Instant transfer is possible if neither the sender nor the receiver know the private keys in the transferred wallet, such as in the case of a Casascius coin. However, this introduces other risks.
Ah okay so then places like Walmart would have to tie one BTC address to you, then to process transactions instantly they would need to build credit over time allowing micro and small transactions to go through instantly within the created system.
This address would also be tied to your identify and this can have many more other uses than instant transactions.
Like Bitcoin, you can't duplicate yourself.
They could just accept credit cards built on top of bitcoin which will have all the disadvantages and advantages of credit cards today. The customer can then choose which payment method they prefer.
There is no reason a bitcoin credit card can't exist, it just hasn't happened yet (that I know of).
You go through the normal credit checks, you receive your card, you buy things, and at the end of the month you pay your bill, only you pay with bitcoins instead of fiat.
The system is already in place, no need to reinvent the wheel.
No one wants to carry around plastic.
I only carry my phone and an ID plus a credit card -- by force -- I'd rather pay for everything on my phone along with my identity.
Any pictures are on my phone, everything else I need is on my phone, I have no need for a physical wallet.
I have a thin phone case that allows a few cards to slip in.
At the end of the day, everything is going to merge into something, and I highly doubt plastic cards will be around in the future. We don't need any extra physical things, just
adaptable devices with
free market programming.
That being said, the crediting system is open to a free market and can easily be implemented for stores even using the basic windows software (which they do or other modified OS's)