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Author Topic: [INFO] ALL ABOUT BITBILLS  (Read 368 times)
krogothmanhattan
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April 16, 2018, 10:39:03 PM
Merited by TMAN (9), ezeminer (7), minerjones (5), vizique (5), Lesbian Cow (5), Lutpin (5), BG4 (5), Zepher (5), ChiBitCTy (3), wheelz1200 (1), hybridsole (1), mortare (1), Josh (1)
 #1

BITBILLS


      So very little information is available to the public at large about these very rare and important part of Bitcoin history. I am willing to share here all the knowledge I have been able to accrue from my hunt for these very rare items. For the lucky few who have these and for the many that are still hunting, I hope this helps everyone in the understanding of Bitbills. They were made before Casascius and the very first physical representation of Bitcoin.

  On the 9th May 2011 a new concept was introduced to the world of Bitcoin. BitBills was the very first incarnation of Bitcoin in a physical form. This was sold to the public in the form of a credit sized card loaded with Bitcoin. As of May 15, 2012, Bitbills were no longer in production.
  
  A public key was visible to check on blockchain the amount of Bitcoin inside the card. The private key was hidden behind a hologram, only to be exposed when ready to sweep the Bitcoin out.

    


  
From a post by Charlie Lee in 2013  https://bitcointalk.org/index.php?topic=199785.0

 
How rare BitBills are:

20BTC: 181 (132 intact)
10BTC: 143 (97 intact)
5BTC: 144 (107 intact)
1BTC: 589 (492 intact)

  Who knows where we stand today and how many were redeemed when Bitcoin hit 20k last year!

  As per manufacturer...

  
  A Bitbill is a plastic card that holds the cryptographic key that will allow the face value amount of the card to be spent. The key is on a QR code embedded within the card such that it cannot be read without the card showing evidence of tampering. Additionally, the card has a hologram affixed to ensure that the card is not a counterfeit.


The intention is that the card will be left unopened and then can be treated as money by being acceptable at face value when making a transaction in-person at a retailer, for example. At any time, the card can be opened and the funds spent through the Bitcoin payment network. Once the card has been opened it will no longer be acceptable as payment anywhere else due to the fact that its private key has already been revealed.
At the time this article was created, the ability to spend a Bitbill required that a patch to the Bitcoin software be in place.
The cards come in denominations of 1 BTC, 5 BTC, 10 BTC and 20 BTC. Orders for the cards are accepted online and the only form of payment is Bitcoin.

I've grouped the security concerns into three classes: Counterfeiting, tampering, and source-trust.

Source-trust means that you have to trust me, and I haven't thought of a good way around that. I promise that I put the bitcoins on the cards, delete the private keys, and use a secured manufacturing process. My hope is that as people begin buying, using, and redeeming Bitbills, they will form a trusting relationship with me the same way you might have a trusting relationship with MtGox and other companies.

Counterfeiting is the problem of others copying our cards and passing them off as real (presumably without even including the private key). Our cards are fundamentally hard to manufacture. When handling Bitbills, always check that the design matches the one shown on our website to make sure it's an authentic card. We use holograms that are very difficult to replicate. As our business grows, we plan to implement more and more security features.

Tampering is the problem of people extracting the private key without it being visible. We put the private key actually inside of the layers of plastic, so it's not just a simple matter of carefully peeling off a sticker or anything. The hologram is directly on top of the private key, also within the plastic. Even if it is somehow covertly extracted (once you see one of these, you'll see just how impossible that seems), the hologram destructs when removed.

We're working hard to make sure Bitbills are as sound as bitcoins themselves (if not better, since they clear instantly). But remember, like all the best stuff, they are BETA



BITBILLS METAL BANK CARDS





  Out of all the Bitbills ever made, the metal Bitbills bank cards and payee cards were the rarest as less than 20 were ever sold before the company closed down and that I have from an official source. How many pairs were made out of these, who really knows and how may survived is anyone's guess.

    BitBills Bank Cards were aluminum cards, engraved with the public and private keys. Two cards come in a set: a 'payee card,' which includes the public key only, both in human-readable Base 58 and QR code formats; and a 'bank card,' which includes the private key in QR, as well as the public and private keys in human-readable Base 58 format.”

    
BITBILLS BANK CARDS
               Bank cards are like piggy banks for bitcoins. Load it with your bitcoins, put it in a safe place and your money is securely locked away until you choose to redeem it. Redemption is as simpe as scanning in the bank cards QR code, which encodes the private key

    
BITBILLS PAYEE CARDS
               
                Payee cards are durable metal cards which display a bitcoin address, making it easy to accept payment. They include a URI encoded QR-code of the bitcoin address which makes it easy for you to accept payments from smartphone users. Payee cards can be purchased tied to a bank card or for an address you already use.









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dolphriends
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April 16, 2018, 10:43:12 PM
 #2

Very informative, thanks Krog
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April 16, 2018, 11:45:03 PM
 #3

I learned this when breezing through the book on your site.  I must say, very well done, it's incredibly informative &  constantly growing in comprehensive prowess.
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April 16, 2018, 11:52:38 PM
 #4

  Thankyou very much both..appreciate that.

