Proposal: Dash debit card

[VytautasK]

We put proposal for June, as we thought we will need more time to get votes. However, as now we have received more votes and quicker, we will aim to release the integration just after the payout (i.e. to start working on it earlier). Thanks all for the support.

 

[InTheWoods]

We put proposal for June, as we thought we will need more time to get votes. However, as now we have received more votes and quicker, we will aim to release the integration just after the payout (i.e. to start working on it earlier). Thanks all for the support.

I see you have ignored my previous post. Is the debit card a Dash or a fiat debit card? It seems to be a fiat debit card. How do we know you are who you say you are?

 

[akhavr]

Is the debit card a Dash or a fiat debit card? It seems to be a fiat debit card.

From the point of view of card processing, every piece of plastic is a fiat debit card. The difference is whether should a user perform the conversion directly or it happens on a market at the moment of payment

 

[InTheWoods]

From the point of view of card processing, every piece of plastic is a fiat debit card. The difference is whether should a user perform the conversion directly or it happens on a market at the moment of payment

Yes, technically that's correct. This is how I've phrased my question in an earlier post. From what has been stated the conversion is done manually which sucks. The card also has high fees and more importantly we don't know if this guy is who he says he is.

 

[Solarminer]

VytautasK, Looking at your website here: https://spectrocoin.com/en/
You already accept bitcoin with a 3% conversion fee. What is your fee when you accept Dash?

Are you just adding the Shifty Button on https://shapeshift.io/site/tools/shifty-button and passing through the fee?

 

[kot]

Personally, I do not find a good idea to fund this project from the Dash blockchain.

This looks like a typical commercial project and all the profit from the project goes to the private company. This is not an open-source company neither. Therefore, in my opinion, it should be funded from the internal company funds. As I understand, the assumption behind the DGBB is to fund and support Dash project development and not a private companies development.

Even if someone sees the argument above as not adequate, the proposal itself is really bad.
First of all, there is no information about the benefits for Dash (any project funded from the blockchain should bring benefits for Dash). I can see no timelines, no real Dash-related goals, no measures and no success criteria here. From the pure PM perspective, it is very poor proposal.

 

[Ryan Taylor]

This is a cross-post from DashWhale.

This proposal is requesting $6,500, over half of the excess unallocated budget, but contains very little information. SpectroCoin's website also contains little information on the company size. So, I have many questions I would like to see answered:
1) How many Bitcoin debit card users does SpectroCoin have? You have only said how many clients you have, but these may only be wallet users.
2) Would SpectroCoin actively promote Dash alongside Bitcoin? If so, how? (e.g., on the website home page, email campaign to existing customers, etc)
3) What countries would be supported (many won't issue to the U.S. because of regulations)? What currencies? USD/EUR/GBP just like the bitcoin card? Why isn't this information on the website for the Bitcoin card?
4) How long of a commitment will SpectroCoin make to the product?
5) What are your expansion plans to new currencies?
6) Will InstantX be supported for sending or receiving Dash? If it doesn't do anything to advance the use of our key differentiator in the market, I'm much less keen on this proposal.
7) Will you be operating masternodes with deposited funds? If so, will you be sharing the masternode rewards in the form of "interest" on deposits, or keeping it for yourself as an additional source of profits? Again, I would be more keen on this proposal if it included some "advantage" over users simply using bitcoin and advanced our agenda in some way using our technology differentiation.
8) What is your expected project timeline... when should we expect to see a product hit the market?
9) You have stated that the project will be completed by the time the proposal approves. Does this mean you would plan to develop the product before the proposal is approved? If you were planning to develop regardless of the outcome, what incentive do we have to provide the funding once the work is done?

One additional thing for the community to be aware of is that we are working with other wallet / debit card providers - including ones that plan to implement masternode rewards on deposits, support more currencies, and will issue cards for free to end-users. And we aren't paying them for product development. They will also be launching within the next month or two, so SpectroCoin wouldn't even be the first if it launched in June. I am willing to fund private enterprises like SpectroCoin, but they need to bring something to the table of value beyond the projects already in development with their competitors. So far, this five sentence proposal provides no compelling information for why it is worthwhile funding, and I'm surprised to see it receiving robust levels of support.

In short... more details please, and I'd very much like to see commitments made to highlighting our differentiated tech!

 

[BiteMyShinyMetalAss]

These debit, credit cards are absolutely useless. You have to transfer fiat to buy bitcoin/dash, then sell bitcoin/dash to upload a card, so you could use a card. Whats the point?

 

[AjM]

Point is they can make a nice profit, visa, master and so on...

 

[BiteMyShinyMetalAss]

So will spectrocoin will put DASH in masternodes to generate profit and will this cover the transaction fees or its just another prepaid card? Like so you introduce a shapeshift button for 6.5k$?

 

[VytautasK]

Sorry for late response. To sum it up. The card will facilitate instant conversion: you go to the shop, you pay with a card and hence your dash wallet is deducted for the payment, we are also launching this solution for Bitcoin soon and it will be a huge difference from all other providers. Next, yes we will operate masternode with instantX and we will spread benefits from masternode(s) with our clients by paying them interest on deposits in dash. We expect to be live in June-July with this feature. We are putting our own capital at risk after we collected enough Yes votes for the project as we expect to get the funding, to develop this solution properly it costs much more than 6.5k USD, hence this funding is only a subsidy. Thanks

 

[BiteMyShinyMetalAss]

What about fees? You guys have gigantic fees for bitcoin right now. Will you have these humongous fees for DASH as you currently have for bitcoin or will you allow exchange for the actual market price? I fought to try your services with bitcoin, but as of now it is a massive disappointment. Your app does not work (require authentication code which is not sent, and you have to use email for authentication - god damn it!), you dont show fees in a clear manner, because they are gigantic. Bitstamp sells bitcoin for 740$ while you for 720$, plus withdrawal fess, and 3% currency exchange fees. Like what a hell guys? I regret so much for voting yes in this proposal!

