First Bitcoin vault?

[bobdude17]

http://btcglobal.net/products/btcoinsafe

Only the paranoid survive. If only you could bury your bitcoins underground to stay safe from hackers, keyloggers, and rotten luck.

Opening your BTCoinSafe account:

Creates a laser-engraved crystal wallet.
Secures the crystal wallet in an indestructible medium.
Deposits your wallet in the deepest reaches of a retrofitted high-security prison.

You can check your balance whenever you want on bitcoin's public accounting ledger, the blockchain. And to add funds, just send them to your BTCoinSafe public address. Withdrawing funds takes a bit more time—wallets are only accessed in an isolated panic room under a stringent protocol with your authorization.

At intervals, we'll contact you to see how you're doing. If you fail to respond several times, we assume the worst, shut down your account, and send your bitcoins to other public addresses specified at the creation of your account.

Laser-engraved crystal wallet? That's more like it.

[BitshireHashaway]

Intense... I would get something like that but I would spend more than the bitcoins I have in order to purchase that ... I definitely see the importance of bitcoin security though and support people trying to increase it.

[dillpicklechips]

It sounds really good. But if it become popular it would also be a very high risk target. If a robber ever managed to get into the place it would be disastrous. It makes me wonder if a paper wallet that's hidden very well in multiple locations is perhaps more secure? 

[Chakraball]

Another thread started by bobdude17 plugging btcglobal, if I was a really cynical person I could be forgiven for thinking he was connected to btcglobal, perhaps even an alt of Vlad.

https://bitcointalk.org/index.php?topic=198805.0

[threeip]

Status: In Preparation
Progress / Completion: 45%

Waiting on the laser, the crystal, the prison and the panic room.

It just needs sharks, a drone, Trendon and Satoshi, and it would have all the buzzwords!

[bobdude17]

Another thread started by bobdude17 plugging btcglobal, if I was a really cynical person I could be forgiven for thinking he was connected to btcglobal, perhaps even an alt of Vlad.

https://bitcointalk.org/index.php?topic=198805.0

I'm really just excited. Like I thought other Bitcoin users would be if they saw the new developments I was stumbling across. When I read about a service offering laser engraved crystals and panic room access, and wanting to turn Uruguay into a Bitcoin Switzerland, and everybody is still talking about the Coinbase news or something, I can't help but post.

I think BTC Global might be the next big thing, and I really don't think they will need my help to advertise.
I understand that this can look like I'm plugging them.

[threeip]

When I read about a service offering laser engraved crystals and panic room access,

Other products include;
BTCXperts - LinkedIn for Bitcoin
BitBilly - '0% complete' payment processor
BTC.UY - Order Matching Engine, should be named Order Matching Generator or Order Matching Fiscal Grid...

We have a close relationship with the Uruguayan financial sector and government. While trading platforms continue to close for failing to jump through legal hoops, those managing the rules in Uruguay hold us by the hand and make sure we're doing everything right

After months of negotiations, Uruguay capitulated to OECD and Argentine demands to end bank secrecy

ANTEL, a telco company owned by the government, is the only ISP to provide ADSL service since it enjoys a monopoly in the basic telephony area. Other ISP use other technologies, such as radio, to get to customers.

[keatonatron]

I don't know why anyone would need that, no matter how much money they are trying to keep safe.

Just put your secret key in a safety deposit box. Write down your key after changing something that's easy to remember (for example, change all the e's to a's, and all the a's to e's). It'll be easy for you to change it back to withdraw, but if someone were to steal it it would be worthless to them. Keep multiple copies in a few different safety deposit boxes and you're golden  

The "automatically forward if you don't hear from me" function is a good idea, but if they can access your account if they don't hear from you, is it really all that secure?

[wachtwoord]

When will the vast armies start to surround Uruguay? 

[fizzisist]

Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!

http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN

[threeip]

diamondcrystallasersharkpanicprison!

[bobdude17]

Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!

http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN

I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.

[threeip]

The banks are the guys with the guns. Also, "your savings are stored safely away in Uruguay or wherever", 

[Chakraball]

So you're ready to put your money into a company that doesn't have a real address and isn't registered anywhere because they have a "good website".

