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12-09 16:44 - 'Casascius Physical Bitcoin 5btc Coin, Version 1, 2012 ‘Error Bitnickel' (self.Bitcoin) by /u/Putin42 removed from /r/Bitcoin within 2-12min
''' 1xCasascius 5 BTC Physical Bitcoin Coin Wallet, 2012 Issue -No actual BTC value loaded, has been previously redeemed. Hologram has beenremoved. Can be reloaded with BTC and is a great way to keep your digital investment physically safe. ~1.125in (28 mm) in diameter, weight 0.24oz (6.8g), about the size of a US quarter This is the 'true' Bitnickel featuring a silver (or nickel) tone hologram. The only nickel Casascius, and has a rare issue with green color firstbits. Manufacturer: Casascius Year: 2012 Version: 1 Denomination: 5btc ‘Error Bitnickel’ Load Year Total Created Unopened 2011 2012 651 570 2013 26 26 2014 Total 677 586 Material: Nickel over Brass Diameter: 28.5mm Thickness: 1.7mm Weight: 7.4g Country: USA Best Grade: MS-66 Released in January 2012 with the v1 hologram, they were priced at 6btc each. “Future version of the coin will have a matching silver series-2 sticker, but they’re at least a month out” -Mike Caldwell, January 14, 2012. They all seem to have signs of wear on the S,I,N,E,R, and I of the ‘Vires In Numeris’ motto, seemingly created in the minting process. Casascius later released an unknown number of 40 coin rolls without holograms as blanks, identifying them as ‘Roll Your Own’. Such a roll came with sheets of laser cut private key tabs and solid gold colored stickers allowing the buyer to create their own coins by using either the provided private keys or by inserting their own. This sale was likely done due to excess stock of Bitnickels. ''' Casascius Physical Bitcoin 5btc Coin, Version 1, 2012 ‘Error Bitnickel Go1dfish undelete link unreddit undelete link Author: Putin42
Help Numisalis Physical Bitcoin get off the ground
Hey everyone! I just started an Indiegogo campaign to get my company, Numisalis, off the ground. I want to make a physical bitcoin that addresses many of the issues I see in the physical bitcoin market. Indiegogo campaign Numisalis web site The overarching issue I see is that physical bitcoin are not tradable. They are collector's items, they are non-durable, or they are both. Here is a list of problems and what I am doing to resolve them:
Markup is too high: When trading a physical bitcoin it is difficult to justify the markup that you had to pay to the minter. Unless the next person is specifically looking for a physical bitcoin they will not be interested in accepting yours with the markup you need to demand. To resolve this I am opening up with a minting margin of 10% and will work to lower this in the future.
Denominations are too high: Trying to trade or make a purchase with a 1 BTC coin is not feasible. Most purchases made are less than $900. My business model gives you many coins of varying denominations to put coins in your hands that are worth $1-$5 and balances that out by also including coins worth $100.
Physical coins are not durable: When I hand a Casascius coin to a friend to look at, the first thing I say is "don't mess with the sticker!" How many trades will a paper wallet last? You will be able to toss Numisalis coins around, carry them in your pocket, expose them to elements, soak them in water, make use of them.
Verification of physical coins is a pain: With a non-reliable FirstBits service, my Casascius coins are only good for me because I still have an email telling me the full bitcoin address. What about coin minters that have their own code for verification on a service they run? I hope their service continues operating. While Numisalis coins will only display FirstBits, they will also be embedded with an NFC tag that will yield the full public address. Also on the NFC tag will be a confirmation code that can use my service to give some confidence that this is a coin that I made. Even though there is a risk the service will not run indefinitely, you have everything you need to still verify the address without the use of a third party. And with my service running, verifying the value and validity of each coin is a very quick and simple task with your NFC enabled smartphone and my app.
I have been involved with Bitcoin for over 2 1/2 years. I am a huge advocate and I think the protocol is pretty great as it is. But I also believe physical bitcoin is valuable and extremely healthy for the bitcoin ecosystem.
Easy to manage cold storage
Bridge and icebreaker to introduce people to bitcoin
I have a friend who purchased a bitcoin from me. He asked if he could just take one of my Casascius coins. I told him it would cost him a lot more than he paid me. He is a programmer but does not want to manage his own digital assets and I really can't blame him. This project is a response to that situation. I want people like him to have a reasonable option for making physical transactions. Why am I doing an Indiegogo campaign for fiat? I thought about fundraising with bitcoin. I don't mind the "hassle" of converting bitcoin to fiat to pay suppliers who don't take bitcoin, but delayed payment does not work well with bitcoin. If the price drops and I can't pay for supplies and the project is sidelined that is not fair to my customers. If the price spikes I don't think it is fair to my customers if I profit off my luck at their expense. Bitcoin is great for instant payment. But not delayed payment. When the campaign is over and I will only take orders through my website I will only take payment in bitcoin. Aren't you worried about what happened with Casascius and FinCen? FinCen deals with money laundering. I will not be charging your coins with bitcoin for you. I will be taking payment for a cold storage solution. I will provide a script for creating a proper transaction to charge the coins I sent, but you will be charging them with your own bitcoin. Why do I need to raise money? Why not just take orders? There is a large up front cost when producing plastics. This campaign takes care of that and the costs of the first run of coins. Once that is complete everything will run as orders from my website.
FirstBits. FirstBits is a proposal for using the blockchain as an address book. When bitcoins are sent to an address, that address becomes recorded in the blockchain. It is therefore known that this address exists or did exist by simply seeing that there was a payment to that address. FirstBits is a method to have a memorable alias. One first converts the address to lower-case, then takes the ... Bitcoin Price (BTC). Price chart, trade volume, market cap, and more. Discover new cryptocurrencies to add to your portfolio. Skip to content. Prices. Products. Company. Earn crypto. Get $171+ Sign in. Get started. Price charts Bitcoin price. Bitcoin price (BTC) Add to Watchlist $ 13,070.01 +0.56%. 1h. 24h. 1w. 1m. 1y. all. $0.0000 January 1 12:00 AM. 10:56 AM 3:06 PM 7:17 PM 11:27 PM 3:38 AM ... Bitcoin’s use value. At first glance, bitcoin would seem to be an exception. You can’t use a bitcoin for anything other than money. It can’t be worn as jewelry. You can’t make a machine out of it. You can’t eat it or even decorate with it. Its value is only realized as a unit that facilitates indirect exchange. And yet, bitcoin ... When creating a value for nBits, Bitcoin Core checks to see if it will produce an nBits which will be interpreted as negative; if so, it divides the significand by 256 and increases the exponent by 1 to produce the same number with a different encoding. Some examples taken from the Bitcoin Core test cases: nBits. Target. Notes. 0x01003456 . 0x00. 0x01123456. 0x12. 0x02008000. 0x80. 0x05009234 ... Abe: block browser for Bitcoin and similar currencies - CryptoManiac/bitcoin-abe
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