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That's perfect. You can embed the payment key and the change address into a single QR code.
"3.95 BTC please." Hand them a 5 BTC note. They scan it. 10 seconds later your phone chirps to let you know the 1.05 BTC change was just sent with no obvious double-spends.
That's faster and easier than waiting for them to count out fiat change.
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which is really, really hard (but not completely impossible) to fake I'm not aware of any way to fake a SHA256 proof of work with less work than simply brute forcing the hash. In essence, faking it is a proof of work in itself. On the other hand proof of stake is really only a proof of either stake or absurdly good luck. Assuming the crypto isn't broken, though, it's a proof for any practical purpose. |
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"proof of stake".
Just those words and I've got it. This might be a reasonable solution to my fears about long term sustainability of Bitcoin. It creates a dozen new problems too, but you've got my gears turning. Thanks. |
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This is elegant and easy. I like it.
The general process can also be done electronically - you can have your phone put up a QR code that provides keys for a few addresses that total the correct amount. It recreates all the phone security problems, but adds some convenience.
I'd love to see this process become the default. It would work well regardless of if the buyer wants to use phones or paper.
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The purpose is to protect against double-spend attacks. Do you know a better way?
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When you use it online it's run as a credit card with the usual credit card fees (2% or so).
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Two great tastes that taste great together.
Excellent work, sir.
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Not directly. It's computed as a conversion factor times difficulty divided by time between blocks. There's no single hashrate measure since the window you use to estimate time between blocks is arbitrary.
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Just run it with -rescan .  |
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It can't just use the balance of an address. It has to name specific inputs. So if you received .01 BTC 50 times, and you want to spend .25 BTC, it will have to specifically call out 25 of those transactions as inputs, then one or two outputs (depending if change is required).
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Save what it gives you as a .csv then open/import it in Excel.
edit: Although Excel may puke if you give it that much data. I'm not sure what the row limit is these days.
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Why would I be disillusioned, though? Even if you're going full-circuit with every transaction, the fees for dealing with Bitcoin are much lower than Paypal or credit cards.
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Accepting credit cards exposes you to chargeback fraud. It's the same problem as PayPal. A few places will accept cards in person like Memory Dealers, but if you did it online you'll be scammed to death.
That's why all the exchanges use irrevocable funds of one kind or another - ACH, wire transfers, cash deposits, etc.
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Unfortunately no. Spinner uses BCCAPI to talk to a server. If you made a BCCAPI server that then talked to your bitcoind it could work, but I have no idea if there's any support for that in spinner.
You could easily have multiple wallets though. Have a spinner wallet (or bitcoin-qt) for daily use and a separate one for mining. Create a short script to keep sending all your mining revenues to the spinner wallet, and you're set.
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QT has proven unstable in a mining situation, which is the probable reason for this thread.
My solution has been to learn to manipulate my wallet while running bitcoind. White bitcoin-qt isn't an option, there are other frontends that can connect to a bitcoind server: https://en.bitcoin.it/wiki/Category:Frontends |
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The regular bitcoin-qt can't do it as far as I know. Just stop bitcoind, then run "bitcoin-qt -server". It will start the QT gui and -server makes it also act as a bitcoind at the same time.
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