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I was reading someone else's post about "gambling" on a payment network for medical marijuana in Colorado, and that got me thinking about building a Bitcoin "debit" card system, which would allow users to pay merchants using a magnetic-stripe card and a PIN.
As for the technical back-end of payment processing, I envision one wallet being used to pass payments between various addresses within the same wallet. The wallet would be stored in a non-web accessible directory, and the wallet encryption passphrase could be randomized after every transaction.
The merchant interface would simply take the Bitcoin address encoded on the card, the PIN provided by the user, and verify that the address given has enough funds to perform the transfer. It would then transfer the bitcoins from the address given to the merchant's address. All users (merchants and debit card holders) would be able to access their account online to view balances and send money.
Thoughts? Is someone doing this already? The idea could definitely be co-opted by Bitpay; I just think it would be cool because it is based on infrastructure that already exists for merchants (magnetic swipe readers) and debit card holders (magnetic swipe cards).
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Yeah, except that Bitcoin cannot be shut down because it is decentralized - big difference from eGold.
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I might be tempted to buy bitcoins with my mad money (adult version of allowance  ) if the price keeps dropping! |
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I think it is a great idea - the more legitimate products and services are available for Bitcoin the better the system will be as a whole (Shameless Plug ) You can use JupeB to manage the sales and downloads as well. Mr. Coinman is already selling a template at JupeB so you can see how it would work. |
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That sounds great. I'll be sure to spread the word about JupeB!  Both features (email links & new file uploads when editing products) are active - thanks for the help Mr. Coinman! |
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Thanks Josh, I just created a little site with my template and added that to the product information. I also tweaked the code of my template a bit and wanted to re-upload it, but I couldn't find a way to do so, so I went ahead and just created a new product page with the updated file. Would it be possible to add a feature where sellers can push out updates for their digital goods on their product page? For those interested, you can check out the template in action here. Now that I think about it, yes, I can allow you to change the file for updates. I am currently adding functionality that allows you to email the Edit and Order form links to yourself. As soon as I am done with that, I will add the ability to change the file attached to the product. |
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Product listed! This looks like a really cool project, I'm looking forward to watching it grow. Edit: 0.1 BTC received, thanks JupeB! No problem, thanks for the props! Technically your website link should go to a URL that explains what the product is (or even better, a website built with the template you are selling that has an "Order This Template Now" link that goes back to http://jupeb.com/order/20/That way when they order it through JupeB, they get a link to download your file. Make sense? Is there a way that I can make that clear when adding a new product? |
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If you sell any type of downloadable product, including but not limited to: - eBooks
- Audio Courses
- Plugins
- Software
- Novels
- Mobile Wallpaper
- Website Templates
list your digital product for sale on JupeB - the Bitcoin digital download affiliate network today (August 19, 2012), and the first ten legit listings posted will get 0.1BTC paid to the address listed with their product! Not only will your product be listed for sale at JupeB, but affiliates can link to your product and earn commissions selling it to others. This thread will be updated when all ten payouts have been given away... |
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For the price of Bitcoin in USD to drop, someone had to dump a lot of Bitcoin on the market - what are the chances that it was BFL? They have suppliers, engineers, etc that need payment in government fiat, so when bills come due for their new project, they have to liquidate some of their Bitcoin holdings from the ASIC pre-order.
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BFL unloading BTC to pay pills?
They had to accumulate a ton of Bitcoin with the pre-orders for their new ASIC modules, and they must have to liquidate some of their Bitcoin holdings in order to pay their suppliers. It will be interesting to see how often this happens over the coming months.
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If you had to choose between remembering a username and password for a site, and having it just use URLs/Emails like craigslist, which would you prefer? Personally I prefer not having to remember a bunch of website passwords - between work and home I already have around 6-8 combinations that I have to remember. I built JupeB using the Craiglist-ish method over having usernames and passwords; instead it relies on having a separate URL/password combination for each product. Pros: No username/password to remember Launch products for sale much quicker Much more anonymous - no username/email stored in the database Cons: Separate URLs for each product, either bookmarked or saved in email. I can write the username/password functionality if needed; just wanted to get some feedback on your preferences. Thanks, Josh As a side note - who do I have to bribe around here to get some digital products posted for sale on JupeB? |
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3. Large Affiliate Market/Network
Just like the Bitcoin Ad network above we need a large affiliate Ad network like the likes of Commision junction, Maxbounty, Clickbank, etc. The network would be 100% Bitcoin based. The advertisers would pay in Bitccoin and publishers and affiliates would get paid in Bitcoins. The ad network should be a general purpose network offering a wide range of products and services for promotion.
