13 sats \ 3 replies \ @KLT 3 Feb \ on: Would You Use Opendime More To Transfer Bitcoin Ownership(UTXO) if They Were $5? bitcoin
This older post below lists some great use cases for Opendimes that are worth bringing up again. I think there’s a great use case where you can have 1 million sats on an Opendime, maybe less and you use it to pay for something between you and that person, privately. What if they don’t break the seal and they just keep the 1 million sats on there. They could then reuse the same opendime, just like cash. Passing it around. You could have an opendime with 250k sats, 500k sats and so on.
https://medium.com/@beautyon_/exquisite-opendime-ad1195a2790e
Here’s an interesting quote:
"Thinking about this OpenDime future, old OpenDimes could accumulate quite a bit of money as they are passed from one person to another, paying for goods and services. Imagine a story, “The Life and Times of an OpenDime”, a little like The Yellow Rolls Royce. The first use is to buy a bicycle, the tongue is not broken, but instead the device is re-used to recycle the OpenDime. The next purchase is a refrigerator. The buyer tops up the OpenDime before he pays with it. The tongue is not broken. The next purchase is paying six months rent for an office… and the tongue is not broken... and so on and so on, until that same OpenDime is used to buy an apartment in London for £30,000,000. Then it might be broken. Who knows?"
That's excellent, that's where I was trying to get to with this. You can use it like a bitcoin physical cash money
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Exactly! Because of the cost of a few opendimes, it’s not worth doing it for low value transactions but the fact that the same opendime could be used over and over just like physical cash, I feel like like it could have a lot of great use cases. If I needed to buy something for 400k sats. I had a 500k sat opendime, I could give you the opendime and you give send me 100k sats change over lightning. Put the opendime in one of those metal tubes to keep it safe, rinse and reuse.
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Exactly
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