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Author Topic: Selling Bitbills  (Read 1217 times)
ThisIsBTC
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March 21, 2013, 05:56:29 PM
 #1

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  Smiley
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Korbman
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March 21, 2013, 06:00:39 PM
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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

ThisIsBTC
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March 21, 2013, 06:02:35 PM
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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?
ThisIsBTC
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March 21, 2013, 08:34:37 PM
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Maybe I should be a bit clearer  Grin

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  Smiley
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March 21, 2013, 09:21:06 PM
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Maybe I should be a bit clearer  Grin

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  Smiley

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

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March 21, 2013, 09:32:02 PM
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Maybe I should be a bit clearer  Grin

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  Smiley

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

ThisIsBTC
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March 21, 2013, 09:40:20 PM
 #7

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?
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March 21, 2013, 09:44:36 PM
 #8

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.

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March 21, 2013, 09:52:12 PM
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Maybe I should be a bit clearer  Grin

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  Smiley

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 wash it off with a little water 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

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.

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March 21, 2013, 09:57:11 PM
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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.

ThisIsBTC
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March 21, 2013, 10:05:15 PM
 #11

"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!!  Roll Eyes
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March 21, 2013, 10:54:00 PM
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"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!!  Roll Eyes

basically

ThisIsBTC
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March 22, 2013, 01:24:07 PM
 #13

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!
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March 22, 2013, 02:53:01 PM
 #14

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.

ThisIsBTC
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March 22, 2013, 09:03:48 PM
 #15

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!  Grin

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?  Huh

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???!!!
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March 22, 2013, 10:06:11 PM
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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!  Grin

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?  Huh

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...

ThisIsBTC
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March 22, 2013, 10:12:45 PM
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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...
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June 07, 2013, 03:36:37 PM
 #18

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
Matthew N. Wright
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June 07, 2013, 03:39:30 PM
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Tangible bitcoins (coins, bills) with a hidden priv key are unsecure, 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.

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June 07, 2013, 03:41:45 PM
 #20

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

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