyes
on 02/03/2018, 00:34:55 UTC
Not FUD, but I would be hesitant to trust that the debit cards on the horizon.  Nothing against Minexcoin or the team of devs and their motivation, more to do with Visa, Mastercard and other processing companies.  I know everyone seems to think that other companies can circumvent using visa or mastercard, but I am not so optimistic as it would be a liability of a company associated with Visa or Mastercard to allow business to be done with a crypto which would go against the wishes/policies of Visa and Mastercard, who any way you slice it will be needed to have a card that is accepted at most points of sale around the world.  

Truth of the matter is debit cards and credit cards are a technology on the way out anyway.  Minexcoin team would be better spending their time on the mobile wallet and creating a simple means of payment from the phones themselves such as they do in China(barcode scan), as this is the future of payments IMO. The debit card would work great right now(if it was allowed by the providers), but 5 years down the road, I have a feeling we will be paying for more things with our phones in more and more countries.  Not too mention who wants to pay Visa and Mastercard their percentage to spend our Minexcoins?  Better off adopting the new technology(and the debit cards if possible, I just wouldn't get my hopes up) as soon as possible, more use cases for Minexcoin would only further adoption.  

yes correct, credit and debit card are the past, but i think they'll survive for some years yet, so for someone could be useful have them

I agree, the debit card feature is not a must for me with Minex. These days it has become a bit of a hype/trend for coins/tokens to have a debit card feature. I would personally trust TenX or Monaco to roll out their cards first if it is possible for crypto to issue such cards. Because they have been longer in talks with card issuers than others.

Furthermore I am more excited about the atomic swaps and their own exchange. If their own exchange has a fiat gateway it will give more volume to Minexcoin. With such a feature it will not rely much on the BTC value, but people will appreciate Fiat value more as well.
i don't agree with you. If you convert crypto to fiat, you'll get taxed. If you spend MNX with debit card, you might not be taxed https://goo.gl/XfM2ad
Payment cards will exist many many years and will continue to be wide accepted payment method in real world.

I guess that depends on where you live. I pay taxes on my crypto assets whatever their value is on January 1st. So cashing into fiat does not make me pay more taxes than I already do.