If bitcoin gets mass adopted, must we use our mobiles to buy?

[fredo123]

Reading this thread a question comes up to my mind.

If in the future, you can pay with bitcoin almost everywhere, how are you going to pay? The safest way to store your coins is to use a hardware or paper wallet (properly created). But in order to pay for a coffee at the coffee shop you can’t use it, unless you carry your laptop or tablet everywhere.

Using your mobile isn’t safe. At least as safe as using hardware or paper wallets. So, how do you think it will be done? Transferring just small amounts to your mobile? Maybe hardware wallets will have a mobile version?

I guess, there will be new sprouting methods to transact btc, Perhaps there will be a new app also to support the new digital assets. I know that innovations are gradually changing depends on the mass trends. Mobiles are good enough but when it comes to security, of storing huge amounts, much safer to use hardware wallets as of now,

[goaldigger]

The most efficient and effective way to transact is by using mobile phones. People have it in hands even on the bathroom so it would be more convinient than laptop. Dont need to bother because if people wants to steal something from you,even you have that physical wallet or e wallet, its not safe.

[centive]

Not always, there are mobile wallets, desktop wallets and also cold storage hardware wallets as well. Boy there were paper wallets before as well. So you can pretty much proceed it from various places, but the point is how safe and secure these origins are. One thing for sure never keep your entire holdings on exchanges, you will pretty much regret it.

[seoincorporation]

<...>

Probably, cell phones are going to be used as credit cars everywhere if crypto becomes mainstream. When I give it a thought I always picture myself feeling like an old man. I mean: probably our parents couldn't imagine that everyone would be willing to share all their personal data in a public "mural", as now the people do every day on Facebook, Instagram and such. Probably, they thought about that as something truly dangerous, for anyone can assume your identity and steal your information; probably they would think about it as impossible.
When the firsts platforms of buying/selling appeared, I remember my family saying to me that I was crazy for buying stuff on the internet (my mother still things this way).
So, I'm afraid that now we are in that position: we think about the use of cell phones as a mainstream way of using crypto as something crazy, for it is easy to see how insecure it is, but, in a world where everybody is sharing even their more personal information, every picture of the daily life, every name of their relatives and friends... well, man. Maybe we are the "oldies" in here, for, yet, the most probable use of the cryptos, if becoming mainstream, will be through the cell phone, and probably we will avoid that as many of us avoid facebook.

[BerneirBTC]

Reading this thread a question comes up to my mind.

If in the future, you can pay with bitcoin almost everywhere, how are you going to pay? The safest way to store your coins is to use a hardware or paper wallet (properly created). But in order to pay for a coffee at the coffee shop you can’t use it, unless you carry your laptop or tablet everywhere.

Using your mobile isn’t safe. At least as safe as using hardware or paper wallets. So, how do you think it will be done? Transferring just small amounts to your mobile? Maybe hardware wallets will have a mobile version?

Well maybe in future people use bitcoin to pay bills but not for small amounts like coffee, tea or drinks.It might be possible that in future bitcoin only use for big amounts like buying house, Car, sending big amount of money etc.

[Oasisman]

As far as the security of funds inside the mobile phone is concerned, the easiest option would be (for not so tech-savy people) putting just enough amount you planned to spend for the day in your mobile phone wallet from your hardware wallet. Its like withdrawing funds from your bank and put it inside your wallet.
Certain security steps could be done, as we are responsible for our own safety.

[Marveill]

I guess mobile physical wallet will be created and they will contain the most part of cryptos that will be mainly adopted.
I see it like contemporary debit cards that are able to pay also in fiat different from the loaded one, taking some fees for the exchange.

I imagine it, with a sort of QR code, and a private code to increase security

Small amount can cost some extra charges you're giving 5$ for just one cup of tea.Anyways its hard to bring your laptop to restaurant or just for the sake of Tea or coffee.You can use your mobile app too.

[Yurkov]

Reading this thread a question comes up to my mind.

If in the future, you can pay with bitcoin almost everywhere, how are you going to pay? The safest way to store your coins is to use a hardware or paper wallet (properly created). But in order to pay for a coffee at the coffee shop you can’t use it, unless you carry your laptop or tablet everywhere.

