Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin physical bearer instrument using NFC JavaCards

satscard.com

Post reply on HN
Print view View original

11–20 of 120 posts

Re: Bitcoin physical bearer instrument using NFC JavaCards

#11

Post by PretzelPirate »

brianf0 wrote: post #5
CrampusDestrus wrote: post #2

We could print pieces of folded paper containing wallets with a standard amount of satoshi and.... wooops, we just invented cash again

This is reductive. It may bear some resemblance to cash but it's more like a voucher, and the actual value is transferred on an immutable ledger. Wish Hacker News wasn't so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

Exactly. The idea of cash is great: we can pay each other without intermediaries and we know that the payment we're receiving has the value it appears to.

Moving to a cashless society has some real drawbacks when it comes to privacy and freedom.

Digital cash that can give us the befits of paper money without the privacy drawbacks of CBDCs or 3rd party middlemen isn't a bad thing at all.

Re: Bitcoin physical bearer instrument using NFC JavaCards

#12

Post by arcticbull »

V__ wrote: post #9
brianf0 wrote: post #5

Earlier quoted context omitted.

This is reductive. It may bear some resemblance to cash but it's more like a voucher, and the actual value is transferred on an immutable ledger. Wish Hacker News wasn't so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

I'm not going to argue against some benefits' crypto can have. Especially with the under banked. But it had over a decade to improve society and so far the main use case is: Trick people with tech-bro talk and then scam them.

> I'm not going to argue against some benefits' crypto can have. Especially with the under banked.

The under-banked don't have bank accounts because they don't have money. Nobody with money has trouble accessing a bank account. There's tons of online-only bank accounts you can open, often with no fees and zero or limited minimum balance requirements. Ally or Schwab in the US. Internationally, there's Wise, and all sorts of regional options like M-Pesa in a number of African countries. Historically we've had postal banking.

The problem is a social one, for congress to solve.

It's akin to saying people are hungry because they don't have grocery bags. The issue isn't the lack of bag, it's lack of food to put into it.

Re: Bitcoin physical bearer instrument using NFC JavaCards

#14

Post by dragonwriter »

brianf0 wrote: post #5
CrampusDestrus wrote: post #2

We could print pieces of folded paper containing wallets with a standard amount of satoshi and.... wooops, we just invented cash again

This is reductive. It may bear some resemblance to cash but it's more like a voucher, and the actual value is transferred on an immutable ledger. Wish Hacker News wasn't so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

> Wish Hacker News wasn’t so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

Is it curmudgeonly to be uninterested in searching for problems for an overhyped solution than is sadly lacking in them? Well, fine, then I’m happy to be a curmudgeon.

Re: Bitcoin physical bearer instrument using NFC JavaCards

#15

Post by amanj41 »

psychphysic wrote: post #4

How's it work? Website explains nothing.

There's a video. It would appear there is an app on your phone which contains public wallet information, but then this NFC card contains your wallet private key. The card is encrypted with a short pin code. If you want to make a tx you have to use phone app and tap card to phone to sign the tx (after typing in the PIN to decrypt key)

Re: Bitcoin physical bearer instrument using NFC JavaCards

#16

Post by zinekeller »

brianf0 wrote: post #5
CrampusDestrus wrote: post #2

We could print pieces of folded paper containing wallets with a standard amount of satoshi and.... wooops, we just invented cash again

This is reductive. It may bear some resemblance to cash but it's more like a voucher, and the actual value is transferred on an immutable ledger. Wish Hacker News wasn't so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

Maybe it's because most of those people have actually sincerely thought about it but saw cryptocurrencies to be a worse solution than the current ones? Most cryptocurrencies are fiat currencies (just not derived from government trust) after all, and most currency problems stems from those questions of trust (so let's assume that everyone adopts one: it won't solve any societal problem).

Re: Bitcoin physical bearer instrument using NFC JavaCards

#17

Post by mjburgess »

V__ wrote: post #9
brianf0 wrote: post #5

Earlier quoted context omitted.

This is reductive. It may bear some resemblance to cash but it's more like a voucher, and the actual value is transferred on an immutable ledger. Wish Hacker News wasn't so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

I'm not going to argue against some benefits' crypto can have. Especially with the under banked. But it had over a decade to improve society and so far the main use case is: Trick people with tech-bro talk and then scam them.

Sorry, but can we just stop repeating the wildly unevidenced claims of the gullible and frauds?

Who are the 'underbanked' ? What are their needs? What are the current solutions?

There is nothing "there" in crypto. It's a scam. Go and obtain every textbook you can on amazon about blockchains, bitcoin, crypto systems etc. and investigate their authors.

I've just done that: they're all part of various crypto schemes. They all make these insane claims in passing. NONE provide any evidence, any argument, anything at all.

None provide an analysis of the current systems in question, the various alternatives, and so on -- none show that blockchain is even minimally relevant to solving ANY problem.

This is a profoundly manipulated market: all the numbers are fake, all the ideas are fake, all the people are fake.

Re: Bitcoin physical bearer instrument using NFC JavaCards

#19

Post by ElevenLathe »

brianf0 wrote: post #5
CrampusDestrus wrote: post #2

We could print pieces of folded paper containing wallets with a standard amount of satoshi and.... wooops, we just invented cash again

This is reductive. It may bear some resemblance to cash but it's more like a voucher, and the actual value is transferred on an immutable ledger. Wish Hacker News wasn't so curmudgeonly about crypto and actually tried to imagine the multitude of ways it would improve society if adopted.

I'll bite: What are some of the multitude of ways that cryptocurrency can improve society if adopted?

Re: Bitcoin physical bearer instrument using NFC JavaCards

#20

Post by brianf0 »

lobstrosity420 wrote: post #8
CrampusDestrus wrote: post #2

We could print pieces of folded paper containing wallets with a standard amount of satoshi and.... wooops, we just invented cash again

Yeah, it’s the same thing as government issued currency the moment you put it in paper. A corollary is that digital dollars on your banking app is just like crypto.

Not the same, BTC can't be created / devalued at will.
Post reply on HN