Bitcoin-based credit card reportedly due in two months - Polidicks

[QUOTE] Bitcoin, the peer-to-peer currency that's been gaining in popularity, appears to be getting ready to take the leap from the digital world to the real world. Exchange service BitInstant is creating a Bitcoin-funded card that would function as a standard debit/credit card and would be honored where ever MasterCard is accepted, according to the transcript of an interview allegedly conducted wth BitInstant co-founder Charlie Shrem. During the interview, published by Coding in My Sleep, Shrem says the card might launch within the next six to eight weeks. The cards would be issued by a "major international bank" with which BitInstant has partnered and funded at a rate of 1 percent, Shrem said. Transactions of less than $1,000 will be funded after the first confirmation. Shrem posted a mockup of the card, which will feature a QR code on the front and a printed Bitcoin address on the back for funding. Shrem said he expects the first 1,000 cards to be given away for free, while subsequent cards will cost about $10. Bitcoin sprang up in 2009 as a peer-to-peer currency that intentionally avoided the prying eyes of law enforcement officials. In order to acquire Bitcoins, users access exchange sites to transfer actual currency, such as U.S. dollars, into the digital option. In June 2011, the currency attracted the attention of Sens. Charles Schumer of New York and Joe Manchin of West Virginia, who wrote a letter to Attorney General Eric Holder, highlighting the role Bitcoin plays in an online marketplace known as "Silk Road," which allows customers to buy illegal drugs. [/QUOTE] [url=http://news.cnet.com/8301-1023_3-57497014-93/bitcoin-based-credit-card-reportedly-due-in-two-months/?part=rss&subj=news&tag=readMore] Sauce [/url] Why?

My 0.001 bitcoin will finally come in handy

Now i can finally buy biological weapons with ease!

Oh cool, now i can use my 2 bitcoins.

buttcoins [img]http://i.imgur.com/FAVyM.gif[/img]

Cool It's pretty neat thing really, especially since it is not trackable.

[QUOTE='[EG] Pepper;37339124']Oh cool, now i can use my 2 bitcoins.[/QUOTE] I deleted mine because the wallet took too much space on my tiny hdd. I thought that the currency crashed into oblivion. I regret it now.

there is a program called recuva you may be able to recover it with. [editline]21st August 2012[/editline] The wallet is tiny though, it's the blocks that take up space.

Why do I get the feeling Bitcoins will crash and burn if they go mainstream like someone will get their supercomputer mining coins and run the currency into the ground or something

[QUOTE=latin_geek;37339322]Why do I get the feeling Bitcoins will crash and burn if they go mainstream like someone will get their supercomputer mining coins and run the currency into the ground or something[/QUOTE] Mining already is impossible as long as you dont have several dedicated mining pcs with several top of the line graphics cards. I really regret missing out the early days of bitcoin mining. You could basicly make hundreds and thousands of dollars just by letting your pc run.

I dont understand how bitcoin works, you mine for nothing at all.. yet get money in return?

[QUOTE=Chernarus;37339439]I dont understand how bitcoin works, you mine for nothing at all.. yet get money in return?[/QUOTE] You mine for your computing power which is electricity and get money in return or something it's a very complicated process I'm sure someone will post some links about for me to not read

Bitcoin is a joke, really. Have fun finding real world stores that use the.

[QUOTE=J!NX;37339472]Bitcoin is a joke, really. Have fun finding real world stores that use the.[/QUOTE] Dude read article, it will function as normal debit card. BitInstant will take your coins.

[QUOTE=Reader;37339496]Dude read article, it will function as normal debit card. BitInstant will take your coins.[/QUOTE] What's it working that way have to do with anything? Most people won't take bitcoin cards even still you know. I still think that it's neckbeard money. Most people that I know would look at me as if I'm fucking crazy if I tried using bitcoins. how about instead of wasting on rigs (yeah I know they used to be good and you could buy more rigs that way, now bitcoins aren't), buy things with real world money from working.

