I do uber on the side and would like to get 2 green bitcoin cash stickers with my qr code on them. Ideally I'd stick each on the inside of the two back passenger windows, I think that'd be a subtle professional look. Anyone know where I could get these?
I've seen business cards like this but does anyone know if there is a supplier that you can get your wallet QR code with some text at the bottom. I'd like something where a wallet code is on top with something like "Honda CRF250L fund" or "Travel Fund" below the QR code with a small bitcoin logo to the side (or in the QR). Looks like this would be a good opportunity for someone that knows how to print vinyl stickers.
Stickers with free Bitcoin Tips (QR codes) all around your Town.
Okay, you want your neighborhood know about Bitcoin? Just print QR codes + i.e. Love-Bitcoin Logo on weather-proof laser sticker paper. Put some Cents on each (depending on #stickers and your generosity). Get some friends and do a night of putting those on any corner of your city. It will be a simple runner, because people will recognize the numbers and talk about it, because its worth something, its somehow geeky, its rather unknown... FunFact: watch as people collect the tips on the Blockchain. If you write down the coordinates you can also find out the most active areas. And you can re-collect unclaimed unspend outputs at any time. If you are creative you can utilize BIP38 with some quiz on each sticker. Example: If you put one sticker on EACH gas-streetligth in a city of ~600.000 people you need "only" 3000$ to put 20Ct on each gas-streetlight (numbers from my hometown). Sure, this example is a bit extreme. Just take your local district and place a couple of hundred bucks will have an effect that, if luckily, you can also read in your local newspaper. When I'm going to test it, ill post results here. Maybe we can make a collection and organize this for a certain area together.
How can I make this "bitcoin geocache" project happen without letting wallets get imported?
I read an article about how people are hiding BCH wallets around San Francisco and had an idea for a cool project. I want to put stickers with private key QR codes around town and allow people to scan them when they find them and sweep the funds into their account. Kind of like some of the existing "bitcoin geocache" projects that are out there. But, I want the wallets to be re-usable, so that once a sticker is found, I can re-fund that wallet for the next lucky person. Sure, someone could keep a picture of the QR code and sweep it regularly, which is fine, but what I am worried about is people importing the wallets and getting notifications any time they are funded and immediately draining them. Is there a way to allow wallet sweeping but prevent someone from importing the wallet into their app? Does anyone see any other viable way I could do this? I'm hoping to fund the project with donations, was thinking I could have a public address and write some script or something to automatically distribute donations to random wallets around town. The idea is to spread awareness and educate locals about crypto by letting them find free money.
Idea: An app to allow people in the service industry to set their phones to broadcast "I Accept Bitcoin Cash" - your phone can detect such a broadcast and allow you send them a BCH tip.
Google has a feature in Android called "Nearby". This allows nearby android phones to interact. I am hoping this can be used for people to "silently" advertise crypto acceptance. People at the grocery store checkout, the guy making your burger, ANYONE. The key here is covertness. The employee doesn't need a QR code sticker on their arm or advertise in any way that they accept BCH - they don't need their boss' permission nor do they need anyone's permission to make extra tips. Your Uber driver, pizza delivery guy - even the receptionist at the dental office. If this works, I wouldn't shy from calling this a killer app for Bitcoin Cash adoption.
How are the unbanked supposed to be their own banks without banks?
