Bitcoin Forum

Anyone know much about this?I know to access the nfc chip you could lock it with a password but could you lock your bitcoin wallet within the nfc without using the nfc encryption?

You could just store the wallet on the NFC already encrypted. Then whatever device you use to read the encrypted data off the NFC, the software on the reading device could then prompt you for the password to decrypt the information and use the wallet.

tell me more do you have any videos?
I want to make sure that their is no possible way for the chip to fail on me.

Seems like there aren't a ton of security benefits to this, unless the NFC chip can sign transactions (offline), which it can't. The above process still results in your unencrypted private key residing, at least in memory, on an internet-connected device for some period of time. Unless the quantities of money involved are trivial, that situation is best avoided.

A chip/computer can always fail on you.

I'm not saying that there is any benefit to having only a rfrid/NFC injected into your hand at all. In the future when you can make small computers (injectable size) that can sign transactions offline and then communicate via NFC that may have some security benefits (essentially an injectable trezor that uses NFC instead of a USB cable).

That guy that injected them into his body doesn't plan on having them there for long if I remember correctly. He's just testing it for now.

This guy ?
http://arstechnica.com/business/2014/11/man-has-nfc-chips-injected-into-his-hands-to-store-cold-bitcoin-wallet/

I know their is another story just like the one you told me but this guy still has it.

I am with you,a computer can always fail,that is what I was worried of in the beginning.
Is it possible for the chip to bug and lose my bitcoin?Could I get locked out of the chip?
In the article above he mentioned using it for cold storage,how could he possibly use cold storage if the chip is always connected to the internet?Isnt it possible that the chip would not be connected to the internet it is just basically a memory card I thought.
I like my paper wallets they seem to do the trick but I guess I am getting lazy again and want less responsibility. I suppose my technique with hiding my paper wallet will do,unless my house burns down.