[2018-04-14] Why this guy paid $75 to store bitcoin under his skin

[Karartma1]

And live on Crazy BitcoinTalk press news the following story 

People are going to great lengths to protect their bitcoin at a time when it's still valuable. Although the highly volatile coin has plunged from its record high of $19,340 last December, it's still worth just over $6,800 a coin today. But according to research from the digital forensics firm Chainanalysis, 17 to 23 percent of all bitcoin is lost forever.
Read more https://www.cnbc.com/2018/04/13/why-this-guy-paid-75-to-store-bitcoin-under-his-skin.html

[Xavofat]

This guy seems to live near this Bitcoin cafe in Prague.  I went to Prague a year or two on holiday and I went to that place.  It only accepts BTC.  They have a Bitcoin ATM and a meeting room upstairs where ethical hackers and cypherpunks sometimes go.  Very cool place.

It's actually not that ridiculous for him to have a chip - it actually seems to be for convenience, not for security.  It's possible that he gets coffee or beers with BTC on a very regular basis, and over the time since 2014 the chip would have paid off.

[aso118]

When a paper wallet in a bank safe is probably more secure, why would you store chips under your skin. Plus, if criminals get wind that you have a fortune under your skin, you are at risk of being mugged and skinned. Not a wise decision to advertise this, in my view.

He does say that he doesn't store a lot under his skin, but people could speculate that he is lying..

[kevoh]

When a paper wallet in a bank safe is probably more secure, why would you store chips under your skin. Plus, if criminals get wind that you have a fortune under your skin, you are at risk of being mugged and skinned. Not a wise decision to advertise this, in my view.

People intending to take this measure should by law be allowed to only store just enough bitcoin on their chip for basic expenses and not fortunes. That way people don't o about killing and skinning others just for couple of dollars worth bitcoin since it will not be worth it.

Wismeijer did not want to disclose how much cryptocurrency he has on his chip but notes that he doesn't store large amounts because of the attention he has received. To avoid hacking threats or physical threats, Wismeijer stores just enough for a few beers or a coffee.

[Lieldoryn]

I'll never agree to put the chip under my skin. For me, it's like installing unknown software on my computer. You can never know who can use this chip. It seems to me that you can always find a safe place without endangering yourself. In a few decades, the government will force people to inject chips under their skin. One should not even allow such an opportunity.

[hatshepsut93]

I'll never agree to put the chip under my skin. For me, it's like installing unknown software on my computer. You can never know who can use this chip. It seems to me that you can always find a safe place without endangering yourself. In a few decades, the government will force people to inject chips under their skin. One should not even allow such an opportunity.

There's certainly a risk that such a chip has some malicious backdoors that allow third parties to spy on users and do other nasty things, but this also applies to other electronics that we were using for years. Our phones and laptops can be used against us by hackers and security services, they can tap their cameras, mics, GPS and so on - so I'd say those chips don't introduce any new risks. People should always try to use open-source software/hardware that was reviewed and considered safe to use by experts.

[RamonBTC]

It’s high time that movie scene like this be in reality. Are we ready for this innovation or we just rejecting until it’s not a trend and acceptable in our mind, morally. This is the future and that won’t change, we expect more of it.

Have heard about a company doing such social experiments on their employees, salaries in chip comparable like this.

If given the chance of doing one on my own skin, I will be open for trying.

[Karartma1]

I will never allow anything of that sort to be included in my body. We are already living in a fucking Matrix and whatever the shit in a RFID chip, even if it's Bitcoin, I firmly say NO