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Is There A Physical Bitcoin?

The Promise And Regulatory Challenge Of

The Promise And Regulatory Challenge Of "physical" Bitcoins

The Promise and Regulatory Challenge of "Physical" Bitcoins Physical bitcoins that can be exchanged like cash have been discussed for years. In 2010, Gavin Andresen himself started a Bitcoin Forum discussion on possible ways to print out bitcoins to function as user-created paper money. Physical bitcoins have been often implemented, but there are several challenges. Many physical bitcoin operators active a few years ago have either disappeared or dont show signs of recent activity. Others are just novelty collectibles that dont store actual bitcoins. But there are still some interesting options both on the horizon and on the market in the physical bitcoin space. Physical bitcoins are a real killer app for many reasons, first and foremost because they can be exchanged privately and anonymously without leaving any trace whatsoever, just like cash. Of course, this is exactly the reason regulators hate the idea and will do anything to stop physical bitcoins from spreading. Also, designing physical bitcoins with both high security and high usability is difficult. In an ideal world, simple paper wallets could be used as physical bitcoins. In fact, anyone can make a paper wallet, load it with any amount of BTC, print it out and give it to anyone. The recipient can easily check the balance before accepting the paper wallet and folding it in their physical wallet for further use, just like cash. Of course, in the real world the chain will be broken very soon. Since both the public and the private keys are nicely printed on a paper wallet, anyone can empty the paper wallet after having passed it on. This forces the very first recipient to empty the wallet themselves immediately after receiving it, but then the transaction isnt more private than a normal bitcoin transaction betwe Continue reading >>

Are Physical Bitcoins Legal?

Are Physical Bitcoins Legal?

Bitcoins aren't just an abstract financial instrument living somewhere in the digital ether anymore. They're now a physical currency capable of taking a ride in your pocket or scratching off your lottery tickets. The physical Bitcoins, called Casascius Bitcoins and created by a guy in Utah named Mike Caldwell, are made of brass, with gold electroplating on the 25 Bitcoin denomination. And, of course, they're tied to the peer-to-peer, open-source digital currency that's been exchanged on the Internet for a while now. Each coin has a unique Bitcoin address and a redeemable "private key" under a hologram on the coin. That key can be used to redeem the value of the Bitcoins online, but the hologram sticker leaves a honeycomb mark when peeled back, so you'll know if your Bitcoins have been tampered with. The coins play a function similar to a gift card or certificate with a magnetic strip or bar code. In other words, it provides a tangible means of carrying around the digital key that contains the actual value. There's just one problem--the physical Bitcoins may well be illegal. U.S. statutes prohibit the creation of a currency that competes with the good ol' dollar. Before automatically crying foul, remember that PayPal uses dollars and other official currencies, and that things like various points and mileage programs and even gold and silver don't directly compete with the dollar, at least not yet. Because Bitcoins have been digital-only up until now, it's been easy to argue that they don't compete either. The Bitcoin Wiki argues that the system is no different than bartering using chickens or some other commodity: ...in general trading in any commodity, including digital currency like Bitcoin, game currencies like WoW gold or Linden dollars, is not illegal. The problem Continue reading >>

How To Store Physical Bitcoins

How To Store Physical Bitcoins

Rather than storing your bitcoins on a computer or mobile device, a third option is fairly common among digital currency users. Physical bitcoins yes, they do exist are not just great collectors items, they also let you store your digital currency on them. Or to be more precise, most of them do. Different types of physical bitcoins exist, just as currencies have coins of different monetary values. Each physical coin has its own price, and they come in various alloys. The most common physical bitcoins these days are minted in silver, although there is quite a selection of both bronze and golden coins on the market as well. All coins require a small upfront investment and can be seen as both a collectors item and bitcoin vault at the same time. Most physical bitcoins allow the user to store a bitcoin wallet address, and its private key is in the back of the coin. In doing so, you are officially funding the coin by sending a BTC amount to that designated address. All coins come with funding instructions, so for the most up-to-date information on funding, read that small print! Keep in mind that you are responsible for generating this address and the associated private key yourself, so make sure you are the only one who has access to those details. Once you have created your bitcoin wallet address and private key, youll also receive a small piece of paper on which this confirmation is printed. This document usually comes with the coin itself and includes a hologram. That hologram has to be placed over the back of the coin, making sure your wallet information isnt tampered with (tampering would break the hologram). Many people use physical coins to store some spare bitcoin in the hopes of an increase in BTC price in the future. Plus, these coins cannot be spent unless they Continue reading >>

