[ANN] OPENDIME v3 – Now *Genuine Verified* Bitcoin Credit Stick (in stock!)

[nvK]

I do not understand the logic of making a customer start to place an order before price can be seen

Opendime is not a direct competitor to Ledger, is meat for a completely different use. In this model, no user knows the private key! So it's less of a wallet and more of a bearer bond.

With Postal Mail shipping to US total cost is...

Our bitcoin shopping cart is almost ready, we've been taking orders via orders@opendime.com for Bitcoin. We've sold a lot in bulk to resellers too, which will likely sell in brick and mortar "retail near you" with no shipping cost. We are looking for a better carrier deal, but this product is not paper thin like ledger so it is not as cheap to ship.


@BitcoinNewsMagazine I would strongly suggest you take a close look at our FAQ and other material on https://opendime.com, a lot to be learned there.

Sorry no interest here in OpenDime. I do have some experience marketing and selling on the web, just pointing out that your potential customers want to see the price up front and pay with bitcoin. You probably have lost customers by not making the web site clearer and incorporating bitcoin payments from the start. Good luck with your project.

We have sold-out the first batch in the first few weeks and have sold the second batch (much bigger) extremely well.

I don't disagree, we have the bitcoin cart on the way

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[nvK]

UPDATES!

• 1. You can now buy Opendimes with BTCBitcoin right on the shopping cart! https://opendime.com/cart
• 2. one click Opendime balances check from the opendime/index.htm file

[nvK]

Pull Request to add it to Bitcoin.org open!

https://github.com/bitcoin-dot-org/bitcoin.org/pull/1319

[nvK]

Production Updates
2nd batch of @OPENDIME on the way from the factory! ✈️ Get yours opendime.com

https://twitter.com/opendime/status/753243404679516160

[OROBTC]

...

That is very good news, nvK.

A low cost and easy to use hardware wallet is likely to do well.  I hope that we get some reviews.  If your product works well, you may want to start planning your third and fourth production runs.

When do you expect to be able to ship this new batch?

[nvK]

2nd Batch completely shipped,

and now we have Opendime IN STOCK!

Order here https://opendime.com/cart

[OROBTC]

...

Hi NvK

I just ordered some OpenDime wallets.  I look forward to experimenting with them. 

*   *   *

At your website, you write that "properly stored" the OpneDime should be OK for decades.  But, not meant for long-term storage.

I would LIKE to store some of my BTC for a long time!  I would appreciate your comments, it's OK to write them here for the BTC Community here at bitcointalk.

*   *   *

It is still not crystal clear to me how it works (from the user standpoint), I have watched the video.  I'll ask more specific questions later if I still have them.  It may be easy to figure out once I have them in hand.

Please PM me with a phone number "just in case".  I do have a "secret word" should I ever have to call.

[nvK]

Because you can't make a backup of the key, it's not advisable to use it that way.

[nvK]

A nice review by Beatyon; Exquisite OpenDime https://medium.com/@beautyon_/exquisite-opendime-ad1195a2790e

When we first read about OpenDime, the hardware Bitcoin Wallet, we were exited by what they appeared to have built; a USB Bitcoin device, that is simple to use, tiny, tamper evident and which is free of intimidating bells and whistles. We had to buy some to test, and it lives up to our expectations...

read whole post

[nvK]

Neat fan made video by the Friends of Satoshi

https://www.youtube.com/watch?v=9UFF9d3Y1BY

[OROBTC]

...

I received my Opendimes today, and had time to try one out.

Ordered July 27, paid by Bitcoin.  Arrived today (Aug 8th).

Device measures about 4.5 cm by 1.0 cm.  Small!  The Opendime fit right into my USB on my laptop.

Several files and a couple of folders are visible upon clicking open the device.  The README file is the important one at this stage.

I had to input text and spreadsheet files to reach the 256 kb for the device to generate the public/private key pair.  Pictures of 2 MB not accepted!  After doing that, you can open a small file to see the wallet address and another to view a QR-code.

