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I was going to buy one way back, doh! If so do you have recommendations of where to movies this? They're actually physical wallets, not physical bitcoins. There are 2 independent websites that track the status of all Casascius coins in circulation, casascius on information from the block bitcoin. Maybe he will take kindly to you: We got to be here for the beginning Bitcoin. Retrieved from " https:. Perhaps they'll stay with me forever, who knows.
Yes it's a great way to bring the value into a physical forum! Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. This subreddit is not about general financial news. If ordering two-factor items, paste public key s or intermediate code s here. A neat-looking novelty that looks unmistakably valuable. So don't waste any time! A big hug and greetings from Venezuela.
Use of this site constitutes acceptance of our User Agreement and Casascius Policy. On the end of the stick was a flame, movies we were like, "Grog, Trades should bitcoin not be advertised here.
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 makes car wash tokens.
As of Nov 27, , Mike Caldwell suspended sales of items that contain digital bitcoins. The hologram and the private key is different, the metal part of the coin is the same as the first series. Trust me, whoever is selling the physical coin is about to get scammed.
I dont understand why people are saying this. So what you're saying is- every PayPal transaction ever made on eBay or through the PayPal system the buyer can simply claim they never received the goods and no matter what the seller says- PayPal will do a chargeback and give the money back to the buyer?
I understand there are PayPal scams which happen all the time but I can't see how what you've described would happen else every single PayPal transaction could just be reversed. All PayPal are doing is relying on the honesty of the buyer which seems I was wrong about physical bitcoins, as others have pointed out.
However, selling digital bitcoins, and digital products in general, does not provide protection to the seller in the event of a dispute by the buyer. All they need to do is say they never received the item and paypal automatically sides with them if there is no proof of delivery in the form of tracking or delivery confirmation.
Google "paypal seller protection policy". Then you have never used Paypal as a seller and had a dispute. If he wants, the buyer can just say "Item was not as described", send you an empty package back with tracking, and Paypal will give him his money back. And one of the reasons why we need something like Bitcoin. It was a bunch of bullshit. Mine isn't mint condition. How do physical bitcoins work? The whole point of bitcoins is to have transactions in a block chain on the 'net.
And since the value changes so much against the USD by which we tend to value items I'm trying to figure this out too. I'm assuming that the bitcoin holds a qr code of the private and public keys under the hologram of a wallet with 1 bitcoin.
If you remove the seal you spent the coin. Otherwise you're trusting that there's still a valid coin under there and trade it in person for something of approx the current market value. Exactly that, and the public key is exposed on the outside so you can check that balance. You still have to trust the issuer that the private key is inside and no one else has it. As I understand it, there is a tamper proof sticker on the coin that has the private underneath.
If the private key is exposed the coin is considered spent. IMO it's never a good idea to exchange bitcoins by giving away a private key. It's just a bad idea all around.
Exchanging unprotected private keys is definitely a bad idea. However, the way I understand it, with someone making coins and then sealing the priv-key under a tamper-proof sticker, you still have to trust the issuer but only the issuer.
That would require additional trust. With casascius coins you have to trust the manufacturer to not steal from you. With a bitcoin-backed currency you have to trust the manufacturer to not steal from you AND you need to trust that he will be around when you want to redeem your coins. They are sealed with a hologram. If the hologram is undamaged then the bitcoin is still inside. You still have to trust the manufacturer, but people trust him.
They are basically a novelty item. The cost of making the coins is more than any utility that they provide. Yes that is a more correct way to put it. In a way it's still a matter of trusting the issuer, in a broader sense, in their ability to produce tamper-proof coins.
But, you're right, that's one more thing that makes me uneasy about the "physical bitcoin" idea. Just like a paper wallet they hold the private key corresponding to the address that the mint sent 1BTC to. Physical BTC are actually not possible. A physical bitcoin has a private key printed on a sticker, then affixed to a metal coin.
Aside from numismatic collectibility, the only part of value is the bitcoin stored at that address. Series 1 has a misprint on the back - middle S missing from the name in the small repeated print pattern. They also do not have a see-through window for the public address - the public address is printed on the back of it.
I bought two of these the first week of September. Probably gonna ebay them now, and then buy more coinz! Can somebody explain to me what exactly gives this any value? Could I theoretically make my own Bitcoins?
I think language is a useful analogy. What gives language meaning? States have official languages and professors profess the meaning of words in lengthy catalogs but ultimately, there's no inherent meaning in any sequence of letters, it's an inter-subjective phenomenon. It is people who give language meaning. The coins with the spelling error on the holographic sticker really are a part of internet and financial history now.
I can see why coin collectors would want them even if they aren't particularly interested in the online Bitcoin phenomenon. Likely a hacked Ebay buyer account. Retrieved from " https: