How to Turn Bitcoin Into the Top Payment Network and the Currency of the Future

[Matthew N. Wright]

Yes, swiping a card then walking out the door with your items is so primitive.

I rather pay $49.99 for Bitpay's digital wallet with a 5 hour battery life, go through various menus, wait several seconds for the QR code to scan and finalize the transaction.

Oh wait, my battery died. I guess I won't be buying anything today.

Is there a gas leak in here? I swear, you guys are thinking like a failing toy company.

[CAUTION: YOU ARE ABOUT TO TAKE A LOOK INTO THE FUTURE]


http://en.wikipedia.org/wiki/LG_Optimus_One

[Jon]

Yes, swiping a card then walking out the door with your items is so primitive.

I rather pay $49.99 for Bitpay's digital wallet with a 5 hour battery life, go through various menus, wait several seconds for the QR code to scan and finalize the transaction.

Oh wait, my battery died. I guess I won't be buying anything today.

Is there a gas leak in here? I swear, you guys are thinking like a failing toy company.

That’s the dumbest thing I have ever heard anyone say in my life. You do realize that all mainstream financial institutions are already heading this direction, don’t you genius?

Have you ever considered shitting out of the other side of your body like the rest of the world!

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

[shata]

Ill tell you know why this will never take off although this is a good idea. Ebay will never let bitcoin be accepted method.

[deslok]

I've paid for things with my phone, then again it's a bit more advanced than that trinket. Maybe Texas is just too backwards for high technology?

[Matthew N. Wright]

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

That's because you live in the armpit of assland Texas. Try coming to Asia where we make everything you get 6 years before you get it. I use my phone to pay for everything. Please step aside and let the adults talk.

[Jon]

I've paid for things with my phone, then again it's a bit more advanced than that trinket. Maybe Texas is just too backwards for high technology?

Try again. Austin is second to Silicon Valley in tech.

[Matthew N. Wright]

I've paid for things with my phone, then again it's a bit more advanced than that trinket. Maybe Texas is just too backwards for high technology?

Try again. Austin is second to Silicon Valley in tech.

Sure is! And even Silicon Valley itself sucks balls compared to Japan, Korea, Taiwan and China.

EDIT: Americans are really good at standardizing things. Asians are really good at getting them out the door, that's why there are more lawsuits and safety issues against Asian products than even US products. You sir, are in the wrong country to be talking about imaginary ideas that need to be made and tried before they can work. America is more about proving something can work before it does.

[Jon]

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

That's because you live in the armpit of assland Texas. Try coming to Asia where we make everything you get 6 years before you get it. I use my phone to pay for everything. Please step aside and let the adults talk.

Asia is a different culture. What works for Asians may not always work fully for Americans and other peoples.

[Matthew N. Wright]

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

That's because you live in the armpit of assland Texas. Try coming to Asia where we make everything you get 6 years before you get it. I use my phone to pay for everything. Please step aside and let the adults talk.

Asia is a different culture. What works for Asians may not always work fully for Americans and other peoples.

It is a different culture indeed, and as I've pointed out numerous times, I truly believe that Bitcoin is essentially useless to Koreans for example who can wire transfer over their cell phone in the same amount of time it would take to send bitcoins, all from a secured, locked down, government backed and insured bank of 100+ years history without incurring any fees at all.

That right there though only works in a country as small as Korea for legal reasons alone. Having something like that in the USA would be a nightmare for legal and financial reasons. And that is exactly my point. America hasn't been the "leader" in technology in a long, long time. Right now it's the anvil of the technology world-- solid, but weighing everything else down.

[payb.tc]

2. make a [mtgox] account and load it with some money

anyone care to break this step down into it's 483 sub-steps?

[deslok]

2. make a [mtgox] account and load it with some money

anyone care to break this step down into it's 483 sub-steps?

step 72 includes handing over your firstborn

[ArticMine]

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

That's because you live in the armpit of assland Texas. Try coming to Asia where we make everything you get 6 years before you get it. I use my phone to pay for everything. Please step aside and let the adults talk.

Asia is a different culture. What works for Asians may not always work fully for Americans and other peoples.

It is a different culture indeed, and as I've pointed out numerous times, I truly believe that Bitcoin is essentially useless to Koreans for example who can wire transfer over their cell phone in the same amount of time it would take to send bitcoins, all from a secured, locked down, government backed and insured bank of 100+ years history without incurring any fees at all.

That right there though only works in a country as small as Korea for legal reasons alone. Having something like that in the USA would be a nightmare for legal and financial reasons. And that is exactly my point. America hasn't been the "leader" in technology in a long, long time. Right now it's the anvil of the technology world-- solid, but weighing everything else down.

Until they wish to purchase a product or service from a US Website without a Credit Card. International cross culture online transactions is where Bitcoin will shine, not in person local transactions where there is already a smorgasbord of payment methods  to choose from. Reading this thread is like watching a bunch of people argue on the most effective way to pick the fruit right at the top of the tree when is an abundance of ripe fruit ready to be picked right at arms length. I say pick the easy fruit first, feast, and then worry about the fruit at the top of the tree.

