Bitcoin Private Keys engraved in Diamond

[crazy_rabbit]

Is it possible to engrave a key on a crystalline lens? Very handy to always have ur key in front of ur eye(s)... 

I think generally it's possible to engrave anything, although if you are talking about engraving it into your eye It might not last. Certainly glass contacts it should be possible.

Speaking about creepy items though- I am talking with someone about what it would take to create sub-dermal implants: RFID chips or the physical sub dermal piercing that could contain your private key below the skin, or even an engraved QR code on the protruding part of some sub-dermal implants.

Needless to say, the popularity of such devices might be quite far off.

Or, seeing as how some parts of the world are going. Maybe FinCen regulation will require everyone to have their BTC Private key implanted. :-)

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[melvster]

I wanted to gauge interest in a new project I am putting together. I am setting up a new service where by you can have encrypted bitcoin private keys laser engraved in Diamond for safekeeping and as an ultra-luxury product.

We will be launching a website soon but we will also have a brick-and-mortar store location as well so you can bring in your loose diamonds for engraving, or you can purchase certified loose diamonds through us. Alternatively, we will have expert jewelers on site that can remove and replace diamonds from existing settings (rings for example) if you wanted to engrave on a diamond that is already set in jewelry.

The engraving does not affect any of the diamonds physical characteristics (nor changes its value) and will be microscopic. It will be done directly through our partners in Belgium. For non-local customers, shipping will be done via insured carrier and is safe.

I am interested in what questions the community might have about such a service so that I can have them answered already when we launch the website. It's hard to get any sort of market data on a product so novel such as this. What would you want to know before buying an engraved diamond? I'm all ears and very curious to hear peoples opinions!

this http://i.qkme.me/3tryd1.jpg

but seriously, interesting service ... beats a tattoo!

Good point. I think this is relevant for everyone with Bitcoin's. It's an interesting idea as well for mult-sig security. You could for example engrave one signature of a 2 of 3 sig transaction in the diamond. Put it in the bank. Then you could give the other two keys to your wife and your child. If you die, either one would be able to retrieve the bitcoin.

Additionally to response again to the hiding bitcoins in plain sight- if you were to die, there is a much higher chance of your broken toy being overlooked and simply thrown out. No one throws out diamonds, but very few would think to check it with a microscope (unless they were selling it). Also, people are well trained how to treat things like diamonds seriously so someone might safeguard a diamond without even knowing there are bitcoins stored in them, while the same can't be said of a broken toy or some very ordinary looking object. The idea is to hide it in a "seek and you shall find" kind of way.

haha this is sort of genius ... can you imagine a message that was released or decoded 1 year after you die ... 'look inside your diamond there is the key to my btc wallet'

[marcus_of_augustus]

You could for example engrave one signature of a 2 of 3 sig transaction in the diamond. Put it in the bank. Then you could give the other two keys to your wife and your child. If you die, either one would be able to retrieve the bitcoin.

... then you go through a messy, bitter divorce and the lawyer convinces your ex-wife and child to team up to steal your bitcoins ...

[bg002h]

You're idea is a very good one. Very good when you consider what Mike has done with his Casascius password software (which lets you share a private key that is password protected with a password of your choosing).

You should PM Casascius if you are serious about making money with this idea. He's got experience. I'd buy one of these...when my wife and I were married, we got a 3D photo of us engraved in a clear plastic cube. It would work well for provate keys. We were married over 8 years ago, so the technology ain't new.

[crazy_rabbit]

You're idea is a very good one. Very good when you consider what Mike has done with his Casascius password software (which lets you share a private key that is password protected with a password of your choosing).

You should PM Casascius if you are serious about making money with this idea. He's got experience. I'd buy one of these...when my wife and I were married, we got a 3D photo of us engraved in a clear plastic cube. It would work well for provate keys. We were married over 8 years ago, so the technology ain't new.

Will do- thanks for the tip!

[crazy_rabbit]

It wasn't me! :-)

http://www.telegraph.co.uk/news/worldnews/europe/belgium/10043957/Police-swoop-on-suspects-in-international-Belgian-diamond-heist-gang.html

[madmadmax]

You can encode your private key in a vial containing a message printed in DNA using Craig Vener's ASCII->DNA for about 5 hundred bucks. Seems a lot cooler.

[crazy_rabbit]

You can encode your private key in a vial containing a message printed in DNA using Craig Vener's ASCII->DNA for about 5 hundred bucks. Seems a lot cooler.

But if Bitcoin explodes and is worth nothing, you're left with a chunk of worthless DNA.

In this case- you're still left with a perfectly valuable diamond.

