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Yes! My main reason for using bitcoin is to avoid banks - I want control of my money. Forget the banks.
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Short answer: 1. Download and install Dark Exchange and its dependencies: https://github.com/macourtney/Dark-Exchange/wiki/Getting-started2. Start Dark Exchange. 3. Create a new user. 4. Log in as the new user. 5. Post offers, search for offers, see what other users are offering, make trades, etc... It works sort of like bitcoin-otc, but over a decentralized network. All of your offers are posted on your local computer, and searchable by everyone else on the network. When you want to trade, Dark Exchange will walk you through the process. How do users deal with the trust issue? Reputations, etc.? |
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Use a real decentralized exchange: https://github.com/macourtney/Dark-Exchange Of course, it still needs work. However, it is a start, and AFAIK, the only attempt at such an exchange so far. With completely open code and control over your own money, this kind of decentralized exchange should avoid causing any major damage to the bitcoin economy. Unlike certain other exchanges. For the non-techie, can you give us an idea how this would work? EDIT: I'm reading the User's Guide here: https://github.com/macourtney/Dark-Exchange/wiki/Users-guide |
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With the recent financial losses suffered by some at the hands of exchanges like Bitomat.pl now is a good time to revisit the importance of decentralizing exchanges. I'm posting some random thoughts and suggestions below and I invite anyone to add their suggestions to this thread as well. The way I see it, here are a few ideas: 1. Develop your local network of trusted trading partners. 2. Introduce friends to bitcoin by sending them to sites like http://www.BitcoinTraining.com (I put together this site to make it easier for me to use personally - anyone else is free to use it and offer improvements) 3. As you introduce those who are already in your trusted network a "ready exchange" will develop - giving you local liquidity for going in to - and out of - bitcoin 4. If you have a business, advertise your willingness to accept bitcoin. Offer local exchanges. 5. Create a local bitcoin "MeetUp" group [ http://www.meetup.com] or join an existing one - make friends, exchange contact info, and begin providing liquidity to each other. Meet for coffee, shoot the bull, and make exchanges. 6. Take advantage of sites like http://www.BTCNearMe.com, http://www.TradeBitcoins.com, and http://www.BitcoinLocator.com to meet other bitcoin users in your area. 7. Create a local YahooGroup or email list to stay in touch and broadcast your desire to buy or sell bitcoin By developing these trusted, local networks you reduce your dependence on the major exchanges and you avoid the hassles and risk of leaving money on an exchange. Any other ideas? |
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Off the shelf software - nothing wrong with that. Much easier than creating it from scratch. Just need to make sure it's secure for the purpose it is used for. |
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The Government generates no wealth whatsoever.
It is funded 100% through taxation - either direct taxation of the wealth of individuals or the indirect taxation of the wealth of individuals by the taxation of private sector businesses - which increases the price individuals have to pay for goods and services. In this specific case, the UK energy suppliers are now charging everyone more for the energy they use to cover the costs of the tariffs which the UK Government have required they pay - without such tariffs everyone would be paying less for the energy they use.
Anything you get "free" from the government has been paid for through taxation of individuals.
Thus, this is merely a tax rebate for those fortunate enough to be in the position to install solar power generation equipment - owners of land - specifically those with buildings that have south facing roofs.
So true... |
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Yes, it was super-easy to set up bit-pay for our site!
Trader Steve
Are you going to implement this on http://GoldStarBullion.com as well? I'm working on the mechanics of the automatic conversions since the conversion goes from gold to dollars to bitcoin. Don't know how soon this we be available though. |
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Looking good but you have typo... |
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Mike,
I tried testing your service and came up with error messages when it tried to generate an address for me to send a payment to. Any idea why? The amount attempted was 1 BTC.
Dunno, Steve. Which service? What was the error message? Right now, deposit address generation is a one-shot, all-or-nothing deal. If the wallet server isn't reachable from the app.bitlaundry.com app for a few seconds, you'll get: <p>Sorry, but something has gone wrong in creating a new Bitcoin address for you.</p>
<p>Please try again in a little while, and if the problem persists contact the administrator.</p>
Thanks! Yes, that was the error message. It was received when I tried using both services. Ah. There was a network outage between about twenty and twelve hours ago which put the wallet server offline. Eventually the monitoring alarms woke me  |
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Mike,
I tried testing your service and came up with error messages when it tried to generate an address for me to send a payment to. Any idea why? The amount attempted was 1 BTC.
