how to reload a spent physical bitcoin? any help?

ZephramC

sr. member

Activity: 475

Merit: 255

Quote from: thefendall on April 29, 2013, 11:37:24 AM

I have come across some used bitcoin and would like to reload them if possible, but not quite sure how to go about it.. familiar with moving coin through exchanges, wallets etc, but this seems to be slightly different and not much info out there on how to do it.

Well, you can reload the bitcoin simply by sending BTC to its address. But the one who used that bitcoin first (the one who removed the hologram and redeemed original coin value) will have access to all the balance. If the one was you (and no one knows the privkey) then you could do it and keep the coin at the safe place as colectible with stored value.

thefendall

newbie

Activity: 53

Merit: 0

but basically it has use for personal cold storage, for fun... but not really as a used resale item. As now i would be printing new keys onto it. I thought if it was easy task, would just load them and flip them as used and reloaded, but generating new keys that i cannot physically (and neatly) add to coin, defeats the purpose somewhat... wish I could buy new hologram back with new keys for a few bucks...

charleshoskinson

legendary

Activity: 1134

Merit: 1008

CEO of IOHK

Anyone can reload the coin including you. The issue is that the private key has been compromied. You need a new key pair

soks86

newbie

Activity: 6

Merit: 0

There is no service offered to re-load them by the manufacturer?

I always wondered about this, seems reasonable to do it for a fee... I'm assuming it isn't a trivial process.

charleshoskinson

legendary

Activity: 1134

Merit: 1008

CEO of IOHK

You have a couple of options. Enroll in my course and watch the paper wallet lecture. You can generate a new public/private key pair and put them on the coin. Then you can safety load the address/

https://www.udemy.com/bitcoin-or-how-i-learned-to-stop-worrying-and-love-crypto/

thefendall

newbie

Activity: 53

Merit: 0

i see... oh well then i will keep for nostalgia sake... bought 4 empty coins for 10 bux

astrolabe

newbie

Activity: 20

Merit: 0

It wouldn't be possible for anyone to know that you haven't kept the secret key with which you've reloaded the coins. The originally loaded coins have value because people trust the guy that makes them, but unless you have a very good reputation, that probably won't work for you. It's silly to actually spend loaded physical bitcoins because they are worth more than their bitcoin value.

thefendall

newbie

Activity: 53

Merit: 0

I have come across some used bitcoin and would like to reload them if possible, but not quite sure how to go about it.. familiar with moving coin through exchanges, wallets etc, but this seems to be slightly different and not much info out there on how to do it.

Topic: how to reload a spent physical bitcoin? any help? (Read 896 times)