We don't have a clear picture on pricing yet for similar reasons, but we would like to be competitive with existing solutions such as low end hardware wallets like ledger hw1, the btcc bitcoin tokens and open dime.
Brass is a good idea. We are not wedded to using precious metals to manufacture Satoshium. Lower denominations might even use casino-chip like plastic.
Sounds good.
We plan on using a Java-card compatible cryptoprocessor with a secure element.
See top of page 6 of the white paper for details.
The most important job of the cryptoprocessor is to control access to bitcoin secrets, such that they
may never be revealed when the satoshium has minted status.
I get that, but how will the Java processor interact with the NFC tag/chip?
The secret must be UNKNOWABLE even to the minter, otherwise the coin can never be "Minted" i.e. transferable to other people since the creator of the secret can never be trusted not to steal the bitcoin later :-)
Lack of unknowability of the secret is what has prevented most prior attempts at physical Bitcoin from circulation (or at least occasional transferability and re-sellability)
Note, we do provide for a "Secret Extraction" but doing so irreversibly invalidates the "Minted" status and at that point the coin can only be redeemed but not transferred (until it's erased and and re-minted with a different inscription and proof of fundedness again, i.e. satoshium is re-usable !)
Never seen this before. Sounds good.
What's the current status of your project?
Interesting... I would wonder how you and your partner will be able to pull this off, but I will be watching
I agree. If you need any help, send me a PM.
Good luck.
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