Introducing the Shift Card: Use Bitcoin where Visa is accepted

Re:Introducing the Shift Card: Use Bitcoin where Visa is acc... by celticninja on Friday November 20, 2015 @10:51AM (#10601786)

Yes there is a savings guarantee in the US/UK/EU however if funds are stolen from your bank account you are as unlikely to get them returned as you are to get stolen bitcoin back. The difference is that the government is covering (with taxes) the loss incurred by the bank (if necessary) but that doesn't mean you are automatically covered by this insurance in the case of a theft.

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Re:Introducing the Shift Card: Use Bitcoin where Visa is acc... by schrodinger on Friday November 20, 2015 @01:07PM (#10602718)

I've had my credit card and debit card stolen several times. One time, the person who got it took out over a thousand dollars from an ATM in another country. I got it all back (from Chase) within 5 days every time, which would never happen with Bitcoin.

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Re:Introducing the Shift Card: Use Bitcoin where Visa is acc... by JupiterMoon on Friday November 20, 2015 @11:18AM (#10601970)

In terms of theft. It depends upon the manner of the theft. If one follows the banks required precautions then one is usually covered (in the UK at least). If one does not then one is not covered -- although I'd agree that banks are increasingly not covering people if they can avoid doing so.

I was more thinking of institutional theft (i.e. embezzlement). I'm almost certain my bank won't just vanish the money I have lent them through my savings account. Of course the same cannot be said of "Random Investment Company Name" who was recommended to me on a forum/down the pub. As yet (and I hope that this changes) non of the bitcoin service companies have risen above this level of trust (for me personally).

EDIT: Added fact that my assessment of trust is my personal subjective opinion and shouldn't be taken as a fact.

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