Bitcoin Forum

Hi there. New to this forum, but ain't a newbie in crypto world.
I'm trying to popularize the idea of investment in cryptocurrency among small households.

And immediately after newcomer buy his first digital coin you need to decide- where to store it?
We propose to store it on a cold wallet that can be made by me in a form of steel card:
https://i.imgur.com/SXgEUb0.jpg

If you like the  idea - please check the description of our project on Kickstarter.com:
https://www.kickstarter.com/projects/437309334/coin-armor-steel-cryptocurrency-wallet (https://www.kickstarter.com/projects/437309334/coin-armor-steel-cryptocurrency-wallet)

and support us  ;D

Interesting idea, I like it!

What happens if the kickstarter doesn't fully fund? Would you still produce them for buyers here on the forums?

Cool idea, and great use of BIP38 to get around the issue of you also having the private key...  I'm in for 3!  ;)  Will you print different icons on them depending on the token choice?  Like if I want a ZEC one, I'm assuming you'll print the Zcash logo on it?  Also, how are you etching them?  I also have a CO2 laser cutter, so I'm assuming you're treating them first with a coating, then that's actually making the marking (similar to dealing with anodized aluminum)... Do you have any issues with it scratching off?

How safe is the wallet if or when released? Obviously, using this wallet would mean trusting the wallet's developer or creator. And, most importantly, being convinced that such wallets are at no risk of being accessed via a backdoor system.

I love the idea of engraving both the public and private keys on the card, protected by a passphrase-protected Bitcoin private key. Is it really secure? I mean is there any way to reverse engineer the encoding in any way? Sorry for asking. Just paranoid about these things. I always believe that a private key, encrypted or not and in whichever format it is generated, is only secure if it is known to and controlled by the wallet's owner and nobody else.

If it is really secure and impenetrable, I would love to have one of these cards and will be happy to support the Kickstarter. I do want to see the earlier question answered: what if the project fails to achieve full funding? Would you still move forward with it?

Hi Markaz. Sure logo depends on currency. I have a fiber laser, not CO2. Engraving is very deep ( about 0.2 mm) so I don't need coating and don't have a problems with scratching.

It is as safe as BIP38 encoding. I will not know your passphrase and will not know how to encode your password and gain access to your coins. And BIP38 for now is among most advanced and safe algorithms.
If KS funding will fail I will not produce those cards. Guys, frankly speaking that project is not about profit. It's about advertisment of cryptoworld to new people and helping to solve problems with security for long term storage.
So I still hope you'll support me ;)

As the poster said, BIP38 is the key to this - when I first say it I thought the same thing, just another version of one of those coins people used to make back in the day that had their private key printed on them... And when I saw the private key printed on the BACK of the card, I was like "Good lord this is the mother of bad ideas!"  But then I read further and saw the BIP38 part, and realized how they were doing things, and really it's as secure as whatever pass phrase you use to encrypt the private key - so a great solution.

And very cool about the fiber laser, I wish I had the coin to get one of those bad boys, but it's hard to justify when I just play around with mine for fun.  I'll have to wait for the wazer before I can start destroying metal like you. ;)

Yep. People are shouting Scam! Scam! all time on forums. Need to explain about pass-phrase protection over and over again ;)

In for 3 Titanium! I'd really like to see this make it into production.

Thanks Olaf! Really appreciate that.

Interesting concept honestly, but my question comes down to the passphrase. How would they know How would the private key be encoded with a second passphrase and only they (the customer) would know it?

Hi. We recommend to use this service https://walletgenerator.net (https://walletgenerator.net) to generate Crypto address and pass-phrase protected private key. Please try to generate paper wallet and hit checkbox "BIP38 Encrypt?". After that you need to enter passphrase that will be needed to encode your key. And nobody except you will know that passphrase.

This thread gives a good idea of how strong BIP38 encryption is: I'm BIP38 curious, please help me out! (https://bitcointalk.org/index.php?topic=1014202).
In short: password zLwMiR was not cracked in 2 years for a 1 BTC (more than $1000 at the time) prize. It would cost more in computing power than it's worth.

I can think of one scenario to crack it though: suppose a hacker has access to a botnet of a million computers, that would give him enough computing power to crack this password without high cost.
This can of course easily be prevented by using a longer password.