How is anyone expected to get “away from the system” with cryptocurrency? Let’s say Joe Bitcoin is moving out of his parents house and wants to use only Bitcoin. He’s never had a checking account. His parents bought him some bitcoin for Christmas or whatever. He applies for work that he’s well qualified for. He insists he be paid in bitcoin. Eventually the payroll department says they can use some third party system but it’s going to require some paperwork because of volatility and accountability. Can’t have Joe saying he was underpaid because a crash happened after payroll was processed. So, there we go. He has his job and is paid in bitcoin. Let’s look at apartments. There’s a decent one he can easily afford. Time to pay first/last/security. Does the management take bitcoin? No. And they don’t want to. Stop talking, Joe. They’ll require a check or money order. Fuming, Joe looks up a bitcoin money order service. Plenty to buy bitcoin with a money order, but Amscott doesn’t seem to let you buy them. Localbitcoin comes to the rescue, as someone will purchase the money order for him for a 20% mark up. As long as Joe doesn’t have to use a lousy bank. It takes days to get done, but Joe drops off the money order to the management and moves in. “Make sure you have the power transferred to your name or it will be disconnected,” they tell him. Joe fires up his laptop and visits the power company website. Hmm. They don’t take bitcoin. He tries another... oh. There’s only one power company. They want a deposit online via checking or savings account. Joe has a brain storm. He goes back to LBC and finds someone willing to buy from him for cash... less 15%. But this will work! Joe will give the cash to his parents and put their name on the account. He’ll just give them the cash each month. They try to talk to him about it but at least he’s not in their house anymore. Now for internet access. Oh. Not accepting Bitcoin. Ring ring, hi mom? Yeah, same thing. Thanks! Man, Joe has worked up an appetite. Time for food. He goes to that nice counterculture coffee shop. Oddly, they don’t take bitcoin either. But no worries, he now has his handy bitcoin ATM card. Sure, it still pays the store in filthy statist fiat, but it’s not Joe doing it. Insufficient funds? He just put .05 btc on it. What—- oh. Some whale unloaded. He’s now short a few dollars... err... satoshis! That’s okay, he will just transfer more. He pulls up his app, logs in, waits for the 2FA to authenticate, and moves .01 btc from his hot wallet to his debit card. Hmm. How much for the transfer fee? He needs this quick. There’s a line forming. People are angry. “Will you be paying?” The cashier asks. Yes, yes, just one moment. He decides on a .005 btc fee. It’s half the transfer amount but it should get done, right? Minutes later Joe is asked to step aside until he’s ready to pay. Twenty minutes later, the funds are moved. He even has two confirmations. He returns to the line, puts in his order again, pays, but doesn’t add a tip on the card. Instead he reaches into his wallet, pulls out one of several QR code stickers and drops it in the tip jar. He winks at the pretty cashier, having given her a pretty nice tip. She sighs, retrieves it from the jar, and throws it away. “That’s not a trash can,” she tells him. He silently rages. That fucking bitch. How dare she. “Move it along, pal” says a man in line behind him. “Cheese sandwich, please,” he asks the cashier. “$4.25,” she tells him. The man pulls out his phone, taps it on the card reader, and instantly receives a “bing” of happiness. Joe looks at the man in utter disgust. “Fucking statist thug,” he thinks to himself. “Dumb bitch,” he says in his head about the cashier. He’ll have to ask to get that out of the trash and then lecture her. He doesn’t even have time for that, and now he has to. Joe gets an alert on his phone. Bitcoin prices just dropped $300. He hopes his paycheck hadn’t been processed yet. That’s how.
Had an excellent dinner at Crudos in Wynwood (Miami). Saw the bitcoin accepted here sticker on the door so I asked to pay with BTC. The server was a little nervous and confused, seemed he hadn't done that before but was sort of aware of it. He went and grabbed his manager's phone (maybe the owner?) and passed me the QR code. Sent payment plus tip.. zero confirmation transaction... done. Got me thinking.... 1.) Someone mentioned the owners are Venezuelan. I can't confirm, but it made me feel good that possibly they have family back in VZ that could somehow benefit from BTC. USD can't go there easily. BTC is all-terrain. 2.) This was my first "meatspace" BTC transaction. It was a little bit strange just sending BTC to some manager guy's wallet on his phone (that went into screen lock while I fiddled with my wallet). I mean, its fine and I understand it is a rare occurrence, but are there some branded wallets out there or something that that make things a bit more "official"? Also, I expected a dedicated device/ipad or something considering the servers take orders with devices. 3.) Lightning is needed. Realistically zero conf transactions are adequate for restaurants. If I paid with a $100 bill they wouldn't know if it was counterfeit until I was long gone. If I paid with credit card I could dispute the transaction a month later. Etc... But still, the dood's wallet didn't support lightning and things will be just better when all parties know the transaction is clear. The pork belly appetiaer and Crudus roll was excellent
The abbreviated name of Tkey Messenger is tkey.me. First of all, TKEY-ME is a secure messenger with p2p audio and video calls, and in the future, a built-in digital wallet.
