Topic: +1 424-903-COIN Send bitcoin via sms, no internet or smartphone required! (Read 1705 times)

its a great idea, imagine how quickly it could spread through 3rd world countries, where everyone has a mobile, but very few have a bank or smartphone

BTC2SMS is doing this, or is that you??

I like this idea.

3d world application would be useful if you can get both your salary and pay for stuff at the market without owning a computer.

1) Salary is deposited onto account via employer.

2) Assuming a function where you can select how much you want to spend, pay for groceries etc. the sales person would get an sms confirming the transaction.

3) The vendor or day worker can double check now and then, that the bitcoins are ending up at his or her bitcoin address (requires computer or phone call / sms to  any trusted person with a computer)

Largest advantage, you could use old phones for this. very low bandwidth, extremely high compatibility.

Largest problem would be fluctuations in the exchange rate.

UK & US now available!

Well I would think of it more like a spending trigger for any normal bitcoin wallet, it's just an easy way to interact with the blockchain api without an account or internet. Eventually an import private key function will be added so you can generate your own addresses and just import and spend offline. Possibly an option to register your phone number to a public key that so that no private key information would be handled by the service, but they could receive bitcoin by sms with no fee to them.

So in reality it is not bitcoins but bitcoin IOUs on your service, right?

Yes at the moment that's the only option, but this project is still in development and balance control and other features will be implemented soon! My system allows the recipient to send their newly acquired bitcoin straight to a public key or another cellphone after 3 confirmations completely offline. Eventually there will be an import private key function so 100% offline usage is achieved. For now you need to get bitcoin onto the deposit address somehow, and that would likely involve a computer transaction, but once it's loaded you can send bitcoin anywhere with cell service. If you receive bitcoins by this method you have no need for internet or a smartphone which I think can help lower the barrier of entry into bitcoin.

So an example of a useful scenario would be if you wanted to buy/sell a local item on Kijiji, in the countryside, and neither party wants to disclose where they live. So they decide to meet up at a public location that may not have an internet connection, the buyer would come prepared with bitcoin loaded on thier deposit address, and when the buyer feels satisfied with the item they would send bitcoin to the sellers phone, the seller can move that bitcoin after 3 confirmations to another phone number or public address completely independent of a need for a smartphone or internet connection.

Multiple transactions can be received before they are sent somewhere, aslong as the datasize of the transaction does not excited the 0.0007 fee.

If there is ever an issue, the problem can be easily resolved by contacting our support email: [email protected]

Wait, so you can only send your full balance?

Thanks for checking it out! I hope to spread this to other countries, but I would like to know there would be some traffic before I commit to the number. If there's any interest out there please pipe up!

I think it could be very useful for local trades where a public meeting place like starbucks is not a suitable location, but it defiantly has the potential to be useful for all types of situations.

My dad eventually figured it out how to use it without me coaching him though it, I thought that was a pretty good sign!

Decentralizing a currency and then having products only available to a select few really defeats the purpose.

Getting Started:

Text anything to the following number:

• US/CA: +1 424-903-COIN    (2646)
• UK: +44 1494 37COIN    (2646)

You will receive a deposit address and a confirmation code (ex. "4bdf"). You need this confirmation code to authorize your send command.

Example Commands:

• Send 12223334444 (confirmation code)

This command will send your total balance to any north american 11-digit or 12-digit UK mobile number (UK must start with 44). In our example command, the recipient would be +1 222-333-4444. Even if your recipient does not have a bitcoin address, a new one will be assign to them, much like the bitcointip bot on reddit.

• Send 1DtRwaWxDH7yGby2LXueYjoTNygBCxnx6e (confirmation code)

This command will send your total balance to the user specified public key.

• B

This command will return your current balance, deposit address, and confirmation code.

Coming soon:

- Import private key command.

- Assign any public key to your phone number, receive bitcoin by sms for free.


Terms of Service:

Deposits are free, 0.0021 BTC minimum. There is a 0.0007 BTC fee on all transfers, mining fees are included in this fee. 1 confirmation is required for every transaction, your account balance will read 0 until that 1 confirmation minimum is met. THERE IS NO CHANGE ADDRESS, this is a one-time transfer mechanism. Once your transaction is successful, your number and account information is deleted from our database, you will be treated as a new user. Use this service at your own risk, all transfers are irreversible. Multiple transactions can be received before they are sent somewhere, aslong as the datasize of the transaction does not excited the 0.0007 fee. If there is ever an issue, the problem can be easily resolved by contacting our support email: [email protected]

Subreddit: http://www.reddit.com/r/btc2sms/