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1  Economy / Economics / Re: Making crypto succeed in the real world? on: May 07, 2018, 09:29:31 AM
Quote from: boboking on May 05, 2018, 03:03:59 AM
Those are not bad ideas but I do not think it's going to work for several reasons, first of all you want cryptocurrency wallets installed in every single phone, but if my phone came with an application like that and I didn't use cryptocurrencies I'll just uninstall it, second we do not need adoption of crypto wallets we need adoption of cryptocurrencies, if I am not holding cryptocurrency I do not need a wallet, and for your second and third point I do not think that is really necessary.

Yes I agree, this type of ideology may work in a perfect world but in the real world this is not going to happen.

For the questions- ICO have been doing this, they are trying to create wallets for their own coin. I have a lot of coins from bounties that have their own wallet.
Wallet alliance - I do not think that will work, but if you mean wallet that support multiple coins, I am using Jaxx and it supports multiple coins.
for the third question - I do not think it is going to ever happen.
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Yes, I am talking about multi-currency crypto wallets. The question also remains, who will convert between crypto assets, the customer wallet or the merchant? It could be implemented at both ends I guess. Im trying to find those ICO's that are closing this loop from consumer to merchant.

Currently in Denmark, its the merchant that pays the fees for each transaction and usually 700 USD for a creditcard machine to get started + annual subscription fees. They would be interested in a cheaper solution. However, customers have not interest in holding crypto, unless they can get an interest rate on it? Currently its zero procent in the fiat bank!
2  Economy / Economics / Re: Making crypto succeed in the real world? on: May 07, 2018, 08:40:03 AM
Quote from: Hydrogen on May 04, 2018, 10:16:30 PM

Awhile ago, there were headlines in the news regarding "700 million android phones" having backdoors pre-installed on them by china:

Quote
Pre-installed Backdoor On 700 Million Android Phones Sending Users' Data To China

WASHINGTON — For about $50, you can get a smartphone with a high-definition display, fast data service and, according to security contractors, a secret feature: a backdoor that sends all your text messages to China every 72 hours.

Security contractors recently discovered preinstalled software in some Android phones that monitors where users go, whom they talk to and what they write in text messages. The American authorities say it is not clear whether this represents secretive data mining for advertising purposes or a Chinese government effort to collect intelligence.

International customers and users of disposable or prepaid phones are the people most affected by the software. But the scope is unclear. The Chinese company that wrote the software, Shanghai Adups Technology Company, says its code runs on more than 700 million phones, cars and other smart devices. One American phone manufacturer, BLU Products, said that 120,000 of its phones had been affected and that it had updated the software to eliminate the feature.

https://www.nytimes.com/2016/11/16/us/politics/china-phones-software-security.html

Before cell phones could be utilized as a major hub of finance, a more concentrated effort could be required to secure them. Better standardized practices to better eliminate data mining and backdoors. Of course, this could be impossible given backdoors are sometimes included by state intelligence/surveillance and there is a push for large corporations like apple to utilize weaker encryption standards (or no standards) on products like iphone.

I like that someone is thinking about ways to encourage crypto mass adoption.

Maybe if every active person on this forum told 10 people they know about bitcoin, and those 10 people each told 10 of their friends about it, some type of viral campaign could be worked out?

I've tried to do it in the past. I tried to give people I know bitcoin for free in the hope that they would use it and maybe see its not that bad a thing. Maybe they would even like it and use it in the future. Not a single person accepted the free btc I wanted to give them. lol I guess they are too nice or maybe I look like a nigerian prince?

If phone security is still an issue, then we still need some kind of card or detached device like Ledger to do payment? Or maybe just use phones for smaller everyday payments and an extra device for large transactions, or a simple time-delayed "confirmation" from a third-party phone.

Sadly I didn't know you then when giving away free btc!!! Smiley I guess education of crypto needs to come before adoption.
3  Economy / Economics / Re: Making crypto succeed in the real world? on: May 04, 2018, 08:39:49 AM
Quote from: Ctn on May 03, 2018, 10:32:55 AM
If that would have been easy then it could have been already being followed everywhere. But its not! Merchants fear because they have to track the sales, earnings, pay taxes and much more. There is no provision for this purpose yet and thats why they might not just accept it so easily. For customers it gets difficult to wait in the coffee shop until they get sufficient confirmation of the bitcoin process. So there are not single but many problems in using this currency. Until the time we dont see huge set up for this then we cant see any progress as whole really.

I looks like the lightning network could make the transaction fast as any VISA payment and function offline with later synchronization. Its true that merchants lack integration with the old systems - Not seeing anyone doing this besides maybe https://utrust.com/.

V.
4  Economy / Economics / Making crypto succeed in the real world? on: May 03, 2018, 09:36:04 AM
Hi, I would love to hear your input on this.

As I see it, we need crypto wallets installed on every phone possible to ensure the readiness of everyday payment with crypto assets. Once customers are ready to pay, the stores will follow.

At least three things needs to happen:

1) Adoption of crypto wallets needs to increase (preferable with pre-funded assets)
2) Each wallet provider needs to agree on a standard protocol for payment (Maybe Payment Request API (W3))?
3) Store owners need a merchant app to receive payment with further integration into multiple accounting systems.

Have you seen anyone doing this?
Do we need a wallet alliance that can stipulate a standard?
What else needs to happen besides regulation?

Best crypto greetings,
Vindberg
https://validators.com
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