“Every day we communicate in messengers. We earn money at work. We make purchases and transfers. We are here to combine these processes in one application and make sending funds as easy as sending a message”
The Tkey Messenger as a new ecosystem
Do you think we are here to compete with other messengers? — No, there are a lot of great messengers. We are here to create our ecosystem and the internal market in it. Combine these processes in one application and make sending funds as easy as sending a message. After all, we work in the field of FINTECH, cryptography, and blockchain, why not apply the best practices and knowledge in practice? Therefore, the TKEY Messenger should be considered for a large ecosystem. This is a new payment segment that covers fast communication tools in combination with an internal payment system, a set of exchange practices, blockchain, cryptography, our own experience, and the experience of global companies.
You or your relatives live abroad and you want to send funds quickly, for example, 2600 USD — you just open a chat with your loved one, send a message and 2600 USD in the same second become available on your loved one’s account. https://preview.redd.it/nmz4ienrue651.png?width=697&format=png&auto=webp&s=c3902fc0df1ed2eba425c3f3db3eb8c40bc7a237 It turns out that you can exchange Tkeycoin for USD, EUR, or GBP in a matter of seconds, as well as instantly send them to any place in the world and without hidden fees, the exchange amount is immediately available on the screen. Or you have Bitcoin, and the Recipient needs dollars — Tkey Messenger will take care of all the complex tasks, you will only need to send a message to make the payment.
Each completed payment will be processed through adigital payment systemwithout Bank intervention. You can link your Bank card to automatically withdraw digital funds to your local currency.
“Moving money around the world should be as easy and cheap as sending a message. It doesn’t matter where you live, what you do, or how much you earn.”
Send TKEY or Bitcoin via message, has it become a reality?
In Tkey Messenger, you will be able to quickly send digital currency using a message. You can not specify a public address, but send a digital currency using a message.
Instantly send funds to friends or relatives anywhere in the world. No Bank, no problems, no hidden fees.
Top up your mobile phone or pay for the Internet?
The usual payments, such as the Internet or mobile payments, will certainly be available, because if we can transfer pounds from England to Canada in a matter of seconds, and the recipient will receive dollars, why can’t we make a payment for the Internet? “Of course you can.
What do we get in the future when using a Tkey Messenger?
We get an ideal payment system with instant transactions, fast access to various currencies, including digital, instant international payments, a huge platform for business, a marketplace with trusted sellers, secure transactions, while fast communication, p2p calls, and video communication. Not to mention various chips, in the format: cashback, savings account, invest. products, etc.
International transfers without Commission and in seconds;
Instant account opening — just create an account to get access to payments;
Access to funds 24/7/365 wherever you are.
Multi-currency wallet — you can use both digital currencies and classic currencies, such as the pound, euro, and dollar.
Payment in digital currency anywhere in the world.
The mobile Finance industry is developing rapidly against the backdrop of a growing number of Internet users and the increasing role of smartphones in modern life. Today, the mobile device market attracts about 2 billion people, who remain passive players in financial markets.
With the Tkey Messenger access, you always get access to instant Finance, shopping, and the nice things you want to get here and now. In practice, it has turned out that we can often forget the keys to the apartment, rather than the phone, so your finances will always be with you.
The Tkey Messenger version 1.0.0 is the core that opens up new features that we discussed above, payments, and more. Now it is a convenient and stylish messenger with an intuitive design, instant messaging, and secure audio and video communication.
The P2P audio and video calls in a Tkey Messenger
When creating the first version, we focused on high-quality video and audio communication. Now you can easily call by video and be sure that you will get a high-quality video stream, as well as the absence of restrictions from third parties because the connection is carried out on the principle of p2p.
Audio and video calls are made in p2p mode, so there is no recording of calls at all.
The web version of Tkey Messenger is available at → http://web.tkey.me/. The web version has full call functionality, so you can easily call through it, both via video and audio. Video calls are available with the “Share” function, you can easily “share” your screen for the interlocutor and show what is happening on it. This function can be used for presentations or training events.
Screen Sharing is a demonstration and broadcast of the screen. “Share” your screen for the interlocutor and show what is happening on it.
