Alan Reiner [ARCHIVE] on Nostr: 📅 Original date posted:2014-01-13 📝 Original message:On 01/13/2014 04:02 PM, ...
📅 Original date posted:2014-01-13
📝 Original message:On 01/13/2014 04:02 PM, Roy Badami wrote:
>> It's not public. When I say "please pay me" I also say "use this
>> multiplier".
> Sending a "please pay me" message is really great for business
> transactions.
>
> But I think the use case that Peter Todd mentions is actually *the*
> most important currently under-addresesd use case:
>
>> With stealth addresses the user experience can be as simple as you
>> telling me on the phone "hey! send me that 0.234 BTC you owe me!",
>> me clicking on "Send to Alan Reiner (verified by PGP)" (perhaps
>> again on my off-line second factor device for a multi-sig wallet)
>> and tellling you "OK, sent".
> Lots of work is being done on handling consumer-to-merchant
> transactions. BIP 70 does a good job of tackling the online purchase
> case, and the work that Andreas Schildbach is doing with Bluetooth and
> NFC will improve the options for a payer in a physical PoS transaction
> who might not have Internet connectivity on their smartphone.
>
> But relatively little work (that I know of) is being done on
> non-transactional personal payments - that is, being able to pay money
> to friends and other people that you have a face-to-face relationship
> with.
>
> What I want... no need... is to be able to open my wallet, select a
> friend from my address book, and transfer the $10 I owe them from the
> bar last night.
>
> I don't care - within reason - what process is involved in getting my
> friend set up in my address book. That may well requires two way
> communication (e.g. over NFC). But once it's set up, I should be able
> to just select the payee from the address book and send them some
> funds. Anything else is just too complciated.
>
> I don't know if stealth addresses are the best solution to address
> this use case, but AFAIK the only current solution to this use case is
> to store a long-lived Bitcoin address in the addresss book.
>
> roy
>
Fair enough. I haven't spent much time thinking about that use case.
Though, I question the feasibility of anything that requires O(N) EC
multiply operations/sec, where N is the total volume of transactions
moving over the network. But I guess if the prefix is big enough, the
scanning operations will remain feasible forever.
Published at
2023-06-07 15:11:55Event JSON
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"content": "📅 Original date posted:2014-01-13\n📝 Original message:On 01/13/2014 04:02 PM, Roy Badami wrote:\n\u003e\u003e It's not public. When I say \"please pay me\" I also say \"use this\n\u003e\u003e multiplier\".\n\u003e Sending a \"please pay me\" message is really great for business\n\u003e transactions.\n\u003e\n\u003e But I think the use case that Peter Todd mentions is actually *the*\n\u003e most important currently under-addresesd use case:\n\u003e\n\u003e\u003e With stealth addresses the user experience can be as simple as you\n\u003e\u003e telling me on the phone \"hey! send me that 0.234 BTC you owe me!\",\n\u003e\u003e me clicking on \"Send to Alan Reiner (verified by PGP)\" (perhaps\n\u003e\u003e again on my off-line second factor device for a multi-sig wallet)\n\u003e\u003e and tellling you \"OK, sent\".\n\u003e Lots of work is being done on handling consumer-to-merchant\n\u003e transactions. BIP 70 does a good job of tackling the online purchase\n\u003e case, and the work that Andreas Schildbach is doing with Bluetooth and\n\u003e NFC will improve the options for a payer in a physical PoS transaction\n\u003e who might not have Internet connectivity on their smartphone.\n\u003e\n\u003e But relatively little work (that I know of) is being done on\n\u003e non-transactional personal payments - that is, being able to pay money\n\u003e to friends and other people that you have a face-to-face relationship\n\u003e with.\n\u003e\n\u003e What I want... no need... is to be able to open my wallet, select a\n\u003e friend from my address book, and transfer the $10 I owe them from the\n\u003e bar last night.\n\u003e\n\u003e I don't care - within reason - what process is involved in getting my\n\u003e friend set up in my address book. That may well requires two way\n\u003e communication (e.g. over NFC). But once it's set up, I should be able\n\u003e to just select the payee from the address book and send them some\n\u003e funds. Anything else is just too complciated.\n\u003e\n\u003e I don't know if stealth addresses are the best solution to address\n\u003e this use case, but AFAIK the only current solution to this use case is\n\u003e to store a long-lived Bitcoin address in the addresss book.\n\u003e\n\u003e roy\n\u003e\n\nFair enough. I haven't spent much time thinking about that use case. \nThough, I question the feasibility of anything that requires O(N) EC\nmultiply operations/sec, where N is the total volume of transactions\nmoving over the network. But I guess if the prefix is big enough, the\nscanning operations will remain feasible forever.",
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