If you need funding and want to encourage participation have you considered using something like wings.ai?
They have a competition at the moment, so if you list your project in their alpha version http://alpha.wings.ai/ you can win free consulting for the legal issues and so on of crowdfunding when they launch for real, and I think there's a small BTC prize as well.
Topic: [ANN] Satoshium: Minted Bitcoin - page 2. (Read 2507 times)
One thing that worries me though about things like this is that electronic hardware always carries a risk of failure which increases over time. I've never trusted hardware wallets because of this.
You make a fair point.
Satoshiums based on Java-card cryptoprocessors properly housed in a protective enclosure should have a fairly long shelf life because they remain inert and unpowered with no built-in power source, but only activated by an NFC interrogating device or a USB connection.
We address various hardware-failure scenarios including aging and Carrington Flare type events in the section 2.1 of the white paper.
Let me quote the relevant passage:
2.1 Security Considerations: Satoshium
A satoshium should have a shelf life of over a decade if it is heavily circulated, or longer if it is
sitting in climate controlled storage, however just as cash can be burnt so Satoshium can be
mechanically destroyed, therefore users should consider redeeming very old satoshiums.
There is about a one percent annual chance of a Carrington-type solar flare event that would
damage unprotected electronics on a worldwide scale. So the enclosure should include faraday
containment of the cryptoprocessor.
The standard answer given by hardware wallet guys is that once you made a backup,
the hardware of the hardware wallet is nearly disposable because the wallet is fully recoverable from a
paper or metallic back up.
Satoshium has something we call "Secret Extraction" it's not meant to be a backup in the same way as hardware wallets,
but rather it's an advanced feature to deal with various edge case scenarios, one of which could be aging or various types of damage.
Good answer, and good luck making it happen.
One thing that worries me though about things like this is that electronic hardware always carries a risk of failure which increases over time. I've never trusted hardware wallets because of this.
You make a fair point.
Satoshiums based on Java-card cryptoprocessors properly housed in a protective enclosure should have a fairly long shelf life because they remain inert and unpowered with no built-in power source, but only activated by an NFC interrogating device or a USB connection.
We address various hardware-failure scenarios including aging and Carrington Flare type events in the section 2.1 of the white paper.
Let me quote the relevant passage:
2.1 Security Considerations: Satoshium
A satoshium should have a shelf life of over a decade if it is heavily circulated, or longer if it is
sitting in climate controlled storage, however just as cash can be burnt so Satoshium can be
mechanically destroyed, therefore users should consider redeeming very old satoshiums.
There is about a one percent annual chance of a Carrington-type solar flare event that would
damage unprotected electronics on a worldwide scale. So the enclosure should include faraday
containment of the cryptoprocessor.
The standard answer given by hardware wallet guys is that once you made a backup,
the hardware of the hardware wallet is nearly disposable because the wallet is fully recoverable from a
paper or metallic back up.
Satoshium has something we call "Secret Extraction" it's not meant to be a backup in the same way as hardware wallets,
but rather it's an advanced feature to deal with various edge case scenarios, one of which could be aging or various types of damage.
Looks interesting, I bought some opendime sticks for novelty value because I like the concept.
One thing that worries me though about things like this is that electronic hardware always carries a risk of failure which increases over time. I've never trusted hardware wallets because of this.
One thing that worries me though about things like this is that electronic hardware always carries a risk of failure which increases over time. I've never trusted hardware wallets because of this.
We are pleased to announce a new project Satoshium that reinvents physical bitcoin as something that is easily transferable among strangers.
Basically we are seeking to capture the experience of precious metals coins, with bitcoin.
My partner Thomas and I have been bitcoin holders since 2011 and have onboarded many different people in many different ways.
Web wallets, phone wallets, hardware wallets.
We found the onboarding process surprisingly difficult even with technically sophisticated users.
With naive users there really was no way to do onboarding without them trusting us.
Out of this experience was born Satoshium.
We have a whitepaper that describes the most important concepts.
There is a heavy focus on usability and also some novel security mechanisms.
We are seeking feedback for our whitepaper, collaborators, and funding.
Please get in touch if you have any feedback or would like to participate in other ways.
White Paper: http://satoshium.org/satoshium.pdf
Twitter: http://twitter.org/satoshiumorg
Website: http://satoshium.org
Memes: http://satoshium.org/memes.html
Reddit: http://reddit.com/r/satoshium
Basically we are seeking to capture the experience of precious metals coins, with bitcoin.
My partner Thomas and I have been bitcoin holders since 2011 and have onboarded many different people in many different ways.
Web wallets, phone wallets, hardware wallets.
We found the onboarding process surprisingly difficult even with technically sophisticated users.
With naive users there really was no way to do onboarding without them trusting us.
Out of this experience was born Satoshium.
We have a whitepaper that describes the most important concepts.
There is a heavy focus on usability and also some novel security mechanisms.
We are seeking feedback for our whitepaper, collaborators, and funding.
Please get in touch if you have any feedback or would like to participate in other ways.
White Paper: http://satoshium.org/satoshium.pdf
Twitter: http://twitter.org/satoshiumorg
Website: http://satoshium.org
Memes: http://satoshium.org/memes.html
Reddit: http://reddit.com/r/satoshium
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