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Author Topic: bitcoincard.org  (Read 27171 times)
rjk
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June 05, 2012, 12:20:17 AM
 #161

Don't mind Matthew, he seems to be back trolling stating his opinions as a developer for almost a year now of what Bitcoincard is trying to develop but is going to fail miserably at.


FTFY.
4-6 weeks?

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Matthew N. Wright
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June 05, 2012, 12:25:21 AM
 #162

Don't mind Matthew, he seems to be back trolling stating his opinions as a developer for almost a year now of what Bitcoincard is trying to develop but is going to fail miserably at.


FTFY.
4-6 weeks?

Not ready to make an announcement on it. All I can say is, they've got it wrong and it's sad too because (aside from the horrid menu and buttons) their vaporware video makes it look really cool and is getting a lot of people's hopes up, making it harder for us to get people to believe in an actually functional product. It's like coming out with an e-wallet service right after MyBitcoin.

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June 05, 2012, 12:26:41 AM
 #163

Don't mind Matthew, he seems to be back trolling stating his opinions as a developer for almost a year now of what Bitcoincard is trying to develop but is going to fail miserably at.


FTFY.
4-6 weeks?

Not ready to make an announcement on it. All I can say is, they've got it wrong and it's sad too because (aside from the horrid menu and buttons) their vaporware video makes it look really cool and is getting a lot of people's hopes up, making it harder for us to get people to believe in an actually functional product. It's like coming out with an e-wallet service right after MyBitcoin.

And you know this, how?

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
Matthew N. Wright
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June 05, 2012, 12:28:51 AM
 #164

Not ready to make an announcement on it. All I can say is, they've got it wrong and it's sad too because (aside from the horrid menu and buttons) their vaporware video makes it look really cool and is getting a lot of people's hopes up, making it harder for us to get people to believe in an actually functional product. It's like coming out with an e-wallet service right after MyBitcoin.

And you know this, how?

When we're ready to make an announcement, we will. And it won't be a cartoon showing how something might work someday if someone invests billions of dollars into something no one wants to invest in.

rjk
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June 05, 2012, 12:32:12 AM
 #165

Not ready to make an announcement on it. All I can say is, they've got it wrong and it's sad too because (aside from the horrid menu and buttons) their vaporware video makes it look really cool and is getting a lot of people's hopes up, making it harder for us to get people to believe in an actually functional product. It's like coming out with an e-wallet service right after MyBitcoin.

And you know this, how?

When we're ready to make an announcement, we will. And it won't be a cartoon showing how something might work someday if someone invests billions of dollars into something no one wants to invest in.
STFU or delivar. Your choice.

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June 05, 2012, 01:21:28 AM
 #166

I don't usually post useless and offtopic posts, but... I want one. No, actually I want 2 and I want them NOW !
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June 05, 2012, 12:36:28 PM
 #167

IF I could get them right now I would take 6 (maybe 15 and try to sell the idea to the rest of my family). BTW Im they posted a new video recently which demonstrated a bitcoin transaction.

I dont see why anyone is complaining about not backing them up or them getting lost. They work exactly like a debit card or one of those green dot cards. You load it with as much money as you need. Every month youd put 500BTC on the card to refill it for daily use. You shouldn't be carrying around your life saving in your pocket! You dont do that with cash or your debit card now, itd be silly to do that with this device.


mattewN when are we getting more information about that bitdex?

PS. Im already upset that it doesnt talk to me all the time like a pokedex Sad
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June 05, 2012, 12:54:36 PM
 #168

I am curious how this will be used for purchases without a camera.

Or a functional infrastructure i.e. way to connect to the actual blockchain.

Both functions are provided for in the same way, a 'sensor' mesh network that permits such devices to talk to each other, as well as an access point wireless dongle that permits all of these type devices to talk to the Internet at large.
That makes a lot of sense if it can talk to my Bluetooth phone with a built-in camera, smartphone, or whatever.

What makes no sense is to need to interface with your phone in the first place. It's like trying to sell a sports car that is pulled by a horse.

I didn't say anything about bluetooth.
No, the video said unlicensed radio. I do not know what that means in every country.

I have a pretty good idea, and a cell phone is unneccesary.
OK, I see it uses ISM bands. Bluetooth also uses ISM bands, so while it may not be Bluetooth, it seems to be using the same concept.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 05, 2012, 01:10:27 PM
 #169

mattewN when are we getting more information about that bitdex?

