2
A week ago Kim Dotcom posted that a Bitcoin Credit Card would be something that he would be keen to support. Apart from Bitcurex, which is a different system and slightly lacking in credability and trustworthiness, I'm interested in a card which works like a credit card but is intrinsically integrated with the BTC system.
Due to the nature of Bitcoin, would a credit card-esque form of payment actually be viable?
If so, how?
2
This type of product has been tossed around since at least May 2011 when MagicalTux was the new owner of Mt. Gox. They no longer discuss it.
BitInstant "leaked" such a Mastercard in Fall 2012. They claim it is "seeing progress" but there's nothing yet.
There are similar cards. Peter Schiff's Euro Pacific Bank offers a gold-backed debit card where gold funds are sold when using the debit card to make purchases using fiat. But that is not available to customers from the U.S.
Thanks guys. I agree that a debit card is more likely, but what I'm really interested in finding out is how the process behind the transaction would work. I mean, would it be similar to the Euro Pacific Bank Card, if so how can we maintain the decentralised nature of Bitcoin? – TomRoskilly – 2013-03-11T13:48:24.383
1A debit card is quite obviously not a problem.
A credit card's only difference is that there is someone willing to trust you for an amount of money. – o0'. – 2013-03-11T11:59:39.027