It was incredibly popular after it was featured on the fab b3ta who said:
"This rather eccentric chap has decided he wants wave himself through the Tube turnstile with a flourish of a magic wand. So he's dissolved his Oyster card in nail varnish remover and aims to stuff the chip and antenna into a home-made wand. Undergroundio, as Harry Potter might say."
Secondly, great rent-a-quote from a ticket inspector "who did not wish to be named" who said "It's the latest thing. We're seeing more and more of it".
Thirdly, I would love to see the type of "City lads" that are using this as a "status thing" to "show off their watches". Doesn't it just advertise to potential robbers that you've got a Rolex or TAG Heuer or whatever and make you a mugging target?
Fourthly, TfL have only got themselves to blame by introducing an Oyster watch for their staff last year. Apparently 5,000 prototype Oyster wrist-watches were given to transport employees. I imagine if you're a disgruntled employee or have since left TfL that the temptation to auction these on eBay would be remarkably high.
Fifthly, the guy in the YouTube video that the Londonpaper refer to looks so much like Nathan Barley if he were transported into the 21st Century. He has an amazing array of wristbands, watches and body piercings and would make a fantastic Tube Fashion Victim.
Finally, londonpaper rock, by reporting this in the first place and then saying "Watch the Oyster sabotage vid (but don't try it yourself) at thelondonpaper.com".