That being said, I'd still have a very hard time trusting anyone with my BIP38 encrypted private key. It feels scary, even though the math says it's okay.

this looks really cool  ;D
is it possible not to print the private key on the back and just print the bitcoin logo instead?
also how much is the shipping to the UK?

Great idea best of luck with the campaign looks like you will hit your target soon

The wallet does seem good and is nothing new tbh
I have had such wallets before but never in steel

How safe are these to everyday friction in our wallet and card cases? How long till the BIP38 privkey printed on it starts to fade a little? Well, that can be dealt with

I would be interested in 2 of these but i want some addition to my card, something that would even hide my BIP38 privkey, why risk it by showing and give others a chance to bruteforce?

Do you have any innovative idea to hide the BIP38 privkey as well? i would love to see something innovative

They are laser engraved. Friction and day to day use wouldnt make a dent in it. If the steele is good quality this would last a very long time. Besides how often are you gonna take it out to use the QR code there are very few places that accept Bitcoin face to face

I got excited this morning when I looked and saw the project 100% funded, I can't wait to get these! I pledged for 3 titanium, now I have to decide which wallets they will be :D

Well, given i will opt for a good vanitygen address, and how i am planning to use this to show and help people understand cryptocurrency. It would be more of a sample type of thing to show some security aspects so will be used alot but i understand the laser engraving
Still waiting for OP to tell about hiding BIP38 key

Agree, tremendous trust has to be placed on the cardmaker with regards to the BIPP32 Private key , how its generated and last but not least how it is handled and by whom.

 How is this being worked on? Will the private keys be destroyed and no traces left when sold?

Guys, why you neeed to hide BIP38 key? Or even trust me to destroy those keys?
You'll give me ONLY encrypted key and only you will know pass-phrase.
I propose to all backer on Kickstarter to use this site: https://walletgenerator.net (https://walletgenerator.net) and generate there BIP38 protected keys. And for sure don't tell me that pass phrase.

The only thing you need to trust me is that I'll make engravings on metal cards ;) But that will be a really bad idea to bury a successful kickstarter account for extra several hundreds dollars.

I do understand that there is no need to hide or destroy the privkey but when it comes to my BIP38 keys i only keep the passphrase for them at one place - my mind. I don't want to forget it, lets say in 5 years- so i keep them short at 10-20 characters.
I just think, having a cover for the privkey would be extra security

Why wouldn't I just take some sort of stamp and stamp a piece of metal with my private key? Wouldn't this achieve the same results? Also, isn't this just another version of a steel wallet, which has already been done before? What's the difference with yours?

My proposition is more convinient,cheaper and better made ;) That's all.

Interesting Idea.  I just pledged for a set of 3 Titanium Coin Armors.
If it works out I will be buying more for the kids and clients.

Thank You and Good Luck with your new adventure.

  /s TuffToad

Thanks for support!

Interesting, I never knew there was a private key for bitcoins that can be passphrase encrypted. Well if this is the case then this might be a safe way to create something like this since the private key will not only be the one needed to open the wallet. Though I guess a lot of people will still be skeptical to give out the private key though, but I do think this could be an alternative to Cryptosteel which was also a kickstarter project.

People don't need to beleive me. Just read this article https://bitcoinpaperwallet.com/bip38-password-encrypted-wallets/

I kicked in. Tried to double kick to get 6 and not an option ! LOL

 Hint Hint Anna, I want at least 9 titanium. :)

Scrap'

Scrappy, first of all - thanks.
You can pledge 3*40=120$ for 9 titanium coin armors and leave me a private message on Kickstarter. and I'll make a note to myself.

Hi... just want to ask how the keys are put on the steel wallet. Is it printed on the surface of the metal card? Or is it actually etched out on the metal, making it permanent even if the black print fades, similar to an embossed credit card. Even if a credit card's color fades, the numbers are embossed and permanently raised.

The nice thing about your wallet is that, being metal, it is fire and waterproof and will survive termites and other pests which might find paper wallets delicious. Imagine finding half of your private key with, say, 100 BTC chewed off!

No printing! I engrave information with laser. I burn metal deeply (~0.1 mm - beleive me, it is deep) to form everything you see on the sruface. No chance to erase information on Coin Armor except you'll try to grind it ;)

Fully funded, I'm anxious to see this all in production!

When can we expect to see progress?

Also, since Ethereum doesn't support BIP38, how would we be able to send you private key information without revealing the key?