Bitcoin Forum

Hello Forum!

A couple years ago I bought some BTC and then spent them all on purchasing some BitBills. I have the BitBills in my possession.

What I wanted to find out was, how do I sell the Bitbills or convert them into BTC so that I can receive the cash?

Its been ages since I have read up on Bitcoins so I am rather rusty!

Appreciate any help anyone can offer me  :)

There doesn't seem to be a way to redeem them back to Bitcoins yet (that I've found). It may be best to contact BitBills and ask them there.

Bottom of the page: http://bitbills.com/faq

Thanks but I did see that. I have contacted them earlier today but still no reply. Have I lost the BTC I bought if I can't redeem them? Has ANYONE redeemded their Bitbills for BTC?

Maybe I should be a bit clearer  ;D

I don't really want to sell the Bitbills, but I do want to get the BTC from my Bitbills into my Bitcoin wallet. Does this still require Bitbills support? Or can I just open the Bitbills up to reveal the private key??

Am confused, please help  :)

Find the private keys then put them into a Blockchain.info wallet. Then send the Balance to your normal wallet.

Hey, I used to make them. All you gotta do is take a pair of scissor and carefully cut around the plastic square on the front, around the globe hologram.

then peel of the globe, you will see a lot of silver sticker residue. All you gotta do is rub it off with your thumb until the silver part comes off. The qr code is a long form version of a Private key and can be uploaded to a wallet or MTGOX private key upload feature. Pictures coming

Thank you all!

"The qr code is a long form version of a Private key and can be uploaded to a wallet or MTGOX private key upload feature"

How do I upload the Private Key to my Bitcoin wallet?

Once the BTC are in my wallet what is the easiest way to convert them to cash?

The easiest way to convert it to cash is to honestly skip the wallet part, open an MTGOX account and upload your key there (There should be an option that says private key in the import funds section.) after it gets a few confirmations, just sell it there.

I don't own any BitBills so I wasn't sure how this all worked, but man that's pretty darn cool. I may have to invest in some of these now and again.

Well, one thing I remember is that some old versions of bitbills have very little water protection, so as of right now, probably stick to rubbing it off with your finger until I can contact the guy who started it to figure stuff out.

"open an MTGOX account and upload your key there"

To "upload" the key to an MTGOX account do I just type it in? Sorry to sound like such a noob!!  ::)

basically

I have cut open the one bitbill and have the private key. I have registered with Mtgox with the username "ThisIsBTC123". Do I simply click trade, sell bitcoins, click add more (next to GBP in your account) and then under the add funds heading select "redeem private key" from the dropdown box? I assume this part gets the bit coins into my Mtgox account?

Once the bitcoins are in the Mtgox account and have been sold do I just request a withdraw after than (bank transfer)?

Thank you all!

You seem to be right on track. On Mt. Gox, under funding options you can choose to "Add Funds" and then select "Redeem Private Key". Type in the key that you found on the BitBills, give it a description (so you know where the money came from..not completely necessary, but still), and viola, the Bitcoins should be added to your account.

From there you can set up a withdraw method ("Withdraw" tab >> "Add Withdraw Method") to your bank account. It'll probably take a few days to process, but after that you'll be able to fund and withdraw to/from your bank.

So today I cut open my 1 BTC bitbills. When I opened them up there was a private key printed on the back of the QR code. I entered this into MtGox and sold the bit coins. Nice and easy!  ;D

BUT...

Then I cut open the 5 BTC bitbill (same as I did for the 1 BTC bitbills) but this one didn't have the private key printed on the back of the QR code. So I had to try and get the silver stuff that was left over from the sticker/hologram off the QR code and during the process managed to damage the QR code. I have tried multiple times to read the QR code with my phones camera but no joy. I guess I have just lost 5 BTC eh?  ???

I have to say, what a stupid design for the 5 BTC bitbill. Why didn't they print the private key on the back like they did with the 1 BTC bitbill???!!!

I thought they'd only had QR codes...

Nope! The 1 BTC bitbills had the private key printed on the back of the QR code so it worked great as you could enter the private key into Mtgox. The 5 BTC only had a QR code so if this got damaged...well you're stuffed as there was no private key to fall back on...

Tangible bitcoins (coins, bills) with a hidden priv key are insecure, they can be devaluated (unfunded) by anybody, and are much to complicated for the average Joe's and Jane's. I like to pass them like cash money in restaurants (for tips) or to gift them to friends and to business partners. Thats why I prefer keyless Bitbills and Coins like these: http://de.ebid.net/for-sale/1-awesome-brand-new-bitnote-bitbill-107764070.htm
and: http://de.ebid.net/for-sale/1-stunning-brand-new-physical-bitcoin-107779519.htm

Can't tell if serious or just spamming your links and didn't care about what you were saying.

Try selling them here before you spend the bitcoins; prob could get a lot more than whats on the wallet.

Bitbills are bitcoins. read up on it.

The first one -- the coin -- looks like a scam. The image is not real, it is computer-generated, and there is no way to redeem the coin. I assume the bill is a scam because the same person is selling it, and the picture is also fake.

Bitballs.


I have no idea if it's a scam or not, but I got this interesting message from him:


That to me screams bizarre. "Go away and stop drawing attention to my ignorant claims that all hidden private key coins and bills are insecure despite common evidence otherwise!"

Yes, I can. Now what? (Also, if you're actually interested in learning, click the link in my signature. If you're interested in trolling, carry on.)

Yes. I read the description and it confirms everything I wrote.

Matthew N. Wright  /ignore

Interesting choice when your opinions are challenged. I think it speaks volume of your character. Carry on.

Why do people convert bitcoins into these physical forms in the first place?

I think it is helpful to some people to see a tangible form of the money. I buy or make physical bitcoins (in paper and coin form) and hand them out to people as a way to introduce Bitcoin to them.

The conversation usually goes something like this:

"I've heard of Bitcoins."
"Well, here you go. Now you have some."
...

I don't think anyone expects to use these for buying stuff because they are either expensive or they are unsuitable for circulation.

Are you selling any Bitbills as of now ? i want one.

Well, to use them as Cold Storage, Or just keeping them Offline.