All You Need To know About The World's First Functional Bitcoin Watch.

pixie85

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Quote from: DdmrDdmr on March 06, 2023, 11:27:00 AM

In the faqs they do state that:

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The Franck Muller Encrypto comes with a QR code on the dial connected to a sealed USB However due to liability reasons it is intended as a commemorative, limited edition novelty item, and not for storing Bitcoins.

Not sure how many people that actually purchase the watch get to read the above, and understand the risks of using the default solution (though engraving your own public key doesn’t seem like a brilliant idea either from a privacy point of view).

It could be a fun gadget to use along with a phone wallet. You show it at a party and someone sends you a tip to check out how it works and you get instant access via your phone wallet and spend the coins that night. I doubt someone will sit and wait for the watch to receive a few dollars so they can steal it.

Another way would be to engrave a qr code with your hardware wallet address so people can deposit directly to your safe wallet and that would make it into a display piece for your savings.

I don't know how many people would send me money if I had it, but the watch is pretty and will probably gain value over time.

decodx

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🇺🇦 Glory to Ukraine!

I can't speak for others, but personally, I consider it to be a waste of money, unless you're a dedicated collector of such items. Basically, it's just a fancy designer watch, with no additional value beyond that.

mk4

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Paldo.io 🤖

No one in the right mind should be using such a device. Sure, buy it as an investment or as a statement piece — but for its Bitcoin-related features? Hell nah.

dkbit98

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Quote from: Cryptomultiplier on March 06, 2023, 06:44:19 AM

Is this Bitcoin watch a great innovation for everyone or just for a selected few, or is it just a waste of money for anyone who intends to buy it?

For me this is not innovation at all, but rich people often throw money away on things like this... so why not.
Bitcoin watch would be cool to have as collectible item but I certainly wouldn't wear this Vanguard Bitcoin wallet with QR code public address and private key on USB stick.
I especially wouldn't waste do much money (from 13,000 to 82,000 CHF/EUR) for any watch in the world, but I understand this was designed to be luxury Bitcoin item.

Cryptomultiplier

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Perhaps such an accessory could come off as handy in an extreme trade situation, where cash is not within reach and the person to trade with is present and unsuspecting of how the transaction would be completed.
I don't think anyone would want to store coins there, instead, the amount to be spent could be stored temporarily there where no one would easily suspect its worth, unless I blab about it.

Nwada001

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This generated encryption and the wallet it's self are provided; does that not mean the company will also have see and control over the funds allocated to that wallet from their own database?If yes, then it's really a bad idea for someone to use his hand to fall into a centralized trap, and thefts become targets because wearing the watch around is just like parading in a public space with your hand full of cash, creating attention and awareness. To me, it's really not cool at all, and it's never an option to be considered.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

The watch model, or at least the initial version, seems to have been released in the summer of 2019 as per their news entry.

They’ve now got a variety of designs ranging currently from 14K $ through to 88K $, with an even more select range whose price is disclosed upon demand: https://franckmullerencrypto.com/mens-collection/

According to their FAQs, the sealed usb isn’t embedded within the watch itself (in case anyone was envisioning that), but quite literally it’s a physical usb key which contains the private key … unless you provide them a public key of your choice which you control (therefore avoiding the likelihood of someone accessing your private key at some point in the chain from production to delivery).

In the faqs they do state that:

Quote

The Franck Muller Encrypto comes with a QR code on the dial connected to a sealed USB However due to liability reasons it is intended as a commemorative, limited edition novelty item, and not for storing Bitcoins.

Not sure how many people that actually purchase the watch get to read the above, and understand the risks of using the default solution (though engraving your own public key doesn’t seem like a brilliant idea either from a privacy point of view).

Macadonian

sr. member

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This is a terrible idea do not allow any company to generate your private key and give it to you. If you can use a wrist watch for a watch only address then that would be cool but storing the private key on a usb they send you is a terrible idea and this will lead to people losing their money I guarantee.

Cryptomultiplier

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Do you or your friends still have doubts about the existence and longevity of cryptocurrency mostly about the giant Bitcoin, then do think again, because the future of tech and commerce is one that might just involve a scanning QR codes to fulfil and complete transactions.
I saw the watch on super car Blondie's show and I must confess that Franck Muller definitely saw the future this time.

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Vanguard Encrypto by Franck muller;
The Vanguard Encrypto also called “the world’s first functional Bitcoin watch” is our newly launched limited edition. The dial includes a laser-etched QR code for a public wallet address that can be used to deposit Bitcoins and check the balance of the account. To allow this secure process, a sealed USB stick is included with the watch to store the private key.

Visit reference link at:
https://www.franckmuller.com/vanguard-encrypto-#:~:text=The%20Vanguard%20Encrypto%20also%20called,the%20balance%20of%20the%20account.

Quote

The “world’s first functional bitcoin watch,” appropriately named “Free the money. Free the World,” not only offers a stylish addition to your wardrobe, it also allows you to check your bitcoin balance wherever you are. The watch works as a “deep cold storage” device. Translated from bitcoin jargon, a “cold” device is one that works offline. The watch stores the digital currency in a sealed USB with a private key. It also has its own public address, which is etched into the 41mm dial. Adding bitcoins to your wallet, or checking the balance, can happen with just a flick of the wrist.

If you need to know what time it is in addition to your bitcoin balance, the watch still serves as a timekeeper. And it’s a good-looking watch to boot. The case is titanium and features a black DLC coating. Teal accents are matched in the black leather strap. The sapphire crystal case covers the dial, which features the bitcoin logo. Franck Muller outfitted the watch with a Swiss automatic Calibre FM 0800 movement, which offers 42 hours of power reserve.

With bitcoin value hitting AUD$80,000 earlier this year, having a place to safely store the digital currency is a wise move, so why not literally keep the coins on your person at all times? The Vanguard Encrypto “Free the Money. Free the World” bitcoin watch wallet will be limited to just 500 examples, and is priced at USD$12,000. Of course, to purchase one you’ll have to use the cryptocurrency.

Visit reference link at:
https://manofmany.com/fashion/watches/franck-muller-vangaurd-encrypto-bitcoin-watch

1. Are there any other innovations and inventions you know that support Bitcoin campaign and its evolution?
2. Is this Bitcoin watch a great innovation for everyone or just for a selected few, or is it just a waste of money for anyone who intends to buy it?

Topic: All You Need To know About The World's First Functional Bitcoin Watch. (Read 114 times)