[BitPay Business Solutions]

Yes, let's replace cheap plastic, disposable cards with an expensive device. Let's require all the poor people out there to invest in electronics.

youre missing the point.  people already have these devices.  There are a billion camera phones in the world.  There's no need to buy an expensive device.  We can build the future with software, all software.  Ditch the plastic cards and start making digital wallets that can work on any phone.

M-PESA in Africa sends payments by SMS text message.  we can do that with bitcoin, someone should figure it out.

Oh Tony, you seem to have missed the point..

A $50 device with 5 hours of battery life, a 3g connection, a camera, and a solid, utilitarian style. -- compatible with the steve jobs look -- is the only way to ensure that BecauseBitcoin.com is prominently displayed for all the other turtle neck wearing woolong device carrying citizens; Citizens who will then know that you, Tony, have graduated into the inner sanctum of digital hip.

Because, Bitcoin.

Jonathan  I don't want to carry multiple devices around.  Give me something where I can use bitcoin easily on the devices I already carry with me everywhere.

Facebook doesn't have a device, and the facebook wallet will be strictly software also.  and 800 million people can use it.

[nebulus]

Using the Android Bitcoin client:

1. Get out phone.
2. Tap app symbol.
3. Scan QR code on website
4. Enter amount
5. Tap send.
6. Product is on its way!

That's it.

Don't worry. We are getting there.

Thumbs up! This is the future...
One question: Wouldn't PayPal be able to do exactly the same thing if they wanted to?

[niko]

A stolen Bitcoin private key will result in a very small loss according to my system.

You have yet to prove using multiple cards with various amounts will result in a likely chance of significant loss:

It won't.

I stand by my system completely. Getting ripped off with my system is as likely as your waitress refusing to give you change out of a $50 bill.

Son, there is no system. There is only a very vague idea. I appreciate the fact that you are thinking and coming up with ideas, but I don't appreciate pompous bullshitting.  If you ever actually start developing a system around the ideas you outlined, you might notice that the devil is in the details. More likely, you won't even notice, but you will continue working immersed in arrogance.

[stochastic]

In summary, follow these two steps and Bitcoin will be the currency of the future.

You're welcome.

Wow so cool.  When are you going to implement this and open up your company?

[stochastic]

Yes, swiping a card then walking out the door with your items is so primitive.

I rather pay $49.99 for Bitpay's digital wallet with a 5 hour battery life, go through various menus, wait several seconds for the QR code to scan and finalize the transaction.

Oh wait, my battery died. I guess I won't be buying anything today.

Is there a gas leak in here? I swear, you guys are thinking like a failing toy company.

That’s the dumbest thing I have ever heard anyone say in my life. You do realize that all mainstream financial institutions are already heading this direction, don’t you genius?

Have you ever considered shitting out of the other side of your body like the rest of the world!

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

In many other places in the world, this is how they transect purchases.  I was in Congo a few months back and saw all these people go to a store and play with their phone at the cash register.  I didn't know what they were doing and the sales person showed me how they can send money to each via SMS.  I thought, why don't we do this in America?

I guess it doesn't matter anyway.  "Boss" is on my ignore list.

[ArticMine]

Yes, swiping a card then walking out the door with your items is so primitive.

I rather pay $49.99 for Bitpay's digital wallet with a 5 hour battery life, go through various menus, wait several seconds for the QR code to scan and finalize the transaction.

Oh wait, my battery died. I guess I won't be buying anything today.

Is there a gas leak in here? I swear, you guys are thinking like a failing toy company.

That’s the dumbest thing I have ever heard anyone say in my life. You do realize that all mainstream financial institutions are already heading this direction, don’t you genius?

Have you ever considered shitting out of the other side of your body like the rest of the world!

I see nobody paying with their phone. Zero. Whatever the banks are doing is worth nothing. You people are stuck in a nerdy scifi dream world.

In many other places in the world, this is how they transect purchases.  I was in Congo a few months back and saw all these people go to a store and play with their phone at the cash register.  I didn't know what they were doing and the sales person showed me how they can send money to each via SMS.  I thought, why don't we do this in America?

I guess it doesn't matter anyway.  "Boss" is on my ignore list.

It does not happen in the United States because the United States has one of the most archaic and over regulated banking systems in the world. M-PESA is one of the most innovative financial products world wide and it is not available in "developed" countries because of banking regulations more often than not at the behest of the United Sates. By the way one of the really cool features of M-PESA is that one can walk into a store and purchase M-PESA for cash and have your M-PESA credited to your phone. 

Even here in Canada our banking system is decades ahead of the US system.

[EightBit]

2. make a [mtgox] account and load it with some money

anyone care to break this step down into it's 483 sub-steps?

step 72 includes handing over your firstborn

seriously.  This US citizen tech and finance savvy newbie is at day 9 attempting to buy $50 of BitCoin.  I think I might be able to by the end of the week.

[finway]

we need price to rise,
we need serious companies in,
flurish!