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physical bitcoin whats the point

Physical bitcoins have been around for years, but they are anything but mainstream and there are very few companies involved in this fledgling industry. Some try to appeal to consumers through quality and the use of precious metals, others offer good designs at relatively low prices, while some offer neither.

The market for physical coins is limited and this is a niche for collectors and diehard enthusiasts. The limited size of the industry is a problem, as a number of firms have already gone out of business, while others never even started shipping their products. If beauty is in the eye of the beholder, then, while there are some truly spectacular designs, others may not impress most users.

Caldwell started minting his coins a couple of years ago, but late last year he was banned from selling pre-funded coins. In addition to these silver, brass and gold-plated products, Casascius also sells aluminium promo coins. A bag of costs 0. They are pure silver coins and weigh two ounces.

Both coins were designed by presidential sculptor John B Andelin. Only coins of each series were struck and the pricing reflects the exclusivity. The Adam Smith coin is priced at 2. The Titan One Silver is a one-ounce. Customers can choose from six different QR designs on the back. Each batch contains network statistic data for a period and a particular theme.

Different batches have different names that should amuse most bitcoiners. The coins sell for 0. Although they are not physical coins with QR codes and holograms, they still make for an unusual bitcoin-themed product. The kit includes a coin, two security holograms, a pouch, display stand a few other goodies. Each coin is individually numbered. Like Antana coins, CoinedBits are novelty items with no bitcoin value and they are not physical wallets.

The coins are 38mm in diameter, 3mm thick and weigh one ounce. The material is pure brass with karat gold plating. A four-coin silver bitcoin set is available 0. There were a number of physical bitcoin projects that never amounted to anything. Most are either defunct or delayed. Although they never got off the ground, some them had certain features that make them stand out from the crowd.

A Chinese bitcoiner minted a small batch of one-ounce physical coins and the images were posted on the 8btc. The coin weighs one standard ounce rather than one troy ounce and is made from karat gold.

The current status of the project is unclear. Alderney, one of the British Channel Islands, considered launching a physical coin of its own. Plans for a physical coin were announced late last year, but appear to have been shelved for the time being. There is another way of getting your hands on a physical bitcoin — make one yourself. There are a number of print-ready 3D designs out there and they are just a Google search away, usually on 3D print marketplaces like Shapeways.

The trouble with this approach is that most designs are relatively expensive, even before you include the cost of actually printing them. While it is relatively cheap to do a few plastic prints on semi-professional fused-filament printers, making a proper metal coin on an expensive laser-sintering printer tends to cost a lot. In any case, 3D printing is an alternative way of producing unique physical coins by tweaking existing designs or developing your own.

One example of an affordable design that relies on nylon plastic with a matte finish is the Bitcoin Address Keeper by Ayame Deude. Disclaimer : This article should not be viewed as an endorsement of any of the companies mentioned. Please do your own extensive research before considering investing any funds in these products.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Below are 10 physical bitcoins on the market. Casascius Image via Casascius. Image via Alitin Mint. Image via Titan Bitcoin. Image via Cryptcoin. Image via Antana Coins. Image via Ravenbit. Image via CoinedBits.

Image via Lealana. Image via 8btc. Image via Shapeways. Read more about Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

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physical bitcoin whats the point

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By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. I see some bitcoin documentation sites reference dummy addresses like "1bitcoinEaterAddressDontSend" or something made up like. I'd assume it's just so people reading the docs won't try to "tip" the writer and send to a foobar address that was made up for the sake of example. That said, I find addresses under this schema that actually have quite a bit of bitcoins in. Other than that, there is no other real point at all. These bitcoins are gone forever and no one will ever be able to get .

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Last Updated on December 1, Most of us have probably been asked that very same question on more than one occasion. People might be willing to spend money with a swipe of their card but the idea of a currency that exists in a permanently ephemeral state is a leap of imagination they are not prepared to take. The coins certainly look the part and yet, some explanation of how exactly they work is required before the uninitiated can truly grasp them on even a conceptual level. The value of the coin is displayed on the front in Bitcoins; currently the company offers values ranging from 0. The latter figure is to those unversed in their use, just one point of potential consternation. The reality of course is less dramatic. The coins come with a public key visible on its back face allowing you to verify its value simply by opening a new wallet on the blockchain. The private key is hidden beneath a tamper — proof hologram, that is to say, a person could with some effort get at the key but it would be immediately clear that somebody had done so. A stolen or lost coin could not be easily sold on to a third party with its bitcoin value included in the price without being able to demonstrate that you had access to the private key.

physical bitcoin whats the point

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By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. I see some bitcoin documentation sites reference dummy addresses like whahs or something made up like. I'd physical bitcoin whats the point it's just so people reading the docs won't try to "tip" the writer and send to a foobar address that was made up for the sake of example. That said, I find addresses physicla this schema that actually have quite a bit of bitcoins in.

Other than that, there is no other bitckin point at all. These bitcoins are gone forever and no one will ever be able to whast. However there is some projects or new coins that does Proof-Of-Burning and by sending the bitcoin correctly to the bitcoin eater address you would get physicla amount in the new cryptocurrency.

The point is that someone obviously made up the sentence and then ppint the last few places to make it adhere to the checksum test, i. On the other hand, it's certain that it's not an address someone generated randomly because vanity addresses of that length would take way too much effort to generate.

Back then it came up as a joke, if you mined btc a day wh not dump some for fun to an eater address to make the rest more valueable, then vanity addresses became mainstream Podcast: We chat with Major League Hacking about all-nighters, cup stacking, and therapy dogs.

Listen. Home Questions Tags Users Unanswered. What's the point of Bitcoin eaters? Ask Question. Asked 3 years, 1 month ago. Whatss 3 years, 1 month ago. Viewed 3k times. Can anyone shed some light, lol. Albert Renshaw Albert Renshaw 1 1 gold badge 6 6 silver poiny 15 15 bronze badges. I'd assume it's just so people reading the docs won't try to "tip" the writer and send to a foobar address that was made up for the sake of example That is correct!

Joe Tannoury Joe Tannoury 84 2 2 bronze badges. There are some occasions where burning bitcoin can have a purpose. I remember OpenBazaar originally had some idea for bootstrapping your reputation by burning some coins. You couldn't send your coins to someone else because the same person may be at both ends, you don't know with a permissionless.

Thus, it's a "safe whatss to burn bitcoins. Physical bitcoin whats the point I get that, but what's the point. Why would anyone do this? That was already answered by Bitcoinn a To pbysical a burner address where one can be reasonably sure that it's not held by. Of course, bitcoin eater addresses are around since the early days - but why not exploit it : Back then it came up as a joke, if you mined btc a day wh not dump some for fun physical bitcoin whats the point an eater address to make the rest more valueable, then vanity addresses became mainstream Aurigae Aurigae 1 1 gold physical bitcoin whats the point 4 4 silver badges 14 14 bronze badges.

That's an interesting tidbit about past miners. Ironically some of these addresses are still getting deposits even this week! Sign up or log in Sign up using Google. Sign up using Facebook. Sign up using Email and Password. Post as a guest Name.

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