The Great Physical Bitcoin Robbery

The Great Physical Bitcoin Robbery

How do you steal bitcoin, when it's on a coin? Imagine you're a vintage toy collector. You've got an original Princess Leia action figure from the 70s, mint condition, and it's still in the package. It's worth a lot of money now. One day, when you finally decide to sell it. you walk to the shelf only to find that it's gone from its case; disappeared, without a trace, and without even a scratch on the plastic box that might give a clue about where it went. This is essentially what happened to the owners of what are known as "physical bitcoins" this month, and the losses amount in the tens of thousands of dollars. Now, questions remain about how this could have happened, and how the owner of the company that issued the coins will pay everybody back. Several years ago, numerous companies issued physical bitcoins . These are basically commemorative coins that representan amount of bitcoin. One such company, Alitin, emblazoned its coins with a public bitcoin address, pre-loaded with whatever amount of bitcoin you wanted, and engraved the coins with the private key needed to withdraw the funds from the digital wallet. At the time, Alitin boasted that its coin packaging was designed so that the private key was obfuscated, and so nobody simply viewing the coin could see, and thus steal, the private key. In late February, the Alitin site states , customer coins were wiped of their value. People who bought Alitin coinsin some cases, years ago posted angrily on bitcoin forums that they had checked their coin addresses only to find that they'd been cleaned out. The question on everybody's mind now is: How the hell could this have happened? Someone must have gotten their hands on boththe coins' public addresses, and the private keys. Read More: How a Clever Hacker Tricked a Major B Continue reading >>

Physical Bitcoin: Coins & Paper Money | Ebay

Physical Bitcoin: Coins & Paper Money | Ebay

Bitcoin design, two sides. Color: Golden. Material: Gold Plated. Note: 1. USA SHIP Solid Bronze Metal Gold Plated Bitcoin Gold Plated Physical Bitcoin (BTC) Coin Collectible Gift. Beautiful Bitcoin gold plated art coin. This item is a commemorative collectible with no monetary value attached. Bitcoin design, two sides. Bitcoin design, two sides. 1 x Bitcoin Coin. Diameter: 38mm (reference one yuan coin diameter:25mm). Color: Golden. Material: Gold Plated Iron. Note: Due to the difference between different monitors, ... Each coin is encased in an acid-free archive quality polymer slab and labeled individually based on the coin type encased. Each slab also contains a tamper-evident holographic bitcoin sticker with uni... Bitcoin design, two sides. 1 x Bitcoin Coin. Material: Gold Plated Iron. Color: Gold. We are currently specialized in Womens and Kids Fashion. Our warehouse is located in Yiwu, the largest small com... 1 OZ Bitcoin 24 K. 999 Purity Plated Bitcoin BTC. Logo: Virtual Money Bitcoin. Included: 1 X Bitcoin. Material: Metal. If item is defective after 3 months, you can still send it back to us. We will se... Bitcoin design, two sides. 1 x Bitcoin Coin. Diameter: 38mm (reference one yuan coin diameter:25mm). Color: Golden. Material: Gold Plated Iron. Note: Due to the difference between different monitors, ... Bitcoin design, two sides. 1 x Bitcoin Coin. Material: Gold Plated Iron. Color: Gold. Due to the difference between different monitors, the picture may not reflect the actual color of the item. Also n... It is composed ofnickle with. 999 fine 24 karat. Every coin has their own. gold plating. These are not solid gold. Bitcoin design, two sides. Diameter: 38mm (reference one yuan coin diameter:25mm). Color: Golden. Material: Gold Plated Iron. Bitcoin design, Continue reading >>

Casascius Physical Bitcoins

Casascius Physical Bitcoins

Casascius physical bitcoins, also called Casascius coins, are physical metal coins created by Bitcoin user Casascius (Mike Caldwell, Sandy, Utah, USA) and sold until Nov 26, 2013 [1] , that contain an embedded piece of paper with digital Bitcoin value, covered by a tamper-resistant hologram. Casascius coins are available in 1, 10, 25, 100, and 1000 BTC increments. They can be purchased at Casascius's website, (only Bitcoin accepted), or at (PayPal and credit cards accepted). The coins are designed such that they could be circulated in face-to-face transactions. The first person to redeem its private key gets the value on the coin, and afterwards, the coin no longer has any Bitcoin value. It is difficult or impossible to read the private key on the coin without damaging or destroying the hologram, which exposes a honeycomb-like tamper-evidence pattern when peeled. The piece of paper inside each coin has a private key which forms the backing for the Bitcoin value represented by the coin. Redeeming the private key back into digital Bitcoins is currently available with a patched reference client and many of the alternative clients. Casascius coins are similar to Bitbills in that they are an object that contains a redemption code that serves as a bearer item for digital bitcoins. There are 2 independent websites that track the status of all Casascius coins in circulation, based on information from the block chain: Originally, Mike Caldwell imagined placing a private key on a piece of paper inside a washer with a tamper-evident hologram on each side. However, he found it was more economical to have a real coin minted with a hologram on one side than to have two different hologram designs, and so the first Casascius coins were customized brass coins ordered from a mint that m Continue reading >>

