Thoughts on Bitsafe? By Butterfly Labs

[mskryxz]

http://www.youtube.com/watch?v=QA9IUzWbjD0

http://www.butterflylabs.com/bitcoin-hardware-wallet/

Bitcoin Hardware Wallet

Thoughts? Pricing?

[Tirapon]

Pre-order now for delivery in 2015?

[Jan]

I see pictures. No details.

[thatbluedude]

I personally wouldn't expect it anytime soon if at all.
now to derail the tread:
this remindet me to check up on http://www.bitcoincard.org. Is the mycelium bitcoincard officially dead?

[ning]

Encryption and duplication seem to be sufficient for keeping a piece of information safe. Could anybody tell me why this is necessary in the first place?

[BitCoinDream]

http://www.youtube.com/watch?v=QA9IUzWbjD0

http://www.butterflylabs.com/bitcoin-hardware-wallet/

Bitcoin Hardware Wallet

Thoughts? Pricing?

There should be a limit of "hype". This is beyond.

[Tirapon]

Encryption and duplication seem to be sufficient for keeping a piece of information safe. Could anybody tell me why this is necessary in the first place?

Safely storing coins needs to be simple for the less tech-savvy.

[LiteCoinGuy]

cheaper than the trezor thing. they are planning a low cost bitsafe for 30 USD...

[TPN]

I'd buy it for a reasonable price

[davida]

I don't understand why people here seem to be shrugging their shoulders at this idea...  I have imagined something exactly like this for a long time now. If it's cheap enough then this could be the link needed for mass adoption of bitcoin with everyday purchases, a true digital wallet.

... It's just a shame it had to be butterflylabs developing it.  Hopefully a few other big players will start developing similar products which would bring release date closer and keep the prices competitive.

Perhaps companies will considering give the devices out free if they can make a small amount of transaction fee's, but then i think would make it an online wallet rather than a hardware wallet.


How do you think it will work... Wifi connectivity? or perhaps a sim card using gprs/3g?

[koob]

How do you think it will work... Wifi connectivity? or perhaps a sim card using gprs/3g?

I think its more for offline storage than creditcard-like storage. For day to day, low amount payments you can just use your phone.

[Mjbmonetarymetals]

I like it 

[GigaCoin]

personally I've had the hardware wallet idea in my head since a long time, but i realized that web wallets = mass adoption NOT hardware wallets. While whoever makes them will make a lot of money at first but on the long term it's not really a good idea. secure Mobile app wallets do a better job for day to day btc transactions, more convenient too (imagine sending btc over whatsapp in future).

Hardware wallets have huge risk from theft, damage, software crash, component failure, future warranty issues, lack of spare parts / repair in future etc. hardware wallet = just another gimmick gadget in your gadget pile
at home

imagine u keep ur hardware wallet for long term storage, then 5 years later u realize it's not turning on, no thanks.

for backup, paper wallets are best

[Phinnaeus Gage]

I don't understand why people here seem to be shrugging their shoulders at this idea...  I have imagined something exactly like this for a long time now. If it's cheap enough then this could be the link needed for mass adoption of bitcoin with everyday purchases, a true digital wallet.

... It's just a shame it had to be butterflylabs developing it.  Hopefully a few other big players will start developing similar products which would bring release date closer and keep the prices competitive.

Perhaps companies will considering give the devices out free if they can make a small amount of transaction fee's, but then i think would make it an online wallet rather than a hardware wallet.


How do you think it will work... Wifi connectivity? or perhaps a sim card using gprs/3g?

Are you Matthew, for the Elite comes to mind?

[cdog]

What if you lose it?

Strong passwords are the answer to wallet theft. Having all your coins in a single device that can be lost or stolen or broken seems insane to me.

Furthermore, the last thing I need in my life is more gadgets and gizmos to carry around. No thanks.

And, BFL. I dont think I have to say anything there. Its all been said.

[bitpop]

What if you lose it?

Strong passwords are the answer to wallet theft. Having all your coins in a single device that can be lost or stolen or broken seems insane to me.

Furthermore, the last thing I need in my life is more gadgets and gizmos to carry around. No thanks.

And, BFL. I dont think I have to say anything there. Its all been said.

It creates backups on micro sd.

Too bad this is from bfl 1. I'll never buy from them 2. Shipping in 2018

[FlappySocks]

I think it is an overkill.  Why duplicate the functionality of a smartphone?  All you need is a device that can securely keep your private key, and sign transactions.

The Trezor is close, but is lacks NFC and a keypad.

Setup the payment on your phone. Hold the hardware wallet to the back of your phone. Verify address on the display. Enter pin.

You can use an NFC keyboard for setting the thing up.  And get an NFC reader for your PC. Doubles up as 2FA too, like a Yubikey.

[Klestin]

I think it is an overkill.  Why duplicate the functionality of a smartphone?  All you need is a device that can securely keep your private key, and sign transactions.

The problem with a phone is security.  This device is actually designed to pair with a smartphone via bluetooth (or with a PC via USB), and mitigates the risk of wallet theft via malware.

Will it ship? Soon? Cheaply? Who knows?

[jhansen858]

I love how they have half a million dollars as the balance on the picture.

[apetersson]

I personally wouldn't expect it anytime soon if at all.
now to derail the tread:
this remindet me to check up on http://www.bitcoincard.org. Is the mycelium bitcoincard officially dead?

No. I am sitting right in front of the desk with the latest prototypes. We are working furiously on delivering the hardware, we are just not taking preorders when we don't KNOW when we are going to deliver.