Roy Badami [ARCHIVE] on Nostr: 📅 Original date posted:2014-01-13 📝 Original message:> It's not public. When I ...

📅 Original date posted:2014-01-13
📝 Original message:> 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