Bitcoin Android Released
github.com
github.com
The exchange of value outside of the established models (Gov't issued currency / PayPal / Google Checkout / next iteration thereof) has the potential to provide a huge opportunity for those of us involved in the space of online media and web applications.
Mobile implementations to bring the utility of the Bitcoin project into the palm of the hand bridge an intimidating virtual-to-real gap for many potential users.
In my opinion, the development of this mobile application, as well as similar projects, is a first step towards the more widespread adoption of the Bitcoin currency, in whatever (hopefully at least semi-legal, and legitimate) form it may finally take.
I'll observe with great interest.
There is also mtgox vouchers-app: http://forum.bitcoin.org/index.php?topic=25307.0
These apps use QR codes, but I think the way to go is NFC communication.
The benefit is instant transactions with server-client model, but on the downside you have to rely on 3rd party. I think it isn't that big downside, since you have always handed your money to 3rd party before bitcoin...
It's still early to push any cloud wallet solution for the mass market. Until any of these services build up trusted reputations, handling the transactions on the phone is the best way to go for the average user. Setting up personal servers works for nerds like us, but isn't a general enough solution.
I agree though, I think a thin-client or server-client model would be better long run. There just isn't a service I'd trust with it currently.
The latest compressed blockchain download available here at the time of writing is 280MB: http://bitcoin.bluematt.me/bitcoin-nightly/blockchain-nightl...
It is known that even PCs won't be able to handle the full blockchain eventually, let alone smartphones. Supernodes will be needed if bitcoin becomes popular. https://en.bitcoin.it/wiki/Scalability
edit: I see now that there is indeed a 14MB blockchain file in the source: https://github.com/barmstrong/bitcoin-android/blob/master/as.... I suppose this is not the full blockchain, but just the block headers. This is described as "Simplified Payment Verification" in Satoshi's paper.
one click * HN user base = global time saving :)
I think the biggest reason why bitcoin is so fast to innovate is that there is no barrier to entry, which means that anyone can create bitcoin android client. But if you want to create dollar-based android payment software, you have to be either visa or mastercard, or some big bank.
There are barriers to entry, such as laws; Bitcoin simply ignores them. Without real merchants, Bitcoin is useless to me no matter how fast it innovates. And even if it were useful, it's still [going to be] illegal.
Also, merchants don't have to jump through any of the bank's hoops to accept Bitcoin.
A grassroots initiative like this can allow for global, low-cost, payments from your mobile phone, without needing to wait for slow banking innovation.
Right, it is still not a given that it will succeed, but it's much to early to dismiss it...
Seriously though, it seems like Bitcoin is really vulnerable to this sort of attack, no matter what "hardening" features are builtin to make mining harder. NSA can spend a week and kill it all off. Is there a way to block whole hash blocks that the NSA or someone else who might have a large chunk of the bitcoin market?
Still I wouldn't write it off so quick, it's the branding/legitimacy question along with traction among merchants and usd<->bitcoin that's holding it back right now.
With the financial trouble in Portugal, Spain and Greece and the imbalance in monetary and fiscal health (Contrast those 3 with Germany) within the EU, the Euro looks very shaky indeed.
One obvious question: is there anything to prevent someone from repackaging this, as it's open source, and modifying it to rob folks?
This relies on trust.
Does anyone remember Paypal updating their iPhone app last year to do SSL certificate verification because up until that point it was trivially MITM'able?