One of the problems Bitcoin help to solve

[Kprawn]

How many of you have visited some merchant with your card, and when the teller swipes your card, the magnetic strip is damaged? Some

cards still make use of the magnetic strip and not the chip. I had this problem last week, and I had to wait 3 hours for it to be replaced. You

first have to phone the customer care at the "Head Office" branch to verify your identity, before the shop assistant can replace your card.

This is VERY frustrating, if you are in a hurry. Bitcoin eliminate all the hassles with physical cards and the fraud associated with this.

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[franky1]

unless its a "store card" eg walmart branded visa credit card, you are understating the time frame..
usually card issuers mail a new card which can take 10 days.

also shops using old magnetic strips have the capability to manually process using the long embossed numbers on the front side of card, taking minutes

but as you also stated FIAT economy has already bypassed the magnetic strip dilemma by having touchless NFC cards and chip and pin cards.
barclays UK also have a work around in the form of an app, called pingit, aswell as apps like (applepay) as solutions to plastic card damage.
and now even NFC wristbands,phones instead of plastic cards

so you are not using a good example for a thing bitcoin solves.

bitcoin is actually behind fiat in the ability to make a transaction. bitcoins transaction creation mechanism(user interface) and private key store, needs an overhaul.

also trying to find advantages of bitcoin to talk about in a bitcoin forum. is just preaching to the converted. theres no point advertising bitcoin to those of us already using bitcoin. whats needed are real solutions to real problems even we notice.

[calkob]

Your right bitcoin does do away with some of these 20th century problems but it also offers up a few of its own, like the battery dying when your out and about to buy something,   others around security .

[franky1]

advertising bitcoin is not the problem.

using bitcoin is.
it needs to be simplified!!
even hardware wallets need to be revamped. the issue is that it is too cumbersome, complicated and needs downloads/browser extensions or server access.. plus needing to copy and paste lengthy gobbledegook addresses and decimal numbers

but there is a solution, should someone want to do it.
SMART WATCHES/FITBIT wristbands

advantages
no software touches the device
private keys remain hidden
the device is wearable (new fashion craze=popular)
making a tx is as simple as shaking your wrist
no need to understand the mechanics of bitcoin to use it

just google "programmable smart watches with NFC" and you'll see the tech is available.


barclays are ahead of the game. first they are doing it with their native fiat payment method,
https://www.shop.bpay.co.uk/categories/buy-bpay/product/wristband/wristband


but barclays is knee's deep in hyperldger so next will be a hyperledger wristband, which will make hyperledger (bitcoins altcoin(banker) competitor) appealing to people that are not paranoid geeks

[Red-Apple]

i'd say this is poor design!
i just checked my cards (and i have 3 from 3 different banks) and the magnetic strip is nothing like this one and i even tried to damage it with my fingernail and failed!

and to be honest i have never experienced this problem before!

[raven7886]

everything you said is 100% correct, I can't dare to deny them. but the main question is "How to use bitcoin in those shops than"?
when we decide to use bitcoin to shop we again stuck on that point that we need to exchange/convert bitcoin to fiat or we have to load our credit cards to use bitcoin..

I agree that bitcoin is the sulotion of these problems,.. but how to solve the problem of not usable of bitcoin.?

[harizen]

There is a manual verification depends on the bank where authentication is only requirements so a person can show only their ID or any kinds of authorization as a proof and transactions will go on processed. But Im not saying that this kind of solution is the best solution. Also banks today are upgrading their all card features into a chip one.

Anyways Im agree that bitcoin is fit for this kind of thing erasing that kind of problem. Unfortunately it's not present as a whole but who knows that there will be a merchant/s someday that is fine with playing with the price volatility of bitcoin.

[SmartIphone]

Sorry to hear that this happened to you. Yeah, bitcoin solves many problems including this.
And I like the franky1 proposation of making the payments through NFC like ApplePay and many similar services.

[alyssa85]

How many of you have visited some merchant with your card, and when the teller swipes your card, the magnetic strip is damaged? Some

cards still make use of the magnetic strip and not the chip. I had this problem last week, and I had to wait 3 hours for it to be replaced. You

first have to phone the customer care at the "Head Office" branch to verify your identity, before the shop assistant can replace your card.

This is VERY frustrating, if you are in a hurry. Bitcoin eliminate all the hassles with physical cards and the fraud associated with this.

In Britain never, because all cards have chip and pin...