In the web version, you can launch a group video call. In the chat, tap the “handset” icon — the call will be sent to all participants in the chat, so all participants in the group chat can hold a video conference of up to 50 people. The user can turn on the camera and not turn it on, but simply participate in a video conference via audio.
On average, messengers that support the function of video calls in high quality, hold a video stream of no more than 8–10 people.In a Tkey Messenger, group conferences support up to 50 people. Soon-public online broadcasts and streams.
The first version only supports private chats and group chats. Group chats are also completely private, so there is no “Share” function, only the chat participant can invite another participant to the group chat.
Create your thematic chats. Work. Family. Friends. Be the first while we develop. Soon-public channels and chats.
Each participant, when they click the “Exit and delete” button, deletes messages and information from the chat on their side. In group chats, all information is deleted by the last person to leave the group chat. After deleting-all messages, media, photos, and other data that were in this chat are automatically deleted. If all participants leave the group chat, it will be automatically deleted, and all information published in the group chat will also be deleted.
The chat between the two parties
This is a classic private chat between two participants, instant messaging, sending media. The rights of the participants are equal. Any chat participant can delete the entire chat. after deleting all messages, media, photos, and other data that was in this chat, it is automatically deleted.
Our developers do everything to make Tkeycoin products as clear and convenient as possible for our users, so the process of using Tkey Messenger is very simple. If you want to install TKEY-ME on your laptop or computer, just download the installer from the official website and enjoy it.
Send ideas and suggestions about new features to [[email protected]](mailto:[email protected]) — we will be happy to receive your feedback. Please also send any errors or bugs you find to the above address. To sum up, a Tkey Messenger today — concise design, color schemes, messaging and photos, group chats without restrictions, audio and video calls, multilingual version, group conferences for up to 50 people, peer-to-peer connections for calls and messages, push notifications, statuses, adaptation for all popular platforms — iOS, Android, Web, Windows, Linux, macOS. The Tkey Messenger is a powerful payment system in your mobile. If you are interested in this, then we are on our way — join us https://tkey.me/. https://preview.redd.it/3k02x1luxe651.png?width=1316&format=png&auto=webp&s=8e0fbd57edd29edc2aaee62b409dd3690b2b1c4b
Apparently, Christmas is on Halloween this year! :) [Winner's Thread #35]
Where to start? I think my first post-realization post pretty much sums it up. I guess it's a tasteful combination of surprised shock - because I'm the unluckiest fool on Earth when it comes to these things, I've never so much as won a sticker in a tombola -, guilt - I used to participate pretty regularly in this sub, but the last couple months I kinda lost track of it. I almost didn't participate actually, as I think the last winner or two probably didn't get the usual couple $ from me (I'll make up for it!), and only really commented because I thought the rake thing was funny -, and elation - as this couldn't have come at a better time. Winning is the kind of thing that I daydream about, and I love the idea of the community participating in making others' lives easier. This sub and its concept is awesome, and I love being a part of it (even when I don't win)! I don't usually like to talk much about myself online, but y'all deserve to know a bit about who you're helping out :-) So, I'm 33, I live in Belgium. I'm a biologist, I have a cat, 4 birds, and a husband. My username is actually partially based off the name of one of my pets, Kiwi, a little conure that I helped save when she was a baby birb. Love of my life (sorry, hubby!). Life has been overall good, I know I'm lucky compared to many people, despite things being a bit rough and complicated recently, having a hard time finding work and such. We're not rich, but we have a roof over our heads and food on the table, and we've even been able to splurge a bit for our wedding this summer (well, more the honeymoon than the wedding itself, tbh), thanks to our friends who helped out. I might not have much, but I try to be generous with what I do have, and to be a positive addition to the lives of people I cross. So what am I going to do with all these sudden riches? Well there was a nice little luxury villa in the Bahamas I had my eye on... More seriously, a good part will probably go to helping pay some bills that just popped up, like my kitty's recent vet visit, and rent which has just gone up. Then according to what's left, I would love to be able to take my husband out to a nice restaurant or a concert he's been eyeing, because he's a good man and I can't gift him these things as often as I'd like. Then, if it's possible, I'd love to fly over to see my brother, who lives in another country, and get to see my nephew for his birthday. We'll see what's possible :-) either way, I'm so grateful to all of you! I just want to end with a big shout-out: to the mods, who are really friendly and do a great job a running this sub, and and u/lilfruini in particular who so patiently helped work through timezone and technical issues; to the community as a whole, for making this kind of thing possible, and restoring faith in humanity's ability to share and care about others; and of course, last but not least, to all of you, whether you donate or just leave a friendly comment, for bringing a smile to my face today and whenever I'll be raking my leaves :-) Cheers to all of you!! PS: Haiku! It seems I have won Amazing rakes incoming! Leaves on lawn no more. Edit: I'm blown away by the generosity. Every single one of you are amazing people! I hope you have a fantastic day <3 Edit 2: [Updated again!] As per request, here are the winnings so far :-)
