Bitcoins?

[dimots]

gumshoe said:

No, you cannot get a bitcoin debit card.

Yes, you can.

[gumshoe]

dimots said:

gumshoe said:

No, you cannot get a bitcoin debit card.

Yes, you can.

Lol.

Link?

[dimots]

http://lmgtfy.com/?q=bitcoin+debit+card

[gumshoe]

dimots said:

http://lmgtfy.com/?q=bitcoin+debit+card

lol.

Because there isn't one.

And you clearly out of your depth in understanding why.

[dimots]

Right. For your information, a prepaid debit card is still a debit card.

[gumshoe]

dimots said:

Right. For your information, a prepaid debit card is still a debit card.

And you're the standard of person who is trying to advocate cryptocurrencies?

You can't even process information that is laid out in front of you.

Bitcoin debit card or prepaid card, makes no difference; neither exist

Are you even beginning to understand where you are wrong?

And smart alec replies when you're so in the dark only exacerbate how silly you look right now.

[dimots]

Ok.

[gumshoe]

dimots said:

Ok.

[dimots]

Some places to get a card today (edit: that should work in the UK!):

https://www.epayments.com/

https://www.shiftpayments.com/card

You can also do it through Skrill, Neteller these have always worked.

Edited by dimots on Tuesday 23 January 22:30

Edited by dimots on Tuesday 23 January 22:34

[gumshoe]

dimots said:

Some places to get a card today (edit: that should work in the UK!):

https://www.epayments.com/

https://www.shiftpayments.com/card

You can also do it through Skrill, Neteller these have always worked.

Edited by dimots on Tuesday 23 January 22:30

Edited by dimots on Tuesday 23 January 22:34

The first one mentions nothing about bitcoins or crypto

The second one is again not a crypto card. (btw it cannot be applied for from the UK).

If you want to know why it is not a crypto card, and since you have been more sensible in your approach to this conversation, I'll explain why.

The card scheme the second one works on is VISA. VISA cannot settle in any crypto currency. It will always be a fiat currency (most likely USD in this case) that the card is issued in. Want proof? Check the fees: ATM fees are charged in USD, NOT BTC or any other crypto.

Sure, there is between the card issuer and the exchange a method to "sell/exchange" the crypto for USD.

But it is in no way possible to call that card, or ANY card issued via the card schemes (VISA, Mastercard, Amex, JCB, UnionPay etc etc) a crypto currency card (i.e. card that is issued in, and settles in cryptocurrency).

[dimots]

epayments is much like Skrill and Neteller you can deposit to your account with btc and spend on your debit card.

Monaco and TenX unaffected then? Business as usual?

[gumshoe]

dimots said:

epayments is much like Skrill and Neteller you can deposit to your account with btc and spend on your debit card.

Monaco and TenX unaffected then? Business as usual?

But the debit/prepaid/credit card is NOT a btc (or any cryptocurrency) card in any of those cases.

TenX/Monaco same thing.

Xapo the same.

Not one of those cards can be called a crypto card.

They are services that exchange (i.e. sell) crpyto for fiat on your behalf when you use the card.

Which also proves the point that you are NOT ACTUALLY HOLDING CRYPTO when you use one of these services.

You are holding a DERIVATIVE of the crypto. The exchange has (or should have, assuming they are honest, and have actually systems in place to ensure they buy/sell 1:1 for all client transactions!) your crypto. You do not hold the private key.

So, how, when you are using an exchange, are you leaving the "trust" model that you decry and want to steer clear of by avoiding fiat and banking systems?

Crypto community is so ridiculous in some of its claims that crypto's success could only have been almost guaranteed.

[checkmate91]

dimots said:

Yes but storing all that cash at home is hardly easy. You will need a safe and you will need to use an armed guard and armoured car every time you want to move it around.

Doesn't that just broadcast 'get it here'?

Dealers send diamonds in the 1st class mail, completely anonymous and hard to detect.

[Gecko1978]

fblm said:

Gecko1978 said:

fblm said:

. With popularity, imo, will also come regulatory crack down; when you all have to register your wallets with HMRC I wonder how popular it will be?

I can see HMRC wanting to do this I just am struggling to see how.

Along the lines of US FBAR reporting to start with I would imagine.

I had to look that up but it relates to requirments to report foreign bank accounts. So a foreign nation will have lists of banks which operate in its area and thoes banks via KYC will know who account holders are so if US goverment thinks your lying they have a structuer to check.

So you off line wallet.....which has a record of your p2p or mined crypto keys for the block chain....how again does HMRC check that...

