Quote from: IconicExpert on March 28, 2014, 11:04:05 PM

Quote from: ssaCEO on March 28, 2014, 10:27:48 PM

The Bitcoin ATMs operate by doing BTC<>USD conversion on an exchange before they spit out the money and they are NOT using Visa/MC or any other fiat payment gateways to run the transactions. The whole reason they are "bitcoin atms" is because they are stand-alone machines, like a soda machine, operated by a private owner, who chooses to release BTC for a certain price against the inbound transaction.

There is no way that cirrus or visa or other networks will allow a card that withdraws a crypto directly to fiat.

I'm not trying to shoot down your idea, but I remember when Charlie and a lot of people were really optimistic about it. They started the project when we were at about $30 and they got rejected by MC sometime around the $200 level (for Bitcoin). Because technically, there's nothing illegal or wrong about this. Trust me, it will not fly. Do the research first with V & MC so you don't waste a lot of money before you find out they won't let you do this.

Also Charlie is under house arrest now. In theory that doesn't have anything to do with this but in practice it's probably just not something you want to lean on real hard.

You continue to make nonfactual statements like: "There is no way that cirrus or visa or other networks will allow a card that withdraws a crypto directly to fiat", or "Trust me, it will not fly". That is your opinion and not fact. Have you spoken to Visa/Mastercard or any United States financial institution? Have you personally attempted to try this? What was tried by someone several years ago doesn't apply to me or what I am planning now. With all do respect, just because you own an online casino doesn't mean you are an authority on Visa, United States financial institutions, or even cryptocurrency in a whole. I have noticed in previous posts you have made opinionated statements and presented them as facts. The only fact here is no one knows, including me, what the outcome will be.

I am interested in reading constructive criticism and people voicing their legitimate concerns. I welcome both positive and negative feedback from all. But what I am not interested in reading is someone presenting opinions as fact.

This isn't an opinion, really - it's just an observation that the same thing was tried about a year ago by the founder of BitInstant which was already turning large profits and had good connections, and when it fell apart the reason was that mastercard had said they wouldn't do it.

I remember this from semi-private chats at the time, because our casino was super excited about being on board with the project.

If you think I'm talking out of my ass about something, feel free to call me on it. What I am saying though is that you should research the difficult end of the business you're proposing -- credit card integration -- before you make sweeping announcements here that would lead people to think it might actually happen. You can be defensive and angry at me if you want, but in all honesty, YOU should be the one making the disclaimers and warnings to people that I'm making. No my negativity will not stop you if you really have the power to pull it off, and no your positivity will not actually help you. So let's cut the crap. This has been tried and does not work, and your next move is probably to start pre-selling them to people.

Just go ahead and do it, and when it's done, let us know.

FWIW you might have noticed that when we moved into BlackCoin we gave zero prior warning, on this forum or anywhere else. We just did what we wanted to do, opened it, then announced. It's one thing to "get the community's opinion" but it's another to use it as a pumping strategy and a leadup to a scam. So now you know the community is interested. If/when you actually have these cards, give a shout.