Should we be shilling a crypto card product when we can't promote our own Season Cards?

[ŽižkovClaret]

Tread carefully with this Uphold shenanigans, people

[daveisaclaret]

You'll probably get lots of angry people telling you the two have nothing to do with each other (as if it matters) but the answer in short is no.

I sincerely hope nobody is getting involved in this or any of the other crypto stuff the club pushes.

Wherever you stand on crypto or anything related to it, the bare minimum you owe yourself is to do a serious amount of research before getting involved. Trusting a football club who are hoping to make money off your involvement is a sure-fire route to trouble.

[Foshiznik]

What is the issue with it? I have no idea about anything crypto other than the basics.

[wilks_bfc]

What crypto product are we promoting?

Do you mean the Uphold card?
I thought this was more like the Monzo/Starling cards that you preload to use on holiday

[ŽižkovClaret]

What is the issue with it? I have no idea about anything crypto other than the basics.

That, imo, is the very root of the problem. Our typical supporter will be of a similar level of understanding, i suspect.

[ŽižkovClaret]

What crypto product are we promoting?

Do you mean the Uphold card?
I thought this was more like the Monzo/Starling cards that you preload to use on holiday

On the face of it, that is what it looks like, and it feels very much deliberate on their part. The reality, however seems to be that much, if not all of the "currency" options with which to hold your balance, seem to be heavily weighted to crypto of varying stability.

[MarkGreen]

What crypto product are we promoting?

Do you mean the Uphold card?
I thought this was more like the Monzo/Starling cards that you preload to use on holiday

Certainly not like a monzo/Starling account.

The first banner on the uphold website reads "Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more"

[ŽižkovClaret]

Certainly not like a monzo/Starling account.

The first banner on the uphold website reads "Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more"

Such a banner, incidentally, feels very much of the "You must make this clear to your customers because this could well be a binfire" variety

[wilks_bfc]

Cheers both

As I said I thought that’s what it was and as I already use and perfectly satisfied with Staring hadn’t even clicked the link as no interest

[daveisaclaret]

I do think it's both concerning and by design that it's being marketed at people who don't understand what it is, too. Not sure on the morals of that.

[ŽižkovClaret]

I do think it's both concerning and by design that it's being marketed at people who don't understand what it is, too. Not sure on the morals of that.

I bloody am

[Jimmymaccer]

Such a banner, incidentally, feels very much of the "You must make this clear to your customers because this could well be a binfire" variety

To me there are certain types of “associated products” a business should/could sell which ultimately reflects their customer base. You wouldn’t expect a kitchen company for example trying to flog you a pension.

It unnerves me at times when I see things like footy clubs selling for example credit cards (usually at the higher end of interest rates) which people will be unduly influenced to take given the blind loyalty supporters tend to have with their clubs.

Not saying it’s totally wrong and clubs have “business partners” for all the right commercial reasons but there’s territory into which they can stray which leaves me a bit uncomfortable.

[ŽižkovClaret]

To me there are certain types of “associated products” a business should/could sell which ultimately reflects their customer base. You wouldn’t expect a kitchen company for example trying to flog you a pension.

It unnerves me at times when I see things like footy clubs selling for example credit cards (usually at the higher end of interest rates) which people will be unduly influenced to take given the blind loyalty supporters tend to have with their clubs.

Not saying it’s totally wrong and clubs have “business partners” for all the right commercial reasons but there’s territory into which they can stray which leaves me a bit uncomfortable.

Yes, MBNA credit cards' entire business model is affiliate marketing, which is why you'll often see them as the company behind the "Manchester United Credit Card" and the like.

Credit cards, however dubious they can be, are pretty well known as a mechanism, and the risks therein.

This is something quite different and its the apparent attempt to present it as a "foreign currency" card that sticks in the craw for me

[ŽižkovClaret]

I sadly foresee a headline in the Burnley Express of something like "Brenda lost her holiday money in BFC card scheme"

Do we really need to squeeze every $ out of our fanbase?

[ŽižkovClaret]

I mean, the implied suggestion from the promo shot that someone might trust these people with nigh on 30 grand...... jeez

[Jimmymaccer]

Yes, MBNA credit cards' entire business model is affiliate marketing, which is why you'll often see them as the company behind the "Manchester United Credit Card" and the like.

Credit cards, however dubious they can be, are pretty well known as a mechanism, and the risks therein.

This is something quite different and its the apparent attempt to present it as a "foreign currency" card that sticks in the craw for me

Yep, don’t disagree ……….

[Quickenthetempo]

I've just invested 30k because Burnley in the community get a fiver.

[Foshiznik]

Anyone able to tell me what is wrong with the product? You add funds to the card that they then invest in crypto and give a kickback to the club?

Or is it a scam?

I have no actual interest myself but I know some will even if just to have a Burnley branded card.

