You got me, I'm a shill for
@CharlieShrem...lol
Jokes aside, I would be more than happy to have a DASH credit card, but the numbers don't add up.
Let me sum up the facts:
- no payment fees
- no fx fees
- no markup on exchange rate
- your companies income relies only on the card issuance fee (the card costs you $ 5.80, ~ $ 9 onetime profit/card) and merchants fees (was 0.2 % in the beginning, your co-founder expected it to eventually grow to 1 %)
(source for these numbers - your co-founder:
https://www.reddit.com/r/ethereum/comments/4k69dk/proposal_daopay_connecting_daos_and_real_world/)
So please tell me how this should be profitable, when your seed money is consumed? Maybe I'm missing something.
I believe you when you say that your app is working at the moment and even that you will launch dash on it (so escrow makes no sense to me), however I don't think that you can operate on such low or no fees after your seed money is gone.
That is my concern regarding this proposal.
I see two possibilities here, once the seed money is gone:
- introduce fees (most likely) or
- shutdown and move on, customer funds on the card would most definitely also be lost then
Given the fact that you are marketing the card with no fees, even the first scenario would be a very dishonest move.
Therefore I think dash shouldn't get involved/invest in this proposal, as this would reflect badly on the whole community.
However, please prove me wrong and explain your business plan to us. I would highly appreciate that. Thanks!