Looks impressive. I'm sure a lot of people will find this useful.
But what about trust? Namely, who does the user have to trust?
I skimmed the website, and it wasn't clear to me what happens when an account is created. Is this an account with the Bridgewalker service? Or with Mt. Gox? Do you have access to the bitcoin transactions involved in using this app? What about the Mt. Gox accounts used?
Topic: Bridgewalker: euro-denominated wallet for the Bitcoin economy[Now part of Hive!] - page 3. (Read 5395 times)
March 23, 2013, 01:55:04 PM
March 23, 2013, 01:50:04 PM
great job!
Jan I don't have an android phone but can you test something for me.
1. on the phones web browser go here and click on the URI link in the first section.
http://lovebitcoins.org/developers.html
does it open your wallet app and pre-compose a send bitcoins transaction with the address and amount filled in? and then wait for the "send" button to be pressed?
2. use your app to scan the QR code in the second section. does it also bring in the address and amount?
if so we will add you to the recommended wallets list on BitPay as being fully URI compatible
https://bitpay.com/bitcoin-compatible-wallets
Jan I don't have an android phone but can you test something for me.
1. on the phones web browser go here and click on the URI link in the first section.
http://lovebitcoins.org/developers.html
does it open your wallet app and pre-compose a send bitcoins transaction with the address and amount filled in? and then wait for the "send" button to be pressed?
2. use your app to scan the QR code in the second section. does it also bring in the address and amount?
if so we will add you to the recommended wallets list on BitPay as being fully URI compatible
https://bitpay.com/bitcoin-compatible-wallets
March 23, 2013, 01:46:32 PM
FAN-TAS-TIC 
Yet another portion of my prediction from the Solution to the Bitcoin Foundation post coming true.
And as for this:
You're not only protected from market swings, but as I also said in my post from 51% attacks:
In other words, I see a future where people do not use bitcoins (or other cryptocurrencies) as their main store of value. They are too volatile and unpredictable; even further down the line there are many unknowns. Instead people will use crypto-coins for what they are best at which is transferring value. They will probably use gold/pm's for what they are best at, which is storing value. Many people will hold bitcoins, and other cryptocurrencies only long enough to get what they need. There will always be investors and speculators, of course, but primarily no cryptocurrency will be used in the way people now use cash, where they keep 99% of their wealth permanently stored there.
Yet another portion of my prediction from the Solution to the Bitcoin Foundation post coming true.
... So far, pretty standard. The difference is, that you will never hold bitcoins for more than a few seconds, as Bridgewalker will automatically exchange them for US dollar as soon as you receive them (and they confirm) and will only buy bitcoins just that moment when you are about to send them. ...
If over 95% of your wealth is usually in gold, for example, are you ever really concerned about a 51% attack, or the possibility of new and better cryptocurrencies? Not really. You only hold a given cryptocurrency for short periods of time, probably based on exchanged rates, and perhaps even managed by a professional.
And as for this:
You can therefore use Bitcoin solely as a payment network, while being protected from market swings.
You're not only protected from market swings, but as I also said in my post from 51% attacks:
As I pondered the implications of all this I realized this also solves the 51% attack.
In other words, I see a future where people do not use bitcoins (or other cryptocurrencies) as their main store of value. They are too volatile and unpredictable; even further down the line there are many unknowns. Instead people will use crypto-coins for what they are best at which is transferring value. They will probably use gold/pm's for what they are best at, which is storing value. Many people will hold bitcoins, and other cryptocurrencies only long enough to get what they need. There will always be investors and speculators, of course, but primarily no cryptocurrency will be used in the way people now use cash, where they keep 99% of their wealth permanently stored there.
March 23, 2013, 01:42:13 PM
Sounds like a very interesting direction! In what manner does the receiving party accept the Dollars? How does one transfer Dollars into the service?
The "interface" to the rest of the world, so to speak, is only Bitcoin. Bitcoin in, Bitcoin out. So in order to fund the account, you will have to buy bitcoins from somewhere else and transfer them. That might seem like an unnecessary step (use USD to buy BTC, just to have Bridgewalker convert it back), but I cannot and do not want to accept USD. Others are much better at selling coins and Bitcoin is the universal glue between us.
Something like this will be the killer app that brings Bitcoin into Joe/Jane average's living room/phone handset.
While nerds like us would probably rather hold bitcoin than bankster paper, a method for peeps to hold fiat while using Bitcoin purely as a payment network is ingenious and needed: perfect competition for Western Union and its ilk.
