dissipate (OP)
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August 24, 2012, 06:36:42 PM |
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Would it be worth it to create a gigantic physical Bitcoin? Check out this $1 million Candian maple leaf gold coin: http://coins.about.com/b/2007/05/05/canadian-mint-issues-1000000-face-value-coin.htm. Yes, this would be a publicity stunt. I'm thinking the gigantic physical Bitcoin could be 100,000 BTC (to roughly match $1 million in current prices) with the private address covered by a huge hologram that would have to be removed with special tools (if anyone wanted to get the private address). Thoughts?
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acoindr
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August 24, 2012, 07:09:04 PM |
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LMAO
Awesome
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SgtSpike
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August 24, 2012, 07:22:07 PM |
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I think it would require having $1M first.
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bbit
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Bitcoin
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August 24, 2012, 07:54:20 PM |
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lol
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nimda
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August 24, 2012, 07:54:24 PM |
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I think I want you to tell us before you buy the $1M of BTC ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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BitPay Business Solutions
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August 24, 2012, 10:41:07 PM |
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I think this would be perfect for Casascius! It would be great publicity, even if nobody buys it.
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BitPay : The World Leader in Bitcoin Business Solutions https://bitpay.comDoes your website accept bitcoins?
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weex
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August 24, 2012, 10:49:10 PM |
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Think bigger. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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dissipate (OP)
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August 24, 2012, 10:50:14 PM |
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Think bigger. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) What did you have in mind?
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maaku
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August 24, 2012, 10:56:06 PM |
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Wow, that was an awesome read. Thank you.
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I'm an independent developer working on bitcoin-core, making my living off community donations. If you like my work, please consider donating yourself: 13snZ4ZyCzaL7358SmgvHGC9AxskqumNxP
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nimda
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August 24, 2012, 10:56:46 PM |
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Wow, that was an awesome read. Thank you. QFT I bet we can relate it to Bitcoin somehow ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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dissipate (OP)
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August 24, 2012, 11:01:44 PM |
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Wow, that was an awesome read. Thank you. QFT I bet we can relate it to Bitcoin somehow ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Since weex said to 'think bigger', perhaps we should make a physical bitcoin the size of a Yap stone?
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paraipan
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August 24, 2012, 11:09:16 PM Last edit: August 25, 2012, 12:10:36 AM by paraipan |
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Wow, that was an awesome read. Thank you. QFT I bet we can relate it to Bitcoin somehow ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Since weex said to 'think bigger', perhaps we should make a physical bitcoin the size of a Yap stone? You bet ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Interesting part starts from minute 2:00 - http://blip.tv/amherstmedia/making-money-gavin-andresen-ignite-amherst-4789326
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BTCitcoin: An Idea Worth Saving - Q&A with bitcoins on rugatu.com - Check my rep
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HeavyMetal
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August 25, 2012, 12:01:04 AM |
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I would weld a manhole cover over that private key.
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TangibleCryptography
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August 25, 2012, 12:19:53 AM Last edit: August 25, 2012, 01:55:05 AM by TangibleCryptography |
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I bet we can relate it to Bitcoin somehow ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Yap stones are very similar to Bitcoin. In Bitcoin we use terms like "sending coins" but the reality is you never send them to the recipients. You announce you are transfering ownership to the bitcoin community and miners make a lasting record of that announcement. Your wallet knows you have 123.456 BTC because it looks at all these "announcements" (transactions) and tallys them up. Yap stones were never/rarely moved. Wealth was transferred by announcing it to the community. Ownership was determined by consensus. If you owned the stone at the river bend it was only because the consensus of the community said you did. Yap stones were an analog precursor to the Bitcoin network. With physical stones at unique locations being the equivalent of Bitcoin addresses and oral traditions/stories being the human equivalent of the blockchain. Double spend was prevented because ownership transfer was a big deal and the new owner would make sure the community was aware. They weren't fungible or divisible however and it wouldn't scale beyond a community of trusted members but Bitcoin has more in common with Yap stones than any modern payment system.
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HeavyMetal
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August 25, 2012, 12:31:53 AM |
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Yap stones are very similar to Bitcoin. In Bitcoin we use terms like "sending coins" but the reality is you never send them to the recipients. You announce you are transfering ownership to the bitcoin community and miners make a lasting record of that announcement. Your wallet knows you have 123.456 BTC because it looks at all these "announcements" (transactions) and tallys them up.
Yap stones were never/rarely moved. Wealth was transferred by announcing it to the community. Ownership was determined by consensus. You had the stone at the river bend because the consensus of the community said you did. Yap stones were an analog precursor to the Bitcoin network. With oral traditions and stories being the human equivalent of the blockchain.
A very apt analogy. We always speak in terms of sending bitcoins, but the reality is that they never go anywhere. Rather authority over them is just assigned to another signer. As long as the village agrees that you own them then you can announce that you have given them to someone else.
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n8rwJeTt8TrrLKPa55eU
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August 25, 2012, 01:31:21 AM |
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You can buy original pre-O'Keefe Yap Stones, they come up for auction once every couple years, current price is around $20K (2000BTC) for the nicer ones. They are a scarce limited resource worldwide for primitive money collectors, because it is now forbidden to export any out of country. Most of the original exported ones were bought up for display by banks and museums. Just as a milestone was reached when 1BTC > 1USD, I predict that someday 1BTC will reach parity and exceed the market value of 1 Yap Stone http://stacksbowers.com/auctions/auctionlot.aspx?lotid=297409 http://coins.ha.com/c/item.zx?saleNo=3010&lotNo=21988![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fimages.ha.com%2Flf%3Fset%3Dpath%255B5%252F7%252F5%252F3%252F5753914%255D%252Csizedata%255B220x350%255D%26call%3Durl%255Bfile%253Aproduct.chain%255D&t=665&c=fYJkBHRUobTkkQ)
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giszmo
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WalletScrutiny.com
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August 25, 2012, 04:47:34 AM |
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I think it would require having $1M first.
Even when you have $1M it will be hard to buy bitcoins worth $1M as you would move the market and not know if it would settle much lower shortly later so your "coin" would not actually be worth $1M or if you ignite the next rally leaving you to ask if it was worth getting $1M in the first place. (Well, it would ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ) Think bigger. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) I say, think smaller! What if the $1M coin is about the size of a penny? The fact that $3M worth of gold can barely be transported by less than 3 guys with a custom trolley and 15 bodyguards can much better be put in contrast with a dime-sized coin worth the same than with a gold-coated bunch of iron/whatever. (Disclaimer: I distrust physical bitcoins as much as hosted wallets.)
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ɃɃWalletScrutiny.com | Is your wallet secure?(Methodology) WalletScrutiny checks if wallet builds are reproducible, a precondition for code audits to be of value. | ɃɃ |
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