Besides the issue with printing and paper longevity, another issue with QRCodes is that you can't easily convert them back to data without a proper application that implements the decoding algorithm, and thus you need to extend your trust to the application you use to recover the data.

However, with the proposed format (which is in fact just the oldest storage technique in computer history), one can just use a pen and paper (or any dumb 70s calculator) to easily convert the backup into something usable.

For example: group 4 bits together, and compute `b1*8 + b2*4 + b3*2 + b4` to get the index of a hexdigit; write that down choosing between `0-9a-f`; move to the next group; and that's your password.

I can think of a couple of advantages. For one, punching these holes takes time (and physical space on the object), and a high-redundancy QR code’s extra holes don’t gain you much: instead, this approach situates the redundancy in the physical properties of the object itself.

For two, did you see the encoder/decoder script? Barely two lines of python! Which truly are optional, I guarantee many people here could encode and decode that pattern by eyeball. I know one can hand-calculate a QR code, but why would I when I can use raw bits?