The future Wallet

[K3surfacer]

Hello everybody,

I have been thinking about the concept of wallet for coins (BTC or alt-coins). I understand that the current system works somewhat well. But what about the future. Imagine you have a wallet or wallets (these days, we need quite a few wallets). It may happen that

1. You loose it (pass, keys, files, ...), like when you have everything in your machine and one day it is gone, destroyed, ...
2. You die or disappear. Your children, loved one, the little good project you started to help somewhere will not get your dead or disappeared coins..
3. You think about not only yourself, like when you got enough from crypto and you need to think how you do good with your good coins...
4. .... add your own drama.


I go directly to my point: I tend to think that pairing wallet with (or defining it to be) your DNA is the only way forward. I understand that this DNA-wallet

a1. kills anonymity,
a2. will need a creation in real life, where a small cheap device canbe attached to your body and get your DNA unique identifier sequence quickly and another device that can do this in reverse.
a3. ...

for a1, I guess we imitate the current system of exchanges: a middle traditional wallet (i.e. current 2017) is to be introduced which will use use your DNA-wallet as the identity verification is used today. a2: I am entirely certain that such devices will be around soon. It exist now but each test costs around 100-200 USD.

This idea will kill completely the practice of stealing money and money laundering in a world with crypto currency as the major one. There is no way one can spend the coin obtained in illegitimately.

What do you people think?

[chaser15]

schiz·o·phre·ni·a noun (ˌ/skitsəˈfrēnēə,ˌskitsəˈfrenēə/)

-a long-term men*** dis***** of a type involving a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception, inappropriate actions and feelings, withdrawal from reality and personal relationships into fantasy and delusion, and a sense of mental fragmentation.

[uneng]

I don't want my dna related to a wallet. Anyone can track me this way and it's not safe for our own security. There are methods to know how many bitcoin are in each wallet, if our dna is there, assassins will hunt the owners of wealthy wallets by tracking the dna.
Today it can already happen, because there are hackers looking for wealthy wallets, but I think exposed dna isn't the solution for anything.

[Herbert2020]

1. You loose it (pass, keys, files, ...), like when you have everything in your machine and one day it is gone, destroyed, ...
2. You die or disappear. Your children, loved one, the little good project you started to help somewhere will not get your dead or disappeared coins..
3. You think about not only yourself, like when you got enough from crypto and you need to think how you do good with your good coins...
4. .... add your own drama.

this is why backups exist.
and also things such as BIP39[1] and all those other ways of using a Seed phrase come to work. you just write down the seed phrase on a piece of paper, and store it in a safety deposit box for case of emergency such as your demise or simply losing the wallet or hardware failure.

https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki

I go directly to my point: I tend to think that pairing wallet with (or defining it to be) your DNA is the only way forward. I understand that this DNA-wallet

a1. kills anonymity,
a2. will need a creation in real life, where a small cheap device canbe attached to your body and get your DNA unique identifier sequence quickly and another device that can do this in reverse.
a3. ...

for a1, I guess we imitate the current system of exchanges: a middle traditional wallet (i.e. current 2017) is to be introduced which will use use your DNA-wallet as the identity verification is used today. a2: I am entirely certain that such devices will be around soon. It exist now but each test costs around 100-200 USD.

What do you people think?

interesting suggestions. here are two things that comes to mind
1. that device that you want to attach to the wallet needs to be cheap and reliable and easily obtainable. i don't think that is possible although i have never done any research in this matter.
2. the bigger problem is coming with a way to generate the private keys from the DNA data in a completely random way. and that is where you will encounter problems.

edit oh and i just thought about the worst part of this idea:
3. your DNA can easily be stolen. it exists in your hair, saliva,... and anyone can easily take it from you and generate your wallet and steal your money! you see this is the number 2 all over again, it needs to be random so no one else can generate the same thing again.

[uneng]

I don't want my dna related to a wallet. Anyone can track me this way and it's not safe for our own security. There are methods to know how many bitcoin are in each wallet, if our dna is there, assassins will hunt the owners of wealthy wallets by tracking the dna.
Today it can already happen, because there are hackers looking for wealthy wallets, but I think exposed dna isn't the solution for anything.

So, you do change from fiat to coins in exchanges. How do you do that now? NO identity verification?

Yes, but since the fiat becomes crypto currency, it vanishes throught the web... It can go to different addresses, different persons making the money hard to be tracked. With dna we would be more exposed not only in real life, but in crypto life too.

[danherbias07]

I agree with the kind of wallet to which you want altcoins with it but it is going to be a hard work with maintaining everything.
But the DNA part? That is a big NO for me and maybe for many people here.
Some of the people here dont want themselves being identified with just their DNA.
One more negative part of it. It could cost a crime. I would simply stalk one person. Get his glass and use his DNA and I could make a living out of it. 