After Iceland I'll be flying to the USA for the next few months to work on it there with other projects as well. The prototype is already available, we're just working out the mass manufacturing. It's basically a money issue at this point. Making something of the magnitude we're planning (50,000 units at $30 a pop) will take about $1million cold and it won't move without $100k down, not to mention the fact that $100k is easily eaten by redesigning UI, debugging, molding, plates, PCBs, etc and any mistakes at the manufacturers. Not to mention marking and advertising budgets to get it into every store in the USA as a payment device.

This shit is big, but it has to be done right. I believe wholeheartedly that Bitcoincard is being done wrong in every way (advertising, branding, marketing, funding, design, technology, infrastructure, etc). We'll gladly let the free market decide though. The kickstarter goes up soon, but everything in this post is completely unofficial and nonbinding.

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June 05, 2012, 01:18:59 PM
 #170

mattewN when are we getting more information about that bitdex?

After Iceland I'll be flying to the USA for the next few months to work on it there with other projects as well. The prototype is already available, we're just working out the mass manufacturing. It's basically a money issue at this point. Making something of the magnitude we're planning (50,000 units at $30 a pop) will take about $1million cold and it won't move without $100k down, not to mention the fact that $100k is easily eaten by redesigning UI, debugging, molding, plates, PCBs, etc and any mistakes at the manufacturers. Not to mention marking and advertising budgets to get it into every store in the USA as a payment device.

This shit is big, but it has to be done right. I believe wholeheartedly that Bitcoincard is being done wrong in every way (advertising, branding, marketing, funding, design, technology, infrastructure, etc). We'll gladly let the free market decide though. The kickstarter goes up soon, but everything in this post is completely unofficial and nonbinding.
That's awesome! Will I be able to use it at Barnes and Nobles to buy Bitcoin Magazine?

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
DeathAndTaxes
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June 05, 2012, 01:25:19 PM
 #171

I dont see why anyone is complaining about not backing them up or them getting lost. They work exactly like a debit card or one of those green dot cards. You load it with as much money as you need. Every month youd put 500BTC on the card to refill it for daily use.

500 BTC is ~$2500.  If my debit card stops working I don't lose $2500 the bank just issues me a new debit card.  Your analogy doesn't make much sense.  If anything you pointed out that without backups it is NOT like a debit card.  It is more like cash and personally I don't carry around $2500 in cash for the exact reasons of loss/theft.
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June 05, 2012, 01:29:21 PM
 #172

mattewN when are we getting more information about that bitdex?

After Iceland I'll be flying to the USA for the next few months to work on it there with other projects as well. The prototype is already available, we're just working out the mass manufacturing. It's basically a money issue at this point. Making something of the magnitude we're planning (50,000 units at $30 a pop) will take about $1million cold and it won't move without $100k down, not to mention the fact that $100k is easily eaten by redesigning UI, debugging, molding, plates, PCBs, etc and any mistakes at the manufacturers. Not to mention marking and advertising budgets to get it into every store in the USA as a payment device.

This shit is big, but it has to be done right. I believe wholeheartedly that Bitcoincard is being done wrong in every way (advertising, branding, marketing, funding, design, technology, infrastructure, etc). We'll gladly let the free market decide though. The kickstarter goes up soon, but everything in this post is completely unofficial and nonbinding.
That's awesome! Will I be able to use it at Barnes and Nobles to buy Bitcoin Magazine?

Rofl. The only way you'll be using any Bitcoin enabled payment device to buy the Bitcoin Magazine in Barnes in Noble is if you're buying it off our website while simply happening to be in Barnes and Noble.

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June 05, 2012, 03:25:44 PM
 #173

I dont see why anyone is complaining about not backing them up or them getting lost. They work exactly like a debit card or one of those green dot cards. You load it with as much money as you need. Every month youd put 500BTC on the card to refill it for daily use. You shouldn't be carrying around your life saving in your pocket! You dont do that with cash or your debit card now, itd be silly to do that with this device.

I just think it is a pity that it's only a device to spend coins. It's not that much better than a good smartphone app in that sense. Ok, much cooler, but functionally similar.
If it only had (1) different addresses per transactions and (2) the possibility to backup the addresses' seed, it would be more than a device to spend btcs, it would be the best device available to store all of your coins, due to its dedicated platform. The likelihood of a malware infecting this device is lower than any other solution we currently have. Add (3) hidden volumes for plausible deniability and you've got the "ultimate bitcoin wallet". Smiley

(btw, if 500BTC is your "daily use" which you can easily afford to lose, I envy you Tongue)
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June 05, 2012, 04:46:55 PM
 #174

I dont see why anyone is complaining about not backing them up or them getting lost. They work exactly like a debit card or one of those green dot cards. You load it with as much money as you need. Every month youd put 500BTC on the card to refill it for daily use.

