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Author Topic: Bitcoin is the new Pet Rock  (Read 1236 times)
cbeast
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July 02, 2011, 02:42:47 PM
 #1

Bitcoin is still in the early phase that requires educating the market. Can we develop a MLM (Multi-level Marketing system) to sell bitcoin offline to folks that just want one bitcoin as a novelty investment? IT would need a physical form for easy sales with novice computer users. One BTC will one day be worth a lot or nothing, but it can also become as collectable as Beanie Babies. Thoughts?

[edit] Maybe we can get bulk mini DVD printed with the BTC symbol in gold to store a .dat file.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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Jack of Diamonds
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July 03, 2011, 12:13:11 AM
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MLM screams bullshit and scam in the public's eye, and rightfully so. No thanks

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xali
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July 04, 2011, 07:50:36 AM
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what you're talking about is bitbills.

http://bitbills.com/


isn't it beautiful?

Smiley ;/)
cbeast
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July 04, 2011, 10:42:49 AM
 #4

MLM screams bullshit and scam in the public's eye, and rightfully so. No thanks
It is a multi-billion dollar industry whether it is bullshit or not.
what you're talking about is bitbills.

http://bitbills.com/


isn't it beautiful?
I like the hologram card there. That would be a simple item to mfr. I hope bitbills.com is using a standard open-source conversion app that is not dependent on bitbills.com being active. If so, then anyone could create such cards and sell them to friends and family with a good retail markup. If not, then if bitbills.com is shut down, then bitbills are worthless.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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July 05, 2011, 03:19:43 AM
 #5

if bitbills.com is shut down, then bitbills are worthless.

That statement alone tells me you know nothing about bitbills.

The Private wallet keys are embedded in the bitbill. Even if they got shut down you could still redeem it.
cbeast
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July 05, 2011, 07:22:28 AM
 #6

if bitbills.com is shut down, then bitbills are worthless.

That statement alone tells me you know nothing about bitbills.

The Private wallet keys are embedded in the bitbill. Even if they got shut down you could still redeem it.

That wasn't a categorical statement, it was contingent on the premise that bitbills are only redeemable by software only provided by bitbills to convert from the card back to electronic. I want to know how the Private wallet keys are embedded in the bitbill. If I buy a bitbill, how do I scan and convert the bitbill to bitcoin if bitbill.com is no longer available?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
teesee
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July 05, 2011, 09:10:27 PM
 #7

if bitbills.com is shut down, then bitbills are worthless.

That statement alone tells me you know nothing about bitbills.

The Private wallet keys are embedded in the bitbill. Even if they got shut down you could still redeem it.

That wasn't a categorical statement, it was contingent on the premise that bitbills are only redeemable by software only provided by bitbills to convert from the card back to electronic. I want to know how the Private wallet keys are embedded in the bitbill. If I buy a bitbill, how do I scan and convert the bitbill to bitcoin if bitbill.com is no longer available?

I assume it has something todo with the QR code on it, although I am sure someone with more knowledge will be able to go into detail.

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Houdini
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July 06, 2011, 12:06:11 AM
 #8

It's all outlined on their site.
You break the bill, extract / scratch the QR code, scan the QR code, get the private key, import the private key with some software (don't know if it's proprietary or not) into your wallet, and voila you've got money.
Not very simple but I'll probably buy one as a souvenir.
cbeast
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July 06, 2011, 01:41:16 AM
 #9

It's all outlined on their site.
You break the bill, extract / scratch the QR code, scan the QR code, get the private key, import the private key with some software (don't know if it's proprietary or not) into your wallet, and voila you've got money.
Not very simple but I'll probably buy one as a souvenir.
Yep, a souvenir and possible lottery ticket is what a bitbill could be. I like the idea of it and could probably sell many of them at 100% markup if I could assure buyers that it will be redeemable in ten years. I guess I'll have to wait until either bitbills or someone else releases open source code before I'll buy them for resale. Or I could make my own bitbills using something like optar and just have someone print me a sheet of hologram stickers.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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