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Bitcoin MyWay Recharge?

imagineteamsol 23 January 2014 66

Hey everyone,

We’re super excited to announce we’ve crossed the 50,000 active user mark for our MyBus 2.0 app.

We wanted to do something special to thank everyone for their support, and we got tired of waiting for the real-time feeds to become available (the launch date has been a roving target…), so we decided to focus our attention on the MyWay recharge.

We’re trying to see what we can do to let users recharge their MyWay card in real-time (think tap your card to your phone type thing) rather than wait for 3-5 business days, but while we try to find the legitimate way to do that, we were wondering if any of you would be interested in recharging your MyWay cards using Bitcoin? Asides from the novelty of the idea, we’re strong supporters of the currency, and would love to bring some legitimate use cases for Canberra. It would also be interesting as it’d be the first transport agency in the world that (indirectly) allowed for use of Bitcoin for public transport.

We’re rolling it out over the next week or two, but wanted to know if it was something anyone thought useful? If not, what would you like to see added?

Thanks everyone!


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66 Responses to Bitcoin MyWay Recharge?
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imagineteamsol 5:52 pm 30 Jan 14

davo101 said :

imagineteamsol said :

Firstly, our privacy policy is quite clear. http://imagineteamsolutions.com/privacypolicy/

Your definition of clear seems to deviate quite widely from mine. Is that something like a 2000 word paragraph? Where does it address my MyWay login details as compared with my MyBus login/account details? To quote your “about the app”:

Your MyWay login details are kept private only on your phone, and used only with the official MyWay service.

Or to put it another way: Bullshit.

imagineteamsol said :

Lastly, you do know that the whole point of the MyWay system was to collect information on your travel habits? Or do you wear a tinfoil hat?

I’m quite aware of that and I’m quite happy for the ACT Government to know which buses I use and when. As for you guys…….

We do exactly that: “Your MyWay login details are kept private only on your phone, and used only with the official MyWay service.” We pass them through and do not store them anywhere. If you’re uncomfortable using the app, or don’t understand what I am quite clearly saying, its a free app, don’t use it.

davo101 4:19 pm 30 Jan 14

imagineteamsol said :

Firstly, our privacy policy is quite clear. http://imagineteamsolutions.com/privacypolicy/

Your definition of clear seems to deviate quite widely from mine. Is that something like a 2000 word paragraph? Where does it address my MyWay login details as compared with my MyBus login/account details? To quote your “about the app”:

Your MyWay login details are kept private only on your phone, and used only with the official MyWay service.

Or to put it another way: Bullshit.

imagineteamsol said :

Lastly, you do know that the whole point of the MyWay system was to collect information on your travel habits? Or do you wear a tinfoil hat?

I’m quite aware of that and I’m quite happy for the ACT Government to know which buses I use and when. As for you guys…….

imagineteamsol 3:16 pm 30 Jan 14

davo101 said :

imagineteamsol said :

Our server processes a MyWay balance check every 0.8 seconds on average, with peak traffic hitting 2000 MyWay balance checks a minute.

WTF!? Where does it say in your terms and conditions that my login details are being sent through your server? Forget trusting you guys to handle my topups I’m uninstalling the App; I don’t want to be part of your data harvesting exercise thank you very much.

Firstly, our privacy policy is quite clear. http://imagineteamsolutions.com/privacypolicy/

Secondly, we don’t “harvest” anything. Your details are passed through our server, and the response is parsed to be passed back to the phone in a meaningful way. The information is only kept in memory for the time that it needs to be there (~half a second if I was to guess)

Lastly, you do know that the whole point of the MyWay system was to collect information on your travel habits? Or do you wear a tinfoil hat?

davo101 9:08 am 30 Jan 14

imagineteamsol said :

Our server processes a MyWay balance check every 0.8 seconds on average, with peak traffic hitting 2000 MyWay balance checks a minute.

