Topic: Introducing The Bitcoin Note: Physical Bitcoin that Looks and Feels Like Cash - page 2. (Read 1043 times)
June 22, 2022, 07:29:48 AM
Okay, but what happens if you lost the note?
legendary
Activity: 2520
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The Stone the masons rejected was the cornerstone.
June 12, 2022, 01:06:26 PM
Love the idea and the designs....You should also announce in the collectables section here...plenty of people would buy once available.
https://bitcointalk.org/index.php?board=217.0
https://bitcointalk.org/index.php?board=217.0
June 12, 2022, 10:19:13 AM
i became aware of the new Bitcoin notes yesterday and today i created an own thread in the collectors section 
(after i couldn't find this thread in the search function) 
find the design and the concept with nfc and multisig very interesting and would like to add this to my big collection after the Polymerbit notes
have today also put me on the waiting list
will there also be other editions or it remains with these 4 motifs?
(after i couldn't find this thread in the search function) find the design and the concept with nfc and multisig very interesting and would like to add this to my big collection after the Polymerbit notes
have today also put me on the waiting list
will there also be other editions or it remains with these 4 motifs?
June 10, 2022, 09:43:34 AM
Please comment on my Cheap Notes concept. I think you could integrate some ideas. I don't think 100 µBTC or 1 mBTC bills justify a NFC chip but the two redeem periods are a concept which I think is good.
https://bitcointalksearch.org/topic/introducing-cheap-bitcoin-notes-5402081
The user still has to trust the issuer, but the same is true about centralized exchanges....
https://bitcointalksearch.org/topic/introducing-cheap-bitcoin-notes-5402081
The user still has to trust the issuer, but the same is true about centralized exchanges....
June 09, 2022, 11:04:18 AM
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That would be great to see and anything less than $100 is acceptable for this in my opinion, and this could work almost like hardware paper wallet with NFC support.
One thing I would like to see is option to somehow have anonymous purchase and shipping to PO boxes, or maybe even local purchase.
One thing I would like to see is option to somehow have anonymous purchase and shipping to PO boxes, or maybe even local purchase.
We will very likely never make a larger note unless we change the security model; but we very much do want to make smaller notes over time.
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I'm in dual minds. It isn't original but it's a nice idea keeping bitcoin notes. They look nice but trusting strangers isn't easy. Who's comfortable believing cryptocurrency coins and notes makers ?
Our hope is that our model gives you a different trust model than previous notes where the private key could note be rotated.
June 09, 2022, 10:26:00 AM
I'm in dual minds. It isn't original but it's a nice idea keeping bitcoin notes. They look nice but trusting strangers isn't easy. Who's comfortable believing cryptocurrency coins and notes makers ?
June 08, 2022, 02:55:48 PM
We don't have pricing ready just yet, but think somewhere around a set of Opendimes. Limited production runs right now mean we don't get great volume discounts, but these notes will be low serial number (if that matters).
That would be great to see and anything less than $100 is acceptable for this in my opinion, and this could work almost like hardware paper wallet with NFC support.One thing I would like to see is option to somehow have anonymous purchase and shipping to PO boxes, or maybe even local purchase.
Thanks! The apps will implicitly authenticate the notes with us (although, of course, that's trusting us) and we're investigating making them capable of auditing the multisig independently from us. In either case we hope that open sourcing the apps means that folks have an alternative means of verifying the multisig and how the apps function if so desired.
There are other bitcoin wallets that support NFC, so it would be cool if you could support third party wallets that have multisig. June 08, 2022, 11:25:04 AM
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You're contradicting yourself. It now sounds like it it has all the drawbacks of physical storage while it still requires an on-chain transaction. And after each on-chain transaction, the remaining value will be reduced (because of transaction fees).
It depends on your trust model. If you receive a note fresh from a family member as a gift, you might not re-key. If you are going to spend the note right away, you probably won't re-key. If you plan to claim funds off the note by cutting it soon you might not re-key. There are a bunch of scenarios where you may opt not to re-key and just spend like cash. We suspect gifting from a trusted party is going to be one of the most common cases near term, hence folks won't be re-keying frequently.
