Ninjastic
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Board Bitcoin Discussion
Re: offline bitcoins + NFC = the end of era of current financial system (?)
by
odolvlobo
on 26/01/2014, 04:30:12 UTC
Quote from: beeblebrox on January 25, 2014, 11:41:20 PM
Quote from: odolvlobo on January 25, 2014, 05:48:01 PM
Quote from: beeblebrox on January 25, 2014, 07:40:21 AM
I think you guys don't realise that ability to do off-chain transactions electronically already exists: https://bitcointalk.org/index.php?topic=321085.0
It is quite easy to extend this system to do off-line NFC transactions also (in fact the creator of the project intends to implement this I believe).
The way these off-chain transaction work is basically an electronic equivalent of a Casascius coin....

And like the Casascius coin, it is susceptible to hacking and counterfeiting. How does your system detect duplicate keys sent from a hacked or counterfeit device?

It prevents counterfeiting with tamper resistent SD smart cards.  

I'm not sure you answered my question. When you receive tokens from somebody, how can you be sure that they have not been duplicated. Also, how can you be sure that their bitcoins have not been spent at times when you don't have access to the block chain?