Tangem Ring HW - The Lord of the Rings?

[Pmalek]

What I can't stand are these partnerships HW wallet manufacturers enter into (Ledger went way overboard with that), and even some software wallets like Trust have done it as well.

I don't like it either, but I understand why they do it from a business perspective. Why have the users move the funds they want to exchange from the hardware wallet and into a third-party exchange if we can create the same type of service and have them do it on our terms? Plus, we earn a small commission from it. I also don't buy the marketing hype of how it's cheaper than doing the swap directly through the 3rd-party exchange.   

[dkbit98]

Tangem just announced that limited pre-sale for their new Ring device started, but I was not happy when I saw the price of $160 (+shipping), that is more expensive than other popular hardware wallets.
Even if you pay for Ring wallet now they won't be able to send them to customers for months, they plan to start shipping in the end of October, and that usually means in November or December.
Tangem doesn't show any information about source code so I guess it's going to be closed source, and I wouldn't waste my money on that.
https://tangem.com/en/ring/#ring-order

[DaveF]

Tangem just announced that limited pre-sale for their new Ring device started, but I was not happy when I saw the price of $160 (+shipping), that is more expensive than other popular hardware wallets.
Even if you pay for Ring wallet now they won't be able to send them to customers for months, they plan to start shipping in the end of October, and that usually means in November or December.
Tangem doesn't show any information about source code so I guess it's going to be closed source, and I wouldn't waste my money on that.
https://tangem.com/en/ring/#ring-order

From their site:

The Tangem Ring is functionally the same as the new Tangem Wallet cards, except for its different form factor.

So I would guess it's just the RFID and stuff from a card put into a ring. Can't see the firmware or software being any different.

The $160 price is a ring + 2 cards so more or less it's one of their 3 card sets but one of the cards is in a different format.

-Dave

[PrivacyG]

Now that Samsung is making their own Smart Rings that will most likely become pretty main stream, what is your opinion on wearing the Tangem Ring?  Is it a good thing that Smart Rings are becoming more popular for Tangem owners or is it not?

I am kind of skeptical for a few reasons.  One being that once Samsung Rings become more widely known and used, wearing a dark ring on your fingers could trigger specific negative Events.  Authorities seizing it from you, getting it checked and or seized at the Airport or even becoming the target of thieves.

I have seen people with dark rings on their fingers before, but I never thought of it as an expensive item.  Pretty much the opposite instead, as it looks like a regular metal or stone ring.  The launch of Smart Rings could change this.

[SFR10]

Tangem just announced that limited pre-sale for their new Ring device started, but I was not happy when I saw the price of $160 (+shipping), that is more expensive than other popular hardware wallets.

From their site:

The Tangem Ring is functionally the same as the new Tangem Wallet cards, except for its different form factor.

Considering that it doesn't bring anything new to the table while it's almost triple the price of the two Tangem Wallet cards ^{[or double the price, if we remove the two backup cards from the equation]}, it doesn't make sense for Tangem users to upgrade to this HW ^{[especially since the only way to get it to work is by removing the ring from our fingers]}!

• For those who might be interested, the thebitcoinhole's promo code for Tangem Wallets also works for this ^{[it'll be $144]}.

[dkbit98]

So I would guess it's just the RFID and stuff from a card put into a ring. Can't see the firmware or software being any different.

There are already manufacturers in China who are making ring devices like this, so I guess they just made a deal to make them custom device with Ring logo.
Even with two added cards in package I think that it is not worth that much money for this.
Little bird told me that open source alternative ring wallet will come out soon and it's going to be cheaper than $160.

[satscraper]

I would prefer to inject under my skin  the subdermal crypto wallet , the stuff  like this Apex Flex developed by    VivoKey Technologies, rather than wear the ring on my finger, which explicitly identifies me as BTC holder. Those who will wear Tangem Rings automatically  become to be very attractive to $5 wrench.

[SFR10]

I would prefer to inject under my skin  the subdermal crypto wallet , the stuff  like this Apex Flex developed by    VivoKey Technologies, rather than wear the ring on my finger,

I had no idea such a thing existed ^{[quite interesting]}, but I did some digging and it appears that it could suddenly stop working ^[1:06].

which explicitly identifies me as BTC holder.

