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I have a high level concept I am trying to figure out.
tl;dr
Create a program where multiple people can put their money into a single wallet unaccessible by anyone with criteria for when and where it will disperse payments.
tl part:
Distribution
I was thinking of several different scenarios. You can set the time of distribution, say once a week, month, year etc...or once it hits X amount, or you could have all of the people who donated vote on the distribution. You can set the vote to be 1-100% required to distribute with a threshold of sending the money back to the donors if there is no resolution by X day.
Consider a mixed group of people wanting to support cancer research. They donate to this cancer wallet and it is set up to activate either at 1000 BTC, with a vote of 66% for the location of where the 1000 BTC will be sent. If there is no resolution within two months, the BTC is sent back equally to the donors.
Or a neighborhood wants to build a park in an open lot so all of the neighbors put BTC into the park wallet. They come up with a few different ideas and companies and require a 51% acceptance for distribution. Once they get a vote of 51% then the money is sent. Otherwise it either has a date where the money is given back or it is kept there until there is agreement.
Or a club that has dues where the members get to vote on where the money goes.
The Program
This I am not too sure about. The hard part is having a wallet that is not accessible by anyone but the program. The person or server in control of the program could possibly be the weak link there. I do not want to rely on trust. There needs to be a lot of transparency and easy verification.
I could use some suggestions on this. Thanks.
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Bitcoin has gotten back on track of dropping about a dollar a week which was shortly interrupted by the hype of the convention which turned out to be nothing.
The price will probably keep going down until there is enough interest to counter the 50% inflation.
I believe that when the mining reward goes to 25 in 2012 and inflation is cut in half then we will be able to maintain and slowly rise in price from there on with fluctuations.
But until then, it will continue to fall.
So where is the floor?
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So after everything I finally noticed that my MtGox commission went up from .3% per trade to .65%.
I just checked it again today and it says .43% per trade and if my volume goes up X BTC then it will be .4% per trade.
Is this new?
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It appears that the bots or the big trader is setting up a swing on both ends. It will either rise quickly to over 12 then drop to under 10.5 or it will fall to just under 10.5 then fly up to over 12.
Should be interesting to see which way it goes.
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A week of people holding their BTC and their breath to see the reaction to the conference shows the market reaction.
I see the price going back to pre-conference hold prices and rising and falling based on day to day news.
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Someone just dropped a buttload into the 10.8 wall.
It is going down...
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Just a high level idea but...
Would it be possible to create a distributed system of wallets such that the wallet is created, simultaneously encrypted and then distributed on a system of servers similar to the way Bitcoin now works where an encrypted file is kept on various servers all over the world. And to connect to your wallet you merely need to connect to one of these servers, deposit some money and create a password and from then on that account is your own. Those that run the server could get a fixed interest amount for hosting your account in a similar fashion as the way miners are paid.
Then during a transaction you could just connect to the account network and authorize the transaction.
I have no idea but just figured I would throw that out there.
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Did you remember to hold some cash in Dwolla this weekend?  |
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How hard would it be to set up a Bitcoin cash machine where you deposit cash like a vending machine and you scan in your BTC address and it gives you the BTC?
It might not be something all that popular but if you had one in most major cities, people might be willing to travel to go get some if they find all other ways too time consuming.
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I wonder if there would be a way to offer Bitcoin insurance.
You pay the insurance and if something bad happens to your Bitcoins and you lose them all...then the insurance company reimburses you. Then the company can go after whomever stole it.
This could be a whole industry of Bitcoin detectives working for insurance companies.
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$12 down to $10!!!!
Oh noooossss!!!!