 

[jsp3cs15]

Hi @VytautasK,

How are we progressing with this project? Do we have any updates?

Your timelines stated above indicate a June-July timeframe. It is now September.
A website/business of your caliber I would of expected the courtesy of an update by now.
Also if you were running late I would of expected ample notice of your delays and the reasons why.
And who knows maybe someone from this community might of been able to help you.

Please don't take this as an attack/troll, just some healthy feedback.=)

 

[jsp3cs15]

+10 days and still not response

Have we reached out to this guy? I'm happy to help if required.

 

[tungfa]

Hi @VytautasK,

How are we progressing with this project? Do we have any updates?

Your timelines stated above indicate a June-July timeframe. It is now September.
A website/business of your caliber I would of expected the courtesy of an update by now.
Also if you were running late I would of expected ample notice of your delays and the reasons why.
And who knows maybe someone from this community might of been able to help you.

Please don't take this as an attack/troll, just some healthy feedback.=)

somebody posted this video on Reddit
+
as far as I know they will launch in early October + update webpage and such

 

[Danny_Somthin]

After seeing an interest from Dash community we decided to suggest integration of Dash to SpectroCoin wallet by so issuing Dash debit cards. Our proposal can be found at dashwhale, under name dash-debit-card

In addition to debit card which would be accepted everywhere where MasterCard or Visa is accepted, the project would also lead to integration of Dash to our exchange (clients will be able to exchange Dash to fiat, even buy it with debit or credit card) as well as integrate it to our payment processor, so merchant will be able to accept Dash and receive fiat as well as benefit from plug-ins for Drupal, opencart, PrestaShop WHCMS and other.

I hope you will support our proposal.

Hi Vytautas . We had you on The Crypto Show last year, great talk too. Have you guys added service to the US yet?

 

[joemoraca]

From what I can tell - the treasury paid 950 Dash and nothing was delivered. https://spectrocoin.com/en/ has no mention of Dash and the android app https://play.google.com/store/apps/details?id=lt.spectrofinance.spectrocoin.android.wallet has not been updated since March 2016 and @VytautasK has not been back to this forum since April 27 2016.... wish I had 950 Dash.

 

[TheBigCat]

These con artists need to be hit up for a refund of that "investment"

 

[fible1]

@joemoraca Haven't used it in a while but I can vouch for the fact you could spend dash to your Spectrocoin card a couple months ago. I moved on to another card because Spectro is particularly expensive but it was available; you could also trade fiat for Dash.

Pablo.

 

[joemoraca]

@joemoraca Haven't used it in a while but I can vouch for the fact you could spend dash to your Spectrocoin card a couple months ago. I moved on to another card because Spectro is particularly expensive but it was available; you could also trade fiat for Dash.

Pablo.

Thank you for that information. I would think they would have that on the website. Perhaps they had so little use it was not worth an update?

 

[fible1]

@joemoraca Not sure why. The features are definitely not very visible, even from within the site.

Hope that helps .

Pablo.

 

[VytautasK]

To update the status of DASH integration: as promissed we have introduced full support for DASH into our system even last year, which includes: DASH wallet, loading debit card with DASH, buying and selling DASH with all payment options we offer including credit and debit cards, bank wires, Skrill, Neteller to name a couple of them. The only thing yet missing is the auto exchange to debit card from DASH wallet, so there will be no need for loading a card beforehead. We have been working on this feature since last summer and for last couple of months we are doing extensive testing as there are a lot of security issues (with chargebacks, changes in exchange rate etc), therefore it is not yet publicaly available. However, it will be available soon, with some other killing features, not included in proposal, but which we are developing and will be releasing soon. The information that we support DASH can be seen in our exchange section, also internally the DASH wallet can be seen as it is seen for Bitcoin.

In addition, we have made a special offer of 75% discount for plastic debit cards for DASH community. To benefit from this offer use voucher code DASHJULY75 when ordering a SpectroCoin debit card at https://spectrocoin.com

 

[VytautasK]

The main update: the DASH debit cards are live for a month now as well as Bitcoin and Ethereum cards (NEM is coming on its way). You read a full article here: https://blog.spectrocoin.com/en/2017/10/new-spectrocoin-prepaid-bitcoin-debit-cards/

Also we have made a discount code of 75% for DASH community: DASHCARD, please use it when ordering a card.

Another update is, that we have introduced one more key functionality at SpectroCoin: the International Bank Account Number (IBAN) support. From now on, you can claim an International Bank Account Number at SpectroCoin and withdraw euro payments from your personal account i.e. the sender of the payment will be you (Your name and your surname), not SpectroCoin. That means you can directly pay your bills etc from SpectroCoin account without needing to transfer funds to your bank account. Also you can receive euro payments to your IBAN at SpectroCoin and use it as a proper payment account. More information here: https://blog.spectrocoin.com/en/2017/11/claim-an-international-bank-account-number-at-spectrocoin/

And ofcourse, we will not stop here are working to offer more links between DASH and traditional methods of payments.

 

[GrandMasterDash]

The thought of using skype to verify identity kills this for me.

 

[VytautasK]

The thought of using skype to verify identity kills this for me.

We are developing our own verification system, but the Rome was not build in a day.

 

[Balych]

For non-EU resident users, we accept only international passports.