Using your mobile isn’t safe. At least as safe as using hardware or paper wallets. So, how do you think it will be done? Transferring just small amounts to your mobile? Maybe hardware wallets will have a mobile version?

for me this is the same like when we are "using our money" with our mobiles with banks app, for me it works in some way the same so we don't need to be that worried about those changes which are focuse on our phones.

[samtasse1488]

I have not watched or read the news any more. It was said that the refugee of other countries (like in Germany there was a reportage), there refugees in the cafe used bitcoin wallets. The government gave them money and they bought something to buy coffee or food, they just went to the cash register and the person's face or eyes were read using a special camera. He just looked at the camera and she removed from his account a certain amount for the purchase.
So we will rather use the same in the future when taking in many countries a crypto currency. Just just looking at the camera at the checkout.

[Marlo Stanfield]

It's going to be much more safe for people to use a small USB key type sized wallet that's not connected to any network. They can use this to sign transactions, and not have them lose any money to hacks or exploits.

[veleten]

why MUST? you can use any device you like
personally,I don't trust enough mobile devices to store anything of value,wallets included (unless it is some spare change)
with mass adoption there might be specialized devices sold,including plastic cryptocards or mobile deviced designed to store/exchange/sell cryptocurrencies
it sounds like a sci-fi fiction at the moment,but lets wait several years and see

[Rath_]

why MUST? you can use any device you like

You can use any device, of course. Good luck with copying out the address while standing in front of cashier. In my opinion, QR codes are the best choice for now.

with mass adoption there might be specialized devices sold,including plastic cryptocards or mobile deviced designed to store/exchange/sell cryptocurrencies

Actually, there are services which allow you to top up your payment card with bitcoins which are automatically exchanged to any fiat while paying. I don't see any point in using a mere piece of plastic when we can simply scan a QR code or make use of NFC which becomes more and more popular in modern smartphones.

[Crypto_Sassy]

Reading this thread a question comes up to my mind.

If in the future, you can pay with bitcoin almost everywhere, how are you going to pay? The safest way to store your coins is to use a hardware or paper wallet (properly created). But in order to pay for a coffee at the coffee shop you can’t use it, unless you carry your laptop or tablet everywhere.

Using your mobile isn’t safe. At least as safe as using hardware or paper wallets. So, how do you think it will be done? Transferring just small amounts to your mobile? Maybe hardware wallets will have a mobile version?

I think this is practically not going to happen in near future, at least not before the lightning network become fully functional for masses.
How can 7 tps will survive the mass adoption? Anyway nobody is going to pay for cup of coffee in bitcoin if 1 confirmation take 10 minutes.

Apart from mobile phone apps, I guess some kind of Credit Cards by reputable bank also may come into picture iff for instant transactions


iff => If and only If Bitcoin is mass adopted for daily purchases.

[bob123]

How can 7 tps will survive the mass adoption?

It won't. Thats the reason the lightning network is in development. The LN will scale to 10k+ transactions per second.

Anyway nobody is going to pay for cup of coffee in bitcoin if 1 confirmation take 10 minutes.

You don't need to.
It is safe to accept 0-conf payments for low value payments (e.g. a coffee), especially if you are buying it physically (not via internet).

And in future you also won't have to since the lightning network will allow instant payments.
I guess you have a few seconds to wait, from payment until you coffee is actually done? Because in this timeframe you can do multiple payments back and forth, all confirmed.

Apart from mobile phone apps, I guess some kind of Credit Cards by reputable bank also may come into picture iff for instant transactions
iff => If and only If Bitcoin is mass adopted for daily purchases.

Using Credit cards (issued by a bank) would destroy the whole purpose.
If you insist on using a plastic card + trusting the screen of the vendor, get ready to buy a physical 'hardware wallet' in CC format with NFC.
Same mechanism, just without trusting a bank which will again take fees from the vendor..

[Crypto_Sassy]

How can 7 tps will survive the mass adoption?

It won't. Thats the reason the lightning network is in development. The LN will scale to 10k+ transactions per second.