Top 3 Physical Bitcoin Collectible Tokens

Top 3 Physical Bitcoin Collectible Tokens

Top 3 Physical Bitcoin Collectible Tokens The beauty of Bitcoin is something that captures the imagination. The digital money is not tangible or typically viewable by human eye, minus the code and interfaces we use to interact with it. Over the past few years, people have tried to capture the essence of Bitcoin within physical tokens. Today, we will look atthree physical Bitcoin alternatives and see how these creations turn the currency into a collectible art form. The popular Casascius physical Bitcoins have been around for quite some time, and older versions have been known to be quite valuable. The digital currency enthusiast Mike Caldwell, whose nickname is Casascius , created the first printed coins in 2011. The physical coins have a peelable hologram revealing their private keys. When removed, it leaves a tamper-evident pattern. When redeemed, the item loses its digital worth. Casascius coins were originally made available in multiple increments of BTC stored on the minted piece. However in November of 2013, the creator stopped sales of items containing digital Bitcoins. Before Thanksgiving of that year, Caldwell had been asked to cease operations by the Financial Crimes Enforcement Network (FINCEN). Caldwells work wasconsidered a money transmitter and regulations for this activity were unbearable. New Casascius coins sold after this event contained no digital currency , but older versions with loaded Bitcoin can still be found on eBay. Another physical Bitcoin thats available on the market is Finland-based Denarium coins . The website says that Denariums products are made from quality brass produced in the region, and the primary focus of the company is affordability. The business was created by Henry Brade Co-founder and CEO of Denarium. Coins are sold in small Continue reading >>

Amazon.com: Gold Bitcoin: Toys & Games

Amazon.com: Gold Bitcoin: Toys & Games

Select the department you want to search in Enter your model number to make sure this fits. More Crypto Here: Bitcoin, Ethereum, Litecoin, Ripple and more Gold Bitcoin "Cryptocurrencies You Hold" by Blockchain Pub Great for your Bitcoin trading desk and Blockchain meetups Fireproof: useful to use as an algorithm for cryptocurrency / Bitcoin passwords Thank you for supporting the Bitcoin & Blockchain community Customers who bought this item also bought This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. Customers who viewed this item also viewed This shopping feature will continue to load items. In order to navigate out of this carousel please use your heading shortcut key to navigate to the next or previous heading. Find answers in product info, Q&As, reviews Please make sure that you are posting in the form of a question. There was a problem completing your request. Please try your search again later. All Product Information Customer Q&A's Customer Reviews Gold plated Bitcoin diameter: 1.5 inches weight: 1 ounce. Displays well on your Bitcoin Blockchain trading desk. Impress your friends at meetups. Useful for a reminder to hold your cryptocurrencies. Fireproof gold Bitcoin so useful to store passwords and reminders. Continue reading >>

Bitcoin Is Completely Digital, But Physical Bitcoins Do Exist

Bitcoin Is Completely Digital, But Physical Bitcoins Do Exist

Bitcoin is Completely Digital, but Physical Bitcoins Do Exist by Daniel Nyairo | Jul 11, 2015 | Bitcoin Interest Bitcoin is a native of the internet, and thus it is digital in its entirety. This is something about money that the world had never seen. Before the Internet, all forms of money have been based on tangible objects. It is therefore not surprising that you may fancy having physical Bitcoins. These you would share with friends and family as memorabilia collectibles. Thanks to ingenious entrepreneurs, this is a reality. A few enterprises out there are minting coins that represent bitcoins and selling them to willing buyers. Broadly, the physical Bitcoins in supply are in two forms: Those that act as wallets for bitcoins, as well as memorabilia Those that are not used as wallets, but only as memorabilia Casascius is the oldest pre-loaded coin in the market. Mike Caldwell, a bitcoin enthusiast, began manufacturing and shipping them in 2011 from his home workshop. His collection included a variety gold, silver and brass plated coins embedded with bitcoin addresses and redeemable private keys underneath sealed hologram. Since, owning bitcoins, means owning a set of private keys, owning Casascius coins means holding bitcoin value in the physical form. Indeed, for some, this is a preferred form of cold wallet. Unfortunately, US FINCEN regulators now classify this activity as money transmission. This has forced Mike Caldwell to halt production of pre-funded coins. Nevertheless, those already in circulation can still be found on auctions and marketplaces such as Amazon and eBay as well as from individual owners on forums such as bitcointalk.org. In a bid to comply with regulations, the company now ships unfunded physical coins that have empty private keys and address. T Continue reading >>

