Yes, swiping a card then walking out the door with your items is so primitive.
I rather pay $49.99 for Bitpay's digital wallet with a 5 hour battery life, go through various menus, wait several seconds for the QR code to scan and finalize the transaction.
Oh wait, my battery died. I guess I won't be buying anything today.
Is there a gas leak in here? I swear, you guys are thinking like a failing toy company.
Topic: How to Turn Bitcoin Into the Top Payment Network and the Currency of the Future - page 5. (Read 9354 times)
February 21, 2012, 05:46:39 PM
February 21, 2012, 05:43:34 PM
Yes, let's replace cheap plastic, disposable cards with an expensive device. Let's require all the poor people out there to invest in electronics.
What's this I hear? Atlas suddenly wants to champion for the world's poor?
Face it. Electronics that enable activities that cannot be done without them are not at fault for not being able to function in a time and space that they don't in fact exist in.
Did you think Bitcoin was free or something? Have you looked around at the mining subforums lately?
The poor are not going to use the "cheap plastic" or the "expensive device" for in person transactions. They will likely stay with cash. Online where cash does not work is where Bitcoin has the real opportunity with the poor.
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February 21, 2012, 05:29:28 PM
Yes, let's replace cheap plastic, disposable cards with an expensive device. Let's require all the poor people out there to invest in electronics.
What's this I hear? Atlas suddenly wants to champion for the world's poor?
Face it. Electronics that enable activities that cannot be done without them are not at fault for not being able to function in a time and space that they don't in fact exist in.
Did you think Bitcoin was free or something? Have you looked around at the mining subforums lately?
February 21, 2012, 05:26:00 PM
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
I agree with this.
iPOD type little sci-fi wallets with digital screens for the mass market.
One of the biggest problems is super-instantaneous payments user-to-user in the street. 10 minutes of waiting for the first confirmation is good enough for online-payments, but elsewhere the received funds must flash on your screen within a second.
I guess there will be numerous different solutions to handle Bitcoins.
February 21, 2012, 05:09:29 PM
bitcoin cannot exist as a currency and a commodity, and be widely accepted as either.
look at this scenario: sitting around at a restaurant, waiting for the price to go up so you can settle the receipt.
When/if bitcoin gets to that level of acceptance, the price won't be as volatile as it is currently and so it won't be a problem.look at this scenario: sitting around at a restaurant, waiting for the price to go up so you can settle the receipt.
February 21, 2012, 05:06:55 PM
bitcoin cannot exist as a currency and a commodity, and be widely accepted as either.
look at this scenario: sitting around at a restaurant, waiting for the price to go up so you can settle the receipt.
look at this scenario: sitting around at a restaurant, waiting for the price to go up so you can settle the receipt.
February 21, 2012, 05:04:40 PM
I respectfully disagree with the OP that bitcoins on some type of a plastic spending card is the future.
Plastic discs for music are not used anymore. Everything is all digital, portable, and has much better utility.
Plastic payment cards for purchases are going to face a similar fate as CDs. I don't think it makes any sense to have bitcoin go backwards in technology.
The future is all digital. Payments Cards, Gift Cards, all that plastic crap in your wallet is about to be replaced with something in digital form, just like the stack of music CDs has been replaced my collections of MP3 files.
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
Plastic discs for music are not used anymore. Everything is all digital, portable, and has much better utility.
Plastic payment cards for purchases are going to face a similar fate as CDs. I don't think it makes any sense to have bitcoin go backwards in technology.
The future is all digital. Payments Cards, Gift Cards, all that plastic crap in your wallet is about to be replaced with something in digital form, just like the stack of music CDs has been replaced my collections of MP3 files.
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
Credit Cards were designed in the 1950's and 1960's for in person transactions. Their use online is actually a hack and one that leads to fraud, charge backs etc. What I see that many forget is that there are many people who still use cash and it is in most cases the poor. The reason they use cash is because they do not have a credit card or a bank account for that matter. To mention an extreme case. One can give cash to a homeless person on the street, but can one perform the same transaction with a digital wallet? I am not aware of many homeless people that have merchant accounts! To put it bluntly the poor are the low hanging fruit for Bitcoin, not for in-person transactions but for online transactions.
February 21, 2012, 04:59:35 PM
So you don't use credit cards?
Do you really think a business will stay in business if it keeps misusing people's financial information?
The worry is unwarranted and, again, the cards are disposable.
Actually I don't have a credit card.Do you really think a business will stay in business if it keeps misusing people's financial information?
The worry is unwarranted and, again, the cards are disposable.
I do use a debit card though and it has the same flaw according to you. What you forget is that credit card companies can restore any funds stolen from me. A stolen bitcoin private key does not have the same problems as a stolen credit card number.
