Spent more than 4x as much on my Ledger, and it's far from perfect and def not ideal for gifting crypto. I'm personally supportive of any company/product that wants to make managing crypto easier, safer, and cheaper. Kudos on the launch!
Show HN: Burner – A low cost wallet to gift crypto
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Re: Show HN: Burner – A low cost wallet to gift crypto
#12You can’t even use an existing stable coin? Not interested.
You can! We just don’t feature it in the gift card “optimized” mode since we do not subsidize the gas costs for existing stablecoins.
Re: Show HN: Burner – A low cost wallet to gift crypto
#13>That’s why we’ve created USD II – the perfect stablecoin to give with Burner. It’s backed 1:1 with U.S. Dollars held in reserve by our partner, Bridge. Ah shit, here we go again. Why would I use this?
The same reason one would use any other stablecoin like USDC, you want to send dollars to someone.
The added benefit is that you don’t need to be worried about sending ETH as well to use USD II. Put another way, if I gift you a Ledger with USDC today, you as a possible crypto newbie need to work out how to get ETH to move that USDC.
Re: Show HN: Burner – A low cost wallet to gift crypto
#14Interesting...the name of this makes it sound like criminals will be using it to transfer cash around the world, like with gift cards? Genuinely I'm curious, is there really a big market around gifting crypto, or is that market just sort of a front for criminal activity like why some retailers see a spike in gift card sales?
There is a massive trillion dollar market around gifting dollars on gift cards today, but you can typically only use them on Visa and Mastercard networks. We think gifting stablecoins is a better way to do that.
Re: Show HN: Burner – A low cost wallet to gift crypto
#15Bold of you to "Show HN:" a crypto project. As best I can tell, this will be use for all the things scam gift cards are typically used for now but more (because now crypto is involved somehow). Your 'stable-coin' doesn't inspire confidence either. Why can't I just gift someone some BTC or ETH? The only reason to include a coin of your own is for a pump and dump. Really though, this stuff all sounds quite technically…
You can just gift ETH. And good news, as a stablecoin backed by dollars USD II is pegged to the dollar so no “pumping” or “dumping”.
Re: Show HN: Burner – A low cost wallet to gift crypto
#16Man, looking at the comments it's crazy to me that hn's knowledge of a $3T industry hasn't evolved at all in 7 years. For those not in the know, Bridge, the stablecoin partner here, was just purchased by Stripe for $1.1B because they see future cost savings from using stablecoins for global remittances and forex. https://fortune.com/crypto/2024/10/22/stripe-announces-1-1-b... It's cool to have some skepticism, but up…
A crypto security firm says that crypto is safer now and we are all supposed to believe it? Also stablecoins like USDT which is supposed to be backed with USD but has never had an external auditor look at its books are somehow the solution here? There is a reason crypto is looked at skeptically.
Why would a crypto security firm be incentivized to tell people there is LESS crime? They want to sell MORE services for hunting down criminals. They are the de facto FBI enforcement arm. If you don't believe them, check the FBI's official numbers:
https://www.fbi.gov/contact-us/field-offices/philadelphia/ne...
Tether has public audited reports from BDO Italia S.p.A, the fifth largest independent firm globally, which are made available directly on their website.
https://tether.to/en/transparency/?tab=reports
You can keep your skepticism, but it helps to update your beliefs on new information.
Re: Show HN: Burner – A low cost wallet to gift crypto
#17I like it and will sign up for one. What funding did you get to launch this? I cannot find the About etc, however I did find the pages slow to load, so maybe I missed it?
Re: Show HN: Burner – A low cost wallet to gift crypto
#18Looks interesting, would suggest going with Solana over Ethereum though, especially in 2024.
Re: Show HN: Burner – A low cost wallet to gift crypto
#19Any concern about conceptual namespace collision? The mobile app Burner is a completely different product (not to mention it fits in with the common definition of the term)
Re: Show HN: Burner – A low cost wallet to gift crypto
#20You avoid a seed phrase, but how? I thought it was "not your keys not your coin".
My understanding is someone who wants secure crypto needs to cryptographically safely generate a seed phrase. For signigicant amounts of money you will want that backed up. I guess if this is like a $50 gift card people are treating it like that and might accept if it gets lost then shrug.