Author

Topic: Counterfeit-proof Physical Bitcoins (Read 1887 times)

legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
February 16, 2014, 05:44:25 AM
#5
:O ! nice
I love to see that you are already into it.
Did you solve the counterfeiting? Because there was a problem. If you sell one then some other guy can make copies with the same information. If they are high price coins it is bound to happen.
My method to fix it, is to make an electronic wallet inside of the coin and a couple of LEDs, one to let you know if it is connected to the network, a button to run the algorithm , a LED to show error and another for success.
The algorithm is: have 2 wallets inside that coin and make they send signed messages in between each other (just an incremental number). You can then see one of the wallets and press the button, if there is a change then it is the real deal.

The system is not impossible, but it is quite hard to make in small scale.

Actually yes, I did solve the counterfeiting problem- to some extent as anything that can be 'made' can be 'counterfeited', that said though there are a couple unique factors involved: NFC chips have unique unchangeable ID's, so for one you can simply query the chip to see if its the real one. Secondly, future NFC chips will include special security tokens that will prevent them being cloned, as well as access counters that can tell you how many times the chip has been accessed. That makes the chips themselves pretty secure.

sr. member
Activity: 434
Merit: 250
February 09, 2014, 10:52:52 AM
#4
:O ! nice
I love to see that you are already into it.
Did you solve the counterfeiting? Because there was a problem. If you sell one then some other guy can make copies with the same information. If they are high price coins it is bound to happen.
My method to fix it, is to make an electronic wallet inside of the coin and a couple of LEDs, one to let you know if it is connected to the network, a button to run the algorithm , a LED to show error and another for success.
The algorithm is: have 2 wallets inside that coin and make they send signed messages in between each other (just an incremental number). You can then see one of the wallets and press the button, if there is a change then it is the real deal.

The system is not impossible, but it is quite hard to make in small scale.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
February 09, 2014, 10:41:06 AM
#3
Another note is that while the Namecoin network is a good idea for the PUF concept- it's also possible to just embed the required data into the bitcoin blockchain as well. Or use mastercoin for example, to establish some sort of database of ownership on top.
legendary
Activity: 1204
Merit: 1002
RUM AND CARROTS: A PIRATE LIFE FOR ME
February 09, 2014, 04:04:10 AM
#2
Already building prototypes, and applied for a patent. That said though, after trying to contact the bitcoin foundation several times for help with how to do fair licensing for patents in the community, I didn't get any answers from them (they never wrote back) and I'm thinking about trying to contact the other NFC bitcoin enthusiasts here to see if we can set up some sort of organisation to pool resources or standardise our work.

member
Activity: 118
Merit: 10
February 09, 2014, 02:20:50 AM
#1
I haven't seen this discussed here yet: http://www.indolering.com/puf-bitcoin

Seems like an idea worthy of further discussion / implementation.
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