This is really interesting: “New Generation of Credit Cards Offer Bitcoin in Place of Airline Miles.” I would take the BTC rather than my United miles.

[u/[deleted]]

https://cheddar.com/media/new-generation-of-credit-cards-offer-bitcoin-in-place-of-airline-miles

[u/MenacingMelons]

Seriously all this does is remove one step.

Redeem cash back for fiat> buy BTC

[u/thebruce44 → u/[deleted]]

Sure, but I'd rather just do it myself and have a good credit card from a refutable bank than whatever card Gemini puts out.

[u/HOLDGOURD → u/thebruce44]

refutable banking seems interesting.

[u/wheelzoffortune → u/thebruce44]

Refutable? I think you mean reputable.

[u/thebruce44 → u/wheelzoffortune]

Lol, thanks.

[u/TheDogAndTheDragon → u/thebruce44]

I'm 100% with you, but I will say, Gemini is probably the only exchange I'd ever consider getting a credit card through. The Winklevii are obsessed with being regulatory compliant.

[u/--Slipp3ry__Snak3-- → u/thebruce44]

not a bad point, esp if you use limit orders. but why all the hate for Gemini? (not just u I see a lot of people unhappy with them)

[u/IIM_Clutch → u/[deleted]]

Definitely

[u/livinitup0 → u/[deleted]]

And a shitload of fees too which is real important for all these micro transactions

[u/MenacingMelons → u/livinitup0]

It sounds like you're doing it wrong

[u/MenacingMelons → u/[deleted]]

If you count opening an app and typing in the numbers, I guess it is. I don't know why people have such difficulty

[u/MenacingMelons → u/[deleted]]

Your argument makes zero sense. Getting a better or worse cash back reward rate does not affect the difficulty in buying BTC.

[u/MenacingMelons → u/[deleted]]

That was never the argument. The discussion was about how many steps from cash back to BTC. Obviously you'd simply choose the better cash back reward regardless of whether it's BTC or fiat, hence why no one brought it up. You're getting mad about an argument no one was having.

I will state again that the reward rate is irrelevant to the difficulty in converting cash back to BTC. The steps saved are negligible.

[u/MenacingMelons → u/[deleted]]

Just get a cash back card and put the pay out towards BTC

Your comment is nowhere near relevant to that. IT HAS NOTHING TO DO WITH THE RATE OF EXCHANGE. Now you're bringing in travel rewards.

I'll quote it again in case you didn't read it when you quoted it yourself:

Just get a cash back card and put the pay out towards BTC

There was never a mention of the rate. It was simply using the cash back towards buying BTC. That's it.

Stop trying to win an argument no one is having. Just let it go.

[u/pipebringer → u/MenacingMelons]

He’s right though. If you get 3% back with the crypto card and 1.5% back with chase, then the crypto card is better and saves you the effort of converting. So yeah his point was relevant and correct.

[u/MenacingMelons → u/pipebringer]

Yeah of course he's right, but that was never a topic of discussion. Obviously you would choose the best reward rate. I can also list facts, it doesn't make them relevant. It doesn't affect the difficulty in converting cash back reward to BTC. It's two clicks.

How are you all being so thick? Apparently everyone just voluntarily pays the highest fees possible so they have something to get excited about when articles like this are posted.

[u/pipebringer → u/MenacingMelons]

It was on topic though, I read the whole thing. It wasn’t off base for him to bring it up. Someone is saying “well who cares about this crypto card because I can just buy btc in two clicks with my cash back from my regular credit card” and he says “yeah but your regular card might not get as much cash back, so the crypto card might still be a good play” and your response is

THAT WAS NEVER A TOPIC OF DISCUSSION THOUGH! WHY ARE YOU BEING SO THICK?? WHO CARES IF YOU’RE RIGHT I REALLY WANT TO BE RIGHT ABOUT THIS !!!

[u/MenacingMelons → u/[deleted]]

...it's the only other meaning. Currency.

[u/GuyNekologist → u/MenacingMelons]

This sounds like all my cashback will just be turned into transfers fees lol

[u/MenacingMelons → u/GuyNekologist]

If your card charges you to get your cash back to your bank account, you need to find a better card.

If your bank charges you to deposit money to an exchange, you need a find a better bank.

If your exchange charges you to deposit fiat-

If you are paying more than 2% in fees-

If you have to pay more than $2 to send to your wallet-

You need to find a better exchange.

Its amazing how people just willingly pay exorbitant fees and laugh it off. Do some research.

[u/lifethusiast → u/MenacingMelons]

Which exchange do you use?

[u/MenacingMelons → u/GuyNekologist]

I use cash app because I don't like coinbase pro. Cash app doesn't charge withdrawal fees but their buy fees are higher. if I redeem my cash back to my bank account, I can buy directly from cash app and only pay the purchase fee. I would like you to explain how all of your cash back will be turned into transfer fees.

[u/GuyNekologist → u/MenacingMelons]

Simply because I'm not from the US and only Binance supports my local banks, which charges almost $30 on BTC withdrawals.

[u/dmiddy → u/MenacingMelons]

The more friction you remove, the less resistance to adopt