I should have realized you were Atlas. Thanks for saving me time, Matt.
A stolen Bitcoin private key will result in a very small loss according to my system.
You have yet to prove using multiple cards with various amounts will result in a likely chance of significant loss:
It won't.
I stand by my system completely. Getting ripped off with my system is as likely as your waitress refusing to give you change out of a $50 bill.
February 21, 2012, 04:57:32 PM
I respectfully disagree with the OP that bitcoins on some type of a plastic spending card is the future.
Plastic discs for music are not used anymore. Everything is all digital, portable, and has much better utility.
Plastic payment cards for purchases are going to face a similar fate as CDs. I don't think it makes any sense to have bitcoin go backwards in technology.
The future is all digital. Payments Cards, Gift Cards, all that plastic crap in your wallet is about to be replaced with something in digital form, just like the stack of music CDs has been replaced my collections of MP3 files.
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
Plastic discs for music are not used anymore. Everything is all digital, portable, and has much better utility.
Plastic payment cards for purchases are going to face a similar fate as CDs. I don't think it makes any sense to have bitcoin go backwards in technology.
The future is all digital. Payments Cards, Gift Cards, all that plastic crap in your wallet is about to be replaced with something in digital form, just like the stack of music CDs has been replaced my collections of MP3 files.
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
Yes, let's replace cheap plastic, disposable cards with an expensive device. Let's require all the poor people out there to invest in electronics.
February 21, 2012, 04:50:36 PM
I respectfully disagree with the OP that bitcoins on some type of a plastic spending card is the future.
Plastic discs for music are not used anymore. Everything is all digital, portable, and has much better utility.
Plastic payment cards for purchases are going to face a similar fate as CDs. I don't think it makes any sense to have bitcoin go backwards in technology.
The future is all digital. Payments Cards, Gift Cards, all that plastic crap in your wallet is about to be replaced with something in digital form, just like the stack of music CDs has been replaced my collections of MP3 files.
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
Plastic discs for music are not used anymore. Everything is all digital, portable, and has much better utility.
Plastic payment cards for purchases are going to face a similar fate as CDs. I don't think it makes any sense to have bitcoin go backwards in technology.
The future is all digital. Payments Cards, Gift Cards, all that plastic crap in your wallet is about to be replaced with something in digital form, just like the stack of music CDs has been replaced my collections of MP3 files.
Digital Wallets are the future. What we need are simple, elegant, mobile bitcoin wallets. No block chain, no hassle, make it simple and easy. Ditch the plastic cards, that's 1950s technology. Go with the digital wallet, its where bitcoin shines!!!
February 21, 2012, 04:48:40 PM
So you don't use credit cards?
Do you really think a business will stay in business if it keeps misusing people's financial information?
The worry is unwarranted and, again, the cards are disposable.
Actually I don't have a credit card.Do you really think a business will stay in business if it keeps misusing people's financial information?
The worry is unwarranted and, again, the cards are disposable.
I do use a debit card though and it has the same flaw according to you. What you forget is that credit card companies can restore any funds stolen from me. A stolen bitcoin private key does not have the same problems as a stolen credit card number.
I should have realized you were Atlas. Thanks for saving me time, Matt.
February 21, 2012, 04:45:06 PM
February 21, 2012, 04:38:59 PM
This is not convenient. What happens when I want to spend $25? I go to my computer and transfer funds around and then have to wait for 6 confirmations?
You use another card just like how you take another 20 out of your pocket. The cards will be like banknotes but less wasteful. You can rewrite a card with a different key if you want. Giving anyone your private key, even a "trusted" merchant, is incredibly foolish. After swiping your card once, you could never trust it again.
So you don't use credit cards?
Do you really think a business will stay in business if it keeps misusing people's financial information?
The worry is unwarranted and, again, the cards are disposable.
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February 21, 2012, 04:25:15 PM
What I mean is that people won't have to put more than say $20 on a card.
This is not convenient. What happens when I want to spend $25? I go to my computer and transfer funds around and then have to wait for 6 confirmations?Giving anyone your private key, even a "trusted" merchant, is incredibly foolish. After swiping your card once, you could never trust it again.
A smart phone app that reads a QR code is the easiest and most secure so far IMO.
https://bitcointalksearch.org/topic/bitcoin-vending-machine-58552 links to this video that shows how easy it can be http://www.youtube.com/watch?v=pDOcLros-w0
Alas, this has all been discussed immensely under Atlas's other numerous account names, but he just doesn't get it. He thinks that the risk of giving away your information to a merchant is better than the security provided by a service that has the potential to screw you over.
Bottom line guys, when you have to use a service, you have to trust someone. It's money for Christ's sake.
February 21, 2012, 04:23:11 PM
What I mean is that people won't have to put more than say $20 on a card.
