OpenDime - The Way to Trade Bitcoin Off-chain and 100% Anonymous

kyle.anderson (60) · 8 years ago

This is so not as useful as you might think. While these might be okay for small transactions, like less than 20$ - they are not at all suitable for larger values.

The grand problem: There is no way to verify the bitcoin really is on the key. In the end you are having to trust that a piece of hardware is what it says it is; no the little punch-out does not count. This is different from a hardware wallet in that you are not simply trusting another device to do key signing for you, you need to trust that this device really does contain bitcoin.

Of course this can be done at POS using the blockchain, but that is not offline now is it.

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timifish (25) · 8 years ago

Thanks for the info.

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rangertx (65) · 8 years ago

I can get into a less cumbersome wallet.

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7 votes

fiord18 (14) · 8 years ago

))))))))))))

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techx (25) · 8 years ago

I have just gained access to steemit.com. This is my first reply and up-vote. I am amazed at the innovations we are seeing created in response to our changing and increasingly dysfunctional world. Thank you of the great information.

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6 votes

tuvokhl (57) · 8 years ago

Your comment was at the bottom of this post. i upvoted you and now your post is more higher ;)

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techx (25) · 8 years ago

Thank you!

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themagus (68) · 8 years ago

And just for the hell of it we will move you higher :)

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thehoneybee (60) · 8 years ago

Bump!

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jeff-kubitz (69) · 8 years ago

As a friend and follower of you, @kingscrown, the problems you cite with Bitcoin are exactly the strengths of Steemit, Steem, SBD and are the reasons this platform has a chance to grow and will be adopted with very little capital and costly advertising.

Wallet and income are publicly displayed and yet no one has yet been able to crack Graphene or Steemit or the wallet of any major consequence. Hopefully this will stay so.
Charlie Schrem went to prison for not having and transparent system and questions arose about his responsibilities and actions in the Silk Road Scandal. Steemit addresses that even though it is dangerous and succeeds. Someone of dubious character such as myself while under attack for the very same things can earn openly because there is no doubt where the income comes from. @charlieschrem has the same opportunity to start over and it should be forever remembered that at least two FBI agents were hacking into the system and caught with much graft and theft.

The system was much less secure and Anonymous or perhaps some other organization of intelligence decided to manipulate things so that a nerd could spend time in prison when in all likelihood, hackers hanged him.

So the weaknesses you cite are actually the strengths for millions of people if they realize that there is a certain risk and they are willing to take it.

Thanks for your post for giving the opportunity to voice my opinions on the STRENGTHS OF STEEMIT and Bitcoin and other altcoins to create a hacker free world where writings and objects of art can be displayed and no hackers can steal it off the computeer while it is written and publish it before the author even has a chance to publish it themselves - my focus!

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btcmillionaire (60) · 8 years ago

Interesting... Is there a white paper on it and/or more technical info?

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3 votes

kingscrown (81) · 8 years ago (edited)

Heres FAQ but you can go to their site.
PS Steemit could allow to open Images at ful lwith Javascript or Ajax.

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5 votes

btcmillionaire (60) · 8 years ago

Thanks :)

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eirik (69) · 8 years ago

Just right click on the image and open it in the new tab.

Works in chrome! :)

So probably in other web browsers too!

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newschannel428 (55) · 8 years ago

THANK YOU FOR THE UPDATE

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eric-boucher (68) · 8 years ago

Wow, this is super cool! Maybe the Bitcoin community will launch a second wave of uprise from this?!? Thanks a bunch for sharing this important information that might revolutionize much at this point in time. Namaste :)

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pfunk (72) · 8 years ago

I'd find it hard to trust the thing with any bitcoin. Any electronic device will have a failure rate. And from what I understand, newer solid state electronics won't last as long as older ones due to no lead in the solder used now.

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kingscrown (81) · 8 years ago

Yopu can just buy your guns and bombs and withdrawal right away :)

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3 votes

pfunk (72) · 8 years ago

But the thing might be broken in the first place, and you might send BTC to a black hole.

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arcange (73) · 8 years ago

Congratulations @kingscrown!
Your post was mentioned in my hit parade in the following categories:

Upvotes - Ranked 4 with 636 upvotes
Pending payout - Ranked 2 with $ 979,16

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steemselection (47) · 8 years ago

Great post, resteemed.

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veerall (50) · 8 years ago

Seems like a good way, but expensive. i guess people with 10+ bitconis can afford it. however it would be much better if we come out with simple untraceable way of trading/dealing in cryptos.

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syibran (56) · 8 years ago

Very useful

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tuvokhl (57) · 8 years ago

I knew about that product for a while but now i bought 2 packs.
I cant wait to hold it in my hands. Great project.

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evanb33 (29) · 8 years ago

Do you think this is the start of something? The price is high now, but if competition starts and other developers create something similar that would drive down the cost.

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yogi (64) · 8 years ago

Interesting little device. But I'm not sure if there is any case where I would use this instead of (encrypted) paper wallets...

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indepthstory (53) · 8 years ago

So how long to wait for a coffee if I pay with BTC from the cellphone?

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bigjgc2002 (37) · 8 years ago

I have a 3-pack, but been scared to use them.