[Xester]

Hello everybody,

I have been thinking about the concept of wallet for coins (BTC or alt-coins). I understand that the current system works somewhat well. But what about the future. Imagine you have a wallet or wallets (these days, we need quite a few wallets). It may happen that

1. You loose it (pass, keys, files, ...), like when you have everything in your machine and one day it is gone, destroyed, ...
2. You die or disappear. Your children, loved one, the little good project you started to help somewhere will not get your dead or disappeared coins..
3. You think about not only yourself, like when you got enough from crypto and you need to think how you do good with your good coins...
4. .... add your own drama.


I go directly to my point: I tend to think that pairing wallet with (or defining it to be) your DNA is the only way forward. I understand that this DNA-wallet

a1. kills anonymity,
a2. will need a creation in real life, where a small cheap device canbe attached to your body and get your DNA unique identifier sequence quickly and another device that can do this in reverse.
a3. ...

for a1, I guess we imitate the current system of exchanges: a middle traditional wallet (i.e. current 2017) is to be introduced which will use use your DNA-wallet as the identity verification is used today. a2: I am entirely certain that such devices will be around soon. It exist now but each test costs around 100-200 USD.

What do you people think?

Your concept seems similar it is like the movie TIME. But I dont want that kind of innovation in the bitcoin wallet since it makes things very complicated. If for example a robber wants to rob you of your bitcoin they will kill you and take your dna so they can withdraw your bitcoin. In this case I prefer to use bitcoin wallet in my apps.

[ssb883]

Why attach dna to a wallet?
Wallet address is enough. Maybe it just needs to be registered who the owner is if in case you don't want to lose wealth because of losing, forgetting things.
But this kills the anonymity, one major purpose of cryptocurrency.

[deisik]

~snipped~
What do you people think?

You could just make a tattoo on your ass with you privy key and get done with that

3. your DNA can easily be stolen. it exists in your hair, saliva,... and anyone can easily take it from you and generate your wallet and steal your money! you see this is the number 2 all over again, it needs to be random so no one else can generate the same thing again

It could make some sense in a dystopian society, or, at least, in a movie about such a society where to prove your identity (i.e. that certain coins actually belong to you), they should take your DNA sample. Though I don't know how long Bitcoin would last in an authoritarian world like that. I'd rather say that your DNA could actually be used to prevent you from using Bitcoin and other prohibited coins

It seems that the OP should watch such movies less

[NorrisK]

I agree with the kind of wallet to which you want altcoins with it but it is going to be a hard work with maintaining everything.
But the DNA part? That is a big NO for me and maybe for many people here.
Some of the people here dont want themselves being identified with just their DNA.
One more negative part of it. It could cost a crime. I would simply stalk one person. Get his glass and use his DNA and I could make a living out of it. 

To answer the criminal part: quite contrary. You can not fake a DNA. In your example, yes you may get along a bit when coin ->dna procedure but since DNA=the person (biologically), you can fake completely DNA if you replace everything in you with the person from whom you stole DNA. The reverse part dna->coin is impossible. If you steal DNA (as you say), it may work to get the coin, but if you want to use the coin it wont work.

Why wouldn't it work with stolen DNA? The verification process would not require a full human to work. A tiny bit of DNA is all that would be needed.

Remember, DNA is a simple code made up from protein base pairs. There are a lot of people that already deposited this to public databanks so these are even at risk as their genetic code is already fully accessible.

DNA may sound cool, but in the end, after analysis it is a simple, though huge, list of code which can then be used to access coins.

[gilangIDR]

Hello everybody,

I have been thinking about the concept of wallet for coins (BTC or alt-coins). I understand that the current system works somewhat well. But what about the future. Imagine you have a wallet or wallets (these days, we need quite a few wallets). It may happen that

1. You loose it (pass, keys, files, ...), like when you have everything in your machine and one day it is gone, destroyed, ...
2. You die or disappear. Your children, loved one, the little good project you started to help somewhere will not get your dead or disappeared coins..
3. You think about not only yourself, like when you got enough from crypto and you need to think how you do good with your good coins...
4. .... add your own drama.


I go directly to my point: I tend to think that pairing wallet with (or defining it to be) your DNA is the only way forward. I understand that this DNA-wallet

a1. kills anonymity,
a2. will need a creation in real life, where a small cheap device canbe attached to your body and get your DNA unique identifier sequence quickly and another device that can do this in reverse.
a3. ...

for a1, I guess we imitate the current system of exchanges: a middle traditional wallet (i.e. current 2017) is to be introduced which will use use your DNA-wallet as the identity verification is used today. a2: I am entirely certain that such devices will be around soon. It exist now but each test costs around 100-200 USD.

