POLL-What is the definition of a Physical Bitcoin to you?

[krogothmanhattan]

Physical Bitcoin coin:  A coin representing Bitcoin with a paper wallet or any other device loaded with digital Bitcoin in it.
   This usually in most cases contains a security hologram covering the loaded paper wallet.

To me.....a coin with just a btc logo is not a Physical Bitcoin coin..it's a
token..in other words...cannot be used as a means of paying in Bitcoin or as a currency exchange using bitcoin.
A loaded coin can...ex...digital btc exchanged in person without going thru
blockchain. If coin is lost..so is the bitcoin. Unique in the history of coins.

So if an unloaded Bitcoin token has a holo with a loadable paperwallet and
is then loaded with digital bitcoin it will be thus be transformed in to a
Physical Bitcoin coin.
Example...an unloaded Casascius..would become a Physical Bitcoin coin once
loaded.

To me...the definition of a physical bitcoin coin is when a coin has digital btc loaded into
it..ex...Casascius.
     Physical Bitcoin card ..ex...Bitbills.

  Conversely , a Physical Bitcoin coin  peeled and swept will transform into a Bitcoin token.



    Please let me know your thoughts by voting on this. I am curious to find out how many think the same way I do.

[comit]

Absolutely agree with your view.

Me writing 1 BTC on a piece of paper doesn't make it a physical bitcoin. That would be fiat money.

[vizique]

IMO, A "Physical Bitcoin" is a physical object, usually a coin but can be something else that has a Bitcoin Private key attached, included, enclosed and hidden/concealed/protected using a security measure like a hologram or other such anti tamper device.

Coin, Notes, Picture/Artwork etc etc

The fact that it can be ANY object, not just a coin, makes the concept of Physical far broader IMO. Why be constrained with antiquated thinking and bind yourself to just a circular disc ?

Viz

[bill gator]

Calling a token, coin, artwork or toy a "Physical Bitcoin" without it having the capability to store Bitcoin would be a silly thing to do. I'm very close to agreement with your definition, but I think I would tweak it slightly. For example, your definition would mean that Kialaras are not Physical Bitcoins until they are loaded, and likewise that Casascius coins are no longer Physical Bitcoins once they are redeemed.

Maybe something more along the lines of what vizique is saying

My vote went to the "and loaded", but my contingencies are laid out in this post!

[Lesbian Cow]

Physical Bitcoin coin = loaded

Physical Bitcoin token = not loaded

makes it easy

I like this method.   To add, if produced by killyou72 =  "Koinz"

[krogothmanhattan]

Calling a token, coin, artwork or toy a "Physical Bitcoin" without it having the capability to store Bitcoin would be a silly thing to do. I'm very close to agreement with your definition, but I think I would tweak it slightly. For example, your definition would mean that Kialaras are not Physical Bitcoins until they are loaded, and likewise that Casascius coins are no longer Physical Bitcoins once they are redeemed.

Maybe something more along the lines of what vizique is saying

My vote went to the "and loaded", but my contingencies are laid out in this post!

  Once a Casascius coin has been peeled and redeemed it no longer contains any Digital Bitcoin, it thus transforms from a Physical Bitcoin into a Bitcoin token.

  Same goes for a Bitbills card,once peeled and redeemed, it no longer is a physical incarnation of Bitcoin  which is what its creators intended it to be.

  And I am thinking along the lines of monetary systems. An object with a wallet slapped on it makes it a loaded piece of art...for example.

  And yes, Kialara is not a physical Bitcoin until loaded.
  
  The votes tallied in here will be the definition of what I will place in my thread https://bitcointalