hey megacoiners,
we should work to create/develop both the software and the hardware for a debit card (or thumb drive) MΣC transaction authorizer machine to be used for retail stores everywhere.
a machine specifically designed to run a specific operating system (to which access is cryptographically protected from being hacked) tailored to the megacoin network and the secure access of portable password-protected wallets. this machine will have a keyboard interface and a built-in card/drive reader, and have an internet connection limited to ONLY connecting to the MΣC network.
the retailer owns and controls the machine, and customers bring their wallet debit card/drive to make a payment to the retailer.
the retailer inputs the charge amount (MΣC).
the customer connects/swipes his wallet debit card/drive, granting the machine access to his wallet.
the machine then automatically opens the customer's wallet, sets up a megacoin transaction of the charge amount from that wallet to the retailer's wallet, and displays a conformation screen for the customer to accept.
the customer visually verifies the charge amount.
the customer is prompted to type in his wallet password.
the machine verifies that the transaction was successful. (afterward, the machine DOES NOT store the customer's wallet information or password.)
it's important that this be a specific machine that will ONLY access wallet files, and is impossible to tamper or hack. the software must be trustworthy open-source, and would self-destruct if it's ever altered. and any fraudulent fake machine would need to be denied access to the network.
how can we make this happen?
Most retailers wont play the crypto game unless they can immediately exchange the crypto for fiat. before hardware there must be a USD-MEC exchange.
yea you might be right, and I agree it's a great idea to work on getting a fiat-MΣC exchange going. but actually, as more retailers everywhere start all getting paid in megacoin, eventually they all could then go spend their MΣC to buy things from other retailers the same way using just MΣC, and the result will be the emergence of a subversive new economy where fiat isn't even necessary.
its a terrible idea to have a system with direct access to peoples wallets. it would be better to have to put the coins in the exchange which would then be able to make payments on your behalf. This way you only stand to loose whatever coins you put in the exchange if or when it gets hacked.
that's a good point, but I can see it both ways. if the debit card/drive I carry around with me contains my MΣC "spending wallet" then I can just fill it with however much I feel is safe to carry with me. I could keep my "savings wallet" in a safe place, and transfer from one wallet to the other whenever I need more coins.
but yea, linking the machine directly to an online exchange could also be a great idea.
No system is 100% secure when its on the internet. Its just the way life is.
well hopefully there's a way to make secure MΣC retail transactions feasible. can we do it?
