Who hasn't heard of them; physical coins made of (precious) metal, namely: brass, silver, gold-plated and gold. Maybe unknown to some, there are also gold-plated bars.
The coins were available in increments of 1, 10, 25, 100 and even 1000 BTC, with bars being available in increments of 100, 500 and 1000 BTC, respectively.
These are unfathomable amounts of bitcoin in today's world, likely to be totally out of reach for most of the populace, with the 1- and 10 BTC coins being the exemption.
As per Nov 27, 2013, the creator Mike Caldwell had to suspend the minting of items containing digital bitcoin, for the Financial Crimes Enforcement Network (FinCEN), a branch of the Treasury Department, informed him before, that minting physical bitcoins qualifies him as a money transmitter business, which means that he would've needed to register his activities and most likely obtain state licenses, too.
I'm asking myself if it would be possible to revive the Casascius coins and bars, and mint them in smaller increments, say: 0.01, 0.1, 0.5, 1, 5, 10 BTC, with bars being available in increments of 1, 5 and 10 BTC, respectively.
I think these would be a great way to make bitcoin "physical" again, sure, we have giftcards and such, but in my opinion, they are leagues behind Casascius coins and bars.
I would absolutely love these making a comeback, being intricately designed, made of (precious) metals and perfectly fine for P2P-trades as long as the seal isn't broken, what do you guys think ? Would you like to see a comeback ?
seems pointless to me. just something easier to steal.
reply
I'd absolutely love owning one myself, or gifting them as presents for birthday's or at Christmas.
reply
They're definitely still around. I met a guy a couple years ago who used one as the clockface on his watch.
reply
Yeah, I know, but difficult to come by and with a decent premium, no ? I'd want smaller increments anyways.
reply