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Introducing the Shift Card: Use Bitcoin where Visa is accepted

blog.coinbase.com

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Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#341

Post by sachingulaya »

pakled_engineer wrote: post #323
FooNull wrote: post #299

Earlier quoted context omitted.

Can you recommend something better? Can anyone in this comment section recommend a better service? I'm an artist who wants to use bitcoins for nearly an identical reason. However, there have been two big limiting factors, which have prevented my supporters and artist peers from using bitcoin. 1) It isn't clear how they get money into and out of the system. - The artists don't want a bunch of 'bitcoins' that they don'…

There's also Bitpay, they do the same thing coinbase does for merchants in fact most of the exchanges have some kind of merchant API so you can immediately sell coins. You could also make an agreement with somebody on your localbitcoins.com city listing, but then you run into fees and possibly fluctuations since they won't be a 24/7 service like bitpay or coinbase. Localbitcoins may have an API to automatically make…

Amusingly, bitpay told me I wasnt eligible to use their services because I vend electronic cigarettes. Too risky for them... not too risky for my cc merchant though.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#342

Post by luluki »

lquist wrote: post #224
ewillbefull wrote: post #19

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 aligns with what I would expect. I met the Coinbase founders and they were basically jerks.

Completely agree. Am surprised they made it through Jessica's Social Radar into YC.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#343

Post by csomar »

lectrick wrote: post #105
csomar wrote: post #28

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).

How long ago was it? They've gotten increasingly onerous in the past year.

Very recent. Like last month or so.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#344

Post by makomk »

Symbiote wrote: post #238
caskance wrote: post #158

Earlier quoted context omitted.

Different axis aka not security. The security is much better. But it's slow and inconvenient.

I opened an account at Metro Bank (in London), in a branch. They verified my id, then printed a debit card — this took about 10 minutes — and let me set its initial PIN in the bank. I don't know if this is now normal in the UK. The previous time I opened an account in-branch was 2004, when the chip card arrived by post a few days later, with the PIN in a separate letter.

Metro Bank are a newcomer to the market who've focused heavily on streamlining their customer enrolment because of that. I don't think other banks offer this.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#346

Post by shkkmo »

jeremyjh wrote: post #321
kudu wrote: post #292

Earlier quoted context omitted.

Does it matter? In what world is Coinbase a judge, jury and executioner who can determine if a Bitcoin transaction is 'legal' or 'illegal' with absolute certainty?

The law absolutely requires them to stop doing business with - and report on - people who they have good reason to believe fall into money laundering, terrorist financing and other KYC financial crimes categories. Their safest - and cheapest - way to comply is use rather shallow and heavily automated systems to score their customers and react accordingly.

So we shouldn't judge a company for picking their own safety and cheapness over providing timely competent support to their customers?

I don't get the point of your comment.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#347

Post by bpicolo »

hueving wrote: post #208
simantel wrote: post #169

Earlier quoted context omitted.

That's changing as of this month. Most banks have already issued new chip cards, which require a PIN. If a merchant is still using the old swipe and sign system, now they'll be liable for any fraudulent transactions if the customer has a chip card.

Incorrect. The new cards are chip and signature. No pin involved.

Debit cards are chip and pin now, granted

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#348

Post by toomuchtodo »

gohrt wrote: post #333
toomuchtodo wrote: post #286

Earlier quoted context omitted.

Indeed. USPS money orders are pretty good for getting around that. They can be cashed at any USPS facility, can be bought in $1K limits (no more than $3K per day though), and can essentially be treated as bearer bonds if you don't fill them out until time of exchange.

Why is that safer? Cops can seize cars; why can't they seize money orders?

10K in money orders is easier to conceal than $10K in cash.

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#349

Post by mirimir »

toomuchtodo wrote: post #348
gohrt wrote: post #333

Earlier quoted context omitted.

Why is that safer? Cops can seize cars; why can't they seize money orders?

10K in money orders is easier to conceal than $10K in cash.

And $10K in Bitcoin is easier still ;)

Re: Introducing the Shift Card: Use Bitcoin where Visa is accepted

#350

Post by trevelyan »

DHJSH wrote: post #222
trevelyan wrote: post #62

Earlier quoted context omitted.

As someone who first bought bitcoin at 8 USD, I'm quite enamored of the price fluctuations. Considering that it will be heading into the four and five digits relatively soon, I'm not sure this is a negative.

Good for you! Many other people wouldn't want to be bothered by them. And since you're so sure it will go up from ~350 to 1000 soon, you shouldn't be wasting time here! You should be taking every penny you can get and buying bitcoins!

good advice
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