[greyhawk]

So you're ready to put your money into a company that doesn't have a real address and isn't registered anywhere because they have a "good website".

No no no, they HAD adresses, but they removed them after I made fun of the ghetto hovels they lived in.

[Geez]

If this website was 100% legit and I had like 1000 BTC I would consider storing some money there.

[crazy_rabbit]

http://btcglobal.net/products/btcoinsafe

Only the paranoid survive. If only you could bury your bitcoins underground to stay safe from hackers, keyloggers, and rotten luck.

Opening your BTCoinSafe account:

Creates a laser-engraved crystal wallet.
Secures the crystal wallet in an indestructible medium.
Deposits your wallet in the deepest reaches of a retrofitted high-security prison.

You can check your balance whenever you want on bitcoin's public accounting ledger, the blockchain. And to add funds, just send them to your BTCoinSafe public address. Withdrawing funds takes a bit more time—wallets are only accessed in an isolated panic room under a stringent protocol with your authorization.

At intervals, we'll contact you to see how you're doing. If you fail to respond several times, we assume the worst, shut down your account, and send your bitcoins to other public addresses specified at the creation of your account.

Laser-engraved crystal wallet? That's more like it.

I'm already doing it:

https://bitcointalk.org/index.php?topic=197793.0

Bitcoin Private Keys in Diamond. :-)

BTW: OP that link looks ridiculous. I wouldn't trust it for a minute. They say for example they will check on you regularly and if you don't respond they will send your bitcoins somewhere. Which means they can send your bitcoins anytime. Which means you're gonna get f*cked. 100% guaranteed.

AND Crystal isn't indestructible. It's glass. It breaks pretty easily.

[greyhawk]

http://btcglobal.net/products/btcoinsafe

Only the paranoid survive. If only you could bury your bitcoins underground to stay safe from hackers, keyloggers, and rotten luck.

Opening your BTCoinSafe account:

Creates a laser-engraved crystal wallet.
Secures the crystal wallet in an indestructible medium.
Deposits your wallet in the deepest reaches of a retrofitted high-security prison.

You can check your balance whenever you want on bitcoin's public accounting ledger, the blockchain. And to add funds, just send them to your BTCoinSafe public address. Withdrawing funds takes a bit more time—wallets are only accessed in an isolated panic room under a stringent protocol with your authorization.

At intervals, we'll contact you to see how you're doing. If you fail to respond several times, we assume the worst, shut down your account, and send your bitcoins to other public addresses specified at the creation of your account.

Laser-engraved crystal wallet? That's more like it.

I'm already doing it:

https://bitcointalk.org/index.php?topic=197793.0

Bitcoin Private Keys in Diamond. :-)

BTW: OP that link looks ridiculous. I wouldn't trust it for a minute. They say for example they will check on you regularly and if you don't respond they will send your bitcoins somewhere. Which means they can send your bitcoins anytime. Which means you're gonna get f*cked. 100% guaranteed.

AND Crystal isn't indestructible. It's glass. It breaks pretty easily.

But dude, LASERS! LAZORRRRS!

[Mike Christ]

Couldn't you just print out the private addresses and, I dunno, laminate it, and keep it somewhere safe?    This all seems excessive, albeit really cool.

[bobdude17]

So you're ready to put your money into a company that doesn't have a real address and isn't registered anywhere because they have a "good website".

I'm not about to put my money anywhere. I'm just watching the new developments rise. I could care less about arguments for or against Bitcoin banking, personally I prefer my own methods of keeping them safe. I am just observing this because I know other people will want vault banking like this, rich people who are used to the idea of secure offshore holdings, and would be impressed with laser cut crystals stored in converted maximum security prisons or whatever.

You have to admit, if this turns out to be legit, it will be pretty big news. Agreements with the Uruguay government and all that. It's another notch for Bitcoin. All I'm sayin.

[rebuilder]

All this hype about security measures is beside the point. Personally, I'm not giving significant amounts of bitcoins to anyone to hold unless they guarantee I will be able to withdraw my coins, and I have a reason to trust them to live up to their word.

