It's an interesting concept - but presumably this is just a brain wallet using the serial number as the memorable phrase?
Wouldn't it be safer just downloading brain wallet from github and generating the private key off line?
I think edd's intent is to make it as easy as possible for the receiver to retrieve the bitcoins.
That's partially the case. I haven't used brainwallet but, if I understand it correctly, since bills are printed with sequential serial numbers, someone could generate a large number of keys without having the bills in their possession and simply wait until they are funded by a legitimate user.
For now, I urge everyone to limit their use of this site to minimal amounts of BTC.
I believe it's to edd's best interest to not weigh in on any discussions related to the following due to the site's condoning clause:
http://www.stamp-connection.com/dept/wheres_george_stamps.html But it should be okay for members here to discuss said device. If such a product is developed, it'll probably be best to present it in a new thread. The implementation should be apparent.
Excellent site, edd. Good show!
It's probably safe to say that I anticipate some individuals marking messages on their paper USD to encourage others to find out more about Bitcoin and Cryptobill.com. I created Cryptobill.com so that bitcoiners could use paper bills
without writing on them, but it does make it much more unlikely that someone will receive one and unlock the BTC assigned to it. I won't encourage anyone to deface "legal tender" and I won't be selling stamps but I also have no inclination to discourage anyone from doing so. If the Secret Service decides to make life difficult for anyone writing on physical fiat, I'll reconsider how Cryptobill.com should be run but, until then, I think everyone should treat it as a modified bitcoin version of
Where's George?
