Bitcoin BTC Ring, Better Status Symbol than Bling?

BitcoinRing1For as long as we can remember, the first order when getting married means picking out an engagement ring for the lady. For it to be considered a token of affection, it not only needs to be special, but worth some dollars. Some, well most, go overboard when spending money on an engagement ring, thinking the size of the rock defines some sort of status of wealth. Why not try an innovative and romantic investment with a different kind of ring, one that holds bitcoin money?

There's one guy who thought this would be a good idea. The BTC Ring, from the mind of Seb Neumayer, started as just an idea back in 2014 at an MIT hackathon. 3D printable and available to be made of any material, the BTC Ring makes “knowing exactly how much this ring is worth” its actual value, not it's karat count. Values are made into what the company calls “Blockchain Inscriptions”, where the user can look up the ring's value via Android app. Further, since “the bling is in its code”, its design can be reprinted as the latest styles come out (3D Print).

BitcoinRingThis all sounds super weird and risky, especially if you were to misplace your BTC ring. However. Neumayer insists that losing the ring does not mean losing your money since the funds are all tied into the Blockchain. Anyone is free to craft their very own BTC Ring on the BTC website. They are preloaded and inscribed by sending Bitcoin money from the user's account address to an address represented by Base58 encoding. A simple and quick scan of the ring shows “its worth”, so, that passerby you're trying to impress may think you’re a millionaire even if you're not. If that's what you're into.

Topics: Gadgets & Peripherals Inventions & Innovations Technology News

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