Bitcoin Visa debit cards are cancelled

Re:Bitcoin Visa debit cards are cancelled by jhwang5 on Friday January 05, 2018 @03:12PM (#16081260)

1) Think from their perspective. They have very little upside for integrating with cryptocurrency platforms. It adds nothing to the bottom line. If anything, it subtracts from their bottom line, due to the added compliance work required to prevent crypto money launderers.

2) Stop saying crypto is decentralized. The vast majority of cryptocurrencies are mined by a small minority, and most participants have zero say in the direction of each currency. Yes, you can have a "decentralized" architecture, but not "democratization". Crypto-space ended up with an oligarchy.

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Re:Bitcoin Visa debit cards are cancelled by trakout on Saturday January 06, 2018 @12:19AM (#16083981)

#2 is way off. By definition crypto is decentralized. Currencies that currently have the highest market caps (read: most popular) also tend to be open source -- anyone can contribute, and anyone can run a node and perform PoW/PoS contributions.

There are exceptions (XRP), but for the most part your comment reflects a misunderstanding of "crypto-space".

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Re:Bitcoin Visa debit cards are cancelled by thinkmassive on Saturday January 06, 2018 @12:26PM (#16086301)

Measuring decentralization is a significant issue in the crypto space. Here’s an interesting article from Earn.com (formerly 21.co) https://news.earn.com/quantifying-decentralization-e39db233c...

If anyone knows of similar articles or studies please share them.

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Re:Bitcoin Visa debit cards are cancelled by jhwang5 on Saturday January 06, 2018 @03:04PM (#16087140)

If you read my #2, I basically acknowledge that crypto is decentralized. What I argued is that decentralized does not mean what the vast majority of people thinks it means, which is that it makes financial system more democratic. Many including myself are taking exception to that misconception.

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