*   *   *

Taking the funds out was more difficult for me.  I was hoping that either my Trezor or my Ledger Nano would have a procedure to import private keys, but in BOTH cases I could not do it (or could not find out how).  So I had to use my blockchain.info wallet (which does have a way to import keys).  It was a little hard for me to navigate my way around the *new* blockchain.info wallet, but the instructions are in there.  Once I imported the public key (wallet address "on" the Opendime), I then asked for a transfer of BTC to my regular blockchain address.  blockchain then asked for the private key (Opendime), which I pasted in.

Bingo, transfer made.

Device works.  I bought six of them for $94.80 in BTC, works out to US$15.80 each (total, including shipment).

*   *   *

My only suggestion to Opendime would be to write their instructions more clearly for relative beginners (like me).

You probably will need another wallet on other devices (on your PC, other hardware, or an online wallet) that accepts importing public & private keys.

[deisik]

My only suggestion to Opendime would be to write their instructions more clearly for relative beginners (like me).

You probably will need another wallet on other devices (on your PC, other hardware, or an online wallet) that accepts importing public & private keys

So it is expected that you would pay with these devices in the absence of Internet access (offline mode of operation), right? But how the other party can check if bitcoins are still there, they haven't been spent, and you are not going to spend them later after you give away the devices (read you still have the keys)?

Keep in mind that everything happens in offline mode (i.e. without Internet access)

[OROBTC]

...

Hiya deisik,

You are asking questions that are perhaps best asked of nvK or someone else there at Opendime.  I am not a programmer or computer pro, I had to learn as an autodidact (I got very little help, and NONE of my friends are into this) to just get this far w/ BTC...

Nonetheless, this is how I will probably use them:

-- Put in a "round amount" (say, BTC1.000) into one or more of them.  Now I have an Opendime with +/- $585 in it.
-- When the occasion arrives, I will "pay" or give BTC away by just giving the Opendime itself to the lucky recipient.
-- You can get the Public Key (wallet address) by putting the Opendime into any normal USB slot, and reading the little file.
-- Then you can check the balance of that address (so, yeah, you would need Internet access to do that).
-- The PRIVATE KEY is unknown to anyone (as it is generated when you paste stuff in to initialize it), so cannot be spent until:
-- Whoever the owner is who wants to SPEND the BTC then breaks off that central stick-shaped piece (w/ the small gold "lock" logo).
-- Then you can go read the Private Key in a small file, then you can import that Public & Private Key to a wallet that can IMPORT them.
-- As Opendime says at their website, you DO need a wallet that can "sweep" or will import the keys (blockchain's will work).
-- And once you take out the BTC (preferably very soon after breaking the stick-shaped piece), then you chuck the unit (no longer secure).

So, it's really more of a "wealth preservation" device, you can get the BTC out, but not by spending them in the normal manner.  The idea is to load some BTC, then give the DEVICE away as payment (or partial payment).  In that sense, no BTC is transferred on the blockchain, you are giving away the device, but you (no one) knows the Private Key until that stick-piece is broken off (there is a video showing that at their website).

You could give one or more of them away to loved ones very quietly for example (assuming you mixed the BTC before sending them to the Opendime).  With imagination, you could come up with all kinds of interesting uses or situations where Opendime is just what you would want....

My explanation might not be very good.  Ask nvK, or order a three-pack and see for yourself.

[deisik]

...

Hiya deisik,

You are asking questions that are perhaps best asked of nvK or someone else there at Opendime.  I am not a programmer or computer pro, I had to learn as an autodidact (I got very little help, and NONE of my friends are into this) to just get this far w/ BTC...

