Bitcoin Debit Card! - page 2. | Bitcointalksearch.org

strideynet

sr. member

Activity: 412

Merit: 250

Thanks for support Grin

But although I have the idea I'm not a excelling programmer or a money bank as the sdk can be expensive!
You wouldn't upload you address to the card. The card would give you a address and yes it would be a soc.
So I'm interested if anyway has any ideas to add. When I'm nota newb I can move forward with plans!

droledabin

newbie

Activity: 14

Merit: 0

The card contains a system on a chip. A terminal would not have access to files on the chip. The terminal can comunicate with the system on a chip and provide electrical power to the system on a chip. The terminal would NOT have access to the wallet.dat. The SoC on the card would sign the transaction by itself. The terminal would only be used to provide access to the blockchain for the SoC and for the customer to see the transaction ammount and type in the pin. It would only act as an gateway, it would only "see" the already signed transaction passing through.

The main issues with such cards would be that the producer of the SoC would need the wallet.dat during manufacturing (like they also need the private security tokens when they produce regular chip protected electronic cash cards for regular banking accounts). So you would need to find a trustworthy producer.
Second issue would be that Bitcoin transactions need confirmations, it would just take to long to wait for 3 or 6 confirmations when you just want to pay for something in a supermarket.

Puppet

legendary

Activity: 980

Merit: 1040

You can pin protect it all you want, just how do you expect to sign the transaction without private key? Either the card must run a bitcoind (good luck with that) to sign the transaction or you need to give the terminal the private keys.

The only thing I can see that you could do to limit the risk is prepare the wallet so it has lots of small addresses of all, say, 0.1 BTC of which it could hand the private keys to the terminal as needed. But if you ever use addresses again, you could be screwed and it would probably be difficult for the card to keep track of whats already spent and what isnt.

paraipan

legendary

Activity: 924

Merit: 1004

Firstbits: 1pirata

Quote from: Puppet on August 26, 2012, 06:23:57 AM

Quote from: droledabin on August 26, 2012, 06:15:28 AM

That's bullshit. The terminal wouldn't have access to files on the card. It would interact with the card just like any other terminal for any other electronic cash/debit card.

Exactly how could the terminal make a payment without having access to the wallet file? Its not like you can run bitcoind on a smartcard. Its all or nothing.

^sockie detected, this was easy, look at the name Shocked

, and first thread to comment is this one

+1 what droledabin said, the terminal will interact with the card which would protect the secret keys by hardware means

@strideynet go on with the project, we'll be waiting forward for results. Bitcoiners need your product yesterday dude Grin

Puppet

legendary

Activity: 980

Merit: 1040

Quote from: droledabin on August 26, 2012, 06:15:28 AM

That's bullshit. The terminal wouldn't have access to files on the card. It would interact with the card just like any other terminal for any other electronic cash/debit card.

Exactly how could the terminal make a payment without having access to the wallet file? Its not like you can run bitcoind on a smartcard. Its all or nothing.

droledabin

newbie

Activity: 14

Merit: 0

Quote from: Puppet on August 26, 2012, 04:14:44 AM

So you want to give a third party terminal fulll access to your wallet in order to make a payment? I dont think so.

That's bullshit. The terminal wouldn't have access to files on the card. It would interact with the card just like any other terminal for any other electronic cash/debit card. You will need to provide a pin number to confirm the transaction. Also, it's up to you how much btc you will load the card with.

Quote from: Russell616 on August 26, 2012, 04:17:48 AM

Bitinstant is already developing a Bitcoin debit card.

And your point is.....? Competition is bad or what do you want to say...?

strideynet: I like your idea. If you have the ability to develop it, please do so!

Russell616

newbie

Activity: 15

Merit: 0

Bitinstant is already developing a Bitcoin debit card.

http://money.cnn.com/2012/08/22/technology/startups/bitcoin-debit-card/index.html

Puppet

legendary

Activity: 980

Merit: 1040

So you want to give a third party terminal fulll access to your wallet in order to make a payment? I dont think so.

strideynet

sr. member

Activity: 412

Merit: 250

Just wanna see if any newies like the idea before I'm allowed topmost in non newbie sections. Come on gimme feedback!

strideynet

sr. member

Activity: 412

Merit: 250

Just as a survey to see if people like the idea. The card would hold the wallet.dat file on its memory and also it would hold a pin to decrypt the wallet. The card reader would have a record of all the blocks etc.
It would make bitcoins more feasible as a payment solution. We would use java chip cards so they can be programmed. Bt I'm not use wether 80k is enough for memory. Or wether we need more!
http://www.smartcardsource.com/contents/en-ca/p3_J2A080.html

It would mean bitcoins could be used in the real world! Not just inside the interwebs!

Topic: Bitcoin Debit Card! - page 2. (Read 2073 times)