WTF!? Where does it say in your terms and conditions that my login details are being sent through your server? Forget trusting you guys to handle my topups I’m uninstalling the App; I don’t want to be part of your data harvesting exercise thank you very much.

watto23 9:18 am 29 Jan 14

I’ve been also reading about bitcoin and the silk road website. Its very interesting, and the idea of a digital currency is great. I just cannot see it ever replacing hard currency in a digital form, because there are many issues that make a governments job more difficult. No doubt that is part of the reason it was created. Why not let people recharge with paypal or another digital payment platform. Just as easy and heaps more usable.

imagineteamsol 11:20 pm 28 Jan 14

davo101 said :

But I can see how this is not an attractive option for you as there is no way for you guys to make money from this.

We never set out to make money from MyBus – the app is free. Our server processes a MyWay balance check every 0.8 seconds on average, with peak traffic hitting 2000 MyWay balance checks a minute. For this, we’re spending ~$100 a month of our own money on the server costs. We decided to go down the MyWay recharge road seeing that it didn’t cost anything for our users, and made it more sustainable for us to keep this in the long term. Obviously this doesn’t include the countless hours with people emailing/calling us for support, and the bug fixes and timetable updates.

If you’re going to complain about 5% that doesn’t cost you anything, I hardly think you’re keeping things in perspective/realising the real costs and efforts of keeping this all running.

davo101 1:24 pm 28 Jan 14

imagineteamsol said :

I reiterate- we are a private business and the ACT Government has no part of MyBus. I also reiterate, what on earth is there to lose? For such negative backlash, you’d think there was some concrete negative outcome for all the whinging going on. People can recharge with BPay, Credit Card, Direct Debit, and in stores. Each have their pluses and minuses. How is anything but good that you can add Bitcoin as an option to all of that?

Keep things in perspective people

As several others have commented you are free to accept whatever you like as payment. You’re biggest stumbling block will be convincing the ACT Government to let you be a MyWay recharge agent.

As a user I would find that a far more useful feature would be to have the App tell me when my balance drops to a certain level so that I can recharge by BPay and get the 5% discount. But I can see how this is not an attractive option for you as there is no way for you guys to make money from this.

Deref 3:17 pm 26 Jan 14

oh_ said :

Yes Bitcoin is a new phenomenom lots of people need to get their head around…

The people who have their head around it won’t touch it with the proverbial bargepole.

oh_ 10:05 am 26 Jan 14

I think this is a great idea, and if a Canberra company pioneers it think of all the mass transit systems in the world it could be deployed to. We should be backing this peeps, not knocking it!

Yes Bitcoin is a new phenomenom lots of people need to get their head around, but in the early 1990s the internet and mobile phone were curiosities and people said then both were a waste of time…

Besides which my understanding is that the ACT Government wouldnt be taking any risk or exposing itself on this as what we’re talking about is a third party app that accepts bitcoin and credits your MyWay pretty much instantly by exchanging on the markets at live rates…just another payment option really.

BimboGeek 10:04 pm 25 Jan 14

This is all very interesting but how many of Canberra’s bus commuters do you realistically believe own bitcoin and wish to use it to pay for everyday things like bus tickets?

And of those who do, how many of them consider using AUD an actual difficulty or disadvantage?

Because if the answer is a very low number, you’re just throwing your budget at a curiosity.

Deref 4:37 pm 25 Jan 14

imagineteamsol said :

Deref said :

+1 to that.

Bitcoin will end in tears for many and significant wealth for others. That’s life and adults can make their own decisions about it, but governments should avoid it like the very plague.

Replacing the word “Bitcoin” with AUD:

“AUD will end in tears for many and significant wealth for others. That’s life and adults can make their own decisions about it, but governments should avoid it like the very plague”

The first part makes sense, but the last part doesn’t really apply does it?

I reiterate- we are a private business and the ACT Government has no part of MyBus. I also reiterate, what on earth is there to lose? For such negative backlash, you’d think there was some concrete negative outcome for all the whinging going on. People can recharge with BPay, Credit Card, Direct Debit, and in stores. Each have their pluses and minuses. How is anything but good that you can add Bitcoin as an option to all of that?

Keep things in perspective people

It goes without saying – as a private business you can do what you like in that regard.

