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Bitcoin Visa debit cards are cancelled

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Re: Bitcoin Visa debit cards are cancelled

#4

Post by turblety »

I think this will be good in the long run. If VISA (and Mastercard) end up allowing Bitcoin affiliated payments through their platform, then merchants will end up not providing native support for crypto payments, as they can just use their current infrastructure.

If we want to destroy these payment monopolies in place of a (more, but I understand not completely) decentralized system, we need to encourage merchants to just implement payments directly.

edit: typical hackernews. any pro bitcoin comments result in downvotes.

Re: Bitcoin Visa debit cards are cancelled

#5

Post by jacquesm »

randomerr wrote: post #2

That weird. Bitcoin has been on up swing the last 3 months since the insider trading scandal has been dying down. https://www.coindesk.com/price/ Maybe there's a crack down from EU on Bitcoin backed cards WaveCrest didn't want to deal with it yet.

The pricing news on that page reads like a parody of what you read about ordinary stocks.

Re: Bitcoin Visa debit cards are cancelled

#6

Post by RickS »

lawlessone wrote: post #3

Just a general AML clampdown ? I can't imagine payment services are actually worried about bitcoin (yet at least) ?

I can't imagine they wouldn't be. There's a lot of gray/black money in bitcoin, and it has to get on the grid somehow. A debit card you can spend anywhere is a dream come true for that.

Re: Bitcoin Visa debit cards are cancelled

#7

Post by joosters »

turblety wrote: post #4

I think this will be good in the long run. If VISA (and Mastercard) end up allowing Bitcoin affiliated payments through their platform, then merchants will end up not providing native support for crypto payments, as they can just use their current infrastructure. If we want to destroy these payment monopolies in place of a (more, but I understand not completely) decentralized system, we need to encourage merchants to…

Ah, another classic "This is good for Bitcoin"

Re: Bitcoin Visa debit cards are cancelled

#8

Post by TazeTSchnitzel »

RickS wrote: post #6
lawlessone wrote: post #3

Just a general AML clampdown ? I can't imagine payment services are actually worried about bitcoin (yet at least) ?

I can't imagine they wouldn't be. There's a lot of gray/black money in bitcoin, and it has to get on the grid somehow. A debit card you can spend anywhere is a dream come true for that.

Big payment networks do not want to appear complicit in money laundering.

Re: Bitcoin Visa debit cards are cancelled

#9

Post by crypt1d »

WaveCrest seems to be the card provider for all major crypto debit card offerings. Its actually so popular among top searches for 'btc debit card' that I'm starting to think they are actually running the show and just have a few different front ends. Initially, they only closed visa cards for holders that were outside of EU, but now it seems to include everyone. The issue seems specific to EU-based Visa issuers. US ones seem unaffected, for now.

Re: Bitcoin Visa debit cards are cancelled

#10

Post by numismatex »

jacquesm wrote: post #5
randomerr wrote: post #2

That weird. Bitcoin has been on up swing the last 3 months since the insider trading scandal has been dying down. https://www.coindesk.com/price/ Maybe there's a crack down from EU on Bitcoin backed cards WaveCrest didn't want to deal with it yet.

The pricing news on that page reads like a parody of what you read about ordinary stocks.

Not a parody, exactly the same on most exchanges compared to stock trading exchanges. I've made 1,000% gains since late September using traditional stock trading techniques -- fundamental analysis and technical analysis - they work.
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