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Bitcoin Debit Cards Suspended After Upstream Visa Rules Infraction (thenextweb.com)
At least four pre-paid debit cards that accept cryptocurrencies abruptly suspended service on Friday. An anonymous reader quotes TheNextWeb:
Speaking to their customers on Twitter, the affected companies have said the move is the result of actions from their card issuer, [WaveCrest], who was acting on behalf of Visa Europe... A statement from Visa Europe obtained by The Daily Beast reporter Joseph Cox said the action was taken due to WaveCrest's "non-compliance" with VISA's membership regulations... In its statement, Visa makes clear that this isn't a crackdown on cryptocurrencies, but rather action against one company that broke its rules.
"All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP," one of the affected debit card companies assured users on Twitter, adding "Sorry for all the inconvenience caused..."
According to the article, "Some users on Twitter are reportedly stranded abroad without funds."
"All funds stored on cards are safe and will be returned to your Cryptopay accounts ASAP," one of the affected debit card companies assured users on Twitter, adding "Sorry for all the inconvenience caused..."
According to the article, "Some users on Twitter are reportedly stranded abroad without funds."
Bullshit.
Who the hell travels exclusively backed by Bitcoin?
I've been into the bitcoin community since around 2010 so let me just be the first to say, yes, this is a crackdown on crypto and other alternative payment systems that are superior to Visa in every way. That's the same reason paypal business debit cards are magically getting declined on Coinbase.
Some users on Twitter are reportedly stranded abroad without funds."
If only there was some form of exchangeable item these people could use. Something accepted everywhere which could easily be carried on their person to pay for goods and services.
If only such an item existed. That would solve their problem of having no "funds".
Instead of becoming a tulip farm and fee machine, people might have had sympathy, but no, it's just putting the lid on the bubble.
It's unreal how much anti crypto talk there is here. This used to be a site for nerds and now it's just frigging negative crabby assholes. Bitpay in the USA was not hurt by this it was the VISA partner in Europe that wasn't following rules. If it were a crack down on blockchain it'd be everywhere and every partner of VISA dealing with it.
Because they thought backpacking with only a sketchy non transaction oriented currency was a good idea.
Shows that crypto currencies aren't just being used by bright people.
"Not to mention all the idiots who use words like boxen."
Anonymous Coward on Monday August 04, @06:49PM
First there is denial, then push back, then finally acceptance.
There are people stranded ABROAD without access to their cryptomonies. It's a shame that they don't have any real money that they can use to pay for things.
That's so 2017.
This used to be a site for nerds and now it's just frigging negative crabby assholes
It's still a site for nerds.
However it's also a site for people who like to get flogged by nerds. Some kind of sad-masochistic thing, I think... anyway those people come on, knowing their stupid ideas will get pounded by someone with a low-count UID and I think they look forward to it.
Just ignore them and read the nerd posts if they bother you. Would be nice if we could sandbox them a bit though.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
something nobody else knows, how?
Cryptocurrency, and also smart contract technology, once both are evolved into something easier to use for end users, is going to take over a substantial chunk of world economic functioning.
Yes there's a hype bubble, but just like with AI, there is extremely disruptive and important substance too.
Don't let the presence of hype distract your from the fundamentals of the transformation that will take place.
Did you misplace your bitcoin?
Where are we going and why are we in a handbasket?
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