Seven countries have now officially established national #Bitcoin reserves:
🇺🇸 UNITED STATES
🇸🇻 EL SALVADOR
🇰🇿 KAZAKHSTAN
🇰🇬 KYRGYZSTAN
🇵🇰 PAKISTAN
🇧🇹 BHUTAN
🇦🇪 UAE
And this is just the beginning.
Stupidest idea ever. There will be paper bitcoin receipts even if I have to open that bank myself.
Small physical device that has a private key and an e-ink display and is powered by NFC.
You can make it display the private key, but once you do, it will never display the public key again (until you generate a new one).
So if it's displaying the pubkey, you can believe that it the privkey has never leaked off of the chip.
Tamper evident.
Think of something about the size and shape of a swiss watch, that can hold (generally) 100$ or 1000$ of BTC.
@cjd @dcc @yukiame People have been experimenting with similar ideas for a while. Here's one example: https://offline.cash/
@cjd @dcc @yukiame The criticism of digital-only is rather misguided IMO. All fiat currencies right now are almost entirely digital. Physical bearer notes make up a very small amount compared to overall currency units, and issuance information is all digital anyway. The question is if you want that information to only be stored on central and private bank servers, or if you want that information distributed all across the globe.
@dcc @yukiame @cjd I can buy a VPN service via #LightningNetwork instantly right now, and not be tracked by digital payments.
So what? Yes, physical cash is the next-best thing, but it's being diluted at incredible rates, so the cash you have right now will not even buy you a hot dog next year.
@dcc @yukiame @cjd It literally takes me less than 10 seconds to pay for something online with Lightning, including opening the wallet and confirming the payment. If you want to send cash, first you need an envelope, then a stamp, then write the address, bring the envelope to a post box, ideally not directly where you live, then wait until it arrives and hope the receiver acknowledges the anonymous payment.
How on Earth is that not more expensive and time-consuming than pressing 2 buttons?
But on the other side, it's stupid not to have some kind of cash-like thing to spend when you're at a store, the point is that whatever it is it needs widespread adoption.
Central banks have some dream of making everyone use digital currency exclusively - but then the "digital currency" ends up being Bitcoin and they're the fuck out of a job, and then sanity returns and people find some kind of paper that they can use for small over-the-counter transactions because it just makes sense...
@xianc78 @cjd @dcc @raucao @yukiame cash by mail is underrated. got my first shell account by mailing 5€ to some italian guy if my memory serves me right :)