So I can walk into any store that accepts debit cards and pay with this, or does the merchant specifically need to accept HBD/HiveDebit?
The post mentions the virtual card, but doesn't say what payment network it uses or whether HBD is automatically converted to fiat when paying at a normal card terminal. That seems like a pretty important distinction if the goal is to make HBD usable as an actual payment method.
If the answer is the ladder then you have a serious crux to your solution.
No, we’re completely focused on Hive payments. As a matter of fact, HiveDebit is a tool designed to boost Hive adoption.
Bitcoin Lightning Cards work on a similar concept, and they’ve helped make Bitcoin payments way easier and more accessible, which ultimately drives adoption.
It’s actually possible for me to integrate Visa or Mastercard into HiveDebit, but that would require more funding, more development, and, most importantly, actual data and statistics to determine whether it would make sense for the Hive community.
At the end of the day, I don’t want to add features just for the sake of adding them. The whole point is to build something that actually brings value to Hive and makes HIVE/HBD more useful in everyday life.
So, what do you think would be a better move for HiveDebit? Integrating Visa/Mastercard and other payment methods across the Americas, or focusing on currency swaps and making it easier to move between Hive and other currencies?
Would love to hear your thoughts on this. Lmk what you think!
I'd say roughly 4–6 years from initial funding to meaningful profit.
Years 1–2: Build, test, certify, hire, manufacture, and run pilots.
Years 2–3: Begin serious deployment and merchant/user acquisition.
Years 3–4: Scale transaction volume toward operating break-even.
Years 4–6: Potentially generate meaningful profit and begin recovering the initial investment.
With 3 years after the fact to get returns and profits.
“when does this become a mature, profitable ecosystem?”, I'd say it will be about 7–10
Posted via HiveSuite
It uses hive Blockchain as a payment network, there are 3Speak videos on how to use Hive debit.
So then hive accounts is required and for this to be anywhere near usable, it requires wide user adoption, which hive is lacking in that department. Let me know when I can enter a supermarket and pay directly with this. Either way good luck with your project.
Well that's like saying you need an email account to recieve emails. It would be natural that the receiver needs a Hive account to receive Hive as hives are units in a Blockchain made off accounts.
Business need banks to receive bank cards payments as well.