Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 34021. (Read 26709727 times)

The no bank aspect isn't what will win the masses.  As long as they are competent with security, I don't see a problem unless they aren't upfront about their real identities.  The need to be a registered business with the proper licenses.  Bitcoin is great for those of use who know how to secure it ourselves, but the average person is scared they will get hacked and lose it all.

This is what I'm finding confusing.  Going by the limited information on the site alone it says: To make a transaction simply text your request. ex. "send '555-phon' 10 for beer".

Please bear in mind I may have got this totally wrong because I am not a techie.  But my understanding of that is that you're sending your payment SMS to the service provider not the recipient - in which case isn't it just an on-line wallet service with SMS instruction for payments and SMS notification of receipts?  If so then the private keys of the wallets associated with the phone numbers surely have to be kept on the service provider's side.  In which case, my question is: Are they only accessible via instruction from the phone or does the service provider also have access to them.  Unlike Blockchain.info wallets where the encryption/decryption can be done on the client side I can't see how that could be handled by an sms-only phone.

I'm not saying the service provider is untrustworthy but if my understanding is correct one essential aspect of Bitcoins - i.e. not needing a bank - is absent.  Maybe paywithbits.com is more trustworthy than Barclays or Mpesa?  I don't know but it's a big step away from what in Bitcoin world we're used to and I'm reservedly excited about this as something I'd like to see go viral in developing nations until I understand more.

I don't see how it could be the latter.  You are sending them an sms, they have no way to access a private key on your device.

There's not a lot of info on their website is - and I can't find any discussion on here about it either.  Have they just come out of the blue?  I sent an SMS to 'signup' about half an hour ago and am awaiting confirmation.  I think the main thing I'd like to know is whether the users' in-the-cloud wallets are accessible by the company or whether they're more like blockchain.info's only accessible by the user.  Not wanting to be a wet blanket but if the former then everybody signing up ought to familiarise themselves with the mybitcoin history!

I don't see what are the fees  

Edit: And I don't know how to send bitcoins to my phone number 

Yeah this is a HUGE deal.

Can you say leapfrogging technology?

what are you talking about? no exchange prices gold in kilos. everywhere prices in ounces.

and every exchange prices bitcoins in 1 BTC

if you want to start a movement to quote merchant prices in mBTC, then obviously that is a good idea as the markets continue to move up. but it makes no sense to quote the exchange rate in anything other than its actual rate

For the same reason we normally deal with gold in ounces or grams instead of kilos.

why are you quoting prices in mBTC ?

Also very interesting
http://paywithbits.com
http://techcrunch.com/2013/04/28/pay-with-bits-wants-to-be-the-square-for-bitcoin/

So am I.

The release of BITCOINATM will be a media whore for at least a week.

Bullish in my view.

 

Yeah, probably some supernode deal 

No proof in blockchain. :-)

If we get $5 drop because of a few posts then people don't believe that BTC is backed by anything. But are nothing else than a way to earn quick cash... and loosing them twice as fast!

Buckle up boys and girls, check your gear and strap your helmets on 

maybe he's finalizing a large deal and mtgoxUSD is basis, so he's pushing it down to get a better price. (or someone else for that matter)

I have also bullish outlook but a bit different: Wednesday will be the strongest day like last week. The low-volume calm period has been very long now and this usually means strong moves. I'm pretty sure they'll point upwards. Not quite as bullish as rpietila, though. 0.14 on monday is possible, maybe tuesday. 0.16 on wednesday possible. 0.20? probably not this week.

So I've been carefully going long(er) this weekend, buying the dips. As long as $0.12 isn't breached I consider lower price like now a buying opportunity.

Well he's in good company.
But we now know that he bought at least 13 bitcoins.  

rpietila panicked

Was that due to the last 5 posts here?