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Author Topic: is it possible to mint Bitcoin ?  (Read 1281 times)
takingthis4
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August 29, 2016, 12:58:04 PM
 #21

Someone could hand you a coin with the words "One BitCoin" written on it, but unless you had access to the block chain to verify that the Wallet Address did indeed have BTC 1.0 in it, then you would have to really trust the person offering you the coin.

If you had access to online, then why the need for a coin?  So that it can jingle in your pocket?

At least with printing a Paper Wallet you have a QR code you can scan and verify the contents of the Wallet.
you are right it is actually possible to mint bitcoins though there is a possibility that no one will be accepting it because of lack of knowledge
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September 01, 2016, 10:35:03 PM
 #22

Someone could hand you a coin with the words "One BitCoin" written on it, but unless you had access to the block chain to verify that the Wallet Address did indeed have BTC 1.0 in it, then you would have to really trust the person offering you the coin.

If you had access to online, then why the need for a coin?  So that it can jingle in your pocket?

At least with printing a Paper Wallet you have a QR code you can scan and verify the contents of the Wallet.
you are right it is actually possible to mint bitcoins though there is a possibility that no one will be accepting it because of lack of knowledge

There are already sellers of physical BitCoins and they are always asked "Have the coins been redeemed?" or at the very least, they state whether or not they have been (redeemed already)

Given how many people have already made gold/silver/copper coins and bullion bars, which one do you accept?
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September 01, 2016, 10:40:00 PM
 #23

is it possible to mint  physical Bitcoin  and use it for purchases in countries like USA,UK,Canada and Europe ?
There are some physical Bitcoin wallets that exist that are made in the shape of a coin and look like they're "minted" from some place, however most of them can't be used in their basic form for purchases because no-one will accept those, even if they accept Bitcoin in the same location. Most of the time the amount stored on the coin is too much to even really be useful for buying anything.
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September 01, 2016, 11:08:29 PM
 #24

Quote
is it possible to mint  physical Bitcoin
* Yes, there are already some in the market. Here are some examples (there are other kinds):
    
     
  
   Alitin Mint : Adam Smith 2.92 BTC, Joan of Arc 1.45 BTC
   Titan One Gold : $2,279
   Cryptmint       :  $99
   Antana           : 0.02 BTC to 0.04 BTC

Quote
use it for purchases in countries like USA,UK,Canada and Europe ?
* Using the minted coin to purchase items? No. (At least for now?) It's mainly for collectors and die-hard enthusiasts.
 * Printing a paper wallet can be used for payments in select stores. (Hopefully more stores in the future)


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dearbesz1219
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September 02, 2016, 03:45:50 AM
 #25

is it possible to mint  physical Bitcoin  and use it for purchases in countries like USA,UK,Canada and Europe ?

Absolutely yes! bitcoin is possible to be mint  aside from we know its a digital currency/virtual money, but it will be very difficult to do it because now the price value is too high.

                                 
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September 02, 2016, 03:55:32 AM
 #26

No, there's no way to do this yet, and any one who has tried to mint physical currency backed by Bitcoin has been met with a knock at the door.

Stick to the digital world - except for the hardware you use to keep your Bitcoins in cold storage.

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September 02, 2016, 08:47:46 AM
 #27

to transact physical bitcoin like selling with physical bitcoin  some one has to accept it first , i believe that is not very easy , in case of digital transactions it is very easy and world wide many internet sites are accepting bitcoins ,Digital way is very easier than the physically transacting with bitcoin.

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September 02, 2016, 09:13:59 AM
 #28

It is possible but I think that it never will be used for purchases because transactions with physical bitcoins would not have the advantages that virtual transactions have like global accessibility, faceless deals between people from different sides of the world under minutes and so on.


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September 02, 2016, 09:21:06 AM
 #29

at least for me it is not. you can mint physical bitcoins. but you can't buy things with them.
but you can sell them. I saw lots of phsycial biticoin being sold here and coin collector buying them for good rates.. this is the only benefit I know of a phsycial bitcoin.

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September 02, 2016, 11:51:18 AM
 #30

is it possible to mint  physical Bitcoin  and use it for purchases in countries like USA,UK,Canada and Europe ?

Theoretically it is possible.Practically i don`t think that any merchant will accept this.

This is an  important part of bitcoin growth and mass adoption.

I hope that sooner or later this will happen.

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September 02, 2016, 11:54:17 AM
 #31

at least for me it is not. you can mint physical bitcoins. but you can't buy things with them.
but you can sell them. I saw lots of phsycial biticoin being sold here and coin collector buying them for good rates.. this is the only benefit I know of a phsycial bitcoin.

There are indeed people who sell bitcoin physical form, but I think it's not something either in the growth of the bitcoin, as in the physical form of the bitcoin has no value added or not can be used. Better advertise bitcoin into online stores or introduce it on big companies so that they can adopt the bitcoin

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Shiroslullaby
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September 02, 2016, 11:59:11 AM
 #32

I don't think anyone would accept a physical bitcoin because its just a form of a paper wallet.  
You still have to perform a transaction and wait for confirmation.  
Its basically a novelty way to have offline cold storage. 

And most of them are collectors items that cost way more than the amount of BTC loaded on them. 
It would be cool for someone to set up another run of coins and keep the price low.

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September 02, 2016, 12:38:38 PM
 #33

It is possible of course.  But that will goes with a lot of debate and studies and legal actions with the government.  And do not forget if the creator of bitcoin will allow that to happen.  Also the investors of bitcoins as it will definitely change the way it was created.  Creating it physically will having a fear effect to the holders as it will be and can be stolen from you. 
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September 02, 2016, 12:41:42 PM
 #34

is it possible to mint  physical Bitcoin  and use it for purchases in countries like USA,UK,Canada and Europe ?
What is your point here? Do you mean Mint is Market where you can use your bitcoin as a payment method so that you can shop on groceries stores? some countries now are accepting bitcoin as a payment on their shops and some online store are also accepting bitcoins you can search for it.

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September 02, 2016, 01:42:51 PM
 #35

is it possible to mint  physical Bitcoin  and use it for purchases in countries like USA,UK,Canada and Europe ?
You can't use the minted coins physically if that's what your are talking about, since it would just be more practical to scan the private key or send it to a new address.. There are many physical coins as souvenirs and for safe-keeping the BTC's though, Not any practical use to it now though.
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September 02, 2016, 01:48:14 PM
 #36

is it possible to mint  physical Bitcoin  and use it for purchases in countries like USA,UK,Canada and Europe ?
Mint what ? haha be specific mate because if you are trying to say that you can use your bitcoin in some supermarket where you gonna buy some items or staff that you can pay with bitcoin i think in USA it possible because it is populated country which is there a lot of people who using bitcoin as there currencies

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