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I don't think there is any reason the Bitcoin client would attempt to make an outgoing connection on port 443 unless you are specifically telling it to do so through settings (rpcconnect, rpcssl) in your Bitcoin.conf
Are you using a stock Bitcoin.conf?
Where did you get that binary build from?
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There is huge gap . So what you are describing is an arbitrage opportunity that nobody is taking advantage of? |
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Most people hearing "99 cents" think $0.99 and not 0.99 BTC.
Perhaps you wish to phrase that at 99 bitcents?
Great to see this available though!
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Right now two reasons you don't see Visa/MC/Amex payment card networks with vending machines (for low value goods) is the high fees that those networks charge and also because of the need for a data connection to accept the payment card. Bitcoin would eliminate the prohibitive fees issue but would have the same data connection requirement. I know bitcoin wasn't architected to be a microtransaction (e.g., in the $1 range) payment system but Bitcoin's low fees almost ensure that the bitcoin network will see some significant use as a microtransaction payment network. Also, I wonder if Bitcoin's characteristic of being a triple-entry accounting system presents an opportunity. For instance, I was at a facility where the break room is in a shared common area used by multiple startups and small companies. I could see the employer wishing to give a perk of free (or subsidized) purchases to its own employees by reimbursing them for their purchases from the same vending equipment that the other tenants and visitors use. Here's a little info on "triple entry accounting" - http://iang.org/papers/triple_entry.html - http://financialcryptography.com/mt/archives/001325.htmlThe ability to sign a message using the private key from the wallet (as built into the bitcoin client v0.5) makes it relatively easy to prove that those purchases were yours. This could work for other systems that are shared as well -- to reimburse for parking, as an example. Bitcoin is so flexible, with just so many different ways that this technology can be used. |
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So that I understand this process correctly:
Bitcoins -> BTCBuy.info = SuperCertificate code
Then
SuperCertificate code -> GiftCertificates.com = Gift Certificate (by mail) or Gift Certificate code (for use in making an online purchase)
And to clarify ... there is no fee when I take my SuperCertificate and obtain the Gift Certificate for the retailer, correct?
Do SuperCertificates expire?
This certainly broadens the number of online sites where bitcoins can, with an intermediate step, be used for purchases. Great to see!
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This would be like a postage stamp with a value in bitcoin?
Not quite. Simply gives the ability to "sign a message" on one side and to "verify the signature" on the other. - http://github.com/bitcoin/bitcoin/pull/524 |
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I especially use credit/debit cards for small purchases because the banks take a good chunk.. I'm missing the intent ... that causes pain to the merchant, who in turn raises the price -- the only winners are the payment network s and credit card issuers. Many merchants post minimum charge limits (though their merchant agreements almost universally prohibit that policy) so that their profits don't get demolished by payment network fees with these small purchases (e.g., purchases under $10). |
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I have said it before, but asymptotically limiting the number of bitcoins has bad repercussions.
One of the most serious problems is hoarding. Whenever you have a commodity that has a fixed supply against an increasing demand, inevitably hoarding occurs.
This is one of the key reasons why currencies are designed to expand: steady expansion of a currency improves liquidity.
Bitcoiners complain about non-use of coins and liquidity, but I think it is largely their own fault for capping the bitcoin supply, an elementary design blunder. Not only that, the closer we get to 21 million and the more users there are, the more intense the hoarding will become. This is basic economics stuff. Seriously, people around here need to read Adam Smith. (Hey, I know its a fat book, maybe your mom can help you with the big words.)
Also, as long as I am ranting, the procedure of giving bitcoins to people who run computational server farms is totally off the wall. The natural way to do P2P currency expansion is to award new coins proportionately to those who hold existing coins. Duh.
Lucky for you there now are several alternate currencies which address your concerns. See the forum section "Alternate cryptocurrencies" for more info: - http://bitcointalk.org/index.php?board=67.0Personally, I'm sticking with Bitcoin. I see it this way -- because it is trivial to "restock" my supply of bitcoin, I don't hesitate to choose it as the currency I use for spending. And because when I spend using Visa/MC/PayPal, the merchant gets less than a dollar for each dollar I spend, I believe it is only a matter of time before we start seeing incentives from merchants driving us to use Bitcoin as the payment method. i.e., I as a consumer gain more from using bitcoin for a payment than I would gain as a speculator from the increase in its value. |
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The loss of funds left with MyBitcoin was fatal to several ventures that were using that service and many other ventures have been paralyzed by the huge drop in the exchange rate, vaporizing capital. Also, I want a bitcoin baseball hat. Nobody's ever offered one of those. On a related note, the Bitcoin Nerd Merit badge is still available and is still the same price (1 BTC): - http://www.nerdmeritbadges.comThe site's shopify order form shows out of stock as Shopify doesn't (yet) accept bitcoin as a payment method. But order using their bitcoin-specific order procedure here: - http://www.nerdmeritbadges.com/products/bitcoin |
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Today I handed a Casascius physical bitcoin (1 BTC denomination) to presidential candidate (and former governor of New Mexico) Gary Johnson and described in brief how a decentralized digital currency works. To add to the moment, this is the mural that stood behind me as I spoke:  |
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