

A Reloadable Visa Debit For Your Bitcoins - gbachik
http://coincashcard.com
You can now purchase anything using bitcoins!
======
rchowe
From just looking at their website, it seems that they're going to run afoul
of banking/money services regulations in nearly every country, if it is not
shut down by VISA first.

1\. I don't know much about countries other than the US, but in the US you
have to be at least 16 with an adult as the joint owner of the card to get a
debit card.

2\. (Correct me if I'm wrong) I haven't seen a case where you can get a debit
card without an ID. No withdrawal limits, no ID verification, and moving it
through bitcoin seems like a very easy way to launder money.

~~~
MatthewWilkes
VISA gift cards?

~~~
dcc1
Those have all sorts of limits, basically anything above a few hundred euro a
year and you are running afoul of EU AML laws, look at paypal for example to
see what the limits are before you have to verify paypal accounts, its roughly
the same for reloadable cards.

------
alkimie2
I actually wrote to them to say:

"It is a really neat idea, but....

1\. 15% is usurious. I know you have approximately a 2.2-2.8% cost built in
through Visa, and I don't mind paying a percent or so extra, but 15%?

2\. You provide no contact information of any meaning or any sense of who you
are or where you are. You are handling money and ought to be willing to
provide complete details of your company. This would allow your customers to
do a basic due diligence."

------
dcc1
The site just screams "SCAAAAAAAAAAAAAAAAAM"

EDIT: contact just goes to email form to coincashcard@gmail.com

~~~
gbachik
The site was launched prematurely and has since been fixed!

------
lvh
I really want this to be true, but man, does this website look shady: typos
everywhere, questionable copy, and the default Yeoman favicon, FAQ doesn't
mention who's issuing...

~~~
gbachik
Sorry about the premature launch the website has since been fixed

------
ddmnyc
Just an FYI to readers of this thread. Yes, the nature of bitcoin seems to
tilt toward dismissing startup ideas like this as a scam, but I personally
contacted the founder of the site, and I can say with confidence that this is
a legitimate, although very early-stage service. I have funded my account, and
verified through CoinCashCard's payment processor that the money is indeed on
the card.

Proof: [http://i.imgur.com/2D3wn8L.png](http://i.imgur.com/2D3wn8L.png)

------
mpnordland
While such a thing definitely appeals to me due to it's simplicity, my too-
good-to-be-true detector immediately kicked in when I read that 1) it was a
Visa card, 2) there were no age restrictions and 3) no address request. Those
points were the most salient, but there was just an underlying current of
suspiciousness. Normally, something that sounds this cool has a website full
of caveats.

------
trevorcreech
Pretty sure this guy[0] is just gathering emails. I've been working on a
credit card/Bitcoin project for 8 months now, and it is _insanely_ hard to get
merchant accounts to work with you as a Bitcoin company.

[0] Domain registered by
[http://www.gagebachik.com/](http://www.gagebachik.com/)

------
seanbarry
15%? This is insane. How is this not in breach of almost every financial
regulation since the big bang?

------
CoastUser
So many typos on their website...

~~~
gbachik
all of which should be fixed :]

------
lostmsu
No HTTPS. Go and die.

~~~
gbachik
There is now https sorry

~~~
ddmnyc
I can actually still access the site without https.

~~~
ddmnyc
Problem looks to be solved. Thanks for fixing.