Is Bitcoin Real Money? Some Things You Need To Know

Is Bitcoin Real Money? Some Things You Need To Know

Is Bitcoin Real Money? Some Things You Need To Know Angel Investors, Startups & Blockchain developers... Its been in and out of the news, and in again. At first glance it seems like nothing worth paying attention to, a joke praised by out-of-touch internet nerds and ivory tower intellectuals. Is it believable that bitcoin has been going strong for 7 years? During this time no less than 118 articles have been written about the death of bitcoin, there is even a site dedicated to recording these bitcoin obituaries . At this point, its safe to say bitcoin is here to stay. So.. what is it exactly? Bitcoin refers to two things: Bitcoin is a payment network similar to Mastercard or Paypal, and bitcoins (the currency) are the medium of exchange on the bitcoin payment network. Bitcoin is a global currency, which is traded person to person without any need for a bank in the middle. If we are to be precise about a definition, for something to be used as money it should hold the following properties: Scarcity. There needs to be a finite supply so that the currency maintains its value. There will only ever be 21 million bitcoins , no person can create more bitcoins. This is a rule which is baked into the bitcoin network, and has a very high degree of security. The vast majority of the people securing the bitcoin network would have to agree on a change to the network rules for them to change, this is highly unlikely to happen given they would agree to change the fundamentals of the network. Durability. This is an open and shut case; digital currency does not wear, tear or break. However, you can buy some physical items which have bitcoin addresses stored on them, for more information see opendime and casascius coins . Fungibility. Is each bitcoin is the same as each other bitcoin? B Continue reading >>

The Promise And Regulatory Challenge Of

The Promise And Regulatory Challenge Of "physical" Bitcoins

The Promise and Regulatory Challenge of "Physical" Bitcoins December 01, 2017, 06:59:24 PM EDT By Giulio Prisco, Bitcoin Magazine Physical bitcoins that can be exchanged like cash have been discussed for years. In 2010, Gavin Andresen himself started a Bitcoin Forum discussion on possible ways to "print out bitcoins to function as user-created paper money." Physical bitcoins have been often implemented, but there are several challenges. Many physical bitcoin operators active a few years ago have either disappeared or don't show signs of recent activity. Others are just novelty collectibles that don't store actual bitcoins. But there are still some interesting options both on the horizon and on the market in the physical bitcoin space. Physical bitcoins are a real killer app for many reasons, first and foremost because they can be exchanged privately and anonymously without leaving any trace whatsoever, just like cash. Of course, this is exactly the reason regulators hate the idea and will do anything to stop physical bitcoins from spreading. Also, designing physical bitcoins with both high security and high usability is difficult. In an ideal world, simple paper wallets could be used as physical bitcoins. In fact, anyone can make a paper wallet, load it with any amount of BTC, print it out and give it to anyone. The recipient can easily check the balance before accepting the paper wallet and folding it in their physical wallet for further use, just like cash. Of course, in the real world the chain will be broken very soon. Since both the public and the private keys are nicely printed on a paper wallet, anyone can empty the paper wallet after having passed it on. This forces the very first recipient to empty the wallet themselves immediately after receiving it, but then Continue reading >>

Physical Bitcoins By Casascius

Physical Bitcoins By Casascius

As of Nov 27, 2013, I suspended sales of items that contain digital bitcoins. Current items for sale do not contain bitcoins. Casascius Bitcoins are physical coins you can hold - and each one is worth real digital bitcoins. Bitcoin is the most widely used open-source peer-to-peer "cryptocurrency" that you can send over the Internet without a bank or a middleman. Each Casascius Bitcoin is a collectible coin backed by real Bitcoins embedded inside. Each piece has its own Bitcoin address and a redeemable "private key" on the inside, underneath the hologram. 1 Casascius Coin: This is a solid brass coin. Each 1-bitcoin coin is about 1.125inch (28.6mm) in diameter (just bigger than a US quarter but smaller than a half-dollar) and weighs a quarter ounce. Perfect as a small gift to introduce someone to Bitcoin. Also available in a 0.5 version which is slightly smaller at 1 inch (25.4mm). 1 Gold-Plated Fine Silver Casascius Round. This is a 39mm 1oz silver round accented with gold electroplating on the rim and on the Bitcoin logo, loaded with one digital bitcoin. 0.5 and 0.1 Fine Silver Casascius Rounds These are a half-ounce and quarter-ounce rounds (respectively) of fine silver. Diameters are 30mm and 25mm. Casascius 2-Factor Gold-Plated Savings Bar: Dress your Bitcoins for tomorrow, make them look their best in your vault today. Would weigh about 12 ounces if it were solid gold, this is a 4.2-ounce metal alloy bar with gold plating. A neat-looking novelty that looks unmistakably valuable. Available as a pre-loaded 100 BTC bar, as well as a non-denominated savings bar. Two-factor encryption is available at no charge. Bar is 80mm x 40mm x 6mm. How they work: The "private key" is on a card embedded inside the coin and is protected by a tamper-evident hologram. The hologram leav Continue reading >>