This is not convenient. What happens when I want to spend $25? I go to my computer and transfer funds around and then have to wait for 6 confirmations?Giving anyone your private key, even a "trusted" merchant, is incredibly foolish. After swiping your card once, you could never trust it again.
A smart phone app that reads a QR code is the easiest and most secure so far IMO.
https://bitcointalksearch.org/topic/bitcoin-vending-machine-58552 links to this video that shows how easy it can be http://www.youtube.com/watch?v=pDOcLros-w0
February 21, 2012, 04:04:29 PM
The only way to fully secure something like this is to use two keys to sign transactions, and have every card swipe verified and confirmed by phone. But if you are carrying a phone with a Bitcoin app anyway, might as well just use that by itself.
Making Bitcoin work with just a plastic card may be impossible.
Making Bitcoin work with just a plastic card may be impossible.
The cards can be made disposable. A cash/credit hybrid, if you will. The whole security paradigm disappears once a single card doesn't have to be made fully secure.
What I mean is that people won't have to put more than say $20 on a card.
You won't have to carry more than you can afford to lose.
February 21, 2012, 04:02:55 PM
ordinary people will never understand what is actually going on with private keys and public keys and all that.
just like ordinary people don't understand what goes on with credit cards...
just like ordinary people don't understand what goes on with credit cards...
I am glad we agree. I just want to see things as seamless as possible. I just want people to feel like they are handing cash to each other with no hurdles in between. I want the software to completely serve the people.
I don't use mtgox but I thought they only require ID on values over 1000 USD or 10000 USD a month???
and this isn't just a mtgox rule its a rule with any exchange that operates legally with AML compliance
and this isn't just a mtgox rule its a rule with any exchange that operates legally with AML compliance
A wallet can be made that deals directly and nearly exclusively with the Bitcoin network on the web. Blockchain.info comes close.
Yeah, the ID discussion is moot at this point in time.
February 21, 2012, 04:01:01 PM
The only way to fully secure something like this is to use two keys to sign transactions, and have every card swipe verified and confirmed by phone. But if you are carrying a phone with a Bitcoin app anyway, might as well just use that by itself.
Making Bitcoin work with just a plastic card may be impossible.
Making Bitcoin work with just a plastic card may be impossible.
February 21, 2012, 03:59:00 PM
It's easy in theory but ordinary people are still turned off by the current interface. Again, it works like this in theory but the user still can't easily understand the process.
Also, Mt. Gox. holds your funds for you. There's no need for that. There's no need to require ID in order to use Bitcoins.
ordinary people will never understand what is actually going on with private keys and public keys and all that.
just like ordinary people don't understand what goes on with credit cards...
I don't use mtgox but I thought they only require ID on values over 1000 USD or 10000 USD a month???
and this isn't just a mtgox rule its a rule with any exchange that operates legally with AML compliance
February 21, 2012, 03:47:57 PM
Step 1: Make a Bitcoin web portal that is the easiest way to pay and get paid.
How does money work for most people online?
1. They find an item or service they like.
2. They click purchase.
3. They enter their credit card or Paypal information.
4. The item/service is on its way.
That's it. They don't have to wait for the network to finish downloading the blockchain. They don't have to enter a couple of passwords and validate the purchase an extra time. It just works.
How does money work for most people online?
1. They find an item or service they like.
2. They click purchase.
3. They enter their credit card or Paypal information.
4. The item/service is on its way.
That's it. They don't have to wait for the network to finish downloading the blockchain. They don't have to enter a couple of passwords and validate the purchase an extra time. It just works.
Use an alternative client and you wont have to wait for the blockchain to download.
Use an alternative client with the new URI scheme and payment is as easy as clicking a link and hitting send.
That is alot easier than credit cards.....
Even with the default client and the new URI scheme its as easy as letting the blockchain download, clicking a link and hitting send.
It only takes me 2 hours to download the whole blockchain.
and it takes like 3 seconds to hit a link and hit send
What is so hard about that?
Tell this to a person who doesn't even know what a client is. Tell me how that goes.
This is about introducing ordinary people to Bitcoin.
1. download and install the client
2. run the client
3. wait for the bar at the bottom to fully load could be a couple hours but it will only take awhile to load your first time
4. load your wallet with some bitcoins
5.click a payment link
6.click send
easy enough right?
And for people that really have no clue what theyre doing:
1. go to mtgox.com
2. make a account and load it with some money
3. buy bitcoins
4. send your payment to the payment address provided by seller
It's easy in theory but ordinary people are still turned off by the current interface. Again, it works like this in theory but the user still can't easily understand the process.
Also, Mt. Gox. holds your funds for you. There's no need for that. There's no need to require ID in order to use Bitcoins.
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