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links 🏴
@links
Alright degens let's try out this raindrop thing. At /bcard (https://getbcard.io/), we are thinking about permissionlessly releasing a $degen card - that is, a debit card that will give you cash back in $degen. We just don't know if it's a good fit. So for this raindrop, do any of the following: - ask a question about /bcard, and tell me if you'd use it - give me an insight on the degen community that would make it a good/bad fit for /bcard (and tell me if you'd use it) rain 10420 $degen
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dani
@smokingfrog.eth
I guess I don’t understand the benefits of using the card honestly— If I already get cash back off my current card and it’s higher than 1-2% if I’m already all in on crypto and my communities is there a higher incentive for early adopters?
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links 🏴
@links
If you're all-in on crypto and communities, would a vampire attack on tradFi convince you? https://banklesscard.mirror.xyz/FWjq5bByw0vQY6XYETNkp856vlRDx2n2u5MbNfcoaf4 The truth is - right now we CANNOT compete against the big banks for cash back, but we CAN compete in crypto values: transparency, bottom-up organization, and equitable distribution of profit. We're a build-in-public, not-for-profit foundation with an elected multisig that shares our interchange rates publicly: https://support.getbcard.io/informational-articles/how-bcard-makes-money Eventually we can offer the same types of cash, but tradFi will NEVER publish their rates or give you a seat at the table.
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dani
@smokingfrog.eth
I appreciate the thoughtful response, it’s definitely something to think about but at the same time, especially on the consumer adoption front, it’s difficult to say overall we get full transparency from crypto projects and therefore it would still strike me as extremely risky and again, as someone’s that all in on crypto, I would find it difficult to actually keep track of the value that 1-2% would be driving at, just personally speaking Usually I redirect my 3-5% cash back towards paying my balance, so I don’t have to convert assets onchain ➡️ offchain I still like the idea, but as someone else mentioned… if we’re being locked into one DAO… that’s a lot of skin in the game and a ding to your credit report just opening the card, personally would be a drawback for me as well… considering I wouldn’t know how much I plan to use the card
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links 🏴
@links
Thanks for the POV - would love to learn more. What are you worried about in terms of risk? BCard never custodies funds, they are held at a FDIC-insured bank, but something tells me this isn’t what you’re talking about. In terms of moving assets:we are fiat-load, fiat-spend, so not a lot of asset conversion. Only rewards are crypto tokens. Just FYI there is no credit check (it’s a debit card), and you can switch communities literally any time - I attached a pic of the community select screen. Super open to feedback! I respect your POV just looking to learn more
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