Bitcoins in real Life

[Itsthatsguy]

So there's no convenient way to spend Bit coins yet, well, i was thinking about a way to integrate it into our everyday lives and make it a little more convenient to use, BTC is effectively a method of transferring value between people, like all currencies, however bitcoins are pretty stuck online with no convenient, one stop app way to spend them all over, and integration into a business is less then ideal, my idea was to start coding a new Smart phone application brings a mobile wallet with you (and some fancy authentication features if you swing that way) this wallet will be maintained by the servers on our side, which will also maintain seller-wallets, this way we can rapidly authenticate a bitcoin transaction done within our network (super fast response time) this will bypass the standard delay and make a transaction between buyer and seller more secure on both sides. The hardware on smart phones is already capable of communicating to a great many payment data transfer devices, qr code reading, NFC, even SMS or direct QR code reading from 2 phones, ECT, we could create a business side app for windows and mac to run with pre-existing smart phone options that are already present in stores, the seller would have to create an account with us and download some software onto there registers, a customer comes in, pays with bitcoins, it gets rapidly verified, and like magic we have a mutually beneficial transaction, I'm currently a hobby-level programmer, but im going to college for a major in computer science (Wanna help the top ramen fund ? 1Gx5NmTDsXhjBAjkHq6B6XeMPLC3YXBKQd), The goal with this app isnt for me to become rich, obviously we'll have to operate with some fee, but the goal is too keep hardware and software costs as low as possible for business owners and bitcoin enthusiast alike while raising awareness about bitcoins and opening up new ways of using this amazing currency. Due to the ease of access the bitcoin network provides to all developers we could really start something good here, my first thought was to keep the fee to 1% with no additional fee on anything over ~$1000 usd so the highest fee we will ever charge would be $10. this will be a project i will hopefully begin to develop soon, if anyone has any ideas or comments please feel free to post it, also, i am looking for help, so if you want to contribute to this project please let me know your skillset and ill see if we could use your help =)

[greyhawk]

Oh good, it's mybitcoin all over again.

[Itsthatsguy]

One service got compromised, your telling me that makes the whole idea impossible?

[greyhawk]

Every single online wallet but blockchain.info got "compromised". Not the best track record.

[Itsthatsguy]

If every online wallet has been compromised, there wouldn't be online wallets today. Furthermore one could keep his online account empty until they decided to go out, they;d transfer some money, itd be verified in a reasonable amount of time and they could go about there day, sellers BTC could automatically goto there personal wallet after its been confirmed by our systems. the only time any amount of BTC would have to be stored would be before the buyer actually bought an item. theres most certainly ways to beef up security, it might require a stricter play in how people use our service but with proper measures taken it would be a safe an easy transaction.

[californiablue]

hey, good luck ... we need developers constantly working on apps and ideas like these to make bitcoin more usable offline if bitcoin is going to stay alive. Ignore the haters and work on that app.

[DannyHamilton]

If you can get a well known international insurance underwriter to insure the deposits and a trusted third party auditor to audit your security and business practices, I'd use your service.  Otherwise, never.

[Svennisen]

Well, good luck. However actions speak higher than words.

And please, intend your text! Didn't even bother to read it all cause it is so terrible for your eyes.

[Itsthatsguy]

I fully plan on developing this, i had a though about how to prove its secure, during development (and once we have a working beta) we'll host a 5BTC giveaway, hack my security around the giveaway wallet, and its yours, no strings, no penalties, hell you could even brag on the forums about doing it, this will show me vulnerabilities and hopefully build trust, if we stay unhacked. Regardless insurance would probably be a must, but would provide so much peace of mid.

[Btcminer767]

When I do a transaction we just use our smartphones to send and receive payment it's very convenient since most people have one

[Itsthatsguy]

Good point, but some business's dont have a company smartphone on hand at all times, and while it seems redundant to put in a smartphone to smartphone transfer method it would be implemented so transactions can be instantly verified vs being confirmed on the blockchain

[marketalchemy]

If companies like square and paypa are able to do this, I don't understand why we can't do it with BTC?  The only difference is that the BTC world is rife with hackers with a lot of time on their hands. LOL.

[jadair10]

... and integration into a business is less then ideal...

I agree that "integration into a business is less then ideal." And why would a company want to, to increase their customer base by the bitcoin community?

[Itsthatsguy]

I hate getting charged fees and so do merchants, a 50 cent fee on 10 bucks (lunch sized purchase) is 5%, that sucks, bit coins are pretty much fee-less, and our service would be charging a much smaller amount in comparison, it'd save the business money, the consumers anonymity and would open up doors for many bitcoin enthusiast, if i saw a bitcoin accepting restaurant nearby home id definitely go there for the kicks.