4 ms·

So, it's paper money, but one that won't survive heat or strong electrical fields, and that you need to use with your phone. And will lose all value if the cent

So, it's paper money, but one that won't survive heat or strong electrical fields, and that you need to use with your phone. And will lose all value if the central repository goes under. And is not recyclable or efficiently burnable. Top work everyone, nailed it.

glerk 4y ago
I think people in this thread are taking this a bit too seriously. To me this just looks like a novelty item, more akin to an art piece than a serious technology intended to be used on a daily basis. You gotta admit it looks pretty cool.
- soared 4y ago
  > To me this just looks like a novelty item, more akin to an art piece than a serious technology Oh boy, wait till you hear about NFTs, memecoins, and well.. bitcoin I guess.
la64710 4y ago
So it is basically encrypted key stored in a micro sd card inside some printed paper. Gimmicks like this is why the whole crypto thing is all smoke and mirrors.
isitmadeofglass 4y ago
Yes, but it solves the main problem that traditional dollar bills have, which is that I can’t get VC funding for handing people dollar bills.
- biztos 4y ago
  Maybe if you could outsource the handing to a low-wage country, while still having the handees be either Gen-Z Americans or other VC-backed companies.
paulgerhardt 4y ago
>So, it's paper money, but one that won't survive heat or strong electrical fields, and that you need to use with your phone. And will lose all value if the central repository goes under. And is not recyclable or efficiently burnable. Literally none of this is true. There's so many comments in this thread that pagination is now turned on so apologies if you didn't catch some of the explanation elsewhere. It's a synthetic polymer (not paper) that can survive heat and strong electrical fields that can (but doesn't need to be) be validated with a computer, maintains its value if the issuing party goes under (see the key rotation comments in this thread) and is recyclable. Burnable? Actually yes, at a high enough temperature (higher than linen) but it would first melt. We have previously experimented with "burn proof" polymers but found this wasn't an important metric to optimize for given the huge tradeoffs those materials come with and which our colleagues who make Hong Kong, Canadian, and Australian dollars also reached.
- Werewolf255 4y ago
  Wow it's crazy how literally none of that is on the website or supported by any evidence from the link. It's almost like you did a bad job and are now blaming everyone who noticed. Even with all that being said, taking you at face value, it's bringing bitcoin into yet another format you can lose, and with its own tidy expiration date. Oh and let's not forget the extensive discussion of cutting or otherwise rendering the note useless on redemption. Are we supposed to believe this is an art piece or a serious monetary instrument. Traditional cash happens to be both and I can buy donuts with traditional cash, sans phone no less
  - paulgerhardt 4y ago
    Are you on mobile? Scroll down to the “Bitcoin bearer instruments that you want to hold” section. Read the subsections under “resilient” and “key rotation” which it appears you may have missed before posting your first comment. Anytime one is communicating a new concept there is a trade off between under and over communication. In this instance I believe it’s important to note the notes are synthetic and function without centralization - and a point of pride the face value adds a fairly unique ability for fungible cold storage not requiring a phone - not a concept one usually thinks of as possible with hardware wallets. On the other hand properties relating to their resilience to “strong electrical fields” or “efficient burning” characteristics did not come up as concerns by other customers during development, nor as other metrics on which various other physical currencies benchmark, but I will note that as an area we could clarify in the future.
d--b 4y ago
Oh and if by any chance BTC tanks, it may be more expensive to produce than the value it holds.

glerk 4y ago

I think people in this thread are taking this a bit too seriously. To me this just looks like a novelty item, more akin to an art piece than a serious technology intended to be used on a daily basis. You gotta admit it looks pretty cool.

soared 4y ago
> To me this just looks like a novelty item, more akin to an art piece than a serious technology Oh boy, wait till you hear about NFTs, memecoins, and well.. bitcoin I guess.

la64710 4y ago

So it is basically encrypted key stored in a micro sd card inside some printed paper. Gimmicks like this is why the whole crypto thing is all smoke and mirrors.

isitmadeofglass 4y ago

Yes, but it solves the main problem that traditional dollar bills have, which is that I can’t get VC funding for handing people dollar bills.

biztos 4y ago
Maybe if you could outsource the handing to a low-wage country, while still having the handees be either Gen-Z Americans or other VC-backed companies.

paulgerhardt 4y ago

>So, it's paper money, but one that won't survive heat or strong electrical fields, and that you need to use with your phone. And will lose all value if the central repository goes under. And is not recyclable or efficiently burnable. Literally none of this is true. There's so many comments in this thread that pagination is now turned on so apologies if you didn't catch some of the explanation elsewhere. It's a synthetic polymer (not paper) that can survive heat and strong electrical fields that can (but doesn't need to be) be validated with a computer, maintains its value if the issuing party goes under (see the key rotation comments in this thread) and is recyclable. Burnable? Actually yes, at a high enough temperature (higher than linen) but it would first melt. We have previously experimented with "burn proof" polymers but found this wasn't an important metric to optimize for given the huge tradeoffs those materials come with and which our colleagues who make Hong Kong, Canadian, and Australian dollars also reached.

Werewolf255 4y ago
Wow it's crazy how literally none of that is on the website or supported by any evidence from the link. It's almost like you did a bad job and are now blaming everyone who noticed. Even with all that being said, taking you at face value, it's bringing bitcoin into yet another format you can lose, and with its own tidy expiration date. Oh and let's not forget the extensive discussion of cutting or otherwise rendering the note useless on redemption. Are we supposed to believe this is an art piece or a serious monetary instrument. Traditional cash happens to be both and I can buy donuts with traditional cash, sans phone no less
- paulgerhardt 4y ago
  Are you on mobile? Scroll down to the “Bitcoin bearer instruments that you want to hold” section. Read the subsections under “resilient” and “key rotation” which it appears you may have missed before posting your first comment. Anytime one is communicating a new concept there is a trade off between under and over communication. In this instance I believe it’s important to note the notes are synthetic and function without centralization - and a point of pride the face value adds a fairly unique ability for fungible cold storage not requiring a phone - not a concept one usually thinks of as possible with hardware wallets. On the other hand properties relating to their resilience to “strong electrical fields” or “efficient burning” characteristics did not come up as concerns by other customers during development, nor as other metrics on which various other physical currencies benchmark, but I will note that as an area we could clarify in the future.

d--b 4y ago

Oh and if by any chance BTC tanks, it may be more expensive to produce than the value it holds.