Bitcoin cash: $31.18
ETH classic: $1.22
Total = $1876.18 Thank you so much everyone, you're amazing!! I'm trying to answer and thank all of you personally ❤ I'm sending out big hugs also to those who have donated without leaving comments below, thank you so much! And also, a special high-five to one of you who sent me a PayPal request for a 1$ payment :-D don't worry about it, happens to the best of us and I had a good laugh :-D Cheers everyone! ❤ Edit 3 & 4:Kitty tax! and some birdypics This part is written by the mods:
All of the amounts below should result in lilikiwi receiving about $1 USD.
Methods of payment:
| Guide | Amount | Comment this to donate :- | :- | :- | :- Tippr | Guide | $1 | “tippr $1” ChainTip | Guide | $1 | “chaintip”, then send $1 to the address
Here is a new Bitcoin Cash adoption site similar to bchpizza for getting BCH accepted in coffee shops. Contribute BCH to your city and someone will onboard a shop (basically, with bitpay). The shop and the claimant will split the bounty, rinse and repeat. It has some differences that I think may make the adoption process easier: No minimum contribution, no need to sign messages and no video required. Only 3 things are necessary to claim a bounty:- A picture of the shop with a "Bitcoin Cash Accepted Here" sticker- A bitpay bill sent to [[email protected]](mailto:[email protected]) for half the bounty amount (optionally their BCH address)- A google maps link to the shop (they must have a phone number) *EDIT: For the time being, new shops will be displayed and corroborated by other community members in the /BCHcoffee subreddit before considered valid. This is intended to protect contributor funds, discourage fraudulent claims and create a more transparent validation proecess. I would like to be able to print mass amounts of stickers so that I can just mail them to people and make their lives easier. However I could really use the good counsel of a graphic designer who is familiar with cmyk printing. If that's you, please let me know. Each city has its own dedicated address and qr code which makes it super easy to participate. Every new shop will be featured on the front page of the site along with the person who claimed it (if they want) and the total bounty. I will also add a map marking all the shops if people start adding them. Shops will be verified via their bitpay account. On the off chance that they want to hold BCH they will be verified via a microtransaction sent to their address. Several people have told me that the site won't receive contributions if I don't give out all my personal info, make a video of myself, etc. That's fine. I am not interested in giving up my privacy at this time, so if you don't feel comfortable using the site, then by all means don't. It's just something I made for the community because I strongly feel that something needs to be done about adoption. On the other hand, if you think risking 10 cents on something that is obviously not a scam is worth it to see new shops accepting BCH in your area, then go ahead and give it a try. Either way, I will be around on this sub going forward so, hopefully, with time, the project will gain trust, acceptance and grow. If not, oh well. I tried. EDIT: Thanks to all who have contributed so far. Just wanted to give a quick update on a change in the validation process. In order to both protect contributors from fraudulent claims and encourage users to focus on shops that will actually be frequented by BCH customers, for the time being all claim info will be posted in the BCHcoffee subreddit and subject to corroboration by other users who live in that area. This will also increase the reward for shops who participate, open up the project to the community so that all can participate in a transparent validation process (which is really the goal here: a community project) and hopefully have a positive synergistic effect on the project. Claimants are encouraged to create the post themselves in order to speed up the process, though I will do it myself if I have to (when I get a chance). Additionally, although I don't want to get ahead of myself (who knows if this will even go anywhere?), I just want to make it clear from the get-go that this is something I'm doing voluntarily in my free time, simply because I think spreading Bitcoin adoption is important. As such, I can only dedicate my time to it to the degree that my life permits. If and when the project becomes unmanageable for me (or, preferably before) I would hope that other trusted members of the community will step in and help out, if not take over the project completely. Until then, please rest assured that I will do my best to keep the project running for as long as possible and in the most ethical way possible.