[QUOTE=J!NX;37339521]What's it working that way have to do with anything? Most people won't take bitcoin cards even still you know. I still think that it's neckbeard money. how about instead of wasting on rigs (yeah I know they used to be good and you could buy more rigs that way, now bitcoins aren't), buy things with real world money from working.[/QUOTE] Dude you give coins to BitInstant, not to stores. BitInstant and whatever bank it has contract with, gives standard credit card money to stores.

[QUOTE=J!NX;37339472]Bitcoin is a joke, really. Have fun finding real world stores that use the.[/QUOTE] [url]http://www.bitcointrading.com/forum/index.php?topic=16.0[/url]

[QUOTE=Within;37339552][url]http://www.bitcointrading.com/forum/index.php?topic=16.0[/url][/QUOTE] that's what I meant I've heard of none of these and you do realize those take up like, less than 1% of the market? Maybe in the city, but everywhere else, no. [QUOTE=Reader;37339543]Dude you give coins to BitInstant, not to stores. BitInstant and whatever bank it has contract with, gives standard credit card money to stores.[/QUOTE] yeah and aren't bitcoins inflated at this point to a bad amount?

[QUOTE=J!NX;37339578] yeah and aren't bitcoins inflated at this point to a bad amount?[/QUOTE] It's actually about 10$ per coin. It was stable $5 per coin for like last 6 months.

Bitcoin mining is just not feasible. [url=https://eclipsemc.com/index.php]Eclipse Mining Consortium[/url] is mining with ~1500 miners and earning, at average, 9.63 BTC daily. That's USD 100.

[QUOTE=J!NX;37339521] how about instead of wasting on rigs (yeah I know they used to be good and you could buy more rigs that way, now bitcoins aren't), buy things with real world money from working.[/QUOTE] Mining is just one way to get bitcoins. You can buy them with real world money and even earn them by working. There is/was a site with job offers where you get paid with bitcoins.

[QUOTE=Within;37339622]Bitcoin mining is just not feasible. [url=https://eclipsemc.com/index.php]Eclipse Mining Consortium[/url] is mining with ~1500 miners and earning, at average, 9.63 BTC daily. That's USD 100.[/QUOTE] They mine at 2.46 TH/s collectively. No way they are earning 9.63 daily. 2.46 TH/s gets you much more than that.

[QUOTE=Desuh;37339712]Mining is just one way to get bitcoins. You can buy them with real world money and even earn them by working. There is/was a site with job offers where you get paid with bitcoins.[/QUOTE] Jobs, I guess I could understand if they're online, but simply buying bitcoins wouldn't make sense, why not just purchase with the raw currency instead?

[QUOTE=Within;37339552][url]http://www.bitcointrading.com/forum/index.php?topic=16.0[/url][/QUOTE] reminds me of the guy who ordered insulin but it turned out to be saline and he almost died lol

[QUOTE=J!NX;37340607]Jobs, I guess I could understand if they're online, but simply buying bitcoins wouldn't make sense, why not just purchase with the raw currency instead?[/QUOTE] try bitcoin out and you may or may not see the appeal

If it wasn't such a worthless currency I'd be excited to see the successor to Mondex but it really isn't all that useful.

[QUOTE=MIPS;37341508]If it wasn't such a worthless currency I'd be excited to see the successor to Mondex but it really isn't all that useful.[/QUOTE] Worthless? Each bitcoin is worth ten fucking dollars, it's seems to be going pretty strong to me

i'm waiting for the cosbycoin credit card [img]https://1e400.net/i/http://i.imgur.com/9wBbO.png[/img] [url]http://cosbycoin.org/[/url]

Yeah bitcoin is getting stronger and stronger. Its really good for doing business online and staying anonymous.

[QUOTE=rulssi;37341798]Yeah bitcoin is getting stronger and stronger. Its really good for doing business online and staying anonymous.[/QUOTE] [img]https://1e400.net/i/http://i.imgur.com/erGvK.png[/img]