[Kprawn]

unless its a "store card" eg walmart branded visa credit card, you are understating the time frame..
usually card issuers mail a new card which can take 10 days.

also shops using old magnetic strips have the capability to manually process using the long embossed numbers on the front side of card, taking minutes

but as you also stated FIAT economy has already bypassed the magnetic strip dilemma by having touchless NFC cards and chip and pin cards.
barclays UK also have a work around in the form of an app, called pingit, aswell as apps like (applepay) as solutions to plastic card damage.
and now even NFC wristbands,phones instead of plastic cards

so you are not using a good example for a thing bitcoin solves.

bitcoin is actually behind fiat in the ability to make a transaction. bitcoins transaction creation mechanism(user interface) and private key store, needs an overhaul.

also trying to find advantages of bitcoin to talk about in a bitcoin forum. is just preaching to the converted. theres no point advertising bitcoin to those of us already using bitcoin. whats needed are real solutions to real problems even we notice.

Banks moved on yes, but some clothing chains and other merchants still use the old magnetic strip. {It might be cheaper} The point is,

Bitcoin eliminate the need for a physical media that can be damaged. My card was for a clothing retail shop, and their procedure allow for a

immediate card swap, when your card fails. { in theory } The reality is, you have to pay for the replacement and because they had their own

employees "creating" cards from blanks for themselves... you have to contact their head office and jump through hoops to get it verified and

then swapped for a new one.  

[Ironsides]

yeah I hope bitcoin makes frigging banks dissapear in a few years

[vnvizow]

yeah I hope bitcoin makes frigging banks dissapear in a few years

Banks are there because there are people who trust them enough to tolerate all the fees and inconveniences, with how Bitcoin has fluctuated over the past few months no one would trust their lifesavings in Bitcoin. With that said if Bitcoin does stabilize a chunk of the current community would probably scruffle off too

[franky1]

The point is,

Bitcoin eliminate the need for a physical media that can be damaged.

dont get me wrong i understand the premiss your aiming for. but..

mobile phones are indestructible? batteries never need to charge? screens never crack? phones never stolen? the list goes on.

and then the utility part of making a tx when the 'tool' is not damaged.
handing over a piece of plastic
vs
having to type in decimals and calculate a fee scan a qr code and press send and then wait for merchant to see the tx..

dont get me wrong i understand the premiss your aiming for. but when you run scenarios of talking to people with such adverts of benefits of bitcoin, and hear their objections and rebuttles of actual real issues, you become aware of the real issues.

bitcoin still needs to revamp how people buy things to be competitor of the 'ease of use and less hassle' benefit.. its just not there yet

[coin-investor]

Sorry to hear that this happened to you. Yeah, bitcoin solves many problems including this.
And I like the franky1 proposation of making the payments through NFC like ApplePay and many similar services.

I have no doubt in my mind that it's going to happen,bitcoin  adoption is now widespread and a global phenomenom,soon we will see investors creating gadgets like this in the future,but it would take a lot of money to do this .

[franky1]

Sorry to hear that this happened to you. Yeah, bitcoin solves many problems including this.
And I like the franky1 proposation of making the payments through NFC like ApplePay and many similar services.

I have no doubt in my mind that it's going to happen,bitcoin  adoption is now widespread and a global phenomenom,soon we will see investors creating gadgets like this in the future,but it would take a lot of money to do this .

to make a prototype smartwatch/wristband costs under $100 (minus labour)

to have a production ready wristband that has processing power to receive UTXO and send out signed tx can be achieved for well under $50

[jacafbiz]

Interesting, I'm just thinking that the lifecycle of technology nowadays is very short. I once had issue with my card also but mine didn't last hours like yours

[SmartIphone]

Sorry to hear that this happened to you. Yeah, bitcoin solves many problems including this.
And I like the franky1 proposation of making the payments through NFC like ApplePay and many similar services.

I have no doubt in my mind that it's going to happen,bitcoin  adoption is now widespread and a global phenomenom,soon we will see investors creating gadgets like this in the future,but it would take a lot of money to do this .

to make a prototype smartwatch/wristband costs under $100 (minus labour)

to have a production ready wristband that has processing power to receive UTXO and send out signed tx can be achieved for well under $50

I think that this can be achieved easily, the hardware can be easily customized with bitcoin logo etc.
Also just need some developers  to develop a prototype like you say and boom a kickstarter project and it succeed

[Tanic]

I have never had such kind of problem with my cards. Yes that's what kind of problem bitcoin can avoid. But there is nothing ideal, so I think with bitcoin payment will be also some kind of problems that will have place to be from time to time.

[Qunenin]

everything you said is 100% correct, I can't dare to deny them. but the main question is "How to use bitcoin in those shops than"?
when we decide to use bitcoin to shop we again stuck on that point that we need to exchange/convert bitcoin to fiat or we have to load our credit cards to use bitcoin..

