Topic: Help my friend take bitcoin - page 2. (Read 2066 times)
Robbery will never be able to be excluded in face to face situations like this. Even with bitcoin. Watch only mode with a coinbase app or similar services would work fine.
The whole issue with robbery would be the same if he took cash... except from he can easily transfer the Bitcoin away from his ''hot wallet'' from his taxi, so surely that is a hell of a lot safer.
In fact safety would be the main advantage imo...
In fact safety would be the main advantage imo...
Sp00d3r, have you looked into https://coinkite.com? I haven't used it personally however it looks promising.
- Easily accept Bitcoin, Litecoin & Blackcoin from Coinkite Debit Cards or any other Wallet by QR code
- Retail PoS and Exchange Terminals
- Vault-as-a-Service and Bitcoin API
this looks like a cool idea - havent seen this before
Having the paper wallet would be helpful, but if he goes for the official Bitcoin wallet on Android, the phone creates a QR code for them to scan as well. Paper could get lost or ruined, but you'll always be able to scan the QR code from the Bitcoin wallet.
All he needs is some QR codes printed out for backup and a good Phone App to monitor transactions and provide calculations. Accepting Bitcoin will definitely increase his publicity and encourage repeat customers.
Ok I have no experience with the android wallet. Is it possible for him to have a watch only address within an app that can also generate QR codes with a set fee already? If this is so, I would just generate the private key offline and make sure he keeps it safe. People are much better at physical security than digital security.
Too many people that I know, and have recommended bitcoin to have had theirs stolen or lost due to forgetting passwords, losing backups etc.
Too many people that I know, and have recommended bitcoin to have had theirs stolen or lost due to forgetting passwords, losing backups etc.
What I would do here is suggest that he transfer the Bitcoin that he doesn't need to convert to fiat just to run a business over to a "cold wallet" -- essentially a hard drive that isn't connected to the Internet but can still receive Bitcoin because the blockchain remembers every transaction. If he doesn't feel like hodling, suggest that he use Bitcoin for as many transactions as possible in his daily life.
Ok I have no experience with the android wallet. Is it possible for him to have a watch only address within an app that can also generate QR codes with a set fee already? If this is so, I would just generate the private key offline and make sure he keeps it safe. People are much better at physical security than digital security.
Too many people that I know, and have recommended bitcoin to have had theirs stolen or lost due to forgetting passwords, losing backups etc.
Too many people that I know, and have recommended bitcoin to have had theirs stolen or lost due to forgetting passwords, losing backups etc.
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Otherwise if he has a bunch of coins in one address AND/OR he can access it on his phone, it will encourage people to potentially rob him.
Thats why you use watch only mode on the phone. No private key, nothing to rob, yet you can make custom QR codes with the amount coded in. You can still use the sticker as fallback.
The Sticker however would mean all the coins on one address. Watch only addresses can easily be scanner before ever shift. That way you can even check later which day was a good one for BTC, just by checking the adresses history.
I think an online wallet on his phone is a good option. If his wallet starts getting fat he can transfer some out later. He could also go with a QR code sticker that patrons scan. He could then check the balance on blockchain with his phone. This protects his bitcoins from theft because he can only receive coins while he is working.
Yeah if I were him I'd have a QR code sticker in the back of the cab for customers to scan and send him the coins. He can then check if he received the coins by using his phone to check the Blockchain (not actually log into anything). Then once a shift or every night transfer all the coins out of the address to various other addresses. Otherwise if he has a bunch of coins in one address AND/OR he can access it on his phone, it will encourage people to potentially rob him.
I think an online wallet on his phone is a good option. If his wallet starts getting fat he can transfer some out later. He could also go with a QR code sticker that patrons scan. He could then check the balance on blockchain with his phone. This protects his bitcoins from theft because he can only receive coins while he is working.
paper wallet is not good idea. The driver should have wallet application installed in his phone. Once the customers get on the car, they can scan the qr code and pay with btc. Before they get to the destination, the drivers's wallet will get at least one confirmation from the phone wallet.
This ^^. Confirmation is also important, as much as paying. Wallet application payment at beginning is a good idea.
Sp00d3r, have you looked into https://coinkite.com? I haven't used it personally however it looks promising.
- Easily accept Bitcoin, Litecoin & Blackcoin from Coinkite Debit Cards or any other Wallet by QR code
- Retail PoS and Exchange Terminals
- Vault-as-a-Service and Bitcoin API
^ yes this is what I thought, I would make him a laminated public address that people could scan and make payments to, and he can just have the blockchain.info link to his address in his phone to check if a transaction has been broadcast. Simple?
What is the correct android app though? Who is the developer? I'm less trustful of this method because if I generate the private key offline and print the keys I know that no one else can ever know the private key.
What is the correct android app though? Who is the developer? I'm less trustful of this method because if I generate the private key offline and print the keys I know that no one else can ever know the private key.
paper wallet is not good idea. The driver should have wallet application installed in his phone. Once the customers get on the car, they can scan the qr code and pay with btc. Before they get to the destination, the drivers's wallet will get at least one confirmation from the phone wallet.
But that's not really how it works when paying for a cab. You usually pay at the end of the fare the amount you owe the driver.
In my opinion he should just have stickers of the QR code in the car so people can scan it, send the payment (here the driver will check on his ipad or phone if the transaction went through) and the customer leaves. Don't think there is any need for a confirmation with something like this. It's not like people are going to try and double spend in a cab, on their smartphone/laptop anyway.
Mycelium (sorry, but you had the name wrong
) indeed. It can handle addresses without a private key (watch only addresses). That way the coins are not lost in case of a robbery. Or if that is not a concern your friend could also offer currency exchange via "Mycelium local trader" on the side (not sure if youd need a permit for that though).In any case when someone wants to pay with bitcoins Id currently advice your friend to negotiate a fixed price for the ride and have the customer send the TX durring the drive. That way "services" like bitundo[1] are not a problem. Maybe give a little discount for bitcoin payment
[1] http://www.bitundo.com/
Get him a Coinbase account so that he can access his wallet from his phone. He can then print his QR code on back of driver seat or anywhere on his cab. He can convert BTC to USD whenever needed via Coinbase.
I would advice a nice "Bitcoin Accepted Here" sticker on the outside of cab too.
I would advice a nice "Bitcoin Accepted Here" sticker on the outside of cab too.
paper wallet is not good idea. The driver should have wallet application installed in his phone. Once the customers get on the car, they can scan the qr code and pay with btc. Before they get to the destination, the drivers's wallet will get at least one confirmation from the phone wallet.
Mycellum wallet and have him put clear window sticker clings if he can spare the space.
He's a taxi driver and wants to accept bitcoin as payment.
What's his best option? He has an android phone, I was also thinking I could make him a paper wallet and have the QR code on his phone that people could make payments to, this being more secure.
What do you all advise?
Thanks,
Sp00d3r
What's his best option? He has an android phone, I was also thinking I could make him a paper wallet and have the QR code on his phone that people could make payments to, this being more secure.
What do you all advise?
Thanks,
Sp00d3r
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