Thanks for the feedback - some great thoughts here.


When I was thinking about this, I was thinking along the lines of those not wanting to delve into smartphones, computers too much and learn about Bitcoin wallets. i.e some of the older generation that may want to just pop down the shops with there BTC card to get some milk.

The "rest of us" are happy to use Bitcoin as-is. There's no problem there.

Interesting points about the security too - clearly the "PIN" option may not be viable.


A loyalty card of sorts would just add an extra step in the middle. I was hoping to figure out a way of keeping this "purely Bitcoin", keeping the transaction between you and the shop.

Maybe something linked to an online wallet like Blockchain.info, that you can access at the shop via QR code (for username) and PIN (for the password). But even then you're relying on leaving private keys with a 3rd party.


Hmmm. Back to the drawing board I think.....

Because you can't spend any BTC without the Private Key for the Public Address they're held in.

This came to mind after seeing Max Keiser mentioning that Scotland, if it did become independent, should embrace Bitcoin as its currency;

This obviously is tongue-in-cheek, but it got me thinking: For Bitcoin to become adopted by the masses, it would need to be easy to use in brick-and-mortar shops and act like current credit/debit cards.

Having your private key printed as a QR Code on a credit card-like piece of plastic is obviously very risky – as soon as someone steals this, kiss goodbye to your finances – but an incomplete private key, paired with a manual PIN code-like process could work.

What do you think of the following process when buying something at the supermarket?
1)   The cashier completes the scanning of the goods as normal, marking the purchase as a Bitcoin purchase (working much like current Point Of Sales (POS) systems, with the amount and recipient entered in).
2)   The card reader asks to see your QR code (which is your Private Key minus the last 6 characters).
3)   The card reader then asks you to punch in these last 6 characters to complete the key.
4)   The POS checks available funds in the associated Public Address and initiates the transfer.
5)   Nothing about the Private key is recorded.
6)   You get a receipt with the transaction address/code.

Software at home, or local services, could manage addresses and printing of these key cards. If a card is lost or stolen, the user could transfer the BTC to a new address using said software (which keeps track of the Private Key, much like a wallet) or via a backup card kept safe.

- Does this sound like a viable solution for “the masses” to adopt Bitcoin for day-to-day use?
- Would holding back the last 6 or so characters be enough to secure the Private Key?
- Could replacing some of the numeric characters with underscores be a better way of using a “PIN” as security? i.e. the code 5KQo_nY_PtyHG_K_BosGHkw_pdkRoaBHFCa_cGmyWWjJLq32sPg would have the PIN 382329
- The POS would need to be set up to return the "change" of the transaction to the same spending address associated with the card.

Thoughts?

Mah, the site is too nice to use. I may just stick around for a bit. I'm such a wimp.



Have you created a support ticket with them? I have no idea what's going on behind the scenes, but they may not know about it without a ticket right now.

Indeed I probably could (although one can go mad trying to time the market right).

I'm in this for the long-haul. Hoping the pumpers and dumpers will disappear soon, so the rest of us can start actually using bitcoin the way it was intended.

Morning all.

My money finally appeared in my account this morning too.

Phew! what a load off!

I'll have to ask Transferwise to stand-down now on my claim.

I hope the rest of you start seeing your deposits soon 

Well, another day and not a peep on my account.

"Please be patient" just isn't enough to ease my worry anymore.

If Bitstamp had posted a note on their site, or even sent out a mass email to all clients with a progress report of number of outstanding deposits vs. completed ones, it would have been a sign that they're dealing with it seriously. A daily update like that would only take them minutes to put together.

Those with more recent deposits are getting to enjoy the cheaper bitcoin prices, while the cries of the rest of us are going ignored.

I've asked TransferWise to help me process a claim against Bitstamp for my deposit now and I will post anything helpful here for those interested.

As soon as I have my money back, I'll be taking my business elsewhere.

Thanks oda.krell.

I think you may have swayed my decision of whether or not to wait any longer - newer deposits going through quicker than week-old ones? That's just not on.

Salt, meet wound.

Also - A simple, direct update posted on their site would save a lot of this forum back-at-forth. Those "news" postings are far to vague to settle clients when it comes to missing finances.


