Casascius Coin Key Points
- Casascius Coins were the first physical bitcoins created.
- They are now considered collectibles due to their historical significance and rarity.
- Each coin contains a private key under a tamper-evident holographic sticker.
- Casascius Coins were produced by Mike Caldwell between 2011 and 2013.
- They are no longer produced due to legal issues with the U.S. government.
Casascius Coin Definition
A Casascius Coin is a physical coin that was minted and sold by Mike Caldwell between 2011 and 2013. Each coin contains a private key which gives access to a certain amount of Bitcoin. The private key is hidden under a tamper-evident holographic sticker.
What is a Casascius Coin?
A Casascius Coin is a physical bitcoin. Each coin contains a private key under a tamper-evident holographic sticker, which gives access to a certain amount of bitcoin.
They were the first physical bitcoins created and have since become collectibles due to their rarity and historical significance.
Who Created Casascius Coin?
The Casascius Coins were created by Mike Caldwell, a software developer from Utah, USA.
He minted and sold these coins between 2011 and 2013, before he was forced to stop due to legal issues with the U.S. government.
When Were Casascius Coins Created?
Casascius Coins were created between 2011 and 2013. They were the first physical bitcoins, and they quickly became popular in the Bitcoin community.
However, production stopped in 2013 when Caldwell received a letter from the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury.
Where Can You Find Casascius Coins?
As the coins are no longer produced, they can be difficult to find. They are often sold on online auction sites or bitcoin collectible sites.
Due to their rarity and historical significance, the price of a Casascius Coin can be significantly higher than the value of the bitcoin it contains.
Why Are Casascius Coins Significant?
Casascius Coins are significant because they were the first physical bitcoins. They represent an important part of Bitcoin’s history.
In addition, each coin is a physical representation of a private key, which is a unique aspect of the Bitcoin system.
How Do Casascius Coins Work?
Each Casascius Coin has a private key hidden under a tamper-evident holographic sticker.
If the sticker is removed, the private key can be used to access a certain amount of bitcoin.
However, once the sticker is removed, it is obvious that the coin has been tampered with. This feature was intended to discourage people from spending the bitcoin while keeping the coin as a collectible.