Although not everyone got to win, here's a list of each submitted project and video demo. Please share to for the exposure of our amazing hackers please! If you're a VC or business, please take a look at these amazing projects and people!
Share an idea related to Monero OR a project you are working on.
So many customer support questions lately, which is great: perhaps a sign of real usage and adoption. But I love, sharing ideas, or hearing about what other people are doing. Even if they are complete shit, or communicated poorly as I find that they, at the very least help me practice skepticsm and critical thinking skills: understanding why something is a good or a bad idea. As well as communication skills: be it deciphering what someone means or learning to verbalize your actual thoughts and feelings. But at the best, sharing ideas leads to other people having those ideas: some capable of executing it. Some people being smarter and mutating a poor idea into a great idea, etc. Some examples: My recent, very small, pro Monero project: I purchased a 2ft tall, 3ft long sign to sell self serve quail eggs in front of my house, along with pickled quail eggs, freshy harvested oyster mushrooms, mushroom grow kits, and whatever else I find (vegetables I grow, plants I've propagated, etc.) The road in front gets about 18,000 cars going by it each day. The sign and self serve stand will have a Monero sticker and a QR code, with a big discount. Its mild, but I think it has potential to inspire many local homesteading types around me that, if you don't trust the government and corporations with your food, why should you trust them with your money? If nothing else, it brings awareness, allows me to connect with local monero enthusiasts, and it'll also act as a point of conversation and opportunity to educate. An idea I have is that we could somehow design an anonymous parcel delivery system that uses Monero and somehow routes packages from sender to receiver while concealing the origin point at each hub and the final destination of the package. I'm not sure how this would be done but it seems like a worthy project, one discussed many times before, but still wholly underappreciated in its importance. Cryptocurrencies only handle one single side of transaction censorship. Yes, it's true that bitcoin or monero cannot be censored in regards to receive, sending, or transferring in general but most transactions are for physical goods or services, and these can more easily be traced and censored. Using layered, tamper proof packages (easy... unique glitter on tape creates impossible to replicate unique packages, verified by images before hand) and QR codes to reveal next destination but not final destination... I could see a decentralized or federated anonymous parcel delivery service being developed. Lots of uber drivers, truck drivers and communiters could participate for some profit, and theft of packages could be completely mitigated by having the carrier pay the cost of the item and "selling it" to the next carrier, by adding in their predetermined shipping fee. What ideas and projects do you have going on? Perhaps we could do a "Sharing Saturday" type thing, as this could inspire some to engage in grass roots stuff, as they see all the other ways people are taking small steps to help monero succeed. So much of moneros success isn't just in high quality features and code but also you need people being wierd and requesting it for payment for quail eggs on the side of a road ;) (As well as requesting it for online services, questionably legal items, censored books, etc)
I want to ask small shops in town if I can implement Bitcoin Lighting for them
I just go in the store and ask them if they want to accept payment in Bitcoin. All they need is a sticker with a QR code and done. I can even give them the chance to either get the revenue in fiat or if they want their own wallet to get the revenue in Bitcoin. If they want it in Bitcoin we can set up a little contract that goves them the right to send me invoices weekly for example and then I pay them back what they brought in with Bitcoin. This doesn't even involve trust because I see all the transactions that come in through the Lightning network. Now that I think about it I could even create a little webapp that lets the cashier choose the product they want to sell to the customer and it automatically shows them the current price in Bitcoin. Edit: I'm not sure if the sticker would work. Is the amount that is being sent attached to the QR code? In that case I'd need to make it work with a little screen that shows the correct QR code. I am just currently downloading the blockchain and installing a lightning node on my raspberry for the first time. So, yes, this is a bit far in the future for me. But it seems doable.
