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Author Topic: Payment solutions similar to Bitcoin  (Read 1781 times)
istar
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December 14, 2011, 04:43:02 PM
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Next year Visa will launch V.me

Its similar as a payment solution in that it allows you to buy without giving away your details and make it simple.

Daopay is a simple way to use you mobile to pay.
http://www.daopay.com/

What kind of impact will these have on the value of Bitcoins?

Why should avarage joe really care about Bitcoins next year when he/she could use a simple solution from another company such as Visa/google etc.



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December 14, 2011, 04:51:07 PM
 #2

Next year Visa will launch V.me

Its similar as a payment solution in that it allows you to buy without giving away your details and make it simple.

Daopay is a simple way to use you mobile to pay.
http://www.daopay.com/

What kind of impact will these have on the value of Bitcoins?

Why should avarage joe really care about Bitcoins next year when he/she could use a simple solution from another company such as Visa/google etc.




These things are not decentralized like virtual cryptocurrency is.  The human trust factor is still there.

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December 14, 2011, 04:54:24 PM
 #3

Fees? Security features? Charge backs? Still sounds like a credit/debit card.

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December 14, 2011, 05:02:43 PM
 #4

What's new ?
 It's a paypal-like payment means, i.e a bank card wallet: it's still using a credit card transaction processing network with the expensive fees and chargebacks borne by the merchant.

there are a number of companies already providing similar services.

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December 14, 2011, 05:32:02 PM
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Bitcoin is not a payment solution.
It's more a currency or a commodity or a virtual good.
The dollar and the euro are not payment solutions either.

On top of these, payment solutions can be build to exchange euros/dollar/bitcoins.
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December 14, 2011, 05:44:00 PM
 #6

Bitcoin is not a payment solution.
It's more a currency or a commodity or a virtual good.
The dollar and the euro are not payment solutions either.

On top of these, payment solutions can be build to exchange euros/dollar/bitcoins.


yeah, let's do it

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December 14, 2011, 06:43:17 PM
 #7

Bitcoin is not a payment solution.
It's more a currency or a commodity or a virtual good.
The dollar and the euro are not payment solutions either.



It's both. The Bitcoin client software and p2p network is a payment system. The unit of account (bitcoin) that works on that network is a currency.

Sometimes I wonder if it would've been a better marketing/branding decision to use two names for these components - something like "Bitnet" for the p2p network and client, and "Bitcoin" for the currency. Not sure...
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December 14, 2011, 06:50:47 PM
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I guess if you want to have a central authority, you could seed all of the initial coins into one account to be distributed or returned to them on a fixed dollar exchange rate. Essentially making dollars with all of the flexibility of Bitcoin. The problem is that there is no incentive to maintain the network, and it depends entirely on a central authority.

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December 14, 2011, 07:03:00 PM
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Its similar as a payment solution in that it allows you to buy without giving away your details and make it simple.

False. You still need to give your details to VISA. Visa just promises not to pass it to the merchant that's all. Visa is still the single point of failure here.
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December 14, 2011, 08:15:11 PM
 #10

Its similar as a payment solution in that it allows you to buy without giving away your details and make it simple.

False. You still need to give your details to VISA. Visa just promises not to pass it to the merchant that's all. Visa is still the single point of failure here.

Yeah, and in that way it's no different than Paypal.
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December 15, 2011, 02:00:31 PM
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Here's an interesting new one in Australia: https://www.pygg.co/

Apparently you load your account via paypal, credit card or from your bank account...  pay people by tweeting(or by email).. and 'every transaction is free'.



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December 16, 2011, 01:15:08 AM
 #12

So, very secure VISA solution may lead to something like this: http://www.theregister.co.uk/2011/12/15/credit_card_processor_security_probed/

Over 10 000 random people got their credit cards blocked...

Wink

Similar to something we saw this summer, you say? Well, that's centralization...
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