Casascius Physical Bitcoins and Their History

Casascius Physical Bitcoins have a unique history that sets them apart from other cryptocurrencies. They were created by Mike Caldwell, a software engineer from Montana.

In 2011, Caldwell began producing physical bitcoins, which were essentially coins made of metal with a unique serial number and a hidden private key. Caldwell's idea was to create a tangible representation of a digital currency.

The first Casascius coins were made of silver and featured a unique design, with some even containing a hidden message or joke. Caldwell's goal was to make the coins as collectible as they were functional.

Each coin had a unique serial number and a private key that could be used to access the corresponding Bitcoin wallet.

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The concept of Casascius Bitcoins was born out of a creative solution to a problem. Mike Caldwell initially envisioned placing a private key on a piece of paper inside a washer with a tamper-evident hologram on each side.

However, he soon discovered that it was more cost-effective to have a real coin minted with a hologram on one side. This led to the creation of the first Casascius coins, which were customized brass coins ordered from a mint that makes car wash tokens.

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Physical coins are a unique way to own and store bitcoin. The first series of Casascius coins, released in 2011, were 1 BTC coins made of solid brass, measuring 1.125 inches in diameter and weighing approximately 0.24 ounces.

The coins have a private key inside the metal part, which is different from the hologram sticker. The first series had a spelling error on the hologram, where "CASACIUS" was misspelled instead of "CASASCIUS". Approximately 3,500 coins were produced as of November 2011.

The second series of coins, also released in 2011, had the same specifications as the first series but with a few changes. The denomination "ONE BTC" appears on the hologram, and the private key is a 30-character string.

Here are the specifications of the first two series of Casascius coins:

In addition to the 1 BTC coins, Casascius also produced coins in higher denominations, including 10 BTC, 25 BTC, and 1000 BTC. The 25 BTC gold-plated round coin, for example, measures 1.75 inches in diameter and weighs approximately 1.2 ounces.

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A Casascius coin is a physical representation of Bitcoin, created by Mike Caldwell in 2011. It's a unique way to own and store Bitcoins.

These coins come in various denominations, including 0.5, 1, 10, 25, 100, 500, and 1000 BTC. The 25 BTC denomination is particularly interesting, with approximately 800 produced between 2011 and 2013.

The coins themselves are made of metal, with the original 1 BTC coin being solid brass, measuring 1.125 inches in diameter. The 25 BTC coin, on the other hand, is gold-plated, measuring 44.5 mm in diameter.

Each coin has a hologram sticker with an eight-digit "firstbits" code inkjetted onto its surface. The private key, which is a 22-character string, is also stored inside the coin. The private key is used to access the associated Bitcoin address.

Here are some key features of Casascius coins:

The second series of physical coins is an interesting topic. These coins are made of solid brass and have a diameter of 1.125 inches.

One notable feature of these coins is the year they were printed, which is 2011. This information is not surprising, given the context of the article.

The denomination "ONE BTC" appears on the hologram of the coin. This is a clear and straightforward label that leaves no room for confusion.

The private key is a 30-character string that is hidden inside the coin. This string is used to generate a 256-bit private key through the SHA256 algorithm.

Here's a summary of the key features of the second series 1 BTC coin:

The 10 Silver Round is a unique collectible that's worth checking out. It was first available on December 1, 2011.

This round has a 39mm diameter, making it a decent size for display or storage. The weight is substantial, with 1 troy ounce of .999 Fine Silver.

The 10 Silver Round features second series holograms marked TEN BTC, adding an extra layer of security and authenticity. The holograms are a nice touch, but it's worth noting that they're not the only feature that sets this round apart.

The back of the round is where things get really interesting, with zeroes and ones encoding the message "Bitcoin: an idea too big to fail". This adds a bit of personality to the round, and serves as a reminder of the Bitcoin's origins.

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The 1 Troy Ounce Gold Coin is a unique piece that's definitely worth mentioning.

Available as of Dec 16, 2011, this coin is a special order item with a 3 business day lead time.

Printed year: 2012, this coin has a diameter of 30mm.

If you're looking for a rare collectible, you might be interested in knowing that as of 12/2020, there are only three unopened 1 Troy Ounce Gold Coins left in the world.

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Physical coins, like Casascius coins, hold a private key inside their body that enables owners to spend the denomination of bitcoin represented by the coin. This private key is what gives the coin its value.

To produce Casascius coins, Mike Cladwell had to first purchase bitcoins and generate private keys to the coins during the production process. He had to purchase bitcoins, which is a process I've learned about from following cryptocurrency news.

The honeycomb hologram on Casascius coins ensured buyers that the coin had never been accessed, and any attempts to open the coin and re-seal it would have left a "honeycomb" pattern. I've seen similar holograms on other coins, but I've never tried to tamper with one.

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Mike Caldwell felt he shouldn't be handling the private keys of others, so he came up with Bitcoin Improvement Proposal (BIP-38) to address it. This proposal introduced "Passphrase-protected private keys", a mechanism to encrypt a private key with a passphrase.

Using a Casascius coin was quite simple, as buyers could immediately use the bitcoins loaded onto the coin by peeling off the hologram seal and accessing the private key. Once I've got the private key, I can import it to bitcoin clients or exchange platforms like Blockchain.com to trade.

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Casascius coins, a type of physical Bitcoin, pioneered secure paper wallets embedded in collectibles.

The tamper-proof honeycomb seal on Casascius coins made it virtually impossible to spend the Bitcoin embedded in them without leaving an evident trace.

This innovative design led to the emergence of other collectibles offering secure paper wallets, including artwork that allows owners to hide their Bitcoin in plain sight.

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Casascius coins were not only secure but also aesthetically appealing, featuring precious and semi-precious metals and a unique hologram seal.

Each Casascius coin had a public Bitcoin address on it, allowing owners to independently verify the amount of Bitcoin embedded in them on the blockchain.

The secure paper wallets embedded in Casascius coins were made possible by the small version of a paper wallet used to embed a Bitcoin amount in each coin.

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Casascius bitcoins were a type of physical bitcoin that was embedded in a coin.

Each coin had a unique private key and a corresponding public address.

They were designed to be a tangible representation of a digital currency, making it easier for people to understand and use bitcoins.

In 2013, the US government seized 50,000 Casascius coins worth around $1 million.

The coins were created by a man named Mike Caldwell, who started producing them in 2011.