Idea for mainstream adoption -- Preloaded Bitcoin Wallets

dead_m92

hero member

Activity: 650

Merit: 500

Quote from: ?? on ??

you could just do this with a physical coin... It has already been done as well, look at life on bitcoin they use the physical coin to pay for gas.

There are people who are buying physical coins on this forum in form of chips.. They are collectibles, but they also work by the same way than those coins.

In fact, most of them have the private key to a wallet to 0.001 btc, or more, the price of each coin depends on how much money is loaded on that wallet.

But what is the difference as paying with a paper wallet? it is the same.

jseverson

hero member

Activity: 1834

Merit: 759

It's a good idea if you don't want to be linked to an exchange. How long are you going to be able to avoid that though? I imagine nearly everyone who deals with crypto has to sign up for an exchange at one point, so it may be easier to just speed up the inevitable and buy from one.

If hardware wallet companies could preload with the exact amount of Bitcoins you want though, that would probably be extremely convenient. That is, if you have determined that you're okay with a third party company handling your private keys at one point.

farberjustin

newbie

Activity: 2

Merit: 0

Trust is definitely the main concern. If the company provided instructions on how to reset the wallet after receiving it, would that help?

Coins could be transferred to a paper wallet momentarily, the wallet could be reset to factory settings, and then transferred back. It'd still be way easier for new users than buying through an exchange.

Check out https://preloadedwallets.com and please let me know your thoughts on what else could help resolve the trust issue. They're obviously not intended for existing hodlers, and I really do think they'll help encourage mainstream adoption.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: 12648430 on December 08, 2013, 08:17:20 PM

The problem is you have to trust the company that issues them.

this is what i'm thinking as well. if they preloaded your wallet, that means they'd have access to your private key or seed. plus it's not really that hard to set up an account on blockchain.info. it's about as easy as logging into your account and checking your balance, so it wouldn't make much of a difference.

takagari

legendary

Activity: 1050

Merit: 1000

I give paper wallets as gifts.

www.bitcoinpaperwallets.com
For family I print a second copy to stick in a safety box, so in 5 years when my sister has long lost her's I can reclaim the money lol.

Print a Bunch of those blank. secure them.

Sell bTC for cash and use your phone app to add said amount to the paper wallets. But it's still a trust issue Sad

12648430

full member

Activity: 144

Merit: 100

The problem is you have to trust the company that issues them.

btcprice

sr. member

Activity: 434

Merit: 250

My niece is getting married next summer. I'm going to give her a pre-loaded bitcoin wallet as a wedding present.

Entengro

newbie

Activity: 9

Merit: 0

We all know bitcoins are so hard to purchase. You either have to use a website and link your bank account and get verified. I think Soon trezor will come out with their wallets which will essentially be a hardware wallet. I know people on mastercoin forums are creating a cheaper alternative-- eventually the price of hardware wallets will drop quickly, considering the hardware is inexpensive and the software is open sourced.

What if trezor or some other company began preloading the wallets with different units of bitcoins (1btc, 2 btc, 4 btc). Of course the price would fluctuate from day to day depending on the exchange rate. But I'm sure there could be some workable system. Think of the possilbities. Retail stores, websites, pawn shops. Even gas station owners could sell bitcoin wallets and they are already use to fluctuating prices.

What do you think of this idea?

Topic: Idea for mainstream adoption -- Preloaded Bitcoin Wallets (Read 1820 times)