Nonetheless, this is how I will probably use them:

-- Put in a "round amount" (say, BTC1.000) into one or more of them.  Now I have an Opendime with +/- $585 in it.
-- When the occasion arrives, I will "pay" or give BTC away by just giving the Opendime itself to the lucky recipient.
-- You can get the Public Key (wallet address) by putting the Opendime into any normal USB slot, and reading the little file.
-- Then you can check the balance of that address (so, yeah, you would need Internet access to do that).
-- The PRIVATE KEY is unknown to anyone (as it is generated when you paste stuff in to initialize it), so cannot be spent until:
-- Whoever the owner is who wants to SPEND the BTC then breaks off that central stick-shaped piece (w/ the small gold "lock" logo).
-- Then you can go read the Private Key in a small file, then you can import that Public & Private Key to a wallet that can IMPORT them.
-- As Opendime says at their website, you DO need a wallet that can "sweep" or will import the keys (blockchain's will work).
-- And once you take out the BTC (preferably very soon after breaking the stick-shaped piece), then you chuck the unit (no longer secure).

So, it's really more of a "wealth preservation" device, you can get the BTC out, but not by spending them in the normal manner.  The idea is to load some BTC, then give the DEVICE away as payment (or partial payment).  In that sense, no BTC is transferred on the blockchain, you are giving away the device, but you (no one) knows the Private Key until that stick-piece is broken off (there is a video showing that at their website).

You could give one or more of them away to loved ones very quietly for example (assuming you mixed the BTC before sending them to the Opendime).  With imagination, you could come up with all kinds of interesting uses or situations where Opendime is just what you would want....

My explanation might not be very good.  Ask nvK, or order a three-pack and see for yourself.

Okay, thanks for explanation. In general I got how it works, it is like those gold physical Bitcoins with the difference being that you can "preload" them with an arbitrary amount of bitcoins. In any case, they are not suitable for a trade in an offline mode when the parties don't trust each other, can't check if the funds are really there as well as check if that address really belongs to the wallet on the device (i.e. it actually has the private key of that address inside). In this way, it still requires the blockchain and access to a computer. But then you could just transfer the money from one online wallet to another without using such a device (which you can lose or break with the coins lost forever)...

The use case is probably to give bitcoins to someone who doesn't yet have an online wallet

[nvK]

The use case is probably to give bitcoins to someone who doesn't yet have an online wallet

It's one of those things that is hard to pigeonhole. People use differently, but a good example is that it can be passed along multiple times. So you'd get n transactions offchain. 

Get a package and play around, because it's a whole new thing. It's much more interesting to play and figure out what you can do with it than try to explain

[deisik]

The use case is probably to give bitcoins to someone who doesn't yet have an online wallet

It's one of those things that is hard to pigeonhole. People use differently, but a good example is that it can be passed along multiple times. So you'd get n transactions offchain

I got it. But how can we check that the private key on this gadget really belongs to the address the balance of which we can check on the blockchain without revealing it? In other words, is it possible to "authenticate" the wallet on the device without "compromising" it? If it is not possible to do without showing the private key, you can't accept it from someone without risking a double-spend or give it to someone else unless you give it "blindly", i.e. without knowing the private key and whether the wallet is authentic. Thereby, you can pass this wallet only once offchain, then you will have to use the blockchain again (at first to check and then to reset the stick)...

But the idea still seems to be viable (for small sums, at least) since it allows to transfer funds without confirmations (even if only once per "cycle")

[nvK]

I got it. But how can we check that the private key on this gadget really belongs to the address the balance of which we can check on the blockchain without revealing it? In other words, is it possible to "authenticate" the wallet on the device without "compromising" it? If it is not possible to do without showing the private key, you can't accept it from someone without risking a double-spend or give it to someone else unless you give it "blindly", i.e. without knowing the private key and whether the wallet is authentic. Thereby, you can pass this wallet only once offchain, then you will have to use the blockchain again (at first to check and then to reset the stick)...

There is a whole FAQ on authenticity and validation here https://opendime.com/#faq . It also ships with a few open source validation python scripts for advance users. But better yet, the Electrum plugin will be merged soon and you will be able to do "paranoid" check right from Electrum!