While nerds like us would probably rather hold bitcoin than bankster paper, a method for peeps to hold fiat while using Bitcoin purely as a payment network is ingenious and needed: perfect competition for Western Union and its ilk.
Thanks! I absolutely agree. This is certainly not for everyone and I am all for doing everything directly in BTC. But this is a middle ground for people who are not quite ready to trust some weird internet money, but see the appeal in the Bitcoin payment mechanism as a kind of "cash for the digital world".
March 23, 2013, 01:24:24 PM
Something like this will be the killer app that brings Bitcoin into Joe/Jane average's living room/phone handset.
While nerds like us would probably rather hold bitcoin than bankster paper, a method for peeps to hold fiat while using Bitcoin purely as a payment network is ingenious and needed: perfect competition for Western Union and its ilk.
While nerds like us would probably rather hold bitcoin than bankster paper, a method for peeps to hold fiat while using Bitcoin purely as a payment network is ingenious and needed: perfect competition for Western Union and its ilk.
March 23, 2013, 01:17:30 PM
Sounds like a very interesting direction! In what manner does the receiving party accept the Dollars? How does one transfer Dollars into the service?
March 23, 2013, 11:17:03 AM
I am excited to announce the launch of "Bridgewalker". After giving Instawallet into the capable hands of Paymium, I had some time to focus on this new project, which I believe is an important stepping stone in making Bitcoin more useful while it is still under the influence of the volatility of its small market.
The basic idea is simple: Bridgewalker is a (hosted) Bitcoin wallet for Android smartphones, which allows you to receive and send bitcoins. So far, pretty standard. The difference is, that you will never hold bitcoins for more than a few seconds, as Bridgewalker will automatically exchange them for Euros as soon as you receive them (and they confirm) and will only buy bitcoins just that moment when you are about to send them. You can therefore use Bitcoin solely as a payment network, while being protected from market swings.
Get the app at: https://www.bridgewalkerapp.com/ !
A word about fees: You might assume that all that exchanging back and forth is prohibitively expensive. But it is actually not too bad (in my opinion), although there is certainly room for improvement. The fee for a "round trip" currently works out to around 1.5 %. Which means, if you send 1 BTC to Bridgewalker and then back right away, you are left with 0.985 BTC. This includes both exchange fees and losses through market spread (Bridgewalker currently uses Mt.Gox for currency exchange). The fees should go down though, as Bridgewalker's volume increases.
One additional feature: Green addresses (https://en.bitcoin.it/wiki/Green_address) make a comeback here. Bridgewalker accepts transactions from certain green addresses (at the moment only Mt.Gox) instantaneously and in turn sends out transactions that can be identified by the green address 1MAxx46Dp3tFw933PxPwEYYGCpxYda2pyH .
Feedback and comments much appreciated! :-)
Edit: Updated description to account for change of counter currency from USD to EUR (11/2013).
Edit: Bridgewalker has been acquired by Hive! (11/2013).
Edit: Bridgewalker is shutting down (03/2014).
The basic idea is simple: Bridgewalker is a (hosted) Bitcoin wallet for Android smartphones, which allows you to receive and send bitcoins. So far, pretty standard. The difference is, that you will never hold bitcoins for more than a few seconds, as Bridgewalker will automatically exchange them for Euros as soon as you receive them (and they confirm) and will only buy bitcoins just that moment when you are about to send them. You can therefore use Bitcoin solely as a payment network, while being protected from market swings.
Get the app at: https://www.bridgewalkerapp.com/ !
A word about fees: You might assume that all that exchanging back and forth is prohibitively expensive. But it is actually not too bad (in my opinion), although there is certainly room for improvement. The fee for a "round trip" currently works out to around 1.5 %. Which means, if you send 1 BTC to Bridgewalker and then back right away, you are left with 0.985 BTC. This includes both exchange fees and losses through market spread (Bridgewalker currently uses Mt.Gox for currency exchange). The fees should go down though, as Bridgewalker's volume increases.
One additional feature: Green addresses (https://en.bitcoin.it/wiki/Green_address) make a comeback here. Bridgewalker accepts transactions from certain green addresses (at the moment only Mt.Gox) instantaneously and in turn sends out transactions that can be identified by the green address 1MAxx46Dp3tFw933PxPwEYYGCpxYda2pyH .
Feedback and comments much appreciated! :-)
Edit: Updated description to account for change of counter currency from USD to EUR (11/2013).
Edit: Bridgewalker has been acquired by Hive! (11/2013).
Edit: Bridgewalker is shutting down (03/2014).
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