Dunno, Steve. Which service? What was the error message? Right now, deposit address generation is a one-shot, all-or-nothing deal. If the wallet server isn't reachable from the app.bitlaundry.com app for a few seconds, you'll get: <p>Sorry, but something has gone wrong in creating a new Bitcoin address for you.</p>
<p>Please try again in a little while, and if the problem persists contact the administrator.</p>
Yes, that was the error message. It was received when I tried using both services. |
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Nice idea! It seems to me, that this would be better as a separate site, as it is targeting a different user group with a different set of requirements, as you are pointing out. As such, anyone is free to to start such a site! But you might be interested to hear, that I'm working on a similar idea, however not web-based, but as a standalone tool.
Sounds intriguing. I love the simplicity of InstaWallet. Anything you can do to make it easy for small retail businesses would be great. |
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I like this idea because it makes it easy for small retail establishments to set up and it makes it easy for the employee to quickly process the transaction. The only hiccup is forcing the employee to manually make the conversion for each transaction. Perhaps there is a way to automate this too.
I just had an idea: The InstaWallet can have a simple form field calculator where the employee can enter the dollar total and click "convert". The calculator would make the conversion based upon the latest exchange rate and the BTC amount would be generated and displayed. |
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Jav,
I have an idea to make InstaWallet easier for small retail businesses. I call it the "InstaWallet Cash Register". Here's how it would work:
You make a couple, simple modifications to your wallet page so that it shows 1.) the current exchange rate, and 2.) the last three transactions/payments received. Example Screen info:
Recent Payments Received:
qweru454834454jdkdjv8cjkad - 0.501 BTC
kdyylsldjfjghe884fi33l4kngn&4 - 0.735 BTC
ietmvidiiww489yv94nkdnviind9 - 2.325 BTC
Wallet Balance: 3.561 BTC
Here is the reasoning and set-up for the business owner:
The employee running the cash register needs a quick and easy way to accept payment from bitcoin users. Ahead of time, the business owner generates an InstaWallet page on the cash register computer and then creates a bookmark or hotlink to the page. Next, a QR code is generated, printed, and posted on the front of the cash register. Now the business is ready.
Example Transaction:
1. Customer walks up and scans the QR code while placing his order, he also opens up his own bookmarked InstaWallet on his smart phone and tells the employee that he would like to pay with bitcoin
2. Employee rings up the total and clicks on the InstaWallet hotlink
3. Employee manually converts the order total to BTC using the displayed exchange rate and tells the customer his total (perhaps a calculator can be provided right on the wallet screen? Or maybe this conversion could be automated some other way.)
4. Customer makes the payment (using the "green" option if he wants to)
5. Payment pops up on the business cash register InstaWallet page - this is easy to see and verify by the employee because it is the latest transaction of the last three transactions and the total received matches the order total.
6. Employee rings up the transaction as cash received and the deal is done.
7. At the end of the day this cash register wallet is emptied by sending the balance to the business owner's private wallet.
8. Each cash register can have its' own unique InstaWallet page bookmarked
Additional Comments:
I only suggest the InstaWallet listing the last 3 transactions for simplicity. It can easily be any number of recent transactions and perhaps this can be as simple as giving the operator the option to click and select the number of recent transactions to be displayed.
If you wanted, you could even do the same and list the most recent payments sent. Recent payments received and sent can be set up as a scrolling feature if you wanted.
To generate revenue you could charge a flat transaction fee like they do for debit cards. Something like the BTC equivalent of 25 cents per transaction.
I like this idea because it makes it easy for small retail establishments to set up and it makes it easy for the employee to quickly process the transaction. The only hiccup is forcing the employee to manually make the conversion for each transaction. Perhaps there is a way to automate this too.
Ideas anyone? I think starting with just displaying the last three transactions and showing the current exchange rate would make this easy enough for many business owners to set up and begin using right away. I came up with this idea because I tried to visualize how I would help my favorite restaurant to begin accepting bitcoin.
Thanks,
Trader Steve
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Mike,
I tried testing your service and came up with error messages when it tried to generate an address for me to send a payment to. Any idea why? The amount attempted was 1 BTC.
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gorkalitus, You've inspired me to create an auction-type format for exchanging bitcoin: http://forum.bitcoin.org/index.php?topic=32672.0I'm excited to see lots of exchanges popping up because it helps to decentralize the exchange process. The idea to make "everyone an exchanger" makes it even better. Thanks, Trader Steve |
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