05 Jun '13, 2am

My Bitcoin Project: Bitcoin Machine Toll Service via @Reddit

So it takes 60 minutes to do a bitcoin transaction where I send money from my address to yours. Bittoll operates as a transaction server, where you can request a toll from someone, and they can pay it (assuming they have money on the server) in ~200ms. Now the tricky part is getting money on the server. You can deposit money into the server from the bitcoin network, but you still have to pay the 60 minute lag. Or you can bitcoin mine directly from the server, and spend the money immediately (Since the server can guarentee the money will apear in the future). It still takes time to have the money withdrawn but for small tolls it is possible to mine enough with your laptop/smartphone/web browser to pay the toll within a second and without the user perceiving the delay. Basically I wanted to do awesome things with the bitcoin network like charge 1 cent per email sent, and I n...

Full article: http://www.reddit.com/r/Bitcoin/comments/1fotcm/my_bitcoi...

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