[niko]

You cannot stress enough the durability of diamond as a material. Laser-engraved private key on diamond is likely to survive pretty much anything.
I think this idea might work if Bitcoin grows more, and if it is marketed to the right group. Right now, you target would be wealthy (who appreciate diamonds) nerds (who appreciate Bitcoin), which is a rather slim intersection.

[melvster]

You can encode your private key in a vial containing a message printed in DNA using Craig Vener's ASCII->DNA for about 5 hundred bucks. Seems a lot cooler.

But if Bitcoin explodes and is worth nothing, you're left with a chunk of worthless DNA.

In this case- you're still left with a perfectly valuable diamond.

or if the reverse is true, you might create the most valuable diamond in the world

currently the highest is worth about 400mm usd

[melvster]

I wanted to gauge interest in a new project I am putting together. I am setting up a new service where by you can have encrypted bitcoin private keys laser engraved in Diamond for safekeeping and as an ultra-luxury product.

We will be launching a website soon but we will also have a brick-and-mortar store location as well so you can bring in your loose diamonds for engraving, or you can purchase certified loose diamonds through us. Alternatively, we will have expert jewelers on site that can remove and replace diamonds from existing settings (rings for example) if you wanted to engrave on a diamond that is already set in jewelry.

The engraving does not affect any of the diamonds physical characteristics (nor changes its value) and will be microscopic. It will be done directly through our partners in Belgium. For non-local customers, shipping will be done via insured carrier and is safe.

I am interested in what questions the community might have about such a service so that I can have them answered already when we launch the website. It's hard to get any sort of market data on a product so novel such as this. What would you want to know before buying an engraved diamond? I'm all ears and very curious to hear peoples opinions!

So I think you should allow the person to split the entropy.

Example

Bob buys Alice an engagment ring, but he wants it to be more valuable then Brittney's so he puts in 1000 BTC.  He also wants it to hold value.

A private key with 120 bits of entropy is created.

50 bits of entropy goes into the ring.

25 bits of entropy is a shared secret.  Maybe the name of where you met.

25 bits of entropy you keep safe.

20 bits of entropy is destroyed as a proof of work.

This way if the ring is stolen there is protection.

Also in the unlikely event that alice cheats on bob, the coins can be regained and she only keeps the diamond.  (seems a fair deal?)

If bob dies he leaves his 25 bits in his will and alice will be able to claim the coins ...

[MessyCoin]

Question about the idea

Sounds like the engraved encrypted key will be too small to be able to read with the human eye? So in addition to the diamond and the password to decrypt the key, what would be required to access the btc account - ? A magnifying glass? a Microsope? Thanks and sorry if I missed the answer in a previous post!

[niko]

Question about the idea

Sounds like the engraved encrypted key will be too small to be able to read with the human eye? So in addition to the diamond and the password to decrypt the key, what would be required to access the btc account - ? A magnifying glass? a Microsope? Thanks and sorry if I missed the answer in a previous post!

If cut in a certain way, you could just shine light through it and project the key onto the wall.

[crazy_rabbit]

Question about the idea

Sounds like the engraved encrypted key will be too small to be able to read with the human eye? So in addition to the diamond and the password to decrypt the key, what would be required to access the btc account - ? A magnifying glass? a Microsope? Thanks and sorry if I missed the answer in a previous post!

If cut in a certain way, you could just shine light through it and project the key onto the wall.

One of the interesting things I has learned along the way is that diamonds are shiny precisely because of the way they are cut. The light all internally reflects to bounce back out. If you were to cut it so that light could pass straight through, it would not be sparkly at all. Just clear.

It's a neat idea being able to shine a laser through it, although the same cut that would probably make this possible would also probably make it not worth very much.

[crazy_rabbit]

Question about the idea

Sounds like the engraved encrypted key will be too small to be able to read with the human eye? So in addition to the diamond and the password to decrypt the key, what would be required to access the btc account - ? A magnifying glass? a Microsope? Thanks and sorry if I missed the answer in a previous post!

A strong loupe should work. The engraving is small, but not so small that a person couldn't check it in the shop on the spot to be sure.

[crazy_rabbit]

Just a quick update. It looks like the smallest stone we can engrave is 3mm round .1 ct diamond, which is quite small. Perfect for hiding! :-)

[melvster]

Just a quick update. It looks like the smallest stone we can engrave is 3mm round .1 ct diamond, which is quite small. Perfect for hiding! :-)

Got any free samples?

[BitDreams]

Can you locate someone who grows their own gems? There is a company embedding keepsakes into stones, locks of hair, etc. Get a tie in with them to engrave.

[BIGMERVE]

Just a quick update. It looks like the smallest stone we can engrave is 3mm round .1 ct diamond, which is quite small. Perfect for hiding! :-)

And losing.