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Damn, there are hardly any Bitcoin domain names available.
Every idea I come up with I do a check on bitcoin domain names that would go along with it and even after several different combinations there are no domains available.
Some of them, I go to the page and 95% of those are just being held in reserve.
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So..you are exchanging currency for "Davinci Cash" which you can then only us at "select merchants" which then can convert to Bitcoins or back into cash...
Why not just exchange your currency for Bitcoins which you can then only use at select merchants which then can either stay as Bitcoins or converted into cash?
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Add pictures of beautiful women in various stages of undress.
+1 Also, have a story about flying elves. That would make it pretty interesting. |
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I'm a Bitcoin fetishist, and even I wouldn't bother to use Bitcoin at a physical POS like this. What's the advantage over using a legacy currency? I see plenty of reasons. Compared to credit cards it has lower fees and more anonymity. Everyone I've seen accepting BTC at physical shops today convert their USD selling price--which already covers transaction fees for legacy payment methods--to BTC and exchanges the BTC to USD instantly after the sell. You pay the same, the merchant loses on the exchange commission and gets extra paperwork for the USD withdrawal. I could argue that carrying a cell phone and meeting up in person doesn't help on anonymity either, but that'd be silly as we all do it anyway.  I offer 10% discount for using Bitcoin, partly to get people interested in it and partly because of the benefits of Bitcoin over credit cards. The shop has offered 5% off for cash since we opened. Accepting credit cards adds quite a bit to the overhead. The less they are used the better. |
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That video is longer than it should be, which may leave the wrong impression. The bar girl doesn't need to touch the server selection and the other one didn't have to leave a tip.
In full, it took them 50 seconds with talking through the procedure and adding a tip. Compare this to a credit card transaction. Especially one that requires you give the server your card, they go back (having full access to make a copy) and run it, then come back with your receipt which you then add the tip and sign the receipt, then give it back to them so that they can go back and enter in the tip. Or heaven forbid it is one of those credit card machines that has to dial in. |
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So, that machine on the picture doesn't have anything to do with Bitcoin, right? As far as I know, you only need a cellphone with Internet... or am I wrong?
Correct. The machine is just the cash register that is in the shop. All that is needed for a merchant is a cell phone with Internet. Which is probably 80+% of businesses. |
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I'm a Bitcoin fetishist, and even I wouldn't bother to use Bitcoin at a physical POS like this. What's the advantage over using a legacy currency?
The transaction is easier. You do not need to carry around your credit card (you do not even need your wallet if you have no need for ID). Everyone carries their cell phones with them, even on the beach. You could have POS sales anywhere that you have cell service (beach, farmer's market, craigslist transaction, etc.) No handing your personal information and credit card info to a complete stranger. Lower cost of goods due to lower transaction fees. |
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That looks sharp dude! I have always thought that the ability to pay via cellphone would be an important step in the bitcoin economy. Not only is it very handy for payments like the one in your video, imagine how the remittance market for foreign workers would adopt this. An easy wallet app may start millions of BTC/year flowing.
Not my video, the hard working folks at bit-pay are doing wonders for Bitcoin. |
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Neat idea, but I don't see it going anywhere until it's integrated with their cash registers.
It is easier than the cash register. My wife has it set up in her store. She uses the cash register to get the price (actually she usually just uses a calculator because the cash register is too complicated for her), then puts the total into her phone app. And that is it. The buyer pays and she gets the Bitcoins (or gets paid in dollars if she wants). |
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I thought it took about 10 minutes to fully verify a bitcoin transaction under normal conditions. Are these transfers mediated through some kind of escrow service?
Why it is very unlikely for someone to do a double spend at a POS purchase: http://bitcoin.stackexchange.com/questions/1184/what-can-be-done-to-mitigate-the-risk-of-a-finney-attack/1189#1189The merchant would also get a notice if a double spend did occur, which would likely be before the person could get out of the parking lot. And it takes a lot of resources for a small purchase. Purchasing a car or something for several thousand dollars might require them staying an extra 10 minutes to verify the transaction. |
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This system is very easy to use. It is implemented at my wife's boutique in Tarpon Springs, FL. https://bitcointalk.org/index.php?topic=44468.0Hopefully I can get enough merchants interested to the point that you can take a Bitcoin vacation in Tarpon Springs. |
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I could see some future services that use Bitcoin in the background but call the service something completely different.
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A date would be good though for collector's value sake.
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People accepting Bitcoins would also be handy for the way my wife sometimes sells bikinis.
She will take some of her bikinis with her when she goes to the beach. She usually gets a few people there who want to buy but they either do not have cash or they only have a credit card. Right now she takes her laptop with a credit card reader and a mobile wifi card to run their card.
It would be so easy if both parties could just pull out their cell phones (which everyone has at the beach) and pay.
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The 'See prices in Bitcoin' button doesn't seem to do anything other than bring you back to the mainpage.
Or I'm doing something wrong...
Yes, I tried to implement that a few weeks ago but ran into some quirks with Wordpress that make it difficult to store session information. The page still needs some tweaking. Accepting Bitcoins in person has been a whole lot easier than doing it online ironically. |
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Please a briefing on how a transaction goes down in your store. For example, I was looking at getting this for myself  , and I'm coming in, how should I be ready to spend with Bitcoin? App on phone necessary? Edit: I thought this was for in store. Or is it? Can it be? You only need a Bitcoin app on your phone. Something like https://market.android.com/details?id=com.mtgoxlive.trader&hl=enThat bikini is available in the store. Just take it up to the counter and my wife will put the price into her merchant app which will convert the dollar total to current BTC price and provide an address and QR code. You scan the QR code with your app and click "send bitcoins". And that is it. My wife will get a confirmation within a few seconds and you are all set. |
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