What do you people think?

Your concept seems similar it is like the movie TIME. But I dont want that kind of innovation in the bitcoin wallet since it makes things very complicated. If for example a robber wants to rob you of your bitcoin they will kill you and take your dna so they can withdraw your bitcoin. In this case I prefer to use bitcoin wallet in my apps.

This is a bit hard to accept. Some concepts such as impossible to apply in real life. But it's good that the concept of a new concept can lead to inspiration. Currently the wallet application is still the most widely used, especially applications that easily synchrone with our smartphone.

[Boseda]

This is a very dystopic scenario!  

I hope something like this will never happen. I know wallets aren't easy to use for most newcomers, though.

The future wallet should be easier to use and to backup. Restoring coins should be even easier than using a seed. Also, it should be safe and stable.

One other important thing I hope more physical wallets will be created. The ones there are today are too expensive and not so easy to use for newbies.

[Iranus]

I agree with the kind of wallet to which you want altcoins with it but it is going to be a hard work with maintaining everything.
But the DNA part? That is a big NO for me and maybe for many people here.
Some of the people here dont want themselves being identified with just their DNA.
One more negative part of it. It could cost a crime. I would simply stalk one person. Get his glass and use his DNA and I could make a living out of it.  

To answer the criminal part: quite contrary. You can not fake a DNA. In your example, yes you may get along a bit when coin ->dna procedure but since DNA=the person (biologically), you can fake completely DNA if you replace everything in you with the person from whom you stole DNA. The reverse part dna->coin is impossible. If you steal DNA (as you say), it may work to get the coin, but if you want to use the coin it wont work.

Why wouldn't it work with stolen DNA? The verification process would not require a full human to work. A tiny bit of DNA is all that would be needed.

Remember, DNA is a simple code made up from protein base pairs. There are a lot of people that already deposited this to public databanks so these are even at risk as their genetic code is already fully accessible.

DNA may sound cool, but in the end, after analysis it is a simple, though huge, list of code which can then be used to access coins.

Uniqueness of your DNA is the point here. It is not like we copy a string of letters and that's all. It will map enough samples (real time analysis of you by hardware, device) of you to IDENTIFY you and VERIFY the authenticity of your claim "who you are".

I understand, but Bitcoin provides alternative methods of evidence.  For example, you can have a seed - my TREZOR has a written seed so that it can be accessed by my family if I die.

People already leave directions to private things in their will, so why not Bitcoin wallets?  Even if they didn't want to do that they could just tell a trusted member of their family.

Furthermore, if you want to verify on this thread that you own a wallet, then all you have to do is sign a message with one of your addresses.  So there's no need to compromise your privacy and potentially security by linking your wallet to an individual.

You can even achieve pseudonymity when buying Bitcoin for fiat if you just buy peer-to-peer through a service like LocalBitcoins, so your point about exchanging with fiat is nearly invalid, especially considering mixers as well.

[deisik]

I agree with the kind of wallet to which you want altcoins with it but it is going to be a hard work with maintaining everything.
But the DNA part? That is a big NO for me and maybe for many people here.
Some of the people here dont want themselves being identified with just their DNA.
One more negative part of it. It could cost a crime. I would simply stalk one person. Get his glass and use his DNA and I could make a living out of it.  

To answer the criminal part: quite contrary. You can not fake a DNA. In your example, yes you may get along a bit when coin ->dna procedure but since DNA=the person (biologically), you can fake completely DNA if you replace everything in you with the person from whom you stole DNA. The reverse part dna->coin is impossible. If you steal DNA (as you say), it may work to get the coin, but if you want to use the coin it wont work.

Why wouldn't it work with stolen DNA? The verification process would not require a full human to work. A tiny bit of DNA is all that would be needed

OP seems to mean something different

He obviously means that everyone has his own variant of DNA, which could be used for identification purposes (something like this guy is actually the one he pretends to be). It may sound cool but I guess this won't work in practice since there is a significant margin of error. Even in case of, say, establishing paternity, there is still a possibility of error. Further, what about "evil twins" which have the same DNA, and what about mutations that DNA is susceptible to over time when you are refused your monetary rights or just rights on the account that your DNA no longer matches yours?

[7788bitcoin]

Oh well, DNA can be synthesized and easily faked. Building a system to detect and match DNA, and verify identity is still too challenging and too costly, and not practical for the foreseeable future.

Besides, I guess most people will prefer more privacy and will not like to have shopping/spending histories to be tied to them for their whole life.