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ahmadhassan (51) · 8 years ago

nice info. Keep following and vote

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manycoolthings (48) · 8 years ago

Sounds great...but https://opendime.com/legal check this: "15.Warranty Disclaimer. You acknowledge and agree that your use of Products is at your sole risk and that they are sold on an “as-is” basis. To the maximum extent permitted by applicable law, we disclaim all representations, warranties and conditions regarding the Products or your use thereof, including without limitation any warranties or conditions of merchantability, merchantable quality, durability, fitness for a particular purpose, non-infringement, title, quiet enjoyment or quiet possession and those arising by statute or in law, or from a course of dealing or usage of trade. We cannot and do not warrant that the Products will meet your requirements or expectations, will operate without interruptions, that they will be error-free, virus-free, that the results obtained from their use will be timely, accurate, reliable or current or that any or all deficiencies can be found or corrected." THEY DON'T GARANTEE THEY'LL WORK! 👎

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xiobus (47) · 8 years ago

Amazing

I want some. However, what is to stop someone from creating an opensource hardware version that's cheaper? As long as the flash memory is secured on these devices properly its a good concept. Maybe I'm misunderstanding how the flash memory is being protected.... I also would want to more about it before I get one. But regardless this and more stuff like it should be used in various cryptos....
_{Images 1}

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alaqrab (60) · 8 years ago

Now I have a way to transfer bitcoin retro fiat way. Sounds cool. Sometimes we still need to feel like we are transferring shinny stones just like our ancestors did.

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shaheer001 (57) · 8 years ago

amazing improvement it will overcome all above discussed three problems specially transaction tacking too much time to be confirmed?

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jeffjagoe (72) · 8 years ago

Wow. This is getting gooooood.

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kwahzee (35) · 8 years ago

I'm not all that up to speed with how to keep bitcoin anonymity but... Couldn't you use a bitcoin tumbling service in order to make purchases anonymous? Or is it illegal to do so?

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cheapogroovo (54) · 8 years ago

and some of those unconfirmed transactions are mine. Hope my creditors can wait.

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https://steemit.com/introduceyourself/@rizaldamti/hii-steemit-introduce-my-name-muhammad-rizal-damyati-2017525t19516304z

rizaldamti (62) · 8 years ago

Im following you
Have a nice day
Im vote you

@kingscrown Follow me @rizaldamti

Im a new memeber in steemit

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srinijaani (49) · 8 years ago

Top Notch !!!!! Do we have a white paper ?

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sandstorm (67) · 8 years ago (edited)

These will definitely be useful in many situations. Good stuff.

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leomichael (68) · 8 years ago (edited)

Wow~~~
nice !!!!

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forykw (64) · 8 years ago

"Amount of BTC on the machine can be checked by connecting it into any USD port of computer." -->> "Amount of BTC on the machine can be checked by connecting it into any USB port of computer."

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joebloggs67 (36) · 8 years ago

Nice idea but price is a bit steep

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gardengirlcanada (60) · 8 years ago

I am still trying to comprehend all this new Crypto stuff, Blockchain, and such. Thank you. It SUCKS getting older, and desperately trying to keep up.

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suziescorner (50) · 8 years ago

Good information!! Thanks for posting. I'm learning but it can be overwhelming.

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freelibre369 (39) · 8 years ago

Hi guys, im looking to buy 30 to 50 btc daily, anyone know where are can buy and cheaper.

Thanks

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elevator09 (71) · 8 years ago

nice post! upvote @elevator09

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codydeeds (66) · 8 years ago

Awesome, thanks for the post!

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aqeelmalik (54) · 8 years ago

steem is a great currency and steemit provide us an opportunity to earn it for free great place greate people

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kda2018 (45) · 8 years ago

Congratulations on the news and information, I'll be accompanying you from today, success.

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codypanama (57) · 8 years ago

Glad to see people are working on the real issues regarding the blockchain.
Satoshi did made a incredible prototype.
But the turds in the punch bowl are making there way to the surface LOL
Keep on keeping on !

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indiantraveller (60) · 8 years ago

Very nice..Keep it up , Upvoted

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jdawg (53) · 8 years ago

Another great article! Thank you
Here is my 2nd article on Steemit: https://steemit.com/money/@jdawg/diversify-out-of-the-dollar
I would appreciate an upvote and resteem!

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sacred-agent (61) · 8 years ago

Insightful article on how to diversify out of the dollar @jdawg...

Just UpVoted, ReSteemed & Following... please consider following me. Thanks again 4 Your post !!

        ~~~ STEEM On !!! ~~~

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jdawg (53) · 8 years ago

Thank you! I appreciate it. Followed as well

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doesntmatter (38) · 8 years ago

How is this not traceable?

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noagenda (58) · 8 years ago

That thing still has almost no use-case.

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jailbot (38) · 8 years ago

Nice info but pls add more infos about this device!!

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jamhuery (61) · 8 years ago

Thanks for your information @kingscrown

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jocra (57) · 8 years ago

And if you trade BTC to Dash, at least, and send Dash. It not more efficient?

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stillwater (61) · 8 years ago

Up voted! Always happy to get info on btc and other digital currencies. BTC wallet if anyone is feeling generous and would like to donate..... it's pretty empty...I, like many others, started late.........1N232x2Bt4rJ2Z1ys2zfx8mSmTW7uWXtZ7

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bearbear613 (67) · 8 years ago

Wouldn't a couple of gold coins do the trick?

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lautenglye (54) · 8 years ago

upvote and rs for you...

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