I agree that bitcoin is the sulotion of these problems,.. but how to solve the problem of not usable of bitcoin.?

We need to find solution to these problems. Rather these are not exactly the problems and there are work around available for them. If Bitcoins are accepted in that particular store and store management accepts 1 confirmation, then most of the problem is solved to much extent.

[franky1]

Also, how about the security compared with credit cards and NFC payment?

the only data sent out of a wristband is public keys and signed transactions.. imagine it as next gen hardware wallets

The price looks affordable for many people, but smartwatch/wristband sales isn't that good compared with smartphone. Only few people who use smartwatch/wristband.

its a new concept. disney land is already letting kids at their themeparks buy things with a wristband rather than needing to drag mum&dad along with their debit cards.
barclays uk are starting a wristband payment instead of carrying around a smart phone.

google "wristband payments",
you'll see its the new 'fitband fashion craze' thats started very recently. which has no worry of phone battery charge issues or fiddling in your pockets to enable an app. you just swipe your wrist and go.

bitcoin needs to be as simple as swiping your wrist. to allow it to be as useful as 'other payment methods'.. as we all honestly know typing in addresses/scanning qr codes and typing in decimal amounts can be irritating even for those that understand bitcoin

[raven7886]

I have never had such kind of problem with my cards. Yes that's what kind of problem bitcoin can avoid. But there is nothing ideal, so I think with bitcoin payment will be also some kind of problems that will have place to be from time to time.

nothing is ideal but bitcoin is still better than any other payment sources, it is easy to use, easy to store, easy to borrow and easy to take it everywhere,. and I don't know what kind of problems you are saying that will have place from time to time?

[unamis76]

Not sure where you got this picture, or how old it is, but the ideia is indeed out there, for a long time, and it's already built (or at least partially built), just not commercialized.

Any clues regarding what happened to this?

[Ryan Dugan]

I agree. This is something bitcoin easily takes care of for both customer and shop worker/owner. It is a trust less network so no waiting for anything to verify or to be sent to anyone just very quick solutions instead of wasting your time. Not being physical means you have no card to lose either.

[franky1]

Not sure where you got this picture, or how old it is, but the ideia is indeed out there, for a long time, and it's already built (or at least partially built), just not commercialized.

Any clues regarding what happened to this?

i came up with the wristband concept and created the image during my exploration of what the banks are doing to update themselves (barclays UK wristband) and barclays getting involved in hyperledger)

i have thrown a few concepts out into the community to let people grab if they want to develop.

but cant remember seeing "sigsafe", in the past, even though i been around since 2012..

maybe the guy from sigsafe should work with the hardware wallet teams and restart his project as more of a smartwatch or just launching it as the keyfob.

as i feel that noob/non-techy people would find 'touchless' pay beneficial compared to current bitcoin payment methods.
as i feel the requirement of current hardwallets needing usb and browser extentions, are missing the point of airgapped utility.

good find though. cheers seems im not the only one thinking outside of the box

[olubams]

The problem bitcoin has been able to solve for me and most people is the ability to earn something while doing what I normally do online but this time doing it in a productive way and the earnings from all over the world. It has literally turn me to someone earning from abroad in an easy way which would have not been this easy if we had to go through the process of either paypal or western union difficulties...

[lionheart78]

The problem bitcoin has been able to solve for me and most people is the ability to earn something while doing what I normally do online but this time doing it in a productive way and the earnings from all over the world. It has literally turn me to someone earning from abroad in an easy way which would have not been this easy if we had to go through the process of either paypal or western union difficulties...

I guess to some part of the world especially on the developing country, Bitcoin help to reduce unemployment because Bitcoin opens a new horizons of opportunity especially to those who are into freelancing jobs.
As for that wristband, that would be cool if implemented but wouldn't it be the next target of snatchers?  Once they knew about it and seen it wearing around the streets, there might be no issue on the transaction security but it might compromise the person wearing the gadget.  I see it very cool but at the same time worries on the person wearing it.