Most physical storage similar to this can't be re-keyed at all. Your options are, claim right away or trust the person who gave it to you (into perpetuity or until you will claim).
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However, one big question remains: what will this "re-keying" mean.
I hoped it's something that doesn't involve re-creation of a new wallet (and new address), hence no new tx, but I don't know...
I hoped it's something that doesn't involve re-creation of a new wallet (and new address), hence no new tx, but I don't know...
It does require sending funds to a new multisig -- we are recommending/defaulting to really low fees since given the notes are long lived it doesn't make sense that bills need to be loaded within a few blocks.
June 08, 2022, 08:25:56 AM
My guess is that they plan to sell them unfunded, basically expecting the first owner fund it on-chain.
Yeah, these Bitcoin notes won't be sold pre-funded. It's mentioned in the OP that they will write an encrypted private key on the paper and the user will write down the user key. After that, the note gets loaded.Since OP didn't include any pictures and no one else shared any, I though this thread should have some, so people can see what is being discussed withoout having to leave the forum. Here are a few that can be found on the official website:
~snip~
Interesting. They look very similar to Australian bills:
I guess it's because they're polymer bank notes, and that technology was invented in Australia:
Quote from: https://en.wikipedia.org/wiki/Polymer_banknote
Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne
June 08, 2022, 08:15:45 AM
My guess is that they plan to sell them unfunded, basically expecting the first owner fund it on-chain.
Yeah, these Bitcoin notes won't be sold pre-funded. It's mentioned in the OP that they will write an encrypted private key on the paper and the user will write down the user key. After that, the note gets loaded.Since OP didn't include any pictures and no one else shared any, I though this thread should have some, so people can see what is being discussed withoout having to leave the forum. Here are a few that can be found on the official website:
June 08, 2022, 02:55:53 AM
It now sounds like it it has all the drawbacks of physical storage while it still requires an on-chain transaction. And after each on-chain transaction, the remaining value will be reduced (because of transaction fees).
From my understanding on-chain transaction will happen only when this notes are getting funded. Most probably only once.
My guess is that they plan to sell them unfunded, basically expecting the first owner fund it on-chain. Afterwards it can be passed on with the nominal value being contained there.
However, one big question remains: what will this "re-keying" mean.
I hoped it's something that doesn't involve re-creation of a new wallet (and new address), hence no new tx, but I don't know...
June 08, 2022, 02:45:00 AM
When you re-key the user key you are really sending from the first multisig to a new one.
As a payment instrument that you pass from person to person, on-chain transactions should be fairly minimal (unless you want to re-key the note).
If you're the last holder and you didn't re-key the note, it's probable that someone else also has a copy of the key (hence why we recommend re-keying when you receive a note).
You're contradicting yourself. It now sounds like it it has all the drawbacks of physical storage while it still requires an on-chain transaction. And after each on-chain transaction, the remaining value will be reduced (because of transaction fees). June 07, 2022, 10:47:03 PM
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I really like this project, thanks for making it.
There's a weird feeling with this one though, on one hand it looks like a great item for a collection, being a limited edition. But on the other hand, the whole purpose of it is to become more mainstream and very common, so that a lot of people are trading it back and forth, which would lower the collector's value.
I guess the first edition might keep the value as a collector's item and next batches would be not limited...
Any plans decided now about the future of production of these bills?
I really like this project, thanks for making it.
There's a weird feeling with this one though, on one hand it looks like a great item for a collection, being a limited edition. But on the other hand, the whole purpose of it is to become more mainstream and very common, so that a lot of people are trading it back and forth, which would lower the collector's value.
I guess the first edition might keep the value as a collector's item and next batches would be not limited...
Any plans decided now about the future of production of these bills?
Thank you -- we have to start somewhere and we believe collectable -> gifting -> mainstream is the right path. The first edition will get low serial numbers as at least one point of distinction. But yes, we would really like to do some much larger production runs of bills (ideally millions).
