Topic: One Idea for pre-confirmed TX's without Fiat (Read 354 times)

I was just talking on another thread about the issues with replacing fiat with bitcoin in fast shopping out in the real world and had a thought.  right now, i can use bitcoin nearly everywhere here, but it still is backboned by fiat.  for example, burger king takes bitcoin, but you deposit the bitcoins ahead of time and then spend that confirmed amount at the location, so basically burger king is giving you a fiat credit line based on the collateral of the bitcoin deposit.

without that, i would have to sit in drive through and wait on X number of confirmations or burger king would have to release my food to me without a safe number of confirmations.  here's the first thought i had.  instead of depositing bitcoin to burger king ahead of time and having it represent fiat, what if burger king and i shared a side chain of bitcoin, "burger bucks".  the main drawback is that if i do not spend the entire deposit, the remaining funds are just sitting there, either to be sent back by burger king or wait until i buy something again.

expanding this thought, we would need a sidechain that is accepted by multiple businesses.  i put $100 in bitcoins in the sidechain and they can be spent all over the city. it would take some work, but could be done. there is still the issue of depositing funds far prior to the transactions, but it eliminates fiat and brings bitcoin up to the speed of services like applepay, google pay, paypal and services of that nature. people are using these all the time and many of them deposit funds ahead of time.  there is really no way that the sidechain could extend a "credit" margin based upon connection to am external funding source without some danger of loss. an external bitcoin wallet could be queried for balance at the time of purchase and those funds automatically moved to the side chain, but we are then right back to a business using faith on an unconfirmed transaction. 

it also opens a small window for real "credit".  letting a person use a certain amount of the sidechains funds based upon credit establishing factors, but that is moving really close to leaving anonymity and decentralization behind, because someone has to make those credit decisions and they are going to need some personal info to make that choice and we suddenly have a central management group, human controlled in the middle of crypto.