   I listed most of my information here as many have not visited or taken the time to go thru the site.

  There is more but I think what I have listed here is enough for the person looking to seek information on these rarities.

    They are my most prized physical bitcoins out of my entire collection. I consider them the holy grail of crypto physicals.

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minerjones
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April 17, 2018, 11:40:18 AM
 #5

Thanks for this thread krogy. Cheesy

Will add a link to the maker's thread.

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krogothmanhattan
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April 18, 2018, 10:38:15 AM
 #6

Thanks for this thread krogy. Cheesy

Will add a link to the maker's thread.

Thankyou MJ. It will be a good reference for sure  Cheesy

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April 18, 2018, 03:04:52 PM
 #7

Krog thanks for this, ive always looked in scattered places for information.  I too consider these one of the mecca pieces as they were the first of its kind.  Kind of hard collecting them now but if it were too easy than we'd all have them and bitcoin wouldnt be where it is now, saving this thread for future reference thanks.

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April 18, 2018, 11:41:48 PM
 #8

This is awesome, good work Krog.

Author of Encyclopedia of Physical Bitcoins and Crypto-Currencies. View free sample and Buy the book at https://coinfirm.org/
COINS: BUYERS & SELLERS & RE-SELLERS: CoinFIRM Crypto-Brokers handles it all https://bitcointalk.org/index.php?topic=1835091.0
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April 19, 2018, 05:13:38 AM
 #9

Krog thanks for this, ive always looked in scattered places for information.  I too consider these one of the mecca pieces as they were the first of its kind.  Kind of hard collecting them now but if it were too easy than we'd all have them and bitcoin wouldnt be where it is now, saving this thread for future reference thanks.

No kidding and agreed. I want a B.B. new or used very badly! This is just one cool piece of Krogo’s super encyclopedia though (his website)
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April 19, 2018, 05:34:24 AM
 #10

that's really cool thread kroga, now i need these even more

am sure you have a nice collection of these as well Cheesy
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April 29, 2018, 09:32:47 AM
Merited by TMAN (5)
 #11

Physical Bitcoins CREED

- In the beginning Satoshi created Bitcoin….
-
- Now the Bitcoin was formless and empty, Ignorance Fear Uncertainty and Doubt existed on amongst the people as they could not comprehend what was Bitcoin.
-
- So Satoshi declared…we shall make man see and feel the bitcoin so he or she can have a better understanding. * -

- He thus created an idea, so revolutionary in concept that he blessed a man to carry out his blessing to man.
-
- Thus said Satoshi “ I will bless man with knowledge of how to transform a digital coin into a physical coin

- Thus one morning a man awoke up with an idea given to him by the Spirit of the almighty Satoshi..

- “Perhaps a physical bitcoin will make the masses believe, understand and love Bitcoin as have I”
-

- He knelt and prayed and thanked the almighty Satoshi for the revelation.
-
- He went to work at once and thus my children the idea of a physical bitcoin was born
-
- Satoshi's son Bitcoin came to us as a reincarnation of a physical being in the form of a card.
-
- And they named him Bitbills.

   He is here to save manskinds economy from the evil bankers greed.

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May 01, 2018, 07:23:02 PM
Merited by Lesbian Cow (3), krogothmanhattan (1)
 #12


Here is some info about the 5 BTC BitBill.

I cannot verify the initial count of 144, but let's assume it's close.

This figure was provided by Charlie Lee himself back in a much older forum post when he sold off his collection of Casc and BitBills. I failed to properly quote it in my prior auctions. But, it's safe to assume he would have used blockchain transactions to figure it out.

https://bitcointalk.org/index.php?topic=199785.0

I also figured out how rare BitBills are:
20BTC: 181 (132 intact)
10BTC: 143 (97 intact)
5BTC: 144 (107 intact)
1BTC: 589 (492 intact)



This 1 transaction starting from an even 1000 BTC funded most or all of the 5 BTC bitbills. Perhaps a 1st or 2nd smaller batch is out there too.

https://blockexplorer.com/tx/9f9c271886e860898ca3781b21e20b734fda44c2c5e712bb936da61ca56bfe91

As of May 1, 2018, there are 50 Unspent, and 76 spent outputs. The total count of 5 BTC outputs is 126 on the above transaction, which is pretty close to the 144 presumed in existence.

From this then it's safe to assume that there are probably at least 50 left intact, and probably not more than 68 of the 144 presumed to exist.

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May 02, 2018, 12:10:51 AM
 #13

Josh...Thankyou so much.
 
              That clarifies alot about where those numbers came from.

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May 03, 2018, 12:32:11 AM
 #14

Can someone post some photos of bitbills in the wild? Feel free to take photos of your bitbills next to your lambos, islands, etc.  I am sure there is someone here that will show off? Cool Huh

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Amanda_BTC
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May 05, 2018, 07:38:52 PM
 #15

Is an auction of BitBills planned soon?
krogothmanhattan
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May 05, 2018, 09:17:33 PM
 #16

Is an auction of BitBills planned soon?

There are no auctions planned from my collection.

I cannot speak for others. Its been well over a year since I have seen a Bitbills auction in this forum or anywhere else for that matter.

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