What I'm about to say is going to sound like I'm trying to defend them ^{[I'm not]}, but I strongly disagree with the above line... There are a lot of other low-profile smart rings in the market and AFAIK, almost all of them are some kind of fitness tracker and the rest are just normal rings.
^{- FWIW, I don't think Tangem will have a lot of customers for these rings!}

[satscraper]

. There are a lot of other low-profile smart rings in the market and AFAIK, almost all of them are some kind of fitness tracker and the rest are just normal rings.

However, contrary to Tangem Ring,  those stuff that are  "just normal things" are not stabbed (constantly) at  smartphone. Thus, I still believe that persons with wallet in the ring form-factor can be easyly spotted and tracked.

Besides, any  ring stuff has a tendency to get lost.

[dkbit98]

I would prefer to inject under my skin  the subdermal crypto wallet , the stuff  like this Apex Flex developed by    VivoKey Technologies

This must be one of the worst thing ever imagined.
Nobody is going to inject anything under my skin ever.  

I am not defending Ring wallet, but people are wearing rings for a very long time, and they are not attracting that much attention, no matter if they are gold, silver, ceramic or any other material.

Besides, any  ring stuff has a tendency to get lost.

I don't know anyone who ever lost a ring, it's not something you often take off.

[satscraper]

I don't know anyone who ever lost a ring, it's not something you often take off.

Hm, I suppose you don't wear such stuff.

My wife lost three of them, very expensive gold ones, one even with diamond. I myself have lost my ring , just misplaced it but not remembering where.

People commonly take them off when take a bath. Besides,  wearing ring for a long time results in the dermal irritation thus you are bound to take it off.

People will lost them, Tangem Ring including.

This must be one of the worst thing ever imagined.

Your instance didn't convince me, sorry.

Nobody is going to inject anything under my skin ever.  

Even If, God forbid, something goes wrong with your cardiac valve? ( Not exactly under skin, but still  into your body)

[SFR10]

However, contrary to Tangem Ring,  those stuff that are  "just normal things" are not stabbed (constantly) at  smartphone. Thus, I still believe that persons with wallet in the ring form-factor can be easyly spotted and tracked.

You have a point, but I don't think it'd make sense to use it in a public space because of the fact that in order to make it work, we have to remove it from our fingers first ^{[even with a privacy screen protector on our phones, it'll surely attract a lot of attention (especially by snatchers)]}.

Besides, any  ring stuff has a tendency to get lost.

Another reason why I think it's not going to have a significant sales volume.

[dkbit98]

Even If, God forbid, something goes wrong with your cardiac valve? ( Not exactly under skin, but still  into your body)

What kind a weird ass question is that? 
I was clearly speaking in contest of payment devices, chips and crap like that, but you can go ahead if you want and let someone else perform all kinds of experiments on you if you want.

[Hispo]

I believe it is quite an interesting Idea, but instead of going all in and using a ring to confirm and sign transactions of Bitcoin and other cryptocurrencies, it would be more constructive to use these kinds of devices as methods of online authentication (together with our phones).  I am also honestly worried on whether this kinds of devices could be targeted by thieves as others have expressed in this thread. Nobody in airports or port of entry in other countries used to pay attention to others wearing black or white rings, as soon this becomes a  trend within the whole of gadgets and technology, I am quite sure authorities in those places will start to pay attention to them and even ask for people to give them to them for a while, so they can verify there is nothing illegal stored in them or something. 

I would personally I would not dare to wear more in my finger, beyond a couple of dollars to pay for a coffee using Litecoin, Monero, or other fast-to-move alternative coins.

[SFR10]

Nobody in airports or port of entry in other countries used to pay attention to others wearing black or white rings, as soon this becomes a  trend within the whole of gadgets and technology, I am quite sure authorities in those places will start to pay attention to them and even ask for people to give them to them for a while, so they can verify there is nothing illegal stored in them or something.

I highly doubt authorities ^{[e.g. TSA]} will ever start to confiscate similar-looking rings of normal people unless they think they're a criminal on the run ^{[in that case, they'll confiscate everything (not just the ring)]}. In addition to that, the ring alone isn't going to be enough to access their funds ^{[e.g. they need the access code as well]}.

