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Bitcoin was born as an entirely digital piece and could have remained so without the efforts of an early adept from Utah, his name was Mike Caldwell, but he was better known as Casascius in the Bitcointalk forum. The physical creator of bitcoin has taken a digital phenomenon and turned it into a physical matter: for the first time in history, bitcoins have acquired a physical form. ] Why a physical bitcoin?
This was the question that Casascius had titled his subject at Bitcointalk on September 6, 2011. A few hours earlier, he had posted a separate topic announcing the launch of the first physical bitcoins. In fact, in the first batch published by Casascius, the cost of display was set at 1 BTC, while each 1 BTC part was set at 1 BTC. costing 1.25 BTC, with an additional 0.25 BTC to cover production costs.
"One side has a hologram," said Casascius. "Under the hologram layer is a private key.The first 8 characters of the Bitcoin address appear on each piece."
"They look awesome," replied L & R. a forum user, "but why would you buy it given the current state of the market / Bitcoin economy? This could be of interest as an investment if there was a good indicator that this investment would earn you any kind of return. "When the joint wrote these words, 1 BTC traded at $ 6.86.
Currency in 1000 BTC
The physical currencies of Casascius were so successful that the batch of 1 BTC was followed by a lot of 10., 25, 100 and up to 1000 BTC. At the peak of the Bitcoin price in December 2017, this currency of 1,000 BTC would represent about 20 million dollars. Mike Caldwell sold his physical pieces of Casascius until the end of 2013, when nearly 28,000 coins were minted. Nearly half of these parts have been exchanged, but more than 47,000 BTCs have not been modified at this point, and are waiting for the owners to be able to remove the holographic layer and exchange them with the private key .
"We can now scratch the line in the first sentence of the [Fórum Bitcointalk] FAQ," a Bitcoin is not tangible, "wrote Casascius in announcing his invention.
" The fact that Bitcoin does be more invisible, I think, by itself. "
It was not wrong." Although BTC remains a predominantly digital currency, today's physical Bitcoins come in many forms, including paper wallets, commemorative coins, and publishing trinkets. By simply registering, printing, or writing public and private keys in a bitcoin address, and masking the latter, everything can be turned into physical bitcoin and used to store any amount of BTC or BCH.
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