Post
Topic
Board Project Development
Merits 5 from 2 users
Re: Digital Bitcoin Giftcards
by
dgoon
on 27/10/2022, 22:09:57 UTC
⭐ Merited by LoyceV (4) ,ETFbitcoin (1)
Thanks alot for checking out the app SFR10. I'm glad you thought it was simple, that was one of my founding ideas for making this. The wallet is fully in ran in the browser. There is server that holds the encrypted wallet info for transferring between people but the information is encrypted with the giftcard and has 128 bits of security. So its non-custodial as a web wallet like  The gift recipient will be given the option to spend the funds as they see fit. They might choose to buy a giftcard from me with the funds. I would make money from this transaction, but its not a required transaction for the gift recipient. They would be given other options such as setting up a phone wallet or swapping to another crypto that they can choose from. Once the wallet expires the funds will be refunded back to the gift sender. The server would hold a refund transaction to broadcast once the wallet expires. The wallet lives in the senders browser, so they can retrieve the funds at anytime they choose. Thanks for the great questions around custody, there is a lot of nuance to be had so I hope I was clear in communicating how this is non-custodial from the technical aspect. At no point can me(my service) send your funds anywhere you did not sign a transaction approving for them to go. If the website goes down, the code is open source and runs locally. So the user can clone the repo and continue on their way. Feel free to ask anymore technical questions about custody with the gifting app.

As far as paper wallets go. There are a lot of informed people who hate paper wallets and think they should not be used for gifts like andreas antonopoulos . I don't mean to appeal to authority but show that people have different opinions of the use of paper wallets. That goes to say that because you like paper wallets that does not mean that they are the best for everyone, and some people would like the convivence of an app to gift bitcoin. This app will be just theeasiest way to gift btc without app download or kyc, since a paper wallet requires an app to use. Even open dimes requires an app to use. If you don't think an app download is a big deal that's is a reasonable opinion to hold. The opinion that an app download isn't too much to ask does not change the value prop of this app, you just don't find the value proposition of the app to be useful for you.

Thanks for feedback and questions also, I can see that effort was put into them.  Grin