[n0ne]

I agree with the kind of wallet to which you want altcoins with it but it is going to be a hard work with maintaining everything.
But the DNA part? That is a big NO for me and maybe for many people here.
Some of the people here dont want themselves being identified with just their DNA.
One more negative part of it. It could cost a crime. I would simply stalk one person. Get his glass and use his DNA and I could make a living out of it.  

To answer the criminal part: quite contrary. You can not fake a DNA. In your example, yes you may get along a bit when coin ->dna procedure but since DNA=the person (biologically), you can fake completely DNA if you replace everything in you with the person from whom you stole DNA. The reverse part dna->coin is impossible. If you steal DNA (as you say), it may work to get the coin, but if you want to use the coin it wont work.

Why wouldn't it work with stolen DNA? The verification process would not require a full human to work. A tiny bit of DNA is all that would be needed.

Remember, DNA is a simple code made up from protein base pairs. There are a lot of people that already deposited this to public databanks so these are even at risk as their genetic code is already fully accessible.

DNA may sound cool, but in the end, after analysis it is a simple, though huge, list of code which can then be used to access coins.

Uniqueness of your DNA is the point here. It is not like we copy a string of letters and that's all. It will map enough samples (real time analysis of you by hardware, device) of you to IDENTIFY you and VERIFY the authenticity of your claim "who you are".

I understand, but Bitcoin provides alternative methods of evidence.  For example, you can have a seed - my TREZOR has a written seed so that it can be accessed by my family if I die.

People already leave directions to private things in their will, so why not Bitcoin wallets?  Even if they didn't want to do that they could just tell a trusted member of their family.

Furthermore, if you want to verify on this thread that you own a wallet, then all you have to do is sign a message with one of your addresses.  So there's no need to compromise your privacy and potentially security by linking your wallet to an individual.

You can even achieve pseudonymity when buying Bitcoin for fiat if you just buy peer-to-peer through a service like LocalBitcoins, so your point about exchanging with fiat is nearly invalid, especially considering mixers as well.

Right. You are talking about today and tomorrow. I am talking about future. An ultimate identification is through DNA. Really nothing else can provide that level of authentication.

Such a complication is not required for the identification purpose at times of loss of private keys, because these days the wallets were highly secure as well you could give multiple accessibility. The development will go high to any extent, even some might come up with DANA duplication. We cannot deny that's completely impossible.

[gracia0023]

Hello everybody,

I have been thinking about the concept of wallet for coins (BTC or alt-coins). I understand that the current system works somewhat well. But what about the future. Imagine you have a wallet or wallets (these days, we need quite a few wallets). It may happen that

1. You loose it (pass, keys, files, ...), like when you have everything in your machine and one day it is gone, destroyed, ...
2. You die or disappear. Your children, loved one, the little good project you started to help somewhere will not get your dead or disappeared coins..
3. You think about not only yourself, like when you got enough from crypto and you need to think how you do good with your good coins...
4. .... add your own drama.


I go directly to my point: I tend to think that pairing wallet with (or defining it to be) your DNA is the only way forward. I understand that this DNA-wallet

a1. kills anonymity,
a2. will need a creation in real life, where a small cheap device canbe attached to your body and get your DNA unique identifier sequence quickly and another device that can do this in reverse.
a3. ...

for a1, I guess we imitate the current system of exchanges: a middle traditional wallet (i.e. current 2017) is to be introduced which will use use your DNA-wallet as the identity verification is used today. a2: I am entirely certain that such devices will be around soon. It exist now but each test costs around 100-200 USD.

This idea will kill completely the practice of stealing money and money laundering in a world with crypto currency as the major one. There is no way one can spend the coin obtained in illegitimately.

What do you people think?

if you put your wallet to your DNA, meaning that you are welling to track your self were every you are and all your transaction detected because of device put on your DNA.
For me it is not applicable,
Why?
you lost your privacy in all your transaction.
another thing, the government will take advantage to you yo monitor your life style and transaction you do.

[ScorpionKing]

I don't understand the need for it, You should just have your keys secured and have someone who is intimately close to you know they are in a bank vault, hence they can recover it legally later on.. The DNA part would take away the majority of what makes BTC BTC, And it's a little awkward right now, since even normal vaults that I know about (Not the Super CIA style vaults) don't have DNA test.

Oh and another bug, People leave ALLOT of DNA everywhere, it will be the same as you dropping keys whenever you move, get scratched, bleed etc...

[zend7]

Buying a hardware wallet will somewhat solve your problem. It is the best thing, they are small, you keep a copy of the seed words in an offline machine which will never access the internet after you have set it up in a secure online Linux environment. Second you may keep it in your home and tell about it to your loved ones in case something bad happens and they can withdraw the bitcoins or continue your journey in bitcoins. That is the best scenario to save coins in my view.

[mela65]

it should name Multi Coin Wallet MCW - i want my royalty if it is a premium