Owning bitcoin is knowing a private key which can be used to spend a bitcoin UTXO. If any other person knows this private key, they could spend the UTXO. For this reason, you must keep your private keys secure, and secret.
Scams & Frauds
Scammers have been attempting to take bitcoin from uneducated users for years. One way to do this is to give an uneducated user a bitcoin wallet for which the scammer knows the private key. The scammer can simply sit back and wait for the uneducated user to send bitcoin to this wallet, and at any time they can send all the bitcoin to their own address. The most malicious scammers may wait months or years before stealing the bitcoin, ensuring they steal as much as possible.
Recently a kickstarter campaign has gone live for 'ballet', a product which purports to be a simple and secure way to hold bitcoin without any setup. This product is shipped with the private key & an address physically printed/engraved on the product. Specifically there are 3 elements to the design;
An encrypted private key printed on a sticker.
A 'wallet passphrase' engraved on the product with a scratch-off sticker covering it.
A public address printed on a sticker, stuck on top of the encrypted private key.
Anyone who can combine (1) & (2) can spend bitcoin sent to the address (3), be this person the owner of the product, the CEO of the company making this product, a malicious employee or an outside attacker.
Don't Trust - Verify
The claim made by the manufacturer is that that (1) & (2) are not permanently recorded by the company, and thus the company can't steal your bitcoin. This is not a claim that you can verify. It is not possible for you, the user, to watch every step of every process for every device and inspect the code running on every machine and thoroughly check every room for hidden cameras. It is not possible for anyone to do this, because it would require complete constant pervasive surveillance. Even if the company is not intentionally planning to steal from those buying these products, they cannot guarantee that a malicious employee or an outside attacker has not compromised their process. The product is sold under the false pretense that securing your bitcoin is a technologically challenging process which requires technical expertise and identity checks. This is NOT TRUE.
There are many bitcoin wallets which can be checked against malicious injection of code designed to steal your bitcoin. Software releases are done in such a way that you can download a specific version of a tool and check that the hash of the file matches that which you have confirmed to be secure. Because many of the wallets listed are used by thousands of users & developers there are lot's of 'eyes on the code', that is to say that many people are watching the code changes to ensure that there is no funny business. It is true that some users blindly download bitcoin wallets, these users are exposed to the aforementioned risk of using a wallet which has an insecure private key. However it is possible for users to check a version of a piece of software, to combine their efforts and verify that a certain version of software is secure. To track the changes made to the software over time to give reassurances that the code is secure for their use. For this reason it is inaccurate to liken the risk of 'balet' being insecure with the risk of a software wallet being secure. The former can NEVER be provably secure, whilst the latter can. Furthermore, there are actual bitcoin hardware wallets which are designed to allow you, the user, to generate, secure and backup your bitcoin private keys in such a way that you don't need to trust the wallet manufacturer (my favorite is the ColdCard).
Archive of Text from Balet WEBSITE
Using an offline computer, serial number, wallet passphrase, and intermediate code are generated in Ballet’s USA headquarters
Serial number and intermediate code are then electronically transmitted to Ballet’s office in China.
Afterwards, the BIP38 process is used to randomly generate an encrypted private key (EPK) using the intermediate code data.
The corresponding public key and coin addresses will be generated, along with a confirmation code, to be used for verification and additional checking afterwards. This encrypted private key is secure data, which is only stored once, on a hard disk drive. In China, this two-layer QR code sticker is manufactured using an offline process in a secure printing facility The secure data is never transmitted to any external computers or system. The secure data is transferred physically, on a hard disk drive. Right after the printing process, the secure data is then deleted, overwritten, and physically destroyed. The secure two-layer QR code sticker will then be securely applied to the hardware wallets, without ever revealing the encrypted private keys. Once finished, the partially assembled wallets are sent to the United States for final production. The confirmation codes are also electronically sent back to the United States. This is for further verification to ensure that the encrypted private keys and decryption wallet passphrase does match up with the generated cryptocurrency coin addresses. The hardware wallets and QR code stickers are verified and double checked in the United States according to their corresponding serial numbers. The matching decryption wallet passphrase and serial number will then be laser etched onto the wallets. A strip of tamper evident scratch-off material is then applied on the wallet, to cover the wallet passphrase.
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