[Oakey]

Gecko1978 said:

I had to look that up but it relates to requirments to report foreign bank accounts. So a foreign nation will have lists of banks which operate in its area and thoes banks via KYC will know who account holders are so if US goverment thinks your lying they have a structuer to check.

So you off line wallet.....which has a record of your p2p or mined crypto keys for the block chain....how again does HMRC check that...

Well if they're really determined I supposed they'd just audit you, so if you've bought a house or fancy car with your bitcoin gains it's on you to show where the income for those came from. See the thread in Finance about claiming for mileage and the poster who said he was investigated and would have happily paid double what he owed just to get them to stop!

[Trolleys Thank You]

Some Gump said:

Trolleys Thank You said:

Yea...... Good old Barclays.

https://www.theguardian.com/money/2017/nov/04/barc...

The thing is, you're undermining your own argument there.

Not only is 6k very different to 14% of the entire circulation of Sterling, but the key factor is here:

linked article said:

Pitcher is the latest Barclays customer to contact Guardian Money after being fobbed off following a fraud. The Financial Conduct Authority has made it clear that a bank must refund to customers any “unauthorised” transactions that appear on their account.

Barclays might be acting like s, but the FCA will stop them and correct this. If they go bust, the FSCS will protect you. One of the key sales points of crypto seems to be that it's nowt to do with governments, and therefore there are no safety nets. I might be a scaredy cat, but I quite like safety nets, all told.

The FSCS covers small failure, not big. When the st hits the fan and the banks go bust, the only way they're going to cover everybody's losses is by printing a shed load more money or raiding your savings accounts to bail out the private banks. Look at Cyprus' crash in 2013. Bitcoin is about leaving that system. Financial exit, or maybe "Fixit"? Take responsibility for protecting your own money. You hold and have access to it at all times, anywhere in the world. No bank runs, no inflating away your earnings, no restrictions on where you spend your money. Just digital cash.

[jammy-git]

But Bitcoin has been just as susceptible to spikes and crashes as any other form of currency. In fact so far it's been a lot more volatile than any other currency.

[p1stonhead]

Trolleys Thank You said:

Some Gump said:

Trolleys Thank You said:

Yea...... Good old Barclays.

https://www.theguardian.com/money/2017/nov/04/barc...

The thing is, you're undermining your own argument there.

Not only is 6k very different to 14% of the entire circulation of Sterling, but the key factor is here:

linked article said:

Pitcher is the latest Barclays customer to contact Guardian Money after being fobbed off following a fraud. The Financial Conduct Authority has made it clear that a bank must refund to customers any “unauthorised” transactions that appear on their account.

Barclays might be acting like s, but the FCA will stop them and correct this. If they go bust, the FSCS will protect you. One of the key sales points of crypto seems to be that it's nowt to do with governments, and therefore there are no safety nets. I might be a scaredy cat, but I quite like safety nets, all told.

The FSCS covers small failure, not big. When the st hits the fan and the banks go bust, the only way they're going to cover everybody's losses is by printing a shed load more money or raiding your savings accounts to bail out the private banks. Look at Cyprus' crash in 2013. Bitcoin is about leaving that system. Financial exit, or maybe "Fixit"? Take responsibility for protecting your own money. You hold and have access to it at all times, anywhere in the world. No bank runs, no inflating away your earnings, no restrictions on where you spend your money. Just digital cash.

This is such wide eyed optimism its unreal.

[anonymous-user]

Gecko1978 said:

I had to look that up but it relates to requirments to report foreign bank accounts. So a foreign nation will have lists of banks which operate in its area and thoes banks via KYC will know who account holders are so if US goverment thinks your lying they have a structuer to check.

So you off line wallet.....which has a record of your p2p or mined crypto keys for the block chain....how again does HMRC check that...

FBAR has draconian criminal and financial penalties for failure to disclose foreign accounts. You can run that gauntlet if you want. How would you get caught? When you get audited because you bought real world goods or services from an undeclared wallet, or from a declared one topped up from an undeclared one? How did you get caught with only a numbered Swiss account (pre fatca)? You slip up. If it stays small and government revenue is unaffected you’re probably safe but if it gets as big as some are claiming will happen can you really see it remaining anonymous and unregulated?

Edited by anonymous-user on Wednesday 24th January 12:33

[Oakey]

There's a post in the other Crypto thread by a PH'er who has just had his HSBC account suspended for transferring a five figure sum into his account after selling his BTC. I assume he's triggered some sort of fraud / money laundering warning?