Topic: One of the problems Bitcoin help to solve (Read 1559 times)
On the issue of cards, most of our own transactions is still being done using cash and some times bank transfers. But one problem bitcoin has been able to solve for me is the low cost of transaction as the amount needed to transfer even a large amount is more or less nothing. Another is the issue of cross border transfer without any constraint whatsoever.
Yes, broken card can prove very irritating and costly especially when there is an emergency or any kind of emergency. Bitcoin is really useful in such case but I think we need some solution for the confirmation time, I mean card takes maximum 2 or 4 minutes to get transaction confirmed but bitcoin usually takes up to 10 minutes even with high fees so using it instead of the card takes more time. I am sure we will soon have some solution for it.
Well the solution {SegWit/LN} was thrown out there, but not everyone seem to think that it would solve the problem. The miners for
one, are scared to lose fees and they seem to boycott this.
...The wallet providers see the potential in this, and some of them seem to be on board with this.
...So yea, we are waiting to see how this pan out. If Blockstream gets it's way, we are going to have "instant" transactions with LN.
Yes, broken card can prove very irritating and costly especially when there is an emergency or any kind of emergency. Bitcoin is really useful in such case but I think we need some solution for the confirmation time, I mean card takes maximum 2 or 4 minutes to get transaction confirmed but bitcoin usually takes up to 10 minutes even with high fees so using it instead of the card takes more time. I am sure we will soon have some solution for it.
Yes, with bitcoin there are no problems with physical things like cards (although I've heard about the possibility of carrying your btc on some physical device (not computer, like a btc coin, for instance) but there are some other problems related to bitcoin like the big one that you can pay in a supermarket with a card but can't use bitcoin for such purposes.
according to nakamoto institute the only problem bitcoin solves is Double Spending
one of the problems that I encountered before that bitcoin had helped me is the financial problems! Bitcoin helped me in my daily budget. It also taught me a lot about investing, stock market and trading! bitcoin opened a lot of opportunities to everyone and helped us to gain more and taught us a lot of things about business and investments!
Sure thing, bitcoin is really benificial for people whose seeking for an extra job. It helps us to make our transaction faster, easier, and reliable. It is too easy too understand how bitcoin's trading works, and how we can use bitcoin unlike in forex currency, you need to attend seminars or read some books.
one of the problems that I encountered before that bitcoin had helped me is the financial problems! Bitcoin helped me in my daily budget. It also taught me a lot about investing, stock market and trading! bitcoin opened a lot of opportunities to everyone and helped us to gain more and taught us a lot of things about business and investments!
It seems your explanation is so strict for the customer, dude. But in fact, I just need 10 minutes to get a new card from my bank. Only provide my govermentID and I got a new card to change the old broken one.
It depends on the bank but usually, it takes a week or 10 days to get another one and you have to pay it.
Does anybody know if any start/company has started producing such hardware NFC payment?
It seems your explanation is so strict for the customer, dude. But in fact, I just need 10 minutes to get a new card from my bank. Only provide my govermentID and I got a new card to change the old broken one.
advertising bitcoin is not the problem.
using bitcoin is.
it needs to be simplified!!
even hardware wallets need to be revamped. the issue is that it is too cumbersome, complicated and needs downloads/browser extensions or server access.. plus needing to copy and paste lengthy gobbledegook addresses and decimal numbers
but there is a solution, should someone want to do it.
SMART WATCHES/FITBIT wristbands
advantages
no software touches the device
private keys remain hidden
the device is wearable (new fashion craze=popular)
making a tx is as simple as shaking your wrist
no need to understand the mechanics of bitcoin to use it
just google "programmable smart watches with NFC" and you'll see the tech is available.
barclays are ahead of the game. first they are doing it with their native fiat payment method,
https://www.shop.bpay.co.uk/categories/buy-bpay/product/wristband/wristband
but barclays is knee's deep in hyperldger so next will be a hyperledger wristband, which will make hyperledger (bitcoins altcoin(banker) competitor) appealing to people that are not paranoid geeks
using bitcoin is.
it needs to be simplified!!
even hardware wallets need to be revamped. the issue is that it is too cumbersome, complicated and needs downloads/browser extensions or server access.. plus needing to copy and paste lengthy gobbledegook addresses and decimal numbers
but there is a solution, should someone want to do it.
SMART WATCHES/FITBIT wristbands
advantages
no software touches the device
private keys remain hidden
the device is wearable (new fashion craze=popular)
making a tx is as simple as shaking your wrist
no need to understand the mechanics of bitcoin to use it
just google "programmable smart watches with NFC" and you'll see the tech is available.
barclays are ahead of the game. first they are doing it with their native fiat payment method,
https://www.shop.bpay.co.uk/categories/buy-bpay/product/wristband/wristband
but barclays is knee's deep in hyperldger so next will be a hyperledger wristband, which will make hyperledger (bitcoins altcoin(banker) competitor) appealing to people that are not paranoid geeks
Looks like the most interesting part was this smart bitcoin wristband to do transaction easier and faster without worrying about how to use bitcoin
, especially for women I guess.The cards problem just seems as poor designed but to have bitcoin transaction in the market/groceries/supermarket accepted bitcoin is what we chasing for, that's why the idea to make simple transaction occurred and looking for implementation.