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“我將花費至少10 Bitcoins每月只有千，但其他人會做的一樣。” - Elwar，Bitcoin先鋒（接觸） 截止到報名方式：2011年12月1日 6人報名，994更需要 更多細節 目前Bitcoins沒有使用多少為他們原本打算對，這是作為一個貨幣交換商品和服務。 現在是改變這種狀況與早期Bitcoin開拓者願意一直花費至少10 Bitcoins每月上為所欲為。該基地的開支水平，每月10000 Bitcoins將確保商家有市場在那裡為他們的Bitcoin產品，並將進一步促進活動和增長的Bitcoin市場。 http://www.pledgebank.com/bitcoin1000I apologize for the bad translation from Google Translate if I am way off. |
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The pledge: "I will spend at least 10 Bitcoins per month but only if 1,000 other people will do the same." Sign up here: http://www.pledgebank.com/bitcoin1000Currently Bitcoins are not being used much for what they were originally intended for, which is as a currency to exchange goods and services. It is time to change that with early Bitcoin pioneers willing to consistently spend at least 10 Bitcoins every month on whatever they like. This base spending level of 10,000 Bitcoins per month will ensure merchants that there is a market out there for their Bitcoin products and will spur further activity and growth in the Bitcoin market. Sign the pledge and please let us know here that you have signed up. |
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The pledge: "I will spend at least 10 Bitcoins per month but only if 1,000 other people will do the same." Sign up here: http://www.pledgebank.com/bitcoin1000Currently Bitcoins are not being used much for what they were originally intended for, which is as a currency to exchange goods and services. It is time to change that with early Bitcoin pioneers willing to consistently spend at least 10 Bitcoins every month on whatever they like. This base spending level of 10,000 Bitcoins per month will ensure merchants that there is a market out there for their Bitcoin products and will spur further activity and growth in the Bitcoin market. Sign the pledge and please let us know here that you have signed up. |
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The pledge: "I will spend at least 10 Bitcoins per month but only if 1,000 other people will do the same." Sign up here: http://www.pledgebank.com/bitcoin1000Currently Bitcoins are not being used much for what they were originally intended for, which is as a currency to exchange goods and services. It is time to change that with early Bitcoin pioneers willing to consistently spend at least 10 Bitcoins every month on whatever they like. This base spending level of 10,000 Bitcoins per month will ensure merchants that there is a market out there for their Bitcoin products and will spur further activity and growth in the Bitcoin market. Sign the pledge and please let us know here that you have signed up. |
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Buy high and sell low! Mix things up a bit. They will not expect it and you will make out like a bandit!
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I have one of these: http://en.wikipedia.org/wiki/BlackDog It is a miniature Linux machine that is powered via USB with a fingerprint scanner which requires that you scan your finger in order to log in, plus knowing your login and password. It uses your computer's network connection, monitor, keyboard and mouse as periferals so even if you had a virus on your computer, it would have to sftp into your BlackDog to access any files. Would this be a safe way of getting and protecting your wallet.dat file? |
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Looks like now that the trade commissions are no longer at 0% we will be going back to huge swings in prices.
Great time to make some money.
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Ok, I have an idea that I figured I would throw out here to see if it would pass muster.
tl;dr Create an Android app that scans barcodes at stores and allows you to buy instantly in bitcoins and have the products delivered.
Basically I would have a simple website, for merchants and as a gateway for Android users. On the merchant side I would have a list of barcodes scanned by users and have a list of what items are popular along with data on how much money someone could make by selling them. Make it as easy as possible for a newb with a garage to see that he could make X amount of bitcoins selling X widget.
On the consumer side you can go into a store, say you are doing your Christmas shopping, you see an item you like, you scan the barcode and either enter the store price for comparison or not. It would have the item name, a rating for the seller, a sliding bar for price based on how many days you are willing to wait to receive the item, and a "Buy" or "Don't Buy" option at the bottom. If you buy, the item is added to your bit-pay cart. You can then go throughout the store adding more items to your BTC cart until you have everything you need, then you just checkout and send in your payment. Walk out of the store with no bags and your shopping done.
Ideally, on the merchant side, if this were to take off you would have small start-ups all over the country selling goods for bitcoins which would then turn into huge warehouses of goods to the point where Walmart will start losing market share to people just coming in to scan products for their bitcoin purchases.
Ideally, on the consumer side, you would be able to get all of the items you want at a store at a lower price with the ability to pay in bitcoins. With the convenience of having it all delivered to you at your front door.
Thoughts? Ideas?
I could probably code up a basic prototype.
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As of midnight tonight there will be no more 0% trades on MtGox.
This will most likely result in larger spreads.
I am not sure which way this will make things go but I have $5k in cash and ~$5k in BTC waiting for any big swings this might cause.
Tomorrow should be interesting.
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