BackBit the bit at the back of bitcoin, digital delivery concept.

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edit -> now crowdfunding a bounty www.startjoin.com/backbit


Hey guys, I've been working on this on and off for a while now, maybe all of this isn't new (as they say there's "nothing new under the sun")

Basically it's a digital delivery concept I've been working on including proposals to change the way that payment is processed for goods and services, hopefully leaving business and more people using and holding bitcoin.

Anyway, TL;DR (as if that's long ) website below.

http://backbit.co.uk/

[1862]

Hmm, that went well

[UberNifty]

This is way phreakin' awesome! I am salivating at all of the Equity Partner / Affiliate Partner venues of wildly lucrative opportunity that this BEGS to unleash.

Is the code / app available for immediate download? Open source? Java-based?

I've been deeply hungering for exactly such a thing of exquisite beauty! I'd even be willing to help out with documentation, tutorials, etc. (if indeed you're releasing it open source).

[1862]

Goodness me a reply! Apologies for the delay I thought everyone was apathetic towards my work and had stopped checking

BackBit is currently conceptual and all I have done so far is the framework for it and the business models, code wise it would be transparent to the client end so no 'app' as such would exist, BTC would be sent via users BTC wallet of choice, the code to process this would of course be at the back end (BackBit )

Thanks for your kind words, I do believe potential wise it's massive and RE: your open source question, quite honestly I'm at a fork in the road of how to proceed!

[UberNifty]

So would BackBit indeed work as I envision it (as a real-time affiliate partner / multiple equity partner payment split)? If so, how close is BackBit to being deployable, and what would it require to deploy? I probably will have many more ?'s, as I see BackBit a truly innovative technology (assuming that I'm actually even understanding correctly). 

My most immediate use for it would be in a similar manner as PayPal's adaptive payments layer, except with altcoins; particularly in regard to how 'equity partner' / affiliate partner payment splits work. Am I even thinking rightly, concerning BackBit?

[1862]

So would BackBit indeed work as I envision it (as a real-time affiliate partner / multiple equity partner payment split)? If so, how close is BackBit to being deployable, and what would it require to deploy? I probably will have many more ?'s, as I see BackBit a truly innovative technology (assuming that I'm actually even understanding correctly).  

Yep, you can take payment and instantly split BTC% as many ways as you want; each party then has BTC hit their wallet, they can hold BTC / cash out to fiat, or a mixture of both.

RE: how close to being deployable, I'm going to actively start looking for support from big and small players in the coming week (open to suggestions!) It would need a 'handler' developing, that's pretty much the keystone to the project given that the rest works on the already existing BitCoin feature-set.

My most immediate use for it would be in a similar manner as PayPal's adaptive payments layer, except with altcoins; particularly in regard to how 'equity partner' / affiliate partner payment splits work. Am I even thinking rightly, concerning BackBit?

You are yes, and it would indeed work with any altcoins as long as they're dividable in a similar way to BitCoin (which all are) multi coin payment is also quite easy to offer.


Your questions are helpful and suggest I need to perhaps tidy up/refine the website

[coinnewbit]

This seems like the next big thing to hit bitcoin.

[UberNifty]

RE: your open source question, quite honestly I'm at a fork in the road of how to proceed!

One possibility to strongly consider, is to approach BackBit in a similar manner to Open-Transactions. While OT was open sourced from the word go, it also has a commercial counterpart.

It would need a 'handler' developing, that's pretty much the keystone to the project given that the rest works on the already existing BitCoin feature-set.

What are the server requirements, and is it feasible to port BB into a stand-alone WP plugin?

multi coin payment is also quite easy to offer

Is this to say that adding additional altcoins would be (relatively) easy? Forgive me, as I am not a coder.

EDIT: Typos

[1862]

This seems like the next big thing to hit bitcoin.

 Thanks

RE: your open source question, quite honestly I'm at a fork in the road of how to proceed!

One possibility to strongly consider, is to approach BackBit in a similar manner to Open-Transactions. While OT was open sourced from the word go, it also has a commercial counterpart.

It would need a 'handler' developing, that's pretty much the keystone to the project given that the rest works on the already existing BitCoin feature-set.

What are the server requirements, and is it feasible to port BB into a stand-alone WP plugin?

multi coin payment is also quite easy to offer

Is this to say that adding additional altcoins would be (relatively) easy? Forgive me, as I am not a coder.

EDIT: Typos

Apologies for the delay, I've been off eating far too much chocolate.

Very interesting point regarding BB into a WordPress plugin (apologies if WP meant something else!) I guess there's nothing stopping a free variant of this concept for small and or non profit use, it could be inserted into a small website widget however I see potential hurdles occur with not the payment, but the processing of 'what next' if that makes sense, ie is a digital good then distributed, if so how would the plugin then behave in order to achieve this? As a standalone WP plugin this is potentially tricky.

Commercially it's difficult to say on what kind of grunts needed, I envisage it on a cluster if a serious player were to adopt, though this would need to be proven up in the future with proof of concept work and testing.

Altcoins, yes I'm also not a programmer and perhaps I'm trivialising the work involved but I would have thought if you can accept and redistribute BTC using this concept then given that most alts, are, to be kind 'very similar' you could do those too, I appreciate this viewpoint may be a little out of whack with reality there


I'm going to do some minor changes to the website and give BitPay a nudge to take a look at this thread in a couple of hours. Once again thanks for your great feedback.

[UberNifty]

Very interesting point regarding BB into a WordPress plugin (apologies if WP meant something else!)

Spot on!

I guess there's nothing stopping a free variant of this concept for small and or non profit use, it could be inserted into a small website widget

Actually I'm thinking a 'child' plugin; dependent on a 'parent' plugin via the applicable API. How big is the codebase, and do you think would it run fine on each individual end user's web host (i.e. HostGator et al)?

however I see potential hurdles occur with not the payment, but the processing of 'what next' if that makes sense, ie is a digital good then distributed, if so how would the plugin then behave in order to achieve this? As a standalone WP plugin this is potentially tricky.

Hence why I envision it as a child plugin that essentially becomes a WP addon plugin, specific to the parent plugin it was ported to.
 Again, I humbly must confess I am no coder; albeit I do get the 'flow' of how these things work.

With your permission, I'd like to request a copy of your codebase under whatever licensing option you're most comfortable with. In return, I will help you establish the real-world, in-the-field preliminary test data you hunger for; provided WordPress Plugin Jedi extraordinaire, Pippin Williamson, attests to the practicality of embedding your seemingly kickass framework into a child plugin.

As luck would have it, Pippin also happens to be the founder of Easy Digital Downloads. EDD is the Industry Leader of digital product management / shopping cart systems. And it's not hard to see why it's so highly rated on WordPress.org. It's the only WP ecommerce plugin that I'll ever use. I am eagerly hoping that Pippin will see it as totally viable. That would be the Cat's Pajamas!

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The whole thing is conceptual atm, I'm under no illusion that I can conjure this all up myself, I am happy to slice the pie and include others as needed, hence it being here in project development

[1862]

https://www.startjoin.com/backbit

Now crowdfunding a bounty to make this real.