Topic: bitcoins in physical stores (Read 1950 times)
Bitcoin can not put an end to normal bank it is not possible because there are other functions of banks which bitcoin cannot do. Like issuing loans to their client and also selling government bills to raise funds for the government. Bitcoin has only broadened and offering an alternative to money but conveniently and digitally.
There are many ways bitcoin could be used in physical stores.
Some guys here are planning on creating printed bitcoins, using QR code or stuffs like that.
An other possibility would be to do everything wia wifi, for instance using smartphones running a full bitcoin client, or using a web interface such as mybitcoin.com.
I personnaly think the best would be if each store could act as a bitcoin bank. Basically you would have a bitcoin account in the shop, and you'll use with conventionnal banking-like transaction for every day purchases. You would only transfer bitcoin something like say one in a month, just to fill up your account. Such accounts could also use David Chaum's digital cash, so that stores could act like private money issuers.
I don't think bitcoin will put a end to banking system. On the contrary, it will democratize it.
I am just wondering if what will they do about it when the price of Bitcoin suddenly drops and that price they got from the customers was at high?
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There are many ways bitcoin could be used in physical stores.
Some guys here are planning on creating printed bitcoins, using QR code or stuffs like that.
An other possibility would be to do everything wia wifi, for instance using smartphones running a full bitcoin client, or using a web interface such as mybitcoin.com.
I personnaly think the best would be if each store could act as a bitcoin bank. Basically you would have a bitcoin account in the shop, and you'll use with conventionnal banking-like transaction for every day purchases. You would only transfer bitcoin something like say one in a month, just to fill up your account. Such accounts could also use David Chaum's digital cash, so that stores could act like private money issuers.
I don't think bitcoin will put a end to banking system. On the contrary, it will democratize it.
well, it seems like a very good idea for the development of bitcoin, but how much that might be very difficult to implement, for example in my country, where there is a law that regulates legal payments in the country's own currency. I really hope Bitcoin can be used as it should. 
I personnaly think the best would be if each store could act as a bitcoin bank. Basically you would have a bitcoin account in the shop, and you'll use with conventionnal banking-like transaction for every day purchases. You would only transfer bitcoin something like say one in a month, just to fill up your account. Such accounts could also use David Chaum's digital cash, so that stores could act like private money issuers.
Most stores offer some sort of gift certificate, gift card or store credit. You just need to convince the store to accept bitcoins for store credit.
I like the idea of having a bitcoin card. It would interface with an online bitcoin account and one would use it as a gift card. One could deposit or withdraw bitcoins from the account wherever he had internet access. The cards would bare a bar code, QR code, and/or magnetic strip that would have the necessary info for the merchant to withdraw funds. One would have to treat the card like cash, but if it ever got compromised, the user would have a chance to withdraw his funds before anyone else. The account would keep a record of transactions so one could catch malicious merchants trying to conduct unauthorized withdrawals. One could also link the card to his smartphone's location thereby preventing the card's use if it became separated from the smartphone.
Just ideas.
Just ideas.
I am already calling mtgox and mybitcoin banks.
There are many ways bitcoin could be used in physical stores.
Some guys here are planning on creating printed bitcoins, using QR code or stuffs like that.
An other possibility would be to do everything wia wifi, for instance using smartphones running a full bitcoin client, or using a web interface such as mybitcoin.com.
I personnaly think the best would be if each store could act as a bitcoin bank. Basically you would have a bitcoin account in the shop, and you'll use with conventionnal banking-like transaction for every day purchases. You would only transfer bitcoin something like say one in a month, just to fill up your account. Such accounts could also use David Chaum's digital cash, so that stores could act like private money issuers.
I don't think bitcoin will put a end to banking system. On the contrary, it will democratize it.
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