Anyway nobody is going to pay for cup of coffee in bitcoin if 1 confirmation take 10 minutes.

You don't need to.
It is safe to accept 0-conf payments for low value payments (e.g. a coffee), especially if you are buying it physically (not via internet).

And in future you also won't have to since the lightning network will allow instant payments.
I guess you have a few seconds to wait, from payment until you coffee is actually done? Because in this timeframe you can do multiple payments back and forth, all confirmed.

Apart from mobile phone apps, I guess some kind of Credit Cards by reputable bank also may come into picture iff for instant transactions
iff => If and only If Bitcoin is mass adopted for daily purchases.

Using Credit cards (issued by a bank) would destroy the whole purpose.
If you insist on using a plastic card + trusting the screen of the vendor, get ready to buy a physical 'hardware wallet' in CC format with NFC.
Same mechanism, just without trusting a bank which will again take fees from the vendor..

Before answering me you totally ignored my below first line of comment.
"I think this is practically not going to happen in near future, at least not before the lightning network become fully functional for masses."
I am not following LN now but I think they are nowhere near to their mainnet release.

Only future will tell how this CC concept will go , but if in 1990 that you tell some body that if you pay with CC, you will get time of (max 51 days to 30 days) to pay full and in top of it you will 2-5 % cashback then guy will totally think you as insane or scammer at that time,

Who knows, if you give me 1% cashback in bitcoin and fraud protection then why should I bother to keep my mobile and hardware wallet.
(This will defeat the purpose of peer to peer currency but things changes with time)

[jiaybh]

Now that there are a lot of mobile wallets, Kcash supports bitcoin mobile payment. This technology will be smarter and more advanced.

[Stedsm]

I believe there are many wallets allowing Bitcoin transactions to be done through mobiles by providing Android and iOS wallets for your smartphones, including but not limited to Electrum, Greenwallet, etc. But, there is one big disadvantage to such a great convenience here: Possible hacks.
As almost the whole world is now aware of Bitcoins, they know that people are literally using such a technology in their mobile through these wallets and if these devices get stolen, hacks would be like a piece of cake for those thieves who will enjoy the victim's bitcoins. I really don't think anything is secure enough to tackle such situations, but it is better to have 2FA as well as very strong passwords enabled on our wallets, at least in order to gain some time to get their coins shifted to some other place by using their private keys.

[ranman09]

The traditional way is still the best and I think is the safest. I have BTCs on my Ledger Nano S and I only transfer some on my preferred online wallet that has a mobile app.

Sort of like using the mobile wallet app as a coin purse or a simple wallet that holds funds enough for the day. That I will not be that sad when I lost it.

[Ridwan Fauzi]

The most efficient and effective way to transact is by using mobile phones. People have it in hands even on the bathroom so it would be more convinient than laptop. Dont need to bother because if people wants to steal something from you,even you have that physical wallet or e wallet, its not safe.

Yep, everyone will definitely have a smartphone and he will keep carrying it anywhere. Unlike a laptop, sometimes someone will be reluctant to take it. But in addition, I want payment using cryptocurrency not merely bubbly with an internet connection, in the future I hope there will be a new innovation payment system using cryptocurrency system with offline.

[hulla]

I believe there are many wallets allowing Bitcoin transactions to be done through mobiles by providing Android and iOS wallets for your smartphones, including but not limited to Electrum, Greenwallet, etc. But, there is one big disadvantage to such a great convenience here: Possible hacks.
As almost the whole world is now aware of Bitcoins, they know that people are literally using such a technology in their mobile through these wallets and if these devices get stolen, hacks would be like a piece of cake for those thieves who will enjoy the victim's bitcoins. I really don't think anything is secure enough to tackle such situations, but it is better to have 2FA as well as very strong passwords enabled on our wallets, at least in order to gain some time to get their coins shifted to some other place by using their private keys.

Alot of wallet provider does allowed transaction to be through phones which was also the thing the OP already point out as no safe method if Bitcoin get mass adoption or mainstream. But I believe issuing a cryptocurrency credit or debit card will be best and safe way during such time.