Topic: Bitcoin Transfer through Cell Phones Possible ? - page 2. (Read 396 times)
things that are out of control if you haven't done it yourself, because this is vulnerable to fraud I think, as long as the exchange is still available and more effective I will not use this sms feature
Yes I think it's certainly possible but the point is that a third party would definitely be involved in such transactions.
For example, if I am the third party I would be providing a custodial wallet to the users and linking it to their mobile numbers.
When the user makes the SMS it would trigger a transaction from the wallet and broadcast it to the blockchain.
Thus, the users would just be making an SMS but in the backend an actual bitcoin transaction would be done on the blockchain.
For example, if I am the third party I would be providing a custodial wallet to the users and linking it to their mobile numbers.
When the user makes the SMS it would trigger a transaction from the wallet and broadcast it to the blockchain.
Thus, the users would just be making an SMS but in the backend an actual bitcoin transaction would be done on the blockchain.
Actually it's still need an internet in order to proceed the whole transaction into successfully recorded on blockchain. You're not using internet since you only sign the transaction and send it in the other form without internet. You're need someone to broadcast the transaction and it's using internet.
Correct me if I’m wrong but this kind of Bitcoin transaction is just like an IOU since it’s not recorded on blockchain. I’m not totally familiar on this kind of method but I preferred transaction being recorded on blockchain to be valid for my personal preference. I believe this kind of transaction are prone to fraud and scam because it can be easily use to persuade person that has no knowledge on this kind of transaction.
When you say prone to fraud, I really believe that could happen because right now in some countries in the world they don't link the phone numbers to its owner so anyone can fake their identity and claim whoever they want and they can just scam people with their innovative techniques which are really confusing to others. Though this kind of transaction is not totally worthless, it really requires some guides for the people who use it will prevent themselves from getting scammed. right now, I just prefer the usual transactions we are doing so far because for me it is the safest.
Despite any formation it still requires internet meaning those features are not really nice since is network required transaction, to my little understanding it is a digital currency and must work online. So you don't get it twisted wondering how that could be possible.
Thanks for the materials
Here's the past thread about this kind discussion:
1. SENDING BITCOIN WITHOUT THE INTERNET
2. Bitcoin without internet: SMS service allows sending BTC with a text
3. Offline cryptocurrency transfer?
4. south africa has launched a SMS service to send bitcoin without internet
1. SENDING BITCOIN WITHOUT THE INTERNET
2. Bitcoin without internet: SMS service allows sending BTC with a text
3. Offline cryptocurrency transfer?
4. south africa has launched a SMS service to send bitcoin without internet
Thanks for the materials
Correct me if I’m wrong but this kind of Bitcoin transaction is just like an IOU since it’s not recorded on blockchain. I’m not totally familiar on this kind of method but I preferred transaction being recorded on blockchain to be valid for my personal preference. I believe this kind of transaction are prone to fraud and scam because it can be easily use to persuade person that has no knowledge on this kind of transaction.
I don't want to take that kind of risk, and it's impossible to believe, I also agree with you, that I prefer transactions that are recorded by the blockchain, it's full of risk and I don't want to take that risk..
The other one that I know that doesn't require the internet is through radio signals or waves. I don't know much about it, but soon, we'll see those transactions happening without the internet.
But that image shows like just a message and the transaction did happen somewhere so, we don't know if that didn't really require the internet. It's just like a transaction message and has to be sent after doing it.
But that image shows like just a message and the transaction did happen somewhere so, we don't know if that didn't really require the internet. It's just like a transaction message and has to be sent after doing it.
This is something that is impossible to do, because sending Bitcoins without using the internet is something that is completely impossible. Bitcoin is a digital currency in the form of numbers, so when we want to transfer Bitcoin to someone else via cellphone, of course the cellphone that we use for the transfer will go to the internet network so that our shipment reaches that person.
As far as we know, bitcoin transactions must be supported by the internet, nowadays it seems impossible to do transactions without the internet as a transaction facility, but in today era I think many blockchain developers and companies are starting to look for solutions to overcome this, such as by Criptolago, a Venezuelan company that is now starting to develop a digital system that allows sending bitcoins only through a short message service or SMS.For now it looks impossible but I think in the next 1 or 2 years
it will be very possible to do.
This is something that is impossible to do, because sending Bitcoins without using the internet is something that is completely impossible. Bitcoin is a digital currency in the form of numbers, so when we want to transfer Bitcoin to someone else via cellphone, of course the cellphone that we use for the transfer will go to the internet network so that our shipment reaches that person.
It is good if you have no other choices.
It is bad if you have other choices but you still choose to use this one. You don't control the broadcast of your transaction and your coin. You have to rely on a company that run the SMS service. Don't trust them.
