Bitcoin mining

Bitcoin mining network printer


Imagine if you have a kid mowing your lawn. In that case I think it would be much easier to hand him a bitcoin certificate for his work than trying to demand that he has bluetooth or a wireless device to receive the payment for services rendered.

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The idea of a web front-end with password protection is even less secure by a huge degree Mind you, this doesn’t necessarily have to be done with physical objects. You could “e-mail” bitcoins in this manner to somebody who doesn’t even have a Bitcoin node running, where they could even “redeem” the bitcoins for government-issued money straight away without even getting directly involved with Bitcoins.

As an alternative, the bitcoins could simply be in a thumb drive instead where you could transfer over the files to the merchant representing the bitcoins you wish to use for the purchase, and they could even return the “change” to you in a similar fashion. All in all, what you are suggesting here is far and away more complex than this paper currency system I’m suggesting here, and has been originally discussed at the start of this thread.

This is a very lightweight bitcoin transfer system that has electronics of any kind as an optional aspect, and can enable purchases even if network access is unavailable on a temporary basis. What keeps people honest here is that the values can be verified, and double spending is minimized through the verification process. Somebody who is double spending is committing fraud, which has existing legal implications. If they obtained those bitcoin certifications from a 3rd party, a legal investigation of fraud would then target that person who created those bogus bitcoin certificates in the first place.

Also, don’t get caught up in the technical details.

Installing the software

A 3-D bar code is there only to enable a higher density of information, not necessarily that it is superior to a 2-D or even 1-D like a UPC symbol bar code. Quote Quote I would also have to be convinced on the eco-friendly aspect of this too. You can print out quite a bit of paper for it to have the same environmental impact as the production of an iPhone.

You are also burning up a fair bit of coal for simply operating that device, or causing other sorts of environmental damage. I dont think people is going to decide if they own an iPhone depending on its capability as a bitcoin wallet. That is handwaving off the idea. I’m just saying that the environmental friendly aspect is not nearly as clear-cut as was previously indicated and shouldn’t be a rationale for dismissing this idea.

It shouldn’t even really play a part in this discussion, and to me is more of a wash in terms of potential environmental damage rather than a reason not to use this system. Quote Quote Also, all trade of any kind is a matter of trust between the customer and the merchant.

Choosing mining hardware

The question is how to reduce the threshold where distrust prevents a trade from happening. If you are in a situation where large numbers of Bitcoins in terms of value need to be transferred or if you really don’t trust either the merchant or the customer, you would need something a bit more complex for the transfer.

That is where cashier’s checks and other more secure fiscal instruments are used even in today’s business world. If you want a middle man that the merchant could trust there alredy exists internet bitcoin accounts.

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