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awesome - I would love to set up a group buy!
Great! Stay tuned for the order notification email and drop me a line when it comes through. I'm just cameron [at] offline [dot] cash
June 07, 2022, 08:57:00 PM
That's really good to know, makes complete sense. We can probably coordinate something behind the scenes if multiple folks are in line.
awesome - I would love to set up a group buy!
June 07, 2022, 08:05:23 PM
I really like this project, thanks for making it.
There's a weird feeling with this one though, on one hand it looks like a great item for a collection, being a limited edition. But on the other hand, the whole purpose of it is to become more mainstream and very common, so that a lot of people are trading it back and forth, which would lower the collector's value.
I guess the first edition might keep the value as a collector's item and next batches would be not limited...
Any plans decided now about the future of production of these bills?
There's a weird feeling with this one though, on one hand it looks like a great item for a collection, being a limited edition. But on the other hand, the whole purpose of it is to become more mainstream and very common, so that a lot of people are trading it back and forth, which would lower the collector's value.
I guess the first edition might keep the value as a collector's item and next batches would be not limited...
Any plans decided now about the future of production of these bills?
June 07, 2022, 04:57:25 PM
That's really good to know, makes complete sense. We can probably coordinate something behind the scenes if multiple folks are in line.
June 07, 2022, 04:12:15 PM
the reason I ask is there are a few of us on the forums that arrange and process group buys where many members here may partake and then have all the ordered items shipped to one location where the members then also have their various orders consolidated to reduce shipping costs.
If it was possible to know a limit on quantity and/or price, it might be possible to arrange a group buy here where it is possible that 50 or more sets could easily be ordered as one order.
If it was possible to know a limit on quantity and/or price, it might be possible to arrange a group buy here where it is possible that 50 or more sets could easily be ordered as one order.
June 07, 2022, 03:40:19 PM
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1. Love the design, i think they can make for great collectibles and you could release different versions later down the road.
2. Amazing concept, i think this makes for great UX. Will definitely use this to spice gifts up. Is there an easy way for non key holders to verify what’s on the bill and that it’s genuine?
3. I would add some place in the app that will explain the expiration date, just in case there’s misconceptions and people think their Bitcoin will expire.
2. Amazing concept, i think this makes for great UX. Will definitely use this to spice gifts up. Is there an easy way for non key holders to verify what’s on the bill and that it’s genuine?
3. I would add some place in the app that will explain the expiration date, just in case there’s misconceptions and people think their Bitcoin will expire.
Thanks! The apps will implicitly authenticate the notes with us (although, of course, that's trusting us) and we're investigating making them capable of auditing the multisig independently from us. In either case we hope that open sourcing the apps means that folks have an alternative means of verifying the multisig and how the apps function if so desired.
Yes, definitely -- the UX of the app is really important in helping less technical users understand the notes and their limitations.
June 07, 2022, 03:07:37 PM
1. Love the design, i think they can make for great collectibles and you could release different versions later down the road.
2. Amazing concept, i think this makes for great UX. Will definitely use this to spice gifts up. Is there an easy way for non key holders to verify what’s on the bill and that it’s genuine?
3. I would add some place in the app that will explain the expiration date, just in case there’s misconceptions and people think their Bitcoin will expire.
2. Amazing concept, i think this makes for great UX. Will definitely use this to spice gifts up. Is there an easy way for non key holders to verify what’s on the bill and that it’s genuine?
3. I would add some place in the app that will explain the expiration date, just in case there’s misconceptions and people think their Bitcoin will expire.
June 07, 2022, 03:03:23 PM
We don't have pricing ready just yet, but think somewhere around a set of Opendimes. Limited production runs right now mean we don't get great volume discounts, but these notes will be low serial number (if that matters).
We probably will let folks order more than one set, but can't confirm that just yet.
We probably will let folks order more than one set, but can't confirm that just yet.
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