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Bitcoin under the skin- Why people are using subdermal microchip wallets

Apr 17, 2018 Posted /  3913 Views

Bitcoin under the skin- Why people are using subdermal microchip wallets

When it's about stocking up Bitcoin, Martijn Wismeijer is extremely careful to such an extent that in 2014, he had two NFC chips surgically implanted in both hands to store his encrypted keys of Bitcoin.

He declared several rationales for the dire process of storing cryptocurrency, mentioning that he had lost most of his Bitcoin over the years to exchange failure, robbery, and hacking. He said “I can carefully say most of the bitcoin, over 80 percent; I have lost owing to hacks, thefts, exchanges gone bad along with other problems. In case I would’ve had the chip in 2010, I’d perhaps be a wealthy man by now.”

Thats a commendable step for Bitcoin’s security!

Wismeijer, on the other hand, was also only inquisitive about the thought of storing his virtual currency in his skin, saying “I did it for the reason that I wanted to try out with strong bitcoins using subdermal implants as that’s what I thought would be the Holy Grail of contactless payments.”

Wismeijer had the process completed at a body piercing studio, which he suggests to anybody hoping to have the process done. The chips are made from glass which measures 2mm x 12mm end to end, the dimension of a minute grain of rice. He said the procedure was not as sorer than an IV drip injection, also mentioned that the process is normally performed on domestic pets with no problems. The NFC chips have the capacity store 888 bytes of data each, which is a sufficient amount of storage for 26 encrypted Bitcoin address keys. He says he makes use of his chips on a daily basis to do payments. The procedure entails scanning the chips with his smartphone to receive, as well as then decrypt the keys so as to make a transaction. The keys can be taken away and restored with fresh keys for any other cryptocurrencies distantly with a smartphone, furthermore, the encryption thwarts people from merely scanning Wisemeijer’s hands to interpret his keys.

Just some preventive measures

Due to the attention, he has received, by no means has he stored huge amounts on the chips to avert being under attack by thieves, although he says that he’s not the single one storing virtual currencies in this way.

After his news spread like a fire, a lot of his employees pursued the same suit, and he says he knows as a minimum 50 persons in the Prague area alone with subdermal Bitcoin wallets. Even as the technique may seem severe, Bitcoin safety is a vital concern. Allegedly around 23% of all Bitcoin has by now been irrevocably lost, leading people to think about their safety seriously. On the other hand, the health risks will not daunt everyone, and some years later people carry on to follow Wismeijer’s path in taking the eventual safety measure to shield their Bitcoin.

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Tags: Bitcoin Wallets storing virtual currencies NFC chips Bitcoin encrypted keys

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