If people have no other choices (very barely they have no other choices), they have to accept the only solution they have. In that case, this one is good and acceptable but they have to know about risk of this. Knowing about risk means whenever they have other choices, they will stop using that one.
It is bad if you have other choices but you still choose to use this one. You don't control the broadcast of your transaction and your coin. You have to rely on a company that run the SMS service. Don't trust them.
If people have no other choices (very barely they have no other choices), they have to accept the only solution they have. In that case, this one is good and acceptable but they have to know about risk of this. Knowing about risk means whenever they have other choices, they will stop using that one.
I'd agree with this one, phones/texts are generally easy to attack afaik (especially without an Internet connection)
I think Sim port attack is the most worried case in this situation [BEWARE] Sim Port Attack , everyone should know there's nothing safe to think your Sim card and phone are very secure even though you didn't connect to internet, but as long as you're share the phone number and it has a financial related, anyone will try to attack your sim card.I wouldn't say it's an innovation or creativity, but it's more like letting your coins associated with third party.
I guess if they can't afford to pay electricity and internet cost, I don't think they have a plan to buy Bitcoin because usually they're lack of financial.
I have seen news of this making waves all over the internet, but I am a bit concerned as to how it is becoming easier for people's crypto to be swindled even without an internet connection.
I'd agree with this one, phones/texts are generally easy to attack afaik (especially without an Internet connection) and this might make an attacker try/succeed at targeting certain areas where this is used a lot to send funds to themselves (it might not be much they'd get away with but it could add up to quite a bit of they attack several people/a large town).
Correct me if I’m wrong but this kind of Bitcoin transaction is just like an IOU since it’s not recorded on blockchain. I’m not totally familiar on this kind of method but I preferred transaction being recorded on blockchain to be valid
It's probably a way crypto might be able to compete with banks though in some areas. You are handing over the custody of your crypto to a third party too which I think would be quite a drawback (you're still relying on their security as well as your phone's and your network's).
I have seen news of this making waves all over the internet, but I am a bit concerned as to how it is becoming easier for people's crypto to be swindled even without an internet connection. It calls for a need for people in Africa where this is already working to be wise and be extra careful especially now. As it is new, scammers and people with dubious motives will also be looking to take advantage of it.
I read a news similar to this some weeks ago on Cointelegraph:
Bitcoin without internet: SMS service allows sending BTC with a text
But no matter what these would be, there would be a third party involved that will help the users to connect to the internet, the bitcoin blockchain is online and needs internet access.
Bitcoin without internet: SMS service allows sending BTC with a text
Quote
An innovation using the cellular network (GSM) could onboard millions of Bitcoin (BTC) users previously unreachable by the internet-dependent Bitcoin protocol. Built by South African developer Kgothatso Ngako, the new SMS-based service is named Machankura, a slang South African word for money.
But no matter what these would be, there would be a third party involved that will help the users to connect to the internet, the bitcoin blockchain is online and needs internet access.
Correct me if I’m wrong but this kind of Bitcoin transaction is just like an IOU since it’s not recorded on blockchain. I’m not totally familiar on this kind of method but I preferred transaction being recorded on blockchain to be valid for my personal preference. I believe this kind of transaction are prone to fraud and scam because it can be easily use to persuade person that has no knowledge on this kind of transaction.
Here's the past thread about this kind discussion:
1. SENDING BITCOIN WITHOUT THE INTERNET
2. Bitcoin without internet: SMS service allows sending BTC with a text
3. Offline cryptocurrency transfer?
4. south africa has launched a SMS service to send bitcoin without internet
Actually it's still need an internet in order to proceed the whole transaction into successfully recorded on blockchain. You're not using internet since you only sign the transaction and send it in the other form without internet. You're need someone to broadcast the transaction and it's using internet.
1. SENDING BITCOIN WITHOUT THE INTERNET
2. Bitcoin without internet: SMS service allows sending BTC with a text
3. Offline cryptocurrency transfer?
4. south africa has launched a SMS service to send bitcoin without internet
Actually it's still need an internet in order to proceed the whole transaction into successfully recorded on blockchain. You're not using internet since you only sign the transaction and send it in the other form without internet. You're need someone to broadcast the transaction and it's using internet.
African's are sending #bitcoin peer to peer WITHOUT internet using feature phones 🙌
You can't stop adoption ✊ https://t.co/26REYusCJu
https://twitter.com/BitcoinMagazine/status/1560976662656860173?t=awVePztglx6p0RULBras7g&s=19
Question: I think I must have seen this somewhere but not sure if I had a good look, ( Can't recall ) How can this be ?? Like how can one carry out such transactions. ?? Guide Any ?!
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