38 sats \ 4 replies \ @nerd2ninja 26 Jul 2023 \ on: How can we make Bitcoin more "physical"? bitcoin
You're basically trying to figure out how to make a secret into something physical. Sure you can pass a plate with the secret written on it, but how do you know that the secret has been kept secret since its been passed around?
Someone tried to solve this using a multi-sig scheme, but it required trust from the issuer which is the exact problem we're trying to get away from here.
Yes we can solve this, for example, there is irreversible photochromic ink. Irreversible photochromic ink is a type of ink that changes color when exposed to UV light, but the color change is permanent and cannot be reversed, this can be used so paper bitcoin can trade hands but once someone scans and take it back to its wallet then it means that qr code no longer works.
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That doesn't solve for the fact that someone or some information system has knowledge of the private key and has to have knowledge of the private key in order to record it on the note in the first place.
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what's the multi sig scheme you're referring to?
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Had to dig it up. Here you go: https://offline.cash/
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