Bitcoin Forum

hey there all the developers....today moring a got a nice idea about what if we can buy bitcoins with sms...I mean with phone balance.....just think about it....it can make the bitcoin economy soooo stable if we can buy or sell bitcoins with sms..

the ideia is not new . you can buy bitcoins by sms in diferent country . the only problem is the fees from mobile provider  is to big  , and in final you can pay 50% TO 100% more expensive .

Why don't you make this then?

obviously a lot of scope for this. But the price would be high, and they would need a net connection to receive and check their balances.

i think i've heard of something like this being developed. it was either this, or a way to send bitcoin via sms.  :D not sure which of the two though.

There were several people in the past which tried to establish such a business but they never got success as they've got such high fees which nobody is willing to pay :)

I think a computer based system for buying Bitcoin is more reliable than an app for a cell-phone.

I was also looking into to this in past and found a major issue which unfortunately isn't in anyone's power to resolve.

In my country there even has been a service like this, the fees were not ridiculous (10% markup if I remember right) but the worst thing is unbelievably high number of reversed transactions. It's very easy for anyone to buy bitcoin over SMS and then call his provider and cancel the transaction. There's unfortunately no way to protect against this since all those fiat transactions are managed by the cellular providers in-house and only then managed by some payment gateway service...

This is one of many things that need much more time and better general knowledge about crypto to be feasible.

Why?  Bitcoin should be able to span to all digital mediums... there are African communities that have all of their currency on their mobile phones.

I think this is a feasible idea - text your deposit address and amount to a number.  They then charge your cell phone bill (just like those text-to-donate commercials).  The biggest obstacle is phone carriers and people paying their phone bills.

I just wanna make a system which is acessable for everyone....coz there are lot of peoples out there who still can't buy bitcoins....they have the material to sell it but due to age problem or any other problem they have no doconents to even afford a creadit card..

so i was just saying if every one can buy bitcoins without any risk and without any scam then a lot of people will access it day by day...which will incress the price of bitcoin :)

Mobile operators charge minimum 60% fee so that would make price too high. I think there was sms service for buying bitcoins before but price was just redicoulous.