I'm sure Transferwise could help with this, just as your local bank would with a wire transfer. But remember that Transferwise have fulfilled their part of the transfer perfectly. I imagine they're wrongly getting it in the neck about this from a few confused customers.

They've provided me the bank confirmation (with Bitstamp's bank's confirmation ref.) as a PDF, which I've attached to my Bitstamp support ticket.

Hopefully this should help smooth things along. I'm going to give them another day, now that they have all the documents and information they need from me. After that I'll have to start proceedings to try and get my money back.

I really really don't want to do that - Bitstamp is a gorgeous site to use, and I'm sure they're trying their best to get everything caught up. But the vague, sporadic updates on forums, coupled with the lack of sufficient notices on their site, is forcing my hand. 

I'm sorry Hazek, but your Team is messing with people's money - communication has to be ample and clear.

Mine's still pending.

Trying to decide whether to wait it out or start progressing a "refund".

Wahey! glad to see they're getting through the deposits    Thanks for updating us SirWilliam.


All this reminds me of a friends' dilemma coming over from the States a while back;

He'd booked a very cheap flight, ordered the taxi with plenty of time to get to the airport, but events conspired against him;
On the way to the airport there were roadworks and an accident, causing a diversion and nose-to-tail traffic. If that wasn't frustrating enough, the taxi broke down and they couldn't get him to the airport on time!
He arrived just late enough to see his flight disappearing through the window. He had to book another flight, at a much higher price.

I'm guessing we all feel a bit like him at the moment, stuck in the Bitstamp taxi, waiting to get to the airport.

So now the question remains: When I do get to the airport, do I buy the more expensive ticket, as I watch the cheap Bitcoin plane disappear into the distance (and just enjoy the next ride), or sit and wait in the lobby for a cheaper ticket to come along?

Hello Hazek,

I too thank you for getting back to us. It's a huge relief to see that you guys are still hearing our cries!

For those of us sure that our deposits aren't missing any information - are the delays because of failed automation somewhere in the chain?

I'll attach my confirmations to my support ticket, just in case anyway.

Can I suggest that you post something similar to your reply as another news posting on your site? I'm sure there are other users out there in this situation, not familiar with this forum, that are panicking after the latest posting about the bank changes. Your linked article does help understand the chaos you're currently dealing with, but this was before the bank changes and it looks like you've all gone radio-silent since then, possible causing a few clients to start claiming the deposits back through their banks.

Thanks again. I hope you're able to put your feet up once things settle down.

Mine included the reference. As did my other deposits, which have always come through quick.

If you feel the need to, TransferWise can provide you with the "official" proof of transfer and receipt needed for any legal claims. Just contact their support team - who have always been extremely professional and helpful for me.

I have no idea, but I've asked for proof of sending and proof that their bank acknowledged receipt (from my end), just in case it comes to that.

All,

I've started a post to hopefully consolidate reports of this growing delay in deposits.

https://bitcointalk.org/index.php?topic=174754.0

Please post your deposit times there and make sure you post back once your case is resolved.

It should bring some reassurance if we start seeing these being resolved soon.

There seems to be a growing number of Bitstamp SEPA deposits not appearing since the coin "crash" and their Bank details changed.

They have not acknowledged this on their site and understandably clients are getting worried (myself included!)  

I was think that anyone suffering the same fate should maybe post here with their date of transfer, so we can get an idea of how long they are taking (if at all).

Maybe someone from Bitstamp browsing this site will see the consolidated list and take note  

Please make sure you have created a support ticket via their site for it first though.


I'll start;

Deposit sent 10am on the Wednesday 10th April.



Please post back here if/when the deposit arrives.

I too sent mine the day before the bank change. All my deposits with them always went through the same day, except this time.

I'm also still waiting.

Have you raised a support ticket with them?

I'm adding myself to this growing list - SEPA transfer late with a non-answer response from support yesterday.

Have raised another ticket but not heard anything.

Is this anything to worry about? Can they actually make deposits "disappear"?!

Thanks Riddar,

I think I get charged about £22 for a bank wire from my bank, which tips the decision somewhat.

So once verified and the wire has gone through, how much do OKpay take off the top? The site suggests £4 but the wording is a little vague.

£26 and a few days wait almost makes it not worth it, considering the "get quickly" services such as BitBargain then come close to the overheads.