Published on: 2014-03-10T19:47:55+00:00
In the given context, several discussions and email exchanges are explored regarding various aspects of Bitcoin technology and its potential applications. One topic discussed is the implementation of Bluetooth and NFC technology in wallets and point-of-sale (POS) systems. It is mentioned that supporting Bluetooth is optional but recommended, with an emphasis on the need to support all major wallets. The discussion also highlights the importance of hardware/software support and a polished user experience for Bluetooth integration. Additionally, the concept of generating PDF receipts and sending them via NFC is proposed to avoid an additional tap during payment, and the BIP70 payment protocol is suggested as a potential solution.Another email exchange focuses on the idea of using a self-signed certificate or HD wallet root as a means of gaining reputation within the Bitcoin ecosystem. The use of ECDSA signatures and a distributed store of signed messages is discussed as a way to establish a reputation score, with the aim of allowing any user to contribute to their reputation without requiring additional knowledge or infrastructure.The topic of transaction fees and their potential equilibrium is also addressed. It is suggested that with the update to Bitcoin v0.9, transaction fees will become floating and reflect real-world value. However, it is acknowledged that fees may fluctuate depending on system load. The concept of a stable currency, which gradually increases in value along with economic growth, is also mentioned, with the proposal of a fake currency backed by a basket of goods to maintain price stability.Furthermore, there are discussions on the use of iso-dep protocols for payment systems via cell phones and the challenges associated with it. Issues such as connection breaks when the phone is picked up and the risk analysis of memo fields are raised, along with suggestions for alternative methods such as HTTPS or Bluetooth. The importance of optimizing the payment process for speed and user experience is emphasized, with examples given of long wait times and excessive tracking experienced with existing payment systems.The context also mentions the possibility of integrating Bitcoin support into contactless payment systems, such as London's Oyster card system, without requiring hardware replacements. The aim is to make the payment process more intuitive and seamless, similar to other contactless payment methods.Overall, the discussions and exchanges in the context highlight various considerations and ideas for improving the usability, security, and integration of Bitcoin technology into existing payment systems. The importance of user experience, hardware/software support, and maintaining a consistent and intuitive payment process are recurring themes throughout the discussions.
Updated on: 2023-08-01T07:51:56.178373+00:00