Bitcoin Device? | Bitcointalksearch.org

Rajat97

newbie

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Quote from: MoonHodler on October 14, 2017, 05:21:14 PM

Why isn't there a bitcoin device separable from phones and laptops, it would be something like Trezor & Ledger Nano S but as a stand alone device. This would be a great invention where you can load bitcoins on it and use it to buy things. It would be used for spending instead of storing like the hardware wallets.

You only need to connect it to the internet, and can only send or receive coins. No emails, browsing, or apps, so it's harder to hack into.

Or is there?

Yes there is a crypto based phone which will allow you to deal in cryptocurremcies. Bitcoin device would have many features such as in built miner cloud miner and give bonus deals. It would be a whole lot easier and people will surely opt for it.

pooya87

legendary

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Quote from: Heacygg on October 15, 2017, 04:52:27 PM

Dude, we already have bitcoin debit cards
Why do we need something else?

because bitcoin debit card is not using bitcoin, it is using a third party that holds your bitcoin and may or may not allow you to use your bitcoin and may block your account, run away and scam you, and also it takes a lot of additional fees from you just to let you use your bitcoins!

in comparison the device that OP wants, puts you in full control of your money (your bitcoins). you can spend them however you like and whenever you like and never pay any additional fees apart from miner (network) fee.

ruskytailz02

full member

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Quote from: AT101ET on October 14, 2017, 05:52:53 PM

What would the point in that be?
There already are debit cards that you can use that can be loaded with BTC. Having a standalone hardware device just for BTC (and not for storage) would be impractical and expensive. If the device would break then you'd be out of pocket. Better to have various forms of offline storage and an online wallet/app that you load with spendable BTC in my opinion.

There are many easy ways to have a transaction and spending time in making these is a meh.. there are paper wallet if you want to have more secure and I think what your idea is some same storage wallet can better do...
Btw this post is the most related and useful to answer the thread

Cloud27

full member

Activity: 210

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In the first place, why is OP needs to separate the phone and laptop from this Bitcoin device. In my opinion this device is easy to carry compared to the laptop, the mobility issue is removed. While for the phone the hacking is the issue since our phone is loaded of many apps, that's meant more vulnerable compared to standalone device. It also removes the interruption or distraction while the user is in the middle of a transaction. Interrupted while the boss, mother or the wife is calling while the transaction is being processed. The interruption will lead to the risk of errors and mistakes. In the end it is the user's comfort decision.

no0dlepunk

sr. member

Activity: 490

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Quote from: MoonHodler on October 14, 2017, 05:21:14 PM

Why isn't there a bitcoin device separable from phones and laptops, it would be something like Trezor & Ledger Nano S but as a stand alone device. This would be a great invention where you can load bitcoins on it and use it to buy things. It would be used for spending instead of storing like the hardware wallets.

You only need to connect it to the internet, and can only send or receive coins. No emails, browsing, or apps, so it's harder to hack into.

Or is there?

The reason why I like bitcoin is because it is accessible from almost any device without the hassle of carrying it in my pocket and lose it somewhere due to carelessness. I like your idea though, but I cannot imagine what would happen to your hard earned bitcoins once you have misplaced your hardware and you weren't able to recover the seed because it is stand alone. I guess transacting bitcoins via tether is a more practical invention rather than creating a stand alone hardware. If only there is an option for us to transfer BTCs offline, and then will just have to sync it once you are connected to the internet, that will be very useful.

ranochigo

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Quote from: Lanatsa on October 15, 2017, 04:33:08 PM

This is the risk on having those offline storage which once it breaks then for sure you would lose up all the coins inside on that wallet for sure thats why i do see this thing is somehow useless though. All the things we do need are already available. We do have hardware wallet, we do have debit cards , we do have online wallet. What you do still want to ask for? Hacking incident would really be higher if you dont know how to set up good security on your wallet.

