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Author Topic: TextCoin.co.uk - Purchase BTC with SMS  (Read 13626 times)
cypherdoc
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July 27, 2011, 11:22:26 AM
 #61

i subscribe to an investment newsletter from a guy that thinks currencies will be the investments of the near future.  which one is the question and the choices include gold/silver/bitcoin along with fiat.

if i was an ATT, i would link my text messaging services with other intl carriers to set up a global network and get into the global currency exchange business.

this way when the wife receives the SMS from the husband in USD working in the Fresno fields, she could convert them into the pesos instantaneously thru her Mexican phone carrier from her beachside hacienda.
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cypherdoc
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July 27, 2011, 11:31:55 AM
 #62

Wikipedia:

Money sent home by migrants constitutes the second largest financial inflow to many developing countries, exceeding international aid. Estimates of remittances to developing countries vary from International Fund for Agricultural Development's US$301 billion (including informal flows) to the World Bank's US$250 billion for 2006 (excluding informal flows).[1] Remittances contribute to economic growth and to the livelihoods of people worldwide. Moreover, remittance transfers can also promote access to financial services for the sender and recipient, thereby increasing financial and social inclusion. Remittances also foster, in the receiving countries, a further economic dependence on the global economy instead of building sustainable, local economies.
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July 28, 2011, 03:00:23 AM
 #63

This would be awesome on a phone with a built in wallet which spits out an address for you each time you want to buy btc via sms.

You wouldnt need anything else..except maybe google wallet support .   Smiley


Last time I looked there was a long wait for the service provider to send the money for the service offered. How do you get around the massive delay in funds arriving ?
TYDIRocks
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July 28, 2011, 03:18:49 AM
 #64

Very cool! I wish you luck with your service.

Import new address/private keys with ease: https://bitcointalk.org/index.php?topic=101161
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July 28, 2011, 01:17:26 PM
 #65

Inspired by this, and I hope I am not off topic and it makes some sense.
Anyone with a smartphone and cash in a pocket can bypass western union, and can start with only 2 people.
Migrant husband gives cash to person A. Person A makes btc payment to home country to Exchanger B who resides in the same city, family receives local cash. Confirmation number confirmed by SMS or something. The current exchange rate needs to be available to both parties. One should have ongoing relationships with key partners and trust is key.
Intl transfer only takes 10 minutes to confirm, on par with Western Union but can be cheaper. I guess this is called p2p money exchangers and bitcoin allows for intl transfers rather quickly.


WARlrus
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August 06, 2011, 12:36:45 PM
 #66

Glad to see that this service is really taking off! I've had a large number of emails from people wanting to help in a variety of ways, and I believe I've finished replying to them all now!

The service is now running a lot more stably than when first launched, and all BitCoin transfers appear to be happening instantly, as the service was designed to do.

As I've mentioned, I'm looking into further international gateways to launch the service, sadly there isn't an easy way of me rolling this out to multiple countries at once, each country will have to have it's own exchange rate, variable fees etc, which adds a whole new layer of complexity to the site. That said - I'm hoping to have a US launch within the next couple of weeks, and would love to hear suggestions of where else you want this service to run

In the meantime - please consider sending a small donation to 1LiBGgTYzkgHqgAmbfCzXKbAu4fwsh7hQS. As a previous poster has mentioned, the margins I'm making on these transactions are extremely small, and the overhead costs of site maintenance etc are not!

But most importantly - please keep on using the service, and please keep sending me any feedback.

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
Ryland R. Taylor-Almanza
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August 13, 2011, 10:48:49 PM
 #67

Just remembered my pledge today. Sorry for the delay, Molecular. Bitcents sent.
molecular
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August 14, 2011, 07:15:15 AM
 #68

Just remembered my pledge today. Sorry for the delay, Molecular. Bitcents sent.

Cool! It's really nice to see people standing up to their pledges Wink Thanks!

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WARlrus
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August 17, 2011, 10:40:09 PM
 #69

TextCoin has now been updated to include the option to buy 0.4BTC for £5, as a lot of people have been buying in bulk - it's now even cheaper to do so!

I'm still investigating international options, hopefully we should see the service expanding into Europe over the next couple of weeks, but unfortunately I'm struggling to find a US gateway provider!

Please continue to send your feedback, it makes the hard work worthwhile!

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
ysoliman
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August 18, 2011, 04:39:22 PM
 #70

Although it is quite costly what a great idea.
Just bought 0.1 BTC by text, in my wallet within 10 minutes!

+1 for the idea and +1 for the convienience!

Look forward to seeing more from this idea!
Anonymailer
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August 18, 2011, 08:39:54 PM
 #71

This must be the quickest and easiest way to get BTC there is right now. Any chance of a £10 BTC? do the operator charges go down for higher sums?

MacMiner - The first, best and easiest to use native Mac coin mining app: https://bitcointalk.org/index.php?topic=197110.0

BTC: 12vZf8mjaXvHorXWVWfv7nZspHa8L8kfoG LTC: LLRqwo3YcLqoRyfZRVmUevtd2Y35Vvnt4w
WARlrus
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August 21, 2011, 08:57:58 PM
 #72

This must be the quickest and easiest way to get BTC there is right now. Any chance of a £10 BTC? do the operator charges go down for higher sums?

Unfortunately the operator charges remain the same for higher amounts, but I have added an option as requested for a £10 spend, which currently gives you 1BTC

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
WARlrus
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August 25, 2011, 02:53:31 PM
 #73

Apologies for downtime - the server is now back up and running, and should hopefully be a bit more stable after these upgrades :-)

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
WARlrus
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November 29, 2011, 01:21:16 PM
 #74

Apologies (again) for (yet more) downtime! I've recently moved the servers location, so the service should be a lot faster, and (hopefully) more reliable!

Unfortunately the coins I added when first switching the server back on sold out very quickly - but it's now back up with a larger balance - enjoy!

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
cypherdoc
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November 30, 2011, 05:25:07 AM
 #75

Apologies (again) for (yet more) downtime! I've recently moved the servers location, so the service should be a lot faster, and (hopefully) more reliable!

Unfortunately the coins I added when first switching the server back on sold out very quickly - but it's now back up with a larger balance - enjoy!

was wondering what the heck happened to you.  welcome back.
btc_artist
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November 30, 2011, 05:55:10 AM
 #76

£10 for 1BTC sounds awfully high. Does it cost a lot to operate/accept payment via the mobile phone companies?

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LTC: LMS7SqZJnqzxo76iDSEua33WCyYZdjaQoE
WARlrus
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November 30, 2011, 02:26:28 PM
 #77

£10 for 1BTC sounds awfully high. Does it cost a lot to operate/accept payment via the mobile phone companies?

It is indeed quite expensive to accept payment in this way, however it has been a while since the margins were re-calculated, I'll do some re-thinking of prices shortly :-)

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
WARlrus
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March 03, 2012, 04:11:03 PM
 #78

Apologies for the recent downtime - I had under-estimated demand yet again, and was running out of coins quicker than I could put them in!

The site is now back up and running :-)

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
molecular
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March 03, 2012, 06:51:23 PM
 #79

Apologies for the recent downtime - I had under-estimated demand yet again, and was running out of coins quicker than I could put them in!

The site is now back up and running :-)

not on linode, I guess Wink

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WARlrus
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March 03, 2012, 07:02:39 PM
 #80

not on linode, I guess Wink

Heh, thankfully not!

http://www.textcoin.co.uk - Buy BitCoins through SMS
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Like what I'm doing? Donations gratefully accepted! 1MneReqjvzwqCFDVqnejGkNFEWLb2P875R
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