Casascius Bitcoins are physical coins you can hold - and each one is worth a real digital bitcoin. More high-resolution photos here. You may have heard about Bitcoin, the open-source peer-to-peer "cryptocurrency" that you can send over the Internet without a bank or a middleman. You may have also been told that Bitcoins are completely virtual and that you can't hold them. Not anymore. Each Casascius Bitcoin is a collectible brass coin backed by a real Bitcoin embedded inside. Each piece has its own Bitcoin address that has a balance of 1 bitcoin. Each coin is about 1.125inch (28.6mm) in diameter (bigger than a US quarter but smaller than a half-dollar) and weighs a quarter ounce. The "private key" is on a card embedded inside the coin and is protected by a tamper-evident hologram. The hologram leaves behind a honeycomb pattern if it is peeled. If the hologram is intact, the bitcoin is good. The 8-character code you see on the outside of the coin is the first eight characters of the Bitcoin address assigned specifically to that coin. You can verify the coin's balance on Block Explorer. There is a mathematical relationship between the Bitcoin address and the private key inside the coin. The digital bitcoin is actually located on the public "block chain" stored on the internet, but it is completely inaccessible to anyone unless the private key from the coin is loaded into a Bitcoin wallet. If you ever need to recover the digital bitcoin, there is an import process that allows you to convert the embedded code back into a digital bitcoin so it can be spent over the internet. Because Bitcoin is decentralized, the import process is completely independent, requires no bank or "central authority" to redeem. If you redeem a coin back into digital Bitcoins, it works because the validity of your coin's private key is confirmed by all of the nodes and miners on the Bitcoin peer-to-peer network using mathematical rules. Only accept Casascius Bitcoins bearing an undamaged Casascius hologram from others. This Casascius Physical Bitcoins website is operated by Mike Caldwell, 2901 Little Cottonwood Road, Sandy, Utah 84092. E-mail is casascius at mc2cs.com. Sorry, I am only accepting Bitcoins for payment for this item at this time, not dollars. |