[ŽižkovClaret]

Anyone able to tell me what is wrong with the product? You add funds to the card that they then invest in crypto and give a kickback to the club?

Or is it a scam?

I have no actual interest myself but I know some will even if just to have a Burnley branded card.

It just feels, at best, unclear to the average punter that it isn't just a foreign currency card.

[aggi]

Compared to what many other clubs have done I find it hard to get excited or worked up about this. It's nothing like those clubs with NFCs or tokens to participate in fan engagement. Out of all the bad choices we may have made this one seems OK.

Uphold is a an exchange, that also has what are effectively pre-paid cards. Revolut is similar although its crypto offering is much smaller.

The idea that someone is going to lose their life savings because the club is promoting this is pretty far fetched. You've got to sign up, provide ID, go through multiple warnings and questions on the risks associated, wait for the cooldown period to end, dump in your life savings, etc.

You can quite easily put money in, switch it between currencies and spend it without touching the crypto side.

[Leisure]

Compared to what many other clubs have done I find it hard to get excited or worked up about this. It's nothing like those clubs with NFCs or tokens to participate in fan engagement. Out of all the bad choices we may have made this one seems OK.

Uphold is a an exchange, that also has what are effectively pre-paid cards. Revolut is similar although its crypto offering is much smaller.

The idea that someone is going to lose their life savings because the club is promoting this is pretty far fetched. You've got to sign up, provide ID, go through multiple warnings and questions on the risks associated, wait for the cooldown period to end, dump in your life savings, etc.

You can quite easily put money in, switch it between currencies and spend it without touching the crypto side.

But could you also lose some/all of your money?

[ŽižkovClaret]

Compared to what many other clubs have done I find it hard to get excited or worked up about this. It's nothing like those clubs with NFCs or tokens to participate in fan engagement. Out of all the bad choices we may have made this one seems OK.

Uphold is a an exchange, that also has what are effectively pre-paid cards. Revolut is similar although its crypto offering is much smaller.

The idea that someone is going to lose their life savings because the club is promoting this is pretty far fetched. You've got to sign up, provide ID, go through multiple warnings and questions on the risks associated, wait for the cooldown period to end, dump in your life savings, etc.

You can quite easily put money in, switch it between currencies and spend it without touching the crypto side.

I'm not sure comparing it against Club NFT's and the like is much of a benchmark.

I also feel like it just isn't a very responsible product to be shilling to fans. That's just my take, obviously, but there we are.

[South West Claret.]

Tread carefully with this Uphold shenanigans, people

The general rule about these sort of risk taking/gambling exercises is simply if you don’t fully understand what your doing then stay well clear!

[ŽižkovClaret]

The general rule about these sort of risk taking/gambling exercises is simply if you don’t fully understand what your doing then stay well clear!

Indeed, however there will be a tranche of our fanbase of the mind that "Well, they wouldn't be promoting it if it was risky". sadly.

[South West Claret.]

Indeed, however there will be a tranche of our fanbase of the mind that "Well, they wouldn't be promoting it if it was risky". sadly.

Yes indeed I for what it’s worth will be staying well clear.

[aggi]

But could you also lose some/all of your money?

You could (although the way things are going you could double your money). But you could also lose all of your money (a lot easier) with any of our myriad of gambling partners. You could lose all of your money with our official mattress partner (Emma for those who were wondering) if you really tried.

You'd actually need to try fairly hard to lose your money and ignore a lot of warnings.

[Nori1958]

The general rule about these sort of risk taking/gambling exercises is simply if you don’t fully understand what your doing then stay well clear!

Correct

[Nori1958]

No thicker than customers of PPI or packaged bank accounts, i'd argue

To sign up to something you don't understand is not the brightest thing to do.... PPI was not made clear at the time, for example

[Murger]

What is the issue with it? I have no idea about anything crypto other than the basics.

You know more than me then. I don’t have the foggiest what crypto is.

[AGENT_CLARET]

You know more than me then. I don’t have the foggiest what crypto is.

Superman hated it

[clansman]

It’s insane and wrong for the club to be pushing a “ dubious” product

[dougcollins]

How do you get to meet our official mattress partner Emma?

Asking for a friend.

[boyyanno]

How do you get to meet our official mattress partner Emma?

Asking for a friend.

It's very difficult- you've got to get her in to bed first.

[jdrobbo]

Wouldn’t touch it with a bargepole.

[ClaretTony]

Wouldn’t touch it with a bargepole.

I don’t have a bargepole but I wouldn’t touch it with yours

[aggi]

I still have my life savings

PXL_20240408_092509359.jpg (1.81 MiB) Viewed 318 times

[Bosscat]

Superman hated it

I thought Krypto was his dog


https://youtu.be/nnHiBOstuUM?feature=shared