I started on #3; you can check it out at JupeB.com. It doesn't have good looks or all of the bells and whistles of the big guys, but it can definitely get there. I'm in the process of bootstrapping it up now.. |
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Actually I would not take any money in such circumstances either. Lots of scams are based on somehow giving a person money and then emotionally assaulting him based on the fact that money were accepted. One of the rules of survival in prison, some army units etc... (dpending on country obviously) is to not owe anything to anyone. I'd say refusing gifts from strangers is a perfectly viable survival stratagem.
See one of the latest Burn Notice episodes (season6, ep 3-4 ish) for confirmation if you do not believe me.
Timeo Danaos et dona ferentes -> "Beware of Greeks bearing gifts"
Troyan horse attacks are possible and are are happening not only in Information Security context but in context of street level survival as well. What you see in that video is people intuitively defending themselves from a potential trojan horse attack.
If only bitcoiners were as streets smart as those random people in that video, Pirate ponzi would be done and dusted long ago...
That's awesome, using Burn Notice as a reference. |
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I used to read Slashdot every day in high school; now I'm lucky to visit it twice a year. That, coupled with better server resources and more bandwidth probably killed the Slashdot effect.
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Information sent; looking forward to your feedback Psy.
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----==== Edit ====----- I actually opened JupeB up to everyone - so check it out and let me know your thoughts! =================== I have coded a digital product affiliate network, which is somewhat like a skeleton of Clickbank for selling digital downloads with affiliate commissions, and I'm looking for 25-50 people to log into the site and start using it to get some thoughts and feedback. It is currently a bare-bones system; but it is fully-functional from start to finish with the testing I've done. It needs a lot of bootstrap, nice features, and a ton of lipstick (currently in pig form) which I'm planning on doing in the coming weeks. So, who wants to be the first Beta-tester guinea pigs for JupeB? Ideally I would prefer people that either have something to sell, or are interested in selling others' products as an affiliate, so I can get feedback from both sides. The first 25-50 people to post a request on this thread will be given the username/password to access the site.   |
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I think mirelo's argumentis absolutely right - bitcoins will be lost; people die and don't pass on their wallets, move on to other monetary systems, etc. If I walk away now, .018ish bitcoins will be lost from the system forever. Laugh now, but if 20 years from now that is the equivalent of $100000, not so funny.
A lot of people on these forums like to dismiss arguments like these because they are "so far in the future that it will never impact us" rather than evaluating them for the long-term viability of Bitcoin. It's somewhat disappointing, especially when at some point in the future, it will become a real problem. Having a billion people trying to trade in Bitcoin at 8 decimal places .000000010 won't work.
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Yep, it's crap. (Woot, now I'm one post closer to "big boii"!)
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I don't think there will be a problem specifically with mindset if employee given an option to receive "paycheck" in either bitcoins or fiat, or both. They can figure out for themselves what's more beneficial to them.
The problem with payroll may be taxes that employer deducts from "paycheck". Lets say at a time of payroll bitcoins were worth $5/BTC. Employee keeps bitcoins for savings. Then after a while lets say bitcoins are worth $100/BTC and an employee decides to convert his/her saved bitcoins into fiat. He paid taxes when he received payroll when they were $5/BTC, does this employee don't pay any more taxes or does he have to pay additional taxes for the difference of $95 in value? This may potentially be nightmare situation for accounting payroll taxes when dealing with bitcoin payroll payments.
Are there any cases of people receiving payroll in precious metals and how was appreciation/depreciation handled once converted into fiat? If there are then it may be applied to Bitcoins as well.
Couldn't you just convert at the time of payroll? Let's say federal taxes are 15%, and they get paid 100 bitcoin. You could take 15 bitcoin, convert it to dollars at the market rate, and pay federal taxes. I think at that point it's done; if the money appreciates or depreciates after that, it doesn't matter. Any accountants that can shed light on the matter? |
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I was thinking about how to set up a system for payroll that would allow companies to pay their employees in Bitcoin, but would convert the necessary taxes to dollars for the government's pound of flesh. That got me thinking about how Bitcoin would look to the employee, especially with regard to deflation.
I get deflation, over time the Bitcoins I have become more and more valuable, ie. I am able to convert a single bitcoin into more and more products and services. The flip-side of that? The average employee won't get it. We've been conditioned our entire lives that we get more and more money in our paycheck, not less and less. In order for the company to stay solvent, they will have to pay less and less bitcoin over time as they become more valuable.
Could you imagine sitting down with an employee and telling them they are an "A player" and they are only getting 3% less bitcoin instead of 5%? As much as I love the idea of Bitcoin, it is a tall order to change the mentality of the entire world from an "inflationary" mindset to a "deflationary" mindset, and for that reason, Bitcoin will have a tough go of it.
Bitcoin will remain inflationary (measured by money supply) for at least the next few decades. This is plenty of time to swich mindsets. How do we begin switching that mindset? By having more companies using BTC for payroll? |
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