31–40 of 359 posts
Earlier quoted context omitted.
You'll have all the rights of a Visa cardholder, such as the ability to file a chargeback.
Are you sure? This is debit, not credit. I believe your rights with debit a fair bit weaker (might depend on issuer though).
You can now use Bitcoin anywhere VISA is accepted, so long as coinbase doesn't close your account, ignore you and close all the tickets you open. Even if you painstakingly collect and compile sensitive documents for them to review, which was a gigantic waste of my time, thanks! I have for months encouraged everyone I know not to use coinbase and will continue to do so.
That's really weird. I moved money in the 6 figures in Coinbase and have uploaded no documents whatsoever. Never had a question from them. (except for sending big amounts, they ask you if it is for an exchange or wallet).
Or vise-versa
"The default PIN is the last four digits of your registered mobile phone number. Please call Shift support at 800-897-0717 to reset your Shift Card pin." That's a terrible idea. This isn't a library card. You're PIN shouldn't be known by anyone who knows your phone number.
that is terrible, especially for a company in the bitcoin space which should be encouraging best practice for security at all times.
Part of the appeal of bitcoin to many is "Banks are so unnecessarily expensive to transmit value", the bitcoin industry has slowly and painfully been learning one disaster after another that maybe some of that cost isn't unnecessary after all.
I can't really find details on how this works. I assume the merchant still receives USD in the transaction along with the typical Visa card transaction fees. Which in that case, what is the point?
You don't have to hold dollars to spend dollars, is the only thing I can think of.
You can now use Bitcoin anywhere VISA is accepted, so long as coinbase doesn't close your account, ignore you and close all the tickets you open. Even if you painstakingly collect and compile sensitive documents for them to review, which was a gigantic waste of my time, thanks! I have for months encouraged everyone I know not to use coinbase and will continue to do so.
This card looks like an OK product (still open questions about how much coinbase is gaming the ask/bid spread) but just realize that this card does NOT use Bitcoin, it uses "Coinbase Bitcoin"[1] which is Bitcoin for which the coinbase company is managing your private key: You only truly own Bitcoins if you own the private key for the account (users of MtGox learn this the hard way last year)
I do think Coinbase also offers a safer multisig account where you own an independent key and no one, including Coinbase, can withdraw money without your permission (was it called "Coinbase Vault?") If you put the majority of your funds in that independent system (or just keep them off Coinbase entirely) and put money in peace-meal to load up your coinbase Visa card you will greatly reduce your exposure to third-party risks.
[1] Reading the documents, it actually uses "Coinbase USD" which is the same difference.
Earlier quoted context omitted.
That's really weird. I moved money in the 6 figures in Coinbase and have uploaded no documents whatsoever. Never had a question from them. (except for sending big amounts, they ask you if it is for an exchange or wallet).
Almost equally bad.
Nor is there any sensible moral argument for why companies should impose burdensome and disproportionate identity checks on customers who value their financial privacy. It is unfortunate to see this sort of comment on a site devoted to entrepreneurship.