Ever heard of backups? Would you prefer to get your coins stolen by hacking or have it secured?

OP, if you can receive coins and spend coins, didn't you just describe a hardware wallet. The device would not be able to differentiate between purchases and non purchases, they would essentially be the same. No point doing this when there are so many hardware wallets out there.

mrfaith01

full member

Activity: 179

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Mining device is a havily duty work..so we need a device that can handle a have duty work that is why cellphone and laptop can not use as a mining device and another reason is the 24 hours mining period

affigne

full member

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Writting/Translations EN-ES available HERE!

The best thing they can do is creating an app that's compatible with the NFC chips so a transaction between devices would be even more practical. Dunno if there's actually any app with that sort of functionality.

Heacygg

member

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Dude, we already have bitcoin debit cards
Why do we need something else?

Lanatsa

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Quote from: AT101ET on October 14, 2017, 05:52:53 PM

What would the point in that be?
There already are debit cards that you can use that can be loaded with BTC. Having a standalone hardware device just for BTC (and not for storage) would be impractical and expensive. If the device would break then you'd be out of pocket. Better to have various forms of offline storage and an online wallet/app that you load with spendable BTC in my opinion.

This is the risk on having those offline storage which once it breaks then for sure you would lose up all the coins inside on that wallet for sure thats why i do see this thing is somehow useless though. All the things we do need are already available. We do have hardware wallet, we do have debit cards , we do have online wallet. What you do still want to ask for? Hacking incident would really be higher if you dont know how to set up good security on your wallet.

Crypdon

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This kind of device will be needed for widespread bitcoin adoption. It is far too complicated now for the average old person on the street to obtain and convert. An easy obtain/spend device should be invented as OP says.

carterwarner10

newbie

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You only need to connect it to the internet, and can only send or receive coins. No emails, browsing, or apps, so it's harder to hack into. It would be used for spending instead of storing like the hardware wallets.

BitcoinNewsMagazine

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There already was. It was called Case bitcoin wallet. The company stopped updating the firmware after a few months and it was unusable after fees increased as it sent with a fixed fee. Case is now out of business. Compare to Trezor as one you bought in 2014 can still be used today as firmware has been updated many times.

pooya87

legendary

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nah, it won't need "something entirely new". you can already make something yourself. it is not even that complicated if you know some basic stuff. there currently are mini computers such as Raspberry Pi or others similar to it with cheap prices you can set up a very customized Linux on them and carry that around in your pocket (there are small and light versions) and use it to sign transactions and broadcast them.

the reason why they don't already exist is that there has not been a demand for them. and as long as you can do it with your phone which you already use there may never be a demand for it either.

unamis76

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That would require developing something entirely new and you'd have to carry your usual stuff + yet another device around... Something simpler to develop would be having our Trezors and Ledgers compatible with our smartphones (wouldn't solve having to carry 2 things, but hey...)

The fact that it only performs one thing doesn't make it unhackable or harder to hack. I think that a Trezor-like device with internet capabilities would make it easier to hack, actually...

AT101ET

legendary

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What would the point in that be?
There already are debit cards that you can use that can be loaded with BTC. Having a standalone hardware device just for BTC (and not for storage) would be impractical and expensive. If the device would break then you'd be out of pocket. Better to have various forms of offline storage and an online wallet/app that you load with spendable BTC in my opinion.

MoonHodler

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Activity: 114

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Bitcoin: 1HrWs3tDzWr13zocV3qP9ENRLgiDuewtsu

Why isn't there a bitcoin device separable from phones and laptops, it would be something like Trezor & Ledger Nano S but as a stand alone device. This would be a great invention where you can load bitcoins on it and use it to buy things. It would be used for spending instead of storing like the hardware wallets.

You only need to connect it to the internet, and can only send or receive coins. No emails, browsing, or apps, so it's harder to hack into.

Or is there?

Topic: Bitcoin Device? (Read 422 times)