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495 sats \ 6 replies \ @DarthCoin 14 Dec 2022 \ on: Bounties - SATSCARD integration into Breez Wallet bitcoin
Yes, is a nice feature, but the question is what for? Are you going to use in real life shopping case a transaction onchain? How many times you will use a transfer from a satscard to another onchain wallet per month? once?
I have to say and I will always say it:
  • Onchain is the settlement, is the final vault, is the "central bank" that is supposed to almost never open it, just deposit few times, large amounts. Also will be much more used exclusively to open and close LN channels, not for regular txs.
  • LN is the payment network, your daily spending pockets, your "commercial bank", the fast payment that you use daily.
I usually have cold wallets that I setup, save the seed and close them into a safe place and forget about. I just use a xpub to deposit, when is needed. But I do not use them as regular spending wallet. For that I use LN wallets. Any not just one but 3-4.
I always use the 3 levels of stash of my BTC for the last 10+ years.
https://i.postimg.cc/1zVy4QNn/3level-stash.jpg
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0 sats \ 1 reply \ @nvk OP 19 Dec 2022
The goal for SATSCARD is to loan and sweep the cards.
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0 sats \ 0 replies \ @DarthCoin 19 Dec 2022
Like OpenDime? Ok that make sense then.
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0 sats \ 2 replies \ @doubleplusgood23 15 Dec 2022
You’re very prolific in Bitcoin spaces (I think you educated me on my node) so pardon if my knowledge is lacking but in December 2022 what is your recommendation for accruing non-KYC BTC? I have a cold wallet, a private BTC node, and greenbacks ready to go - where should I get my BTC?
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10 sats \ 1 reply \ @DarthCoin 15 Dec 2022
Not sure if you read my guides on substack. Recently I wrote one exactly about this https://darthcoin.substack.com/p/from-where-can-i-get-some-bitcoins
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1 sat \ 0 replies \ @doubleplusgood23 16 Dec 2022
Thank you for the link and the work you do in general!
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0 sats \ 0 replies \ @scottathan 14 Dec 2022
This is a valid critique, but only if you were using the SATSCARD like a cold wallet. It is intended to act more similarly to cash that gets exchanged multiple times before being unsealed and the contents of the wallet sent to a different address.
You are correct that right now the usecases are not terribly high, since it becomes a very ineffecient cold wallet like you said. But it is awesome that Coinkite is building on and working with the idea of giving bitcoin a physical cash form, since that could be extremely useful when Bitcoin becomes mainstream.
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