Governments, though, should be a little more responsible. Not that they necessarily are, of course.

imagineteamsol 4:16 pm 25 Jan 14

LOVESPYLOVESPY said :

im the guy doing a chargeback on my bus fare

I’m the guy behind you on the bus watching your every move

imagineteamsol 4:15 pm 25 Jan 14

Deref said :

+1 to that.

Bitcoin will end in tears for many and significant wealth for others. That’s life and adults can make their own decisions about it, but governments should avoid it like the very plague.

Replacing the word “Bitcoin” with AUD:

“AUD will end in tears for many and significant wealth for others. That’s life and adults can make their own decisions about it, but governments should avoid it like the very plague”

The first part makes sense, but the last part doesn’t really apply does it?

I reiterate- we are a private business and the ACT Government has no part of MyBus. I also reiterate, what on earth is there to lose? For such negative backlash, you’d think there was some concrete negative outcome for all the whinging going on. People can recharge with BPay, Credit Card, Direct Debit, and in stores. Each have their pluses and minuses. How is anything but good that you can add Bitcoin as an option to all of that?

Keep things in perspective people

Deref 11:00 am 25 Jan 14

Primal said :

If it’s not ‘legal tender’ by definition, no Australian government should be touching it with a billion-foot bargepole. Call it risk aversion if you will, I call it common sense.

+1 to that.

Bitcoin will end in tears for many and significant wealth for others. That’s life and adults can make their own decisions about it, but governments should avoid it like the very plague.

LOVESPYLOVESPY 10:42 am 25 Jan 14

im the guy doing a chargeback on my bus fare

davo101 2:13 pm 24 Jan 14

imagineteamsol said :

davo101 said :

You’re almost out by a factor of 4 there. Credit card merchant costs are 0.81% and falling.

Dead link.

No, just munged by WordPress. I’m sure a clever IT chap should be able the guess what the original URL was 😉

imagineteamsol said :

Also you’re missing the cost associated with merchant accounts, chargebacks, and an average of 3 day settlement periods (ignoring the time it actually takes to get into a bank account).

No it includes all of the merchant costs, that’s the point of the statistic. You do seem to be obsessed with charge backs. From what I’ve seen in several places is that if you charge backs start going over 1% Visa and Mastercard will terminate your credit facility. So at worst it can’t be costing the ACT Government more than 1.8%. Not only that but if they do get a charge back on a MyWay topup then I would assume that they just cancel the MyWay account.

davo101 1:59 pm 24 Jan 14

Mordd said :

Where do you get your info from?

Err, from a working knowledge of the English language. Try taking a deep breath and then look fiat up in a dictionary.

Mordd said :

Now how about you show a source for your wacky form of the truth?

What, you mean other than knowing what the word fiat and the word money mean? How about any economics textbook selected at random (like this or this) or maybe see what the Financial Times thinks or perhaps just look it up in the dictionary.

m_ratt 1:47 pm 24 Jan 14

imagineteamsol said :

Not sure where you got that from. Theres a number of BTC to AUD services. Look at CoinJar.

Oops, I misread post #22. Apologies.

c_c™ 1:37 pm 24 Jan 14

Mordd said :

Let’s go to the biggest source of data on the net and see what Wikipedia has to say and wether it backs up my stance or yours:
.

oh jesus christ.

watto23 12:04 pm 24 Jan 14

There are just not enough positives IMO to accept BitCoin over traditional currency.
Would anyone rather be paid in BitCoins over dollars?

Thus why would anyone convert money to BitCoin other than as a speculative investment to try and make money. That is the key here, the only reason it exists is for someone to try and make more money. As a daily currency I don’t see it having any place whatsoever. Technically any currency could go electronic only and we are headed that way anyway.

I’ve looked into it and it really doesn’t offer that much IMO, I’d be surprised if it does much more than it does now. Kind of like linux as an operating system. It exists because not everyone likes what the majority of people use, so they go for a smaller alternative. And there are plenty of alternatives to BitCoin and they have been set up because the founders are the ones who make the money, everyone else just buys into it hoping to make money.

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