[deisik]

I got it. But how can we check that the private key on this gadget really belongs to the address the balance of which we can check on the blockchain without revealing it? In other words, is it possible to "authenticate" the wallet on the device without "compromising" it? If it is not possible to do without showing the private key, you can't accept it from someone without risking a double-spend or give it to someone else unless you give it "blindly", i.e. without knowing the private key and whether the wallet is authentic. Thereby, you can pass this wallet only once offchain, then you will have to use the blockchain again (at first to check and then to reset the stick)...

There is a whole FAQ on authenticity and validation here https://opendime.com/#faq . It also ships with a few open source validation python scripts for advance users. But better yet, the Electrum plugin will be merged soon and you will be able to do "paranoid" check right from Electrum!

I read the FAQ on your page, and this part clearly states that Opendime units are expected to be used only once:

We expect most Opendime units to be loaded once, probably with a "round number" of bitcoins, and unloaded exactly once in their lifetime. It's impossible to know what's happened in the meantime—just like a gold coin that has passed through many hands over the years

That means that you can't make n-transactions offchain as you at first stated. What did I miss?

[nvK]

I got it. But how can we check that the private key on this gadget really belongs to the address the balance of which we can check on the blockchain without revealing it? In other words, is it possible to "authenticate" the wallet on the device without "compromising" it? If it is not possible to do without showing the private key, you can't accept it from someone without risking a double-spend or give it to someone else unless you give it "blindly", i.e. without knowing the private key and whether the wallet is authentic. Thereby, you can pass this wallet only once offchain, then you will have to use the blockchain again (at first to check and then to reset the stick)...

There is a whole FAQ on authenticity and validation here https://opendime.com/#faq . It also ships with a few open source validation python scripts for advance users. But better yet, the Electrum plugin will be merged soon and you will be able to do "paranoid" check right from Electrum!

I read the FAQ on your page, and this part clearly states that Opendime units are expected to be used only once:

We expect most Opendime units to be loaded once, probably with a "round number" of bitcoins, and unloaded exactly once in their lifetime. It's impossible to know what's happened in the meantime—just like a gold coin that has passed through many hands over the years

That means that you can't make n-transactions offchain as you at first stated. What did I miss?

You can deposit more and pass it along multiple times like a bearer bond if sealed. They can only be unsealed once.

Offchain means that the bitcoins are still in it, unspent in the blockchain.

[deisik]

I got it. But how can we check that the private key on this gadget really belongs to the address the balance of which we can check on the blockchain without revealing it? In other words, is it possible to "authenticate" the wallet on the device without "compromising" it? If it is not possible to do without showing the private key, you can't accept it from someone without risking a double-spend or give it to someone else unless you give it "blindly", i.e. without knowing the private key and whether the wallet is authentic. Thereby, you can pass this wallet only once offchain, then you will have to use the blockchain again (at first to check and then to reset the stick)...

There is a whole FAQ on authenticity and validation here https://opendime.com/#faq . It also ships with a few open source validation python scripts for advance users. But better yet, the Electrum plugin will be merged soon and you will be able to do "paranoid" check right from Electrum!

I read the FAQ on your page, and this part clearly states that Opendime units are expected to be used only once:

We expect most Opendime units to be loaded once, probably with a "round number" of bitcoins, and unloaded exactly once in their lifetime. It's impossible to know what's happened in the meantime—just like a gold coin that has passed through many hands over the years

That means that you can't make n-transactions offchain as you at first stated. What did I miss?

You can deposit more and pass it along multiple times like a bearer bond if sealed. They can only be unsealed once.

I got that, but this is precisely the point I'm trying to clarify. Say, you are given a stick which allegedly has some bitcoins on it (you are told so). Okay, you know the address, and you can check on the blockchain how many bitcoins belong to this address, but you don't know the private key (until you unseal the device), thereby you don't know if the stick does actually contain the wallet with that address (and its private key)...

In this way you are required to break the seal to make sure it is authentic (i.e. get the private key), but after that the device is no longer usable