Post
Topic
Board Project Development
Re: [ANN] Satoshium: Minted Bitcoin
by
alexkravets
on 14/01/2017, 00:02:37 UTC
I just do not feel like bitcoin as a physical coin/bill will work at the current state. It was made for anonymity and cheap transactions, not to be used as physical currency. However this is something I will buy anyway since I like having a nice collection of physical bitcoin stuff  Grin . Already bought a Satoshi note and a 3-pack of Opendime sticks. Maybe sceptical people and total newbies to bitcoin will want to use these on a regular basis, but I just simply prefer fiat over physical btc when doing my day-to-day purchases.
Cheers!

Let me point out that at this stage we are NOT arguing for using Satoshium for cash-like physical currency transactions.

We simply wish to ease onboarding and savings into Bitcoin for your average "dentist" and "lawyer" by providing Bitcoin with User Experience of Gold and Silver coins. The idea here is to allow trustless onboarding and occasional redemptions and re-sales while relieving the end user of all the mental overhead and low level protocol details of Bitcoin such as: addresses, public/private keys, transactions, confirmations, change, fractional amounts, secrets, backups or pin numbers.

Would you rather give your second cousin a satoshium or a paper wallet with some weird looking QR codes and Bitcoin "public" and "private" keys ?

The question is rhetorical. We created Satoshium as trustless onboarding mechanism, which allows people to simply hold and eventually redeem or resell their bitcoin without having to either trust the onboarder or ask for help in selling or redeeming their bitcoin later.

Cheers ...