(IMO) they are not worth the same... - page 2.

SquirrelJulietGarden

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Quote from: Su-asa on March 26, 2024, 03:37:01 AM

However, I commend you all to take some time and watch how this man made a physical bitcoin with gold and it looks exactly like Bitcoin. Question is will the physical bitcoin worth the same rate like the online Bitcoin? or another design?

With Bitcoin, what do you need to control your bitcoin and actually own it?

Private key or another form of it mnemonic seed of your wallet.

Bitcoin is a digital asset so if anyone, any company that produces what can be called as Physical bitcoin, you see high risk here.

They can print a poster, mint a physical item, and attach Bitcoin private key to that item, then sell it to buyers as Physical Bitcoin Collectibles. But they are the entities that get Private Keys at beginning.

You must trust that person, that company that they don't redeem your bitcoins later with private key they have.

Nightmare with yogg.

My Cold Keys Just Got Swiped! All Cold Kuntz!! It can happen with other people, other companies.

alastantiger

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Quote from: Su-asa on March 26, 2024, 03:37:01 AM

Question is will the physical bitcoin worth the same rate like the online Bitcoin? or another design?

In physical bitcoin, the private keys are simply embedded into physical objects. A physical bitcoin without this embedding is useless. Physical bitcoins has a hologram feature. Underneath the Hologram it contains the private key so your Bitcoin is actually held at a address and the private key is needed to get the Bitcoin off that address so the private key is affixed to the coin and placed under the Hologram. I couldn't watch the video but if what is in the video doesn't have this feature describe, then it is just a piece of art with no use.

Churchillvv

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It amaze me to know that a lot of us still imagine bitcoin being in a physical format, it's absolutely impossible to see bitcoin in a physical format. It's a digital currency as you said hence it's flaws doesn't permit it to being a like our daily fiat or coin.

Perhaps a lot of people have made their physical bitcoin but here in the forum and outside but it can't be considered bitcoin in any way rather it's see as collectables. I could remember someone if I'm correct @cryptoevangelista created a physical bitcoin too it's not been too long ago but he understood the fact that it cannot be a real bitcoin so he made it as a collectable for himself with an encryption of his forum username. So any one can do same but we can it would only have a value for decoration but not a value of bitcoin.

Helena Yu

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Quote from: Su-asa on March 26, 2024, 03:37:01 AM

However, I commend you all to take some time and watch how this man made a physical bitcoin with gold and it looks exactly like Bitcoin. Question is will the physical bitcoin worth the same rate like the online Bitcoin? or another design?

That's not gold, but brass.

Each physical coin worth the same like the real Bitcoin (if you fund it with 1 BTC, nothing less nothing more).

Based on the description, it's just a badge, so it must be cheap.

Charles-Tim

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Quote from: Su-asa on March 26, 2024, 03:37:01 AM

Bitcoin. Question is will the physical bitcoin worth the same rate like the online Bitcoin? or another design?

The physical bitcoin that I know of and which are the physical bitcoin casascius. They are somehow worth more than the price of bitcoin if you sell it physically without tampering with it.

It is worth knowing that bitcoin is digitally created. What makes the coin to be recognized as physical is because it has bitcoin private key which its address has been funded with the amount written on the coin.

Su-asa

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After watching this video on social media then I conclude to post it here for other people to take a good look at it and say their mind.
Bitcoin is an online currency which can be used for different purposes like buying, selling, trading, investing and you can use it as means of payments on your business.
Bitcoin was invested on 2009 and the value of 1 Bitcoin was too low. People that believed on it bought it when it was low price did buy the ones they can. Many people didn't buy Bitcoin because they thought Bitcoin is another Ponzi schemes project.
Today Bitcoin is @66k and people are looking for money to buy as much as they can because they have realized that Bitcoin is a legit project and it's almost bull time.

However, I commend you all to take some time and watch how this man made a physical bitcoin with gold and it looks exactly like Bitcoin. Question is will the physical bitcoin worth the same rate like the online Bitcoin? or another design?

Topic: (IMO) they are not worth the same... - page 2. (Read 356 times)