I don't ask my bank how strong their vaults are. That's their problem. I trust they'd be in serious trouble if they decided on their own to take withhold my deposits from me in some way not allowed for in my contract with them. That trust is what anyone wishing to run a bitcoin vault needs to gain.

[raze]

I'd rather just make my own security measures. Then I only need to trust myself

[bobdude17]

I think you guys are missing the point.

Their target customers are obviously not the type of people who frequent this forum. That's why this is exciting.

Whether you would use the service or not is irrelevant. They're looking mainstream.

[raze]

I think you guys are missing the point.

Their target customers are obviously not the type of people who frequent this forum. That's why this is exciting.

Whether you would use the service or not is irrelevant. They're looking mainstream.

I disagree. You would only need a "Bitcoin safe" if you know and at least sort of understand what Bitcoins are.

To make Bitcoins mainstream, you'd have to get lots of people using Bitcoins to buy and sell goods/services, only then will these Bitcoin safes make sense to the general population.

[bobdude17]

I disagree. You would only need a "Bitcoin safe" if you know and at least sort of understand what Bitcoins are.

Not really, all you have to have to know is that they were valuable. To rich people - valuable things are stored in shiny vaults with lasers in a country where the government and bank have an understanding. They are anticipating future demand of a such a service, and rightfully so.

To make Bitcoins mainstream, you'd have to get lots of people using Bitcoins to buy and sell goods/services, only then will these Bitcoin safes make sense to the general population.

Again - they are anticipating the future value of BTC. They are betting that Bitcoin will become widely used, a very good sign.




I really am surprised at all the negativity here. The fact that there is even "unconfirmed" evidence of a high security Bitcoin vault, a 300k+ per second trade engine, and a Bitcoin exchange haven in South America with support from the local government, all to be operational in the next couple months is extremely "bullish" news at the least.

[Chakraball]

I disagree. You would only need a "Bitcoin safe" if you know and at least sort of understand what Bitcoins are.

Not really, all you have to have to know is that they were valuable. To rich people - valuable things are stored in shiny vaults with lasers in a country where the government and bank have an understanding. They are anticipating future demand of a such a service, and rightfully so.

To make Bitcoins mainstream, you'd have to get lots of people using Bitcoins to buy and sell goods/services, only then will these Bitcoin safes make sense to the general population.

Again - they are anticipating the future value of BTC. They are betting that Bitcoin will become widely used, a very good sign.




I really am surprised at all the negativity here. The fact that there is even "unconfirmed" evidence of a high security Bitcoin vault, a 300k+ per second trade engine, and a Bitcoin exchange haven in South America with support from the local government, all to be operational in the next couple months is extremely "bullish" news at the least.

Wonderful, and all supplied by a company that doesn't show any real address and doesn't appear to be registered anywhere. I'm sure the millionaires will be queuing up to hand over their cash and Bitcoins, well me, I'll trust my 20 btc is safe on my 3 pen-drives.

[bobdude17]

You really believe BTC Global is a scam?

[threeip]

You really believe BTC Global is a scam?

If not an outright scam, then 'paying for less security than not using their service'... still a scam.

[bobdude17]

Well I guess we will find out come May 30 when they say the exchange is set to launch. June 1st for the vault.




And if I can't seem to get the "value of having a bank account to a lot of people" point across to you... I don't know what else to say really.

[keatonatron]

rich people who are used to the idea of secure offshore holdings, and would be impressed with laser cut crystals stored in converted maximum security prisons or whatever.

I think the people that would be impressed by that probably don't have a lot of money to store 

People who pay for gimmicks don't usually get rich.

[rebuilder]

You really believe BTC Global is a scam?

I'm saying they have to provide reasons to trust them, and an undeground vault is not one.

[threeip]

And if I can't seem to get the "value of having a bank account to a lot of people" point across to you... I don't know what else to say really.

Value isn't a monthly fee to increase risk.
Can you please explain the 'value' here, and how Uruguay is better than eg my mattress?

[bobdude17]

Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!

http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN

I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.

Same premise banks were first founded on. That's not going to change. There are certain real world advantages to not being able to access all of your money immediately.

[greyhawk]

Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!

http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN

I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.

Same premise banks were first founded on. That's not going to change. There are certain real world advantages to not being able to access all of your money immediately.