I guess to some part of the world especially on the developing country, Bitcoin help to reduce unemployment because Bitcoin opens a new horizons of opportunity especially to those who are into freelancing jobs.
not when the fee is more than an hours labour in those same developing countriesAs for that wristband, that would be cool if implemented but wouldn't it be the next target of snatchers? Once they knew about it and seen it wearing around the streets, there might be no issue on the transaction security but it might compromise the person wearing the gadget. I see it very cool but at the same time worries on the person wearing it.
less risk than pickpocketing your debit card or phone. because its on your arm so you would notice someone playing with your arm more so the someone sliding hand in back pocket
The problem bitcoin has been able to solve for me and most people is the ability to earn something while doing what I normally do online but this time doing it in a productive way and the earnings from all over the world. It has literally turn me to someone earning from abroad in an easy way which would have not been this easy if we had to go through the process of either paypal or western union difficulties...
I guess to some part of the world especially on the developing country, Bitcoin help to reduce unemployment because Bitcoin opens a new horizons of opportunity especially to those who are into freelancing jobs.
As for that wristband, that would be cool if implemented but wouldn't it be the next target of snatchers? Once they knew about it and seen it wearing around the streets, there might be no issue on the transaction security but it might compromise the person wearing the gadget. I see it very cool but at the same time worries on the person wearing it.
The problem bitcoin has been able to solve for me and most people is the ability to earn something while doing what I normally do online but this time doing it in a productive way and the earnings from all over the world. It has literally turn me to someone earning from abroad in an easy way which would have not been this easy if we had to go through the process of either paypal or western union difficulties...
Not sure where you got this picture, or how old it is, but the ideia is indeed out there, for a long time, and it's already built (or at least partially built), just not commercialized.
Any clues regarding what happened to this?
Any clues regarding what happened to this?
i came up with the wristband concept and created the image during my exploration of what the banks are doing to update themselves (barclays UK wristband) and barclays getting involved in hyperledger)
i have thrown a few concepts out into the community to let people grab if they want to develop.
but cant remember seeing "sigsafe", in the past, even though i been around since 2012..
maybe the guy from sigsafe should work with the hardware wallet teams and restart his project as more of a smartwatch or just launching it as the keyfob.
as i feel that noob/non-techy people would find 'touchless' pay beneficial compared to current bitcoin payment methods.
as i feel the requirement of current hardwallets needing usb and browser extentions, are missing the point of airgapped utility.
good find though.
cheers seems im not the only one thinking outside of the box
I agree. This is something bitcoin easily takes care of for both customer and shop worker/owner. It is a trust less network so no waiting for anything to verify or to be sent to anyone just very quick solutions instead of wasting your time. Not being physical means you have no card to lose either.
Not sure where you got this picture, or how old it is, but the ideia is indeed out there, for a long time, and it's already built (or at least partially built), just not commercialized.
Any clues regarding what happened to this?
I have never had such kind of problem with my cards. Yes that's what kind of problem bitcoin can avoid. But there is nothing ideal, so I think with bitcoin payment will be also some kind of problems that will have place to be from time to time.
nothing is ideal but bitcoin is still better than any other payment sources, it is easy to use, easy to store, easy to borrow and easy to take it everywhere,. and I don't know what kind of problems you are saying that will have place from time to time? Also, how about the security compared with credit cards and NFC payment?
the only data sent out of a wristband is public keys and signed transactions.. imagine it as next gen hardware wallets
The price looks affordable for many people, but smartwatch/wristband sales isn't that good compared with smartphone. Only few people who use smartwatch/wristband.
its a new concept. disney land is already letting kids at their themeparks buy things with a wristband rather than needing to drag mum&dad along with their debit cards.
barclays uk are starting a wristband payment instead of carrying around a smart phone.
google "wristband payments",
you'll see its the new 'fitband fashion craze' thats started very recently. which has no worry of phone battery charge issues or fiddling in your pockets to enable an app. you just swipe your wrist and go.
bitcoin needs to be as simple as swiping your wrist. to allow it to be as useful as 'other payment methods'.. as we all honestly know typing in addresses/scanning qr codes and typing in decimal amounts can be irritating even for those that understand bitcoin
everything you said is 100% correct, I can't dare to deny them. but the main question is "How to use bitcoin in those shops than"?
when we decide to use bitcoin to shop we again stuck on that point that we need to exchange/convert bitcoin to fiat or we have to load our credit cards to use bitcoin..
I agree that bitcoin is the sulotion of these problems,.. but how to solve the problem of not usable of bitcoin.?
when we decide to use bitcoin to shop we again stuck on that point that we need to exchange/convert bitcoin to fiat or we have to load our credit cards to use bitcoin..
I agree that bitcoin is the sulotion of these problems,.. but how to solve the problem of not usable of bitcoin.?
We need to find solution to these problems. Rather these are not exactly the problems and there are work around available for them. If Bitcoins are accepted in that particular store and store management accepts 1 confirmation, then most of the problem is solved to much extent.
I have never had such kind of problem with my cards. Yes that's what kind of problem bitcoin can avoid. But there is nothing ideal, so I think with bitcoin payment will be also some kind of problems that will have place to be from time to time.
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