Topic: The NEXT generation of Physical Bitcoins... - page 7. (Read 19104 times)

Great feedback.  I think paper physical bitcoins are great, and I don't think they've been done right yet.  There are ways for the bitcoin network itself to serve as the "central bank of bitcoin" and that's basically what I'm working on.  Using the blockchain to handle physical to digital exchange/ redemption addresses a lot of problems. I'd love to hear more ideas from people that KNOW the bitcoin protocol inside and out on how we can make that happen.

UPDATE:  I think I forgot to mention on the forum that "private key included" coins are now available on the website.  There's a dropdown on the product page to select which version you want.  

http://www.titanbtc.com/product/titan-one/

The problem with the current implementation of physical bitcoins is that they are really wallets (or a way to access a wallet) in a pretty package. In other words, while they are a great way to introduce people to the concept, they don't add much value. If I transfer the bitcoin from my physical coin to my smartphone wallet, I still have the same value in my wallet, but now I have a gold (colored) coin that looks pretty, but doesn't have much in it.

I was thinking about an alternative, and I went back to the idea of bitcoin being analogous to gold (except that you can't melt it down). So instead of coin, how about paper? When banks where first created, the bankers held gold for their customers, and issued gold certificates. These certificates could be redeemed at any time at the bank for real gold, so (assuming the bank is dependable) they were used for exchange, and thus paper money was created.

Since we're talking about different levels here, let's take the original banking concept and substitute bitcoin for gold, and (metal) coin for paper. Now let's create the "Bank of Bitcoin", and have it issue (metal) coins in various denomination (1 BTC, 0.25 BTC, 0.1 BTC, .05 BTC, .01 BTC, etc.) The metal coins would not have a Bitcoin address associated with them, but could be redeemed at a bank branch for bitcoin. Or, they could be used to buy things from others without having to have access to a device.

The problems with this idea are that the Bank of Bitcoin would have to develop trust that these coins will always be redeemable. It would also have to adhere to banking regulations. For these reasons it would probably have to start as a subsidiary of an established bank.

On second thought, I don't think the Bitcoin community is ready for this. 

BCB, would you mind posting a pic of the back of the coin?  thanks.

Cool unboxing!  I'll have our customer service dept. send you something as a thank you.

The hologram for the PK coins looks the same, yes.  The next round of holograms we buy will have the first bits as the COIN ID number as well.

Two factor authentication of some type is the ONLY solution to the problem of sticker hacking in my opinion. 

We can do better in terms of protecting the hologram from hacking (and I think some members of the community are working on that) but in my opinion, even if you believe the sticker is secure and un-hackable, a hologram isn't that difficult to counterfeit anymore.  You just can't know for sure if a "private key included" coin holds its value until you sweep that value into a wallet (unless you assembled the coin yourself and it has never left your sight).

We're working towards a decentralized 2FA system that tracks the coin's current owner and doesn't require a central database.  I'd love to hear other ideas on creative ways to leverage the network for 2FA.

Very interesting - thanks for the link!  Perhaps this has already been addressed, but do the Titan coins not have these issues, or is 2-factor their main solution to this?

http://codinginmysleep.com/casascius-physical-bitcoins-cracked-at-defcon/

Also, what does the hologram for the PK ones look like?  Is it the same?

Wait it's easy to fake the hologram or peel it and restick?  Is that what you're saying?  I'm confused.  The casascius coins, to my knowledge, are pretty good at preventing that sort of thing.  I might buy a few just for fun - thanks!

I only hope it is never necessary.

Will work for bitcoin, justice, and liberty.

Ohh I did not notice. My mistake.

Smoothie,  I redacted it that.

Very professional looking.

@TitanBTC,

I noticed in the COA that the field for the # coin is left black (out of 10,000). Was that on purpose or do you plan to number each coin? Just curious.

Aloha! 

Received my Titan Coin today. Very nice.

The coin is about 3.3 cm in diameter so it looks a bit smaller then in the photo.

(The Casascius silver bitcoin is about 3.8mc in diameter)

Came in a small priority mail box with a "Certificate of Authenticity" and Instructions on how to "activate" the coin.

I was able to scan the qr code on the back of the coin with my mobile.

On the web-form I had to enter:
Delivery Confirmation Code received on the letter with the coin.
Email confirmation Number received in the email they sent with shipping notification
Entered My Email
Entered My password

When I submitted the form I received an email to a link to verify the registration and fund the coin.

The coin also came in a little black pouch.
Nice Job Titain.

UPDATE:  For those paying in bitcoins directly, the price has dropped to 1.39 BTC

Thanks

Update: Coins with private keys included (like Casascius) are now available as an option on the website.  For those that ordered them via PM, your orders are shipping out today or tomorrow morning.

http://www.titanbtc.com/product/titan-one/

I don't recommend these if you intend to resell due to the ease of counterfeiting/hacking, but to each his own.