Bitcoin Forum

http://www.google.com/wallet/
So Google wallet is finally launching. Obviously it's still linked to flawed currencies and banking systems, but it could be a push for online and mobile payments, allowing other options like Bitcoin to ride the wave.

What do you think? Are there any projects to implement Bitcoin on Google wallet? how about exchanges from bitcoin to Google's "prepaid" card?

http://www.google.com/wallet/images/1.2_payment.png

You do realize that Google Wallet is a huge data mining operation, don't you?
That completely defeats the purpose of Bitcoin.

NFC is good for Bitcoin ;)

Google Wallet is good I'd say as it increases the trust in technologies like NFC and electronic payments over the counter. But since it relies on traditional currencies and is completely centralized it leaves room for Bitcoin to evolve. I just hope not too many people will abandon Bitcoin in favor of Google Wallet.

Only one aspect of it. If there were a bank that both accepted bitcoin deposits and issued a credit card compatible with Google wallet, it would help bootstrap bitcoin usage.

Perhaps if merchants kept seeing Bitcoin Bank on their statements, they might learn that accepting bitcoin directly has advantages.

I wouldn't be here if I only cared about mobile payments.

Surely you jest.  The purpose of Bitcoin is decentralization, where as Google Wallet is about centralization and tracking online transactions.  Anyone who has read Bilderberg's agenda for 2011/2012 has seen the push towards a cashless society and monitoring people through the internet.

Bitcoin -> ??? -> Google Wallet -> Profit!

Google is creating a wallet and payment service, not a currency. Thus their Wallet and Bitcoin are not mutually exclusive, and I'd expect the Google Wallet to support Bitcoin at some point.

Bitcoin and Facebook Credits are at odds.
Bitcoin and Google Wallet are not at odds. 

(A keen observer may realize that this gives Google incentive to adopt/support Bitcoin in some manner, in order to undermine FB, for they are now in direct competition with each other since Google Plus launched).

They will also develop an app for the Apple AppStore to use your Google Wallet on iOS devices.  And when Apple denies it, because it competes with Apple's digital wallet, Google will sue them again, just like they did when Apple denied Google Voice.

And then the Apple AppStore will be open for bitcoin wallets :)

Anything with the Mastercard logo on it means it's deeply tied to the current banking system mess. The Banks will pay big money to silence alternative currencies. They do print that money afterall.

Remember, currently Mastercard controls all the POS systems that accept Google Wallet. Google doesn't even get a say in the matter due to their subordinate position. Their logo doesn't even appear anywhere on the sales terminal.

this is the enemy:
<iframe width="640" height="390" src="http://www.youtube.com/embed/DsaJMhcLm_A" frameborder="0" allowfullscreen></iframe>

slick mofo-model zombies paying their anti-depressant, taxi and overpriced clothes
willingly giving premium and data to google citi and mastercard

Rob and John are total toolbags.  I think people need to understand that anytime they want more convenience they have to give up some of their privacy/liberties.  At some point you need to say enough is enough, I don't need more convenience at the expense of my every move and purchase being tracked, logged, and sold to corporations to develop their advertising focus.

Just wait until you see what they are doing next ...
 Movenbank - Banking w/ their KYC based on mandatory Twitter, Facebook and Mobile w/ NFC
 - http://www.banking4tomorrow.com/2011/09/the-reboot-of-banking-now-the-work-starts

 SynerScope - Link your bank transactions with every other transaction about you.
  "Connecting the dots" with web traffic, payment transactions, mobile call records, IRC logs, etc.
 - http://synerscope.com/products
 

Thanks for the interesting links, bank4tomorrow is total NWO banking cartel bullshit.  This cashless society is being forced on us more and more now.  Have you also noticed that more and more blogs are using mandatory Facebook login so you can't even anonymously post comments on articles?  The corporations and government want to track our every move, the Bilderberg agenda is coming to fruition starting with Facebook and Google.  I hope Anon takes them down with #RefRef.....  Also this cashless society is being rammed through more quickly, but I don't think it will be that well accepted before the next global monetary reset when they want to force it on people.

So far it only works with 1 phone, 1 credit card (plus the fillable Google card) and only at the newest NFC readers in select locations.  Until Google can put updated NFC readers in every single spot there is a regular magnetic CC reader, and until they get all the credit/debit cards added to the app, it is just a dream.

Sprint Adds Google Wallet Into New NFC Capable Phones
http://www.darknet.org.uk/2012/01/sprint-adds-google-wallet-into-new-nfc-capable-phones/
 (http://www.darknet.org.uk/2012/01/sprint-adds-google-wallet-into-new-nfc-capable-phones/)

"Google pushes its’ mobile payment solution ‘Wallet’ onto two new NFC capable phones – the Galaxy Nexus & LG Viper."

Since I have tried both a bank payment app on an NFC-enabled phone and a QRcode-enabled bitcoin wallet, I would go with bitcoin + QR code on smart phones. The user experience is so much better.

The whole point of NFC is to use the phone, battery off, (when QR code cannot offer the same functionnality):  for public transportation applications or for small payments when the app does not require a personal code. The cost/benefit analysis for handset manufacturers is not in favor of NFC because simple QR code (or other optical codes) is sufficient in most cases.
I fail to see whats so great for bitcoin with NFC ?

I suggest you immediately forward all your private keys to the NSA.

Working the Bit-Pay booth at CES this last week, Stephen talked with someone from [redacted] large retailer who just got done testing Google wallet in their lab.. They said they were not too excited about it costing $500 per POS for proprietary hardware and then a 5% transaction fee for the privilege of using it and still being stuck with the fraud and privacy issues.

This seems to be an obviously large barrier to overcome in offline transactions.

But how does the online functionality compare?

Obviously it is akin to the credit card system is accompanied by the usual inquisition for personal data.  However it also seems like there is a significant amount of online retailers who have signed on to accept this payment method. This creates something that bitcoin does not have, a significant marketplace for the use of this payment method.

Also this is not a new threat, as this has been anticipated for a while, but now that this is released evaluating its direct impact on current, future, and potential bitcoin use may be easier to analyze.

Key point:  This is not new way of transacting online.  The only key benefit that google offers users online is that people may have to manage fewer passwords. This is only offered in return for placing your personal information in yet another location online.

IMO I cant really see them grabbing a lot of market share from current consumers online.  If you are already purchasing online, from ebay or amazon or any other major online retailer, that means your personal information, credit card, and user information already exists at these sites.If the primary target market is current online shoppers, I dont see them making a successful case for this.

The other target market obviously is brick and mortar retailers. This is a very difficult market to penetrate as well.  Leaving aside the barrier to entries mentioned above, you are tying the google wallet to a credit card you already have. You are asking people to put their personal information at risk to be able to use their phone to pay, rather than the card that is sitting in the other pocket.

Its hard to see what their aim is, other that merely trying to position their brand in the marketplace in hopes they can leverage that later in bringing a better product to market. A sufficient marketing campaign could establish that irregardless of the performance of the product in the marketplace.  However all of this I would see as being very capital intensive, and it would be very hard to make the case for any significant returns on this investment.  Especially over the short to medium term.

Most likely this is either a loss leader, or a part of some larger strategic objective.  At this point however it doesn't directly challenge the bitcoin technology, although it may position google to do so at a later date.

Any thoughts? Am I wrong?  What did I miss?