Denarium Bitcoin - Buy Affordable Denarium Physical Bitcoins | Bitpay Bank Transfer Ethereum Litecoin Dash Monero | Worldwide Shipping

Denarium Bitcoin - Buy Affordable Denarium Physical Bitcoins | Bitpay Bank Transfer Ethereum Litecoin Dash Monero | Worldwide Shipping

We are a first generation Bitcoin startup based in Finland. Prasos was launched in 2012. In addition to Denarium we operate leading European bitcoin exchange platform Coinmotion and the Finnish bitcoin broker Bittiraha.fi . We also operate the largest Bitcoin ATM network in the Nordics called Bittimaatti . We were one of the largest resellers for the classical Casascius Coins . We have years of experience in regards to physical bitcoins. We are a real company with real people behind it. We have a stellar record of providing trustworthy Bitcoin services for the last 4 years. Fast and reliable deliveries to over 250 countries Yes! Login or register to see your referral link. Share your referral link to get rewards when purchases are made by visitors who came through it. You will get a coupon code worth of 2 EUR from every purchase. These coupon codes can be combined. It is prohibited to make purchases through own referral link. If any violations are detected coupon codes will be deactivated and orders may be canceled. Yes! We are in process of building a global reseller network that would enable the purchase of our coins with different payment methods and in physical stores as well. We have our volume discounts public on the product pages already but if you have something special in mind, please email [emailprotected] Our flagship product with 1 full bitcoin has finally arrived! Check out the Denarium 1 BTC . The name is based on the ancient Roman currency system Denarius. We simply switched the end because Denarius is commonly used already. Yes, we do. For all of our new coins there is a multisig option which adds another level of security. When ordering with multisig enabled the coin becomes trustless and therefore extremely secure. The purpose of the activation is to Continue reading >>

What Is Bitcoin? - Cnnmoney

What Is Bitcoin? - Cnnmoney

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures. Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value. Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange. People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally. People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes. Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC. Wallet in cloud: Servers have been hacked. Companies have fled with clients’ Bitcoins. Wallet on computer: You can accidentally delete them. Viruses could destroy them. Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions Continue reading >>

Titan Physical Bitcoins - High Quality, Collectible Physical Bitcoins

Titan Physical Bitcoins - High Quality, Collectible Physical Bitcoins

Titan One Physical Bitcoin 24K .999 Pure Gold Titan One Physical Bitcoin Back showing holographic decal and QR code Peeling off holographic decal reveals the private key used to redeem and transfer the digital bitcoin value Presentation Box for Titan Physical Bitcoins The term physical bitcoin is used to describe any physical coin that contains or has a digital bitcoin value attached to it. Titan coins are widely considered to be the highest quality physical bitcoins currently in existence, and they are available in a variety of bitcoin denominations and highly collectible precious metals including pure Gold and pure Silver. Since bitcoins are technically always DIGITAL currency, physical bitcoins are a way to quickly and easily transfer a set bitcoin value from one person to another, OR store the value of the bitcoin long-term in a secure offline way (this is called Cold Storage, and its the most secure type of bitcoin storage). To redeem a physical bitcoin and transfer the digital bitcoin value to your own digital bitcoin wallet, you simply peel off the one-time-use holographic decal from the back of the coin, and read the private key beneath the decal. Before accepting a Titan physical bitcoin as payment, you can easily verify the value of the coin by simply scanning the public characters on the back of the coin (without peeling off the decal) so you know 100% for sure that the coin has not been tampered with. Why Are Titan Physical Bitcoins The BEST? Titan Physical Bitcoins are sculpted and designed by some of the same professional coin artisans who have worked to create the official products of the U.S. Mint. Every coin is shipped sealed in an air-tight case. The 1 ounce Gold and Silver coins are collector grade .999 pure, and the Gold is 24k, the highest quality. Continue reading >>

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