[Hispo]

Nobody in airports or port of entry in other countries used to pay attention to others wearing black or white rings, as soon this becomes a  trend within the whole of gadgets and technology, I am quite sure authorities in those places will start to pay attention to them and even ask for people to give them to them for a while, so they can verify there is nothing illegal stored in them or something.

I highly doubt authorities ^{[e.g. TSA]} will ever start to confiscate similar-looking rings of normal people unless they think they're a criminal on the run ^{[in that case, they'll confiscate everything (not just the ring)]}. In addition to that, the ring alone isn't going to be enough to access their funds ^{[e.g. they need the access code as well]}.

Then perhaps I am being a little bit too much paranoid then, probably because I live in a country which is very corrupted and airport officers would not doubt much if they noticed someone carrying a hardware wallet in order for them to interrogate that person and probably accuse them of money laundering or terrorism, all of it is just in order for the person to get scared and give their Satoshis to the officers. It has happened before, but with other kinds of assets, like gold rings and cash.
I have got a friend how moved to Chile and he witnesses how a military woman almost managed to steal a loaf of cash from one of the passengers who was going together with him, in the last minute the cash appeared, because the consulate representative was pressuring the officers to seek for the money.
One of the reasons people are likely to hide their cash when fleeing this place.

[DaveF]

Even If, God forbid, something goes wrong with your cardiac valve? ( Not exactly under skin, but still  into your body)

What kind a weird ass question is that? 
I was clearly speaking in contest of payment devices, chips and crap like that, but you can go ahead if you want and let someone else perform all kinds of experiments on you if you want.

I would not go so far as calling it an experiment. Not to put too fine a point on it but (at least here in the US) people have been micro-chipping their pets for years. So it's not like it's new. While traveling it's probably going to be fun to explain what that thing is in your hand to airport security if you do have one implanted.

-Dave

[m2017]

I highly doubt authorities ^{[e.g. TSA]} will ever start to confiscate similar-looking rings of normal people unless

"Confiscation" doesn't necessarily have to be legal. Hispo says this here:

... all of it is just in order for the person to get scared and give their Satoshis to the officers.

they think they're a criminal on the run ^{[in that case, they'll confiscate everything (not just the ring)]}.

A reason for a thorough search may even be a suspicion of the possibility of being a possible criminal on the run or not quite. If desired, these employees can easily find any reason for a private conversation with you, during which it is easy to find any crypto wallet.

In addition to that, the ring alone isn't going to be enough to access their funds ^{[e.g. they need the access code as well]}.

The availability of the access code is also beyond doubt, since it is obtained through psychological or physical pressure, depending on the degree to which the authorities in a given country comply with the laws.

[dkbit98]

I would not go so far as calling it an experiment. Not to put too fine a point on it but (at least here in the US) people have been micro-chipping their pets for years. So it's not like it's new. While traveling it's probably going to be fun to explain what that thing is in your hand to airport security if you do have one implanted.

Putting microchips (and other experimental liquids) in human bodies IS experimenting, and I don't care if it's coming from Elon Musk in form of his brain chips, or from someone who is using it for identification and  payment.
I know that one group of lunatics think that we are just animals for them, but I really don't care if someone is putting microchips in dogs and cats as preparation for doing the same thing with humans.
This is not related to Tangem Ring, so let's get back on topic.

[PrivacyG]

"Confiscation" doesn't necessarily have to be legal. Hispo says this here:

... all of it is just in order for the person to get scared and give their Satoshis to the officers.

I have a few concerns.  One of them being,

The United States are particularly known for very strict Airport regulations and Security.  If big companies like Samsung start rolling out 'Smart Rings' and maybe some of them look similar to the Tangem Ring, what happens if I am an innocent citizen going through the Airport Security procedures and on the day of my arrival the Airport Staff is on alert for a possible Terrorist trying to enter the United States?  I presume this means verifying Smart phones, which they already do according to my knowledge, together with laptops, Hard Drives et cetera.  With Smart Rings becoming trendy and obviously a technology, would this not put my Tangem Ring at risk?

Also.  Can longer distance NFC detectors be integrated in the Airport filters?  As in once I pass through a gate, which is pretty close to the body anyway, they know I have a smart device on my body.  This could also be a problem if the detection technology allows for it.