What's the real world advantage of an unknown Uruguayan entity being able to access all of your money immediately?

[bobdude17]

Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!

http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN

I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.

Same premise banks were first founded on. That's not going to change. There are certain real world advantages to not being able to access all of your money immediately.

What's the real world advantage of an unknown Uruguayan entity being able to access all of your money immediately?

This is getting ridiculous. You literally just quoted my answer to your question.

I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.

And yes it is an "unknown Uruguayan entity", because they haven't even launched yet. No advertising. Yet I am watching their Pre-IPO shares get sold to private investors. With no advertising. They could become "very known" soon. How can you not see that?
And why would they steal your money? Then who would save their money in there? Makes no sense to get all the funding to have a security prison and then just take the money people save there, they stand to lose a lot more money by stealing from their customers. I can't believe I'm explaining this.


Do you really think going mainstream means everyone storing their life savings under their mattress? Tech savvy crypto people might, and the great thing about Bitcoin is you will always have the option to, but honestly you are a fucking moron if you think there will not be a market for these kinds of services in the future.

[threeip]

I've got a privately funded moonbase to store bitcoin. Please send me coins, I've got lasers and stuff.

Geddit?
(Why am i arguing with a sock puppet i don't know..)

[bobdude17]

I've got a privately funded moonbase to store bitcoin. Please send me coins, I've got lasers and stuff.

Geddit?
(Why am i arguing with a sock puppet i don't know..)

That's it? That's all the argument you've got?

[greyhawk]

I've got a privately funded moonbase to store bitcoin. Please send me coins, I've got lasers and stuff.

Geddit?
(Why am i arguing with a sock puppet i don't know..)

Oh yeah? What if the moon blows up? What then, smart guy?

[threeip]

That's it? That's all the argument you've got?

I'll make a pretty website soon and it will be more convincing. Sorry for the delays but we are....

Oh yeah? What if the moon blows up? What then, smart guy?

....working closely with the Moon-ian government so...  

[keatonatron]

I thought the unofficial slogan for bitcoin was "be your own bank"...

This would be like [insert reference about using something the way it's not meant to be used]

[joesmoe2012]

Why not just print off a paper wallet and deposit in safe deposit box or two (with geodiversification if you so desire).

[Stunna]

Very nice, seems a bit too much though.

[joesmoe2012]

Very nice, seems a bit too much though.

Well if you have 23847455092384 bit coins....

Otherwise just do what I do - use blockchain.info :p

[keatonatron]

Well if you have 23847455092384 bit coins....

...your coins are worth $0 because you have every single one! (even the ones that technically don't exist)

[joesmoe2012]

Well if you have 23847455092384 bit coins....

...your coins are worth $0 because you have every single one! (even the ones that technically don't exist)

 hahaha valid point - Subtract about 10 digits from the origional number :p

[hashman]

mmm green apples  

please take my money!

[Operatr]

I pondered what a true hardwallet would be like.

Paperwallets are good and have a good use as a means to give Bitcoin as a gift card or form of payment to your local sect.

But they are not really that good for long term storage. Paper degrades and gets brittle over time, and paper is susceptible to fire and water damage. One spilled Coke could put a quick end to your fortune

I envisioned an engraved metal version to eliminate those problems. They can still be about the same size as a paper wallet, just a bit thicker and heavier, and more importantly everlasting for a long term savings account.


Even a step further, I thought about a Bitcoin Vault as a piece of hardware. This hardware would take care of automatically backing up your encrypted wallets as well as secured cloud backup, fully encrypted itself as a wallet storage device. I think the fact that your wealth could be wiped out by a computer virus or other PC problems is something that limits adoption as a general consumer would fear such a scenario. People are used to seeing their money physically, without a clear understanding of what a wallet is and how to protect it there is a danger. We could use technology to help that. Maybe this is something BlockBurner can work on someday

[BitDreams]

I want this on a budget. Bitcoin safe to be displayed prominently in the center of town where normally 100% surveillance would occur. You could strap the safe to the big oak tree if you have to, it's all about the location. You can personally set levels of security by requiring biometric access, witnessed as you wish.