Offline bitcoin coins

_{text on the coin: "Strength in numbers" (lat.)}

The main disadvantage of Bitcoin, anonymous cryptocurrency based on peer-to-peer networks, indicates the absence of any security with material means, hash does not represent any real value, and there is no talk of currency visibility. Attempting to solve a similar problem from casascius is also not particularly encouraging.


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So, someone Mike Caldwell issued coins, the value of each of which corresponds to several bitcoins. At the moment, there are only two options: 1 and 25 bitcoins. Each copy contains its own Bitcoin address and a valid private key under the hologram.

A shiny coin of ฿ 25 is electroplated with real gold. The diameter is 44.5 mm, thickness - 2.9 mm, weight - 34 grams. The coin in denomination ฿ 1 is ordinary brass, diameter is 28.6 mm, weight is 7 grams.

The private key is located on the card embedded in the coin and is protected by an opaque hologram stripe that changes its pattern to the honeycomb, if you open it. The eight-digit code on the coin is the first eight characters of the bitcoin address created specifically for this coin. The balance of the coin can be easily checked using Block Explorer. There is a mathematical connection between the bitcoin address and the private key. Currency is stored on the Internet in block chains, but it is impossible to access it without a private key loaded into a Bitcoin wallet.

There are several ways to get digital currency from this offline option. What is important, none of them relies on the issuer. It is possible, for example, to enter the code directly to the exchange website. The coin maker offers the recovery of used coins at 25 for an amount of 25.5 BTC without shipping costs. Dollars or any other currency other than BTC are not accepted.

The disadvantages of such an implementation of the offline option are enough: starting from the fact that the private key can be scanned, and this method slightly violates the anonymity of the currency, ending with the physical value of the coin above its face value - a penny costs 1.35 BTC, a quarter is sold for 29.50 BTC.

Finally, we will not replace the concept: the cost of a twenty-five-bit-round novelty is ฿ 4.50, that is, precious metals are spent much less than the nominal value of a coin. Thus, about any attempt to provide Bitcoin with real values ​​is out of the question, it is just a collection item, a private key in a shiny metal wrap.

It remains only to envy the entrepreneurial spirit of some people who produce such beautiful things .