[franky1]

I guess to some part of the world especially on the developing country, Bitcoin help to reduce unemployment because Bitcoin opens a new horizons of opportunity especially to those who are into freelancing jobs.

not when the fee is more than an hours labour in those same developing countries

As for that wristband, that would be cool if implemented but wouldn't it be the next target of snatchers?  Once they knew about it and seen it wearing around the streets, there might be no issue on the transaction security but it might compromise the person wearing the gadget.  I see it very cool but at the same time worries on the person wearing it.

less risk than pickpocketing your debit card or phone. because its on your arm so you would notice someone playing with your arm more so the someone sliding hand in back pocket

[Rahar02]

advertising bitcoin is not the problem.

using bitcoin is.
it needs to be simplified!!
even hardware wallets need to be revamped. the issue is that it is too cumbersome, complicated and needs downloads/browser extensions or server access.. plus needing to copy and paste lengthy gobbledegook addresses and decimal numbers

but there is a solution, should someone want to do it.
SMART WATCHES/FITBIT wristbands

advantages
no software touches the device
private keys remain hidden
the device is wearable (new fashion craze=popular)
making a tx is as simple as shaking your wrist
no need to understand the mechanics of bitcoin to use it

just google "programmable smart watches with NFC" and you'll see the tech is available.


barclays are ahead of the game. first they are doing it with their native fiat payment method,
https://www.shop.bpay.co.uk/categories/buy-bpay/product/wristband/wristband


but barclays is knee's deep in hyperldger so next will be a hyperledger wristband, which will make hyperledger (bitcoins altcoin(banker) competitor) appealing to people that are not paranoid geeks

Looks like the most interesting part was this smart bitcoin wristband to do transaction easier and faster without worrying about how to use bitcoin , especially for women I guess.
The cards problem just seems as poor designed but to have bitcoin transaction in the market/groceries/supermarket accepted bitcoin is what we chasing for, that's why the idea to make simple transaction occurred and looking for implementation.

[shinratensei_]

It seems your explanation is so strict for the customer, dude. But in fact, I just need 10 minutes to get a new card from my bank. Only provide my govermentID and I got a new card to change the old broken one.

[SmartIphone]

It seems your explanation is so strict for the customer, dude. But in fact, I just need 10 minutes to get a new card from my bank. Only provide my govermentID and I got a new card to change the old broken one.

It depends on the bank but usually, it takes a week or 10 days to get another one and you have to pay it.
Does anybody know if any start/company has started producing such hardware NFC payment?

[erickkyut]

one of the problems  that I encountered before that bitcoin had helped me is the financial problems! Bitcoin helped me in my daily budget. It also taught me a lot about investing, stock market and trading! bitcoin opened a lot of opportunities to everyone and helped us to gain more and taught us a lot of things about business and investments!

[jovs]

one of the problems  that I encountered before that bitcoin had helped me is the financial problems! Bitcoin helped me in my daily budget. It also taught me a lot about investing, stock market and trading! bitcoin opened a lot of opportunities to everyone and helped us to gain more and taught us a lot of things about business and investments!

Sure thing, bitcoin is really benificial for people whose seeking for an extra job. It helps us to make our transaction faster, easier, and reliable. It is too easy too understand how bitcoin's trading works, and how we can use bitcoin unlike in forex currency, you need to attend seminars or read some books.

[_nur]

according to nakamoto institute the only problem bitcoin solves is Double Spending

[kryptqnick]

Yes, with bitcoin there are no problems with physical things like cards (although I've heard about the possibility of carrying your btc on some physical device (not computer, like a btc coin, for instance) but there are some other problems related to bitcoin like the big one that you can pay in a supermarket with a card but can't use bitcoin for such purposes.

[Dudeperfect]

Yes, broken card can prove very irritating and costly especially when there is an emergency or any kind of emergency. Bitcoin is really useful in such case but I think we need some solution for the confirmation time, I mean card takes maximum 2 or 4 minutes to get transaction confirmed but bitcoin usually takes up to 10 minutes even with high fees so using it instead of the card takes more time. I am sure we will soon have some solution for it.

[Kprawn]

Yes, broken card can prove very irritating and costly especially when there is an emergency or any kind of emergency. Bitcoin is really useful in such case but I think we need some solution for the confirmation time, I mean card takes maximum 2 or 4 minutes to get transaction confirmed but bitcoin usually takes up to 10 minutes even with high fees so using it instead of the card takes more time. I am sure we will soon have some solution for it.

Well the solution {SegWit/LN} was thrown out there, but not everyone seem to think that it would solve the problem. The miners for

one, are scared to lose fees and they seem to boycott this.  ...The wallet providers see the potential in this, and some of them

seem to be on board with this.  ...So yea, we are waiting to see how this pan out. If Blockstream gets it's way, we are going to

have "instant" transactions with LN. 

[audaciousbeing]

On the issue of cards, most of our own transactions is still being done using cash and some times bank transfers. But one problem bitcoin has been able to solve for me is the low cost of transaction as the amount needed to transfer even a large amount is more or less nothing. Another is the issue of cross border transfer without any constraint whatsoever.