[2018-04-14]Bitcoin Under The Skin Why People Use Subdermal Microchip Wallets

[adel hmdt]

Dutchman Martijn Wismeijer is very cautious when it comes to storing Bitcoin – so much so that in 2014, he had two NFC (near field communication) chips surgically implanted into each hand to store his encrypted Bitcoin keys.

Wismeijer stated a number of reasons for the drastic method of storing crypto, saying he had lost the majority of his Bitcoin over the years to exchange failure, hacking, and theft.

“I can safely say most of the bitcoin, more than 80 percent, I have lost due to hacks, thefts, exchanges gone bad and other problems. If I would’ve had the chip in 2010, I’d probably be a rich man by now.”

However, Wismeijer was also simply curious about the idea of storing his digital currency in his skin, telling IBTimes “I did it because I wanted to experiment with strong bitcoins using subdermal implants because that’s what I thought would be the Holy Grail of contactless payments.”

He had the procedure done at a body piercing studio, which he recommends to anyone wishing to have the procedure done. The chips are manufactured from glass and measure 2mm x 12mm end to end, the size of a small grain of rice. Wismeijer said the process was less painful than an IV drip injection, and pointed out that the procedure is commonly carried out on household pets with no issues.

https://www.ccn.com/bitcoin-under-the-skin-why-people-are-using-subdermal-microchip-wallets/

[Rustamm]

The technology of using crypto currency does not stand still and develops. Of course, hackers, thefts and hacking of crypto currency in purses were and remain one of the big reasons for losing our coins. In the future, perhaps, this will be one of the ways of autonomous safe storage of our crypto currency. This is quite interesting.

[Gotottack]

Dutchman Martijn Wismeijer is very cautious when it comes to storing Bitcoin – so much so that in 2014, he had two NFC (near field communication) chips surgically implanted into each hand to store his encrypted Bitcoin keys.

Wismeijer stated a number of reasons for the drastic method of storing crypto, saying he had lost the majority of his Bitcoin over the years to exchange failure, hacking, and theft.

“I can safely say most of the bitcoin, more than 80 percent, I have lost due to hacks, thefts, exchanges gone bad and other problems. If I would’ve had the chip in 2010, I’d probably be a rich man by now.”

However, Wismeijer was also simply curious about the idea of storing his digital currency in his skin, telling IBTimes “I did it because I wanted to experiment with strong bitcoins using subdermal implants because that’s what I thought would be the Holy Grail of contactless payments.”

He had the procedure done at a body piercing studio, which he recommends to anyone wishing to have the procedure done. The chips are manufactured from glass and measure 2mm x 12mm end to end, the size of a small grain of rice. Wismeijer said the process was less painful than an IV drip injection, and pointed out that the procedure is commonly carried out on household pets with no issues.

https://www.ccn.com/bitcoin-under-the-skin-why-people-are-using-subdermal-microchip-wallets/

Wow. I would say this is really a huge concern now that some investors are more than wiling to undergo health risks just so they could safely store their cryptocurrencies. Is this where we are all heading? I do not know. All I know is how technology is being utilized nowadays for economic security. Hence, I would say the purpose is for the best but I do not think there are zero chances of getting the dose of our own medicine, especially so when bodily operations were done. As we all should know, any foreign objects inserted or implanted in our bodies are soon after rejected because our bodies cannot normally function with it for a long time. I hope there are better ways we can do to safely secure our investments rather than involving our sacred bodies thereby altering its natural physiologic functions.

[buwaytress]

Feel bad for the guy who lost 80% of his coins due to "hacks, exchanges" and other shit. But did he really have to go full paranoid and store his private keys on his body? Now that his name and storage is publicly known, does he not think there could be attempts made to either using radio or some to hack/steal the data on those chips, or in worst case scenario, even just to hack those hands off his body?

Satoshi's supposed wallets have been sitting untouched since 2010. I'm pretty sure he never had to resort to extreme measures. Paper wallets would even have been a far, far better option that those chips. Hardware wallets. Chips in your hands?

[Lucius]

I remember that I was see news about this in 2015 ,so why this is news again in 2018?I assume the media every few years publish old story in a new format,but it not make any sense for me.

Feel bad for the guy who lost 80% of his coins due to "hacks, exchanges" and other shit. But did he really have to go full paranoid and store his private keys on his body? Now that his name and storage is publicly known, does he not think there could be attempts made to either using radio or some to hack/steal the data on those chips, or in worst case scenario, even just to hack those hands off his body?

Satoshi's supposed wallets have been sitting untouched since 2010. I'm pretty sure he never had to resort to extreme measures. Paper wallets would even have been a far, far better option that those chips. Hardware wallets. Chips in your hands?

If you read article then you will know that he only transfer just small amount of coins to that chip,just for buy beer, coffee or biscuits-so hacking that chip would not bring a significant profit to hacker.I agree that it is not smart to expose to public that you own cryptocurrency,but he is in public for long time-and these chips are just experiment-if he did not do it,it would probably have been done by someone else.

But these things have been used for some time now,many say it is just a matter of time when will enter into wide use.Today people use underskin chips to unlock/lock doors,cars,smartphones,computer and many other things.More info : Under the skin: how insertable microchips could unlock the future

[Betwrong]

I remember that I was see news about this in 2015 ,so why this is news again in 2018?I assume the media every few years publish old story in a new format,but it not make any sense for me.

Hm, interesting. Indeed this news was published years ago but for some reasons several news agencies, CNBC, CCN, DiarioBitcoin and Kriptoparahaber have reposted it recently. There's even earlier article on the subject published in Nov 2014 by The Telegraph:

https://www.telegraph.co.uk/technology/news/11220577/Man-embeds-computer-chips-in-hands-to-store-Bitcoin.html

Now that his name and storage is publicly known, does he not think there could be attempts made to either using radio or some to hack/steal the data on those chips, or in worst case scenario, even just to hack those hands off his body?

The data on the chips are encrypted, so stealing them would be worthless. But I agree that it wasn't a wise move to tell the world about the chips, because there is a worst case scenario as you've mentioned.

[Lucius]

Hm, interesting. Indeed this news was published years ago but for some reasons several news agencies, CNBC, CCN, DiarioBitcoin and Kriptoparahaber have reposted it recently. There's even earlier article on the subject published in Nov 2014 by The Telegraph:

https://www.telegraph.co.uk/technology/news/11220577/Man-embeds-computer-chips-in-hands-to-store-Bitcoin.html

I see two possible reasons why some old news is being "rediscovered" like this one.First is that media considered people have short term memory so they can sell the same story several times,like a same candy in a different package.Second reason is maybe in that someone wants to start mass production of such chips and wants to examine what is the opinion of the market today.

There is no doubt that this technology comes into wide use,millions would accept it even today-at least ones that always forget the keys from home or car.