Opendime: Bitcoin USB Stick

Description

Opendime is a little USB stick that lets you spend or give someone bitcoin like cash. Made by Coinkite, the stick is only 40×12 mm and has a hole to attach on a keychain or carry around your neck. It has round edges that make it comfortable to carry in your pocket. To check balance, connect to any USB port and to spend the funds, just unseal it. The stick is available in multi-language user interface, including English, Dutch, Portuguese, French, Chinese, and Polish.

The 1st Bitcoin Bearer Instrument or just call it a “Bitcoin Stick”

How Opendime works

Inside the stick are text files containing the payment address and, if unsealed, the private key in WIF format. There’s a QR image that may be readily scanned. You may also use a USB phone charger or USB power pack to see whether it’s unsealed by putting put it into any USB port and the green lights will flash in a sequence indicating it’s unsealed.

Opendime does not replace your bitcoin wallet. To transfer bitcoin in and out of the Opendime, you would still need a bitcoin wallet. Opendime is compatible with any wallet that can withdraw funds from the blockchain using a WIF-format private key import.

To withdraw funds, insert a pin through the hole specified on the back (see the video below from 1:32). When the piece is broken, the file contents change and the private key is revealed in the private-key.txt file and QR code picture. Once opened, you must transfer the funds to another wallet.

To fund Opendime, connect your new Opendime to your computer and navigate to the Opendime folder. You will see the readme.txt file with detailed instructions for using the device and index.htm that provides a short setup guide. The video below will also give you a basic idea on how to use it.

It’s like a piggy-bank. You must destroy it to spend the funds. At first that seems expensive and wasteful, but it’s a key part of our security model: you can trust a sealed Opendime, and it’s obvious when it’s been opened.

Opendime features

• USB Flash Drive. It works as a USB flash disk that can only be read. It can be used on any computer or phone. A bitcoin address and other helpful information can be found in the text files and QR picture that are included.
• No trust needed. Anyone can get an Opendime and not have to worry about the money being taken back at a later time. Only the stick itself contains the private key.
• It’s free to use and instant. There are no miner fees or confirmation delays.
• Secure. The private key is generated within the device, and is never known to anyone, including you.
• Open standards. It used bitcoin message signing, non-HD bitcoin payment addresses, and private keys in WIF format.

Opendime use cases

• Gift someone bitcoin. Make an Opendime and mail it to them.
• Deliver car payment. When you go to pick up a car, take the stick loaded with money with you.
• Carry bitcoin in your pocket. Load a number of Opendimes with different bitcoin denominations. Keep them in your pocket to pay for small purchases throughout the day.
• Sell bitcoin sticks. Sell pre-loaded Opendimes in return for gold or other precious metals.

We built Opendime to be much more than a another hardware wallet or a physical bitcoin. We feel that we’ve created whole new product category: disposable hardware wallets to be used as cash. We’re really excited to see what people will do with this. Maybe we’ll see whole new economies based on Opendime spring up! That might be a real godsend in some countries that struggle with limited network infrastructure and corrupt governmental systems.