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210 sats \ 8 replies \ @joko OP 22 Oct 2022 freebie \ parent \ on: Don’t bother with hardware wallets in card format bitcoin
What for though? They are worse than regular software wallets in every single way. They are basically like printing out a SeedQR and handing it to someone.
You don't need internet to make a transaction with someone. Just give them the card. Good backup to have. Also, great for gifting bitcoin to people.
It's definitely way more secure than printing out your seed on a QR code and handing it to someone. In that case, both of you have the private key and you can move the funds after you give them the seed. That's not the case with Satscards. I don't think there's a way to reveal the private key on the Satscard without sweeping the funds.
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You don't need internet? How do you verify there's actually money on the card then?
Also in which world is giving a Satscard away cheaper than an onchain transaction?
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You can verify the balance with a block explorer with your node hooked up to a Blockstream Satellite 😂. Or you can can just call someone you trust to verify the balance for you. I’m waiting for someone to build a USSD block explorer.
Normies often don’t have a bitcoin wallet to accept the tx as a gift. Also, you can’t give it as a physical gift with a card like you normally do at events like weddings.
I lived in rural West Africa for a few years and would have loved to have all this offline Bitcoin tech when I lived there.
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LOL
Sure, I guess for low amount gift vouchers it's fine - but then you can also just gift a written down seed phrase / SeedQR
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That’s not the same though. Cause both of you now have the private key.
Also, it’s way easier for a noob to sweep the funds with a Satscard if bitcoin moons and they need to move the funds. Satscards can also be sweeped up to 10 times. Each time a new private key is used. This way you can replace funds with a lower amount any time bitcoin pumps hard.
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Sure, the minor inconvenience is sending to another wallet.
I don't think it's easier to sweep the funds from a Satscard for a noob as it doesn't follow industry standards.
But to circle back to the OP, this is more about cards that want to be wallets (I guess they call that Tapsigner?).
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Also, I’m not trying to convince you to get some Satscards. Just explaining why I and many others like them.
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All good, I like discussing the topic and don't think you mean bad.
I think many people who like them don't really understand their security model. Part of the reason for this is the disingenuine marketing. We've long moved past paper wallets and suddenly new companies repackage them as being a good and novel idea.
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