500 BTC is ~$2500.  If my debit card stops working I don't lose $2500 the bank just issues me a new debit card.  Your analogy doesn't make much sense.  If anything you pointed out that without backups it is NOT like a debit card.  It is more like cash and personally I don't carry around $2500 in cash for the exact reasons of loss/theft.
okay so debit card can only be lost or stolen the money can still be spent by a thief and you can hope the bank will refund you. If a green dot card is lost or stolen your completely out of luck.

this card can be lost or stolen. The only other thing you need to worry about is breaking it. I was giving 500BTC as an explain. You would only put as much on the card as you would in your wallet.

@up
you can receive coins too. they showed that in the video sending coins to your friend on the street.

ya 500BTC was a bad amount to pick I figured it would last the month and you would reload it every month but even that is a lot. 20-100BTC would of been a better amount to use.
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June 05, 2012, 05:00:04 PM
 #175

you can receive coins too. they showed that in the video sending coins to your friend on the street.

FYI that is not a proven feature, it's a video to collect investments for development.

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June 06, 2012, 12:39:22 PM
 #176

That's awesome! Will I be able to use it at Barnes and Nobles to buy Bitcoin Magazine?

Rofl. The only way you'll be using any Bitcoin enabled payment device to buy the Bitcoin Magazine in Barnes in Noble is if you're buying it off our website while simply happening to be in Barnes and Noble.
I will definitely buy your magazine when it hits the bookstores in Dallas, TX with or without Bitcoin.

I don't usually post useless and offtopic posts, but... I want one. No, actually I want 2 and I want them NOW !
Ditto!

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 07, 2012, 02:10:37 PM
 #177

So now this uber light and slim card needs a dongle to function properly? The vapor thickens.
And the maximum range of the dongle is 100 metres according to the website. Presumably the card-to-card mesh communications will have, if anything, an even shorter range. I can't imagine this working terribly well somehow. Most likely the "mesh" functionality will end up being something that looks good on the spec sheet but isn't actually practical - at least not for Bitcoin payments - and the entire thing will be dependent on the fixed access points to work properly.

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June 07, 2012, 11:59:16 PM
 #178

So now this uber light and slim card needs a dongle to function properly? The vapor thickens.
And the maximum range of the dongle is 100 metres according to the website. Presumably the card-to-card mesh communications will have, if anything, an even shorter range. I can't imagine this working terribly well somehow. Most likely the "mesh" functionality will end up being something that looks good on the spec sheet but isn't actually practical - at least not for Bitcoin payments - and the entire thing will be dependent on the fixed access points to work properly.
I guess that would depend on population density. Though I wonder that since this is very low bandwidth communications, perhaps "dummy nodes" consisting of walletless transceivers couldn't be embedded everywhere from utility poles to business signs to mailboxes, etc.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 08, 2012, 12:55:47 AM
 #179

Question: how many p2p transactions can be stored and forwarded for later? If you aren't near a dongle, and other users are creating transactions near you, I assume that each device queues all the tx up until one of them gets near a dongle and spews the info onto the internet. Is there a practical imitation on the number of stored transactions? This assumes that it is a lightweight client, but if it is a full node that would be a bit different too.

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June 08, 2012, 01:47:37 AM
 #180

Question: how many p2p transactions can be stored and forwarded for later? If you aren't near a dongle, and other users are creating transactions near you, I assume that each device queues all the tx up until one of them gets near a dongle and spews the info onto the internet. Is there a practical imitation on the number of stored transactions? This assumes that it is a lightweight client, but if it is a full node that would be a bit different too.

There would be a practical limit, but it's one that's hard to predict.  It depends upon the input transactions that the device has in local storage, because it can only make transactions based upon the unspent inputs that it has since last connect.  It's not practically possible for a disconnected device (light or otherwise) to be able to use the change from a previous transaction as an input in a new transaction because all other devices should require that the change transaction have 6 confirms or at least a copy of the block's merkle tree as evidence that it's a valid transaction and not a double spend.  Since the device is disconnected, there is no way for it to have that evidence even if some other device has already forwarded the transaction to the network on it's behalf.  In practice, such a device is going to have to keep a set of seperate transaction inputs of varied sizes in order to make multiple payments between online sessions.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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