Casascius Coin Definition
Casascius Coin is a physical coin created by Mike Caldwell that embodies real Bitcoins embossed on them. Earlier, these coins were embedded with a private key under a tamper-resistant holographic sticker. This key could be used to redeem the digital Bitcoins, but no longer provides this feature due to legal issues.
Casascius Coin Key Points
- Casascius Coins were physical representations of Bitcoin.
- The coins held actual value in Bitcoin.
- The production of these coins has been stopped because of legal issues.
What is a Casascius Coin?
Casascius Coin is a physical form of Bitcoin, conceptualized and produced by Mike Caldwell. Its unique aspect is that it had actual Bitcoin value embedded in it, which could be used by the coin’s holder. However, these coins are discontinued and cannot be redeemed for digital Bitcoins anymore.
Who created Casascius Coin?
The Casascius Coin was created by Mike Caldwell. He conceived and manufactured these coins between 2011 and 2013 as a physical representation of Bitcoin, essentially making it possible for one to hold the virtual currency in their hands.
Where are Casascius Coins used?
Casascius Coins were used globally by Bitcoin enthusiasts who wanted a physical representation of their digital assets. However, the use of these coins as a means to transfer bitcoins has been discontinued due to legal constraints.
When were Casascius Coins created?
Casascius Coins were created by Mike Caldwell starting around 2011. They were produced until 2013, when regulatory issues from the United States government led him to stop their production.
Why did Mike Caldwell create Casascius Coins?
Mike Caldwell created Casascius Coins to offer a tangible version of the digital Bitcoin. This was motivated by the desire to make Bitcoin more tangible and understandable to people unfamiliar with digital currencies.
How does a Casascius Coin work?
Casascius Coins initially worked by encoding the private key to a Bitcoin wallet onto a coin. This key was under a tamper-evident holographic sticker, which, when peeled off, would reveal the key that could be used to redeem the Bitcoins. However, due to regulatory restrictions, these coins are no longer operable as Bitcoin wallets.
