TIL The First Physical Bitcoin

While Bitcoin is a digital currency, there have been efforts to represent it physically. One of the earliest tries at it is known as a "Casascius coin." These were created by Mike Caldwell, an early Bitcoin enthusiast, starting in 2011.

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How Casascius Coins Worked:

• Each Casascius coin was a real, physical coin that contained a private key for a specific amount of Bitcoin.
• The private key was hidden behind a tamper-evident hologram on the coin.
• To redeem the Bitcoin, the recipient would need to peel off the hologram, revealing the private key.
• These physical coins became collectors' items and were often used as a way to introduce people to the concept of Bitcoin.

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Casascius Coin

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So why don't you see them around?

Legal Challenges: Regulatory concerns in the US led to legal challenges regarding the production and distribution of physical Bitcoins like Casascius coins. Baisiclly then didn't wanted you to print money, at least so evidently. In 2013, Caldwell stopped selling loaded physical Bitcoins.

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Collectible Value:

Today, Casascius coins and other physical Bitcoin representations are considered collectibles and are often sought after by crypto enthusiasts and collectors. They serve as unique artifacts from the early days of BTC and the creative ways people tried to bridge the digital and physical worlds of crypto.

You can still buy one on ebay!