3 ms·
Another person saying "trust me with your crypto". People want to make money by putting fences around it. Not really offline or secure if you have to get the de
by jbaczuk 4y ago
Another person saying "trust me with your crypto". People want to make money by putting fences around it. Not really offline or secure if you have to get the decryption key from someone else's servers... Interesting idea, though users need to understand the security tradeoffs they are making by using these.
- ccamrobertson 4y agoThere are a number of circumstances where the notes can live "offline" without further contact with us -- the primary one we think of is gifting to non-crypto savvy family. Our denominations are also meant to imply this -- we aren't making 1 BTC notes on purpose. The goal is to provide another tool for onboarding and holding crypto.
- jbaczuk 4y agoHow does gifting to non-crypto savvy family change whether the note works offline or not? Because they don't understand it so they don't verify that it wasn't spent? Sorry I don't follow, and I'm not just trying to crap on the idea.
- ccamrobertson 4y agoIn that circumstance they don't need to be online. The recipient can scan the note entirely offline, get the private key, create a transaction and broadcast it to the Bitcoin network when they are online.
- jbaczuk 4y agoAh, so they just assume it wasn't spent already because it was a gift. Yeah might make a fun gift.