The SATSCARD is an extremely scalable Bitcoin L2 option with very low impact on block space demand.
Discussion
I love the idea and the cool designs. It's the easiest way for now to give a nocoiner some sats. For example, I wanted to tip the guy who delivered firewood the other day and had no appropriate fiat. I handed him some sats on the satcard, told him he should treat it like a banknote and, when ready, follow the URL on the back of the card for more info. Now I hope he will be happy in a few years.
🎯
I'm thinking of buying one. But I don't know if I should choose the Satscard or an Opendime.. I am correct to say the Dimes are more long-term usage, and Satscard more everyday usage?
Both are great. I really can't comment on how they last. Have had both less than 2 years.
SATSCARD is the evolution of OPENDIME.
Opendime is more fun. Breaking things is always more fun. Change my mind
Satscards are fantastic. Works with your phone, can be sealed/unsealed 10 times (instead of 1 time), lower cost. Unless you have a specific usecase for the opendime, get satscard
Well.. I’m not sure I would put it as an L2 though I understand what you mean. But my point is that although there may be some people handing it over to others .. it would only be for physical p2p trades of a medium to large amount so it covers the cost of the card
In a congested mempool situation in a future that can be a good deal compared to the cost of a TX but still I wouldn’t claim it as a good L2.
Better to claim it as a great secure storage with the possibility port it and exchange it directly with someone else with advantages over other tools we had before like having the possibility to reuse couple of times?
The cost of the card gets amortized with every hand over. It will also be cheaper as the scale increases.
It’s just a different way of transferring UTXOs. It is absolutely L2. You are just stuck in one way of thinking about it :)
Hey by the way don’t get me wrong. I definitively love those cards and I want one for me too 😂. But though I agree is a transaction happening in another layer once I handed it over to you.. I think it’s one possible use case but I can’t see it as the main reason why people buys it..
But those cards are very cool.. and I’m always thinking of getting one though not sure how to from Argentina
Except that coinkite knows the seed phrase of the card the entire time. Basically no different from ecash, although I suppose its much less mystery sats as you know when you've been rugged.
Actually yeah, this is bad, but still better than e-cash
No, Coinkite doesn’t know. It takes your pick of chain code to be added to the entropy. http://satscard.com/faq