Topic: A sneak peak at the future of Bitcoin Cold Storage - page 8. (Read 13526 times)

Hmm, I'm not sure if I entirely understand, but in general- the idea that two seperate individuals might generate the same address, while possible, is so statistically low, you're more likely to win every lottery ever held in the course of human history. So, that's not really an issue.

There could be an issue if someone were to attempt to perhaps get ahold of any manufacturing documents, and then try to brute force every bitcoin address ever created using this as a way to increase the odds in the attackers favor.

Simply salting the encryption with your own person password solves this problem however.

That said, the possessor of all m-of-n devices has access to the bitcoins, so you still have to protect the device itself. But another one of the inspirations was that we already know how to pretty well defend things like gold, so you simply take the same precautions you would use for something of really high value (gold, diamonds, etc) and you should be okay.

Very cool! Looks pretty too! We should collaborate!

For those that have Android, GreenAddress.it Android Wallet app offers NFC login  (and soon NFC payment functionality).

The wallet is both multisignature and BIP0032 enabled.

You can save your mnemonic login on NFC during registration or from settings.

When the NFC card (or object ^__^)  is put close to the phone the App starts and autologins.

Is not perfect or uber fast but it does its job and we're working on improving it, as usual all feedback and suggestions are highly welcome.

What if someone accidentally generate the same address from a private key that is stored in your device ? Can u stop that guy ? If a seed is coming from linear congruential generator, it may be traced back. I understand chances are very very veryyyyyyyyyyy low... but

The superman crystal was actually an inspiration. I'm glad someone picked up on it already.

Here is another shot of the current prototype. Next iteration should be a bit smaller, more uniform in the color (This is as tricky process- it's coated with a really special process using plasma lightning in a super hot vacuum chamber, using a badass technology that was previously used to coat warheads or other such military uses by the soviets. Indeed the factory is in one of the post-communist states. The coating is ultra hard. Seriously crazy/cool.)



The idea is for it to be a one time use only- you put your bitcoin inside, and you store it away for that one day when bitcoin hits $1 million. The idea came originally from my attempt to laser engrave bitcoin private keys inside diamonds. It's a fantastic idea, but there's no way to get away from the fact that you have to trust the manufacturer. These devices you don't have to trust the manufacturer (me) at all to use it.

But I wanted to pick up on the same sort of value and, nearly, durability of diamonds. A problem with paper wallets is they aren't necessarily obviously valuable to everyone. Nor are QR codes on objects. So I thought to make a device that if someone like your descent were to find, they would naturally protect the device and recognize that it has value, even if they don't know what it really is. Hopefully should help to prevent accidentally lost bitcoins, and because the device is not cheap, it's like a piece of sculpture or art, it should also make anyone tempted to panic sell think twice before destroying the device to get the bitcoin inside. Yes, to obtain the bitcoin inside, it must be destroyed. :-)

Wow looks great kinds of reminds of the superman crystal, anyway would be nice to see bitcoin cold storage like that, let me know when u have it out.

Sounds nice cant wait to test it

Good to know; I look forward to seeing this develop.

There would be a way to disable the NFC- but I wouldn't do it with a switch. It's really enough to just block the radio waves. Although really, for the purposes it's designed for, it's probably not necessary. The device is not intended (at the moment) to be reprogrammable or tradable. It's meant for long term storage, and once the NFC is locked, it's locked. But it's a good idea.

As for pre-orders. No, we've seen enough of that. I'll probably sell them in batches until I work up enough capital to make them in bulk. I still have to work on the software as well. :-)

How soon do you think you'll have it available? I'd purchase as soon as you have it in stock (please don't do that whole pre-order thing!)

Interesting; would their be a way to disable NFC if one so chooses? (Small switch or something...)

Looks like a cool product to store BTC!   

So, I've been working on this for awhile and I'm in the later (hopefully final) prototype stage of a new type of Cold Storage and Bitcoin Vault device. Like a physical bitcoin, but more of a personal vault. It is beautiful, solid, secure, wireless (NFC), durable, multi-sig compatible, very nearly counterfeit proof (The CIA can probably counterfeit anything), clone proof (again, the CIA probably could) and if all the kinks in the manufacturing process can be ironed out, provide a truly random source of entropy for creating secure bitcoin transactions. (Hopefully it will also be a little bit smaller)

So here's hoping. A lot of work has going into this baby, and I'm still not there yet but it's a work in progress.



Small gif, hopefully will have a new round of prototypes in a couple weeks. The light is the sun glinting off it- i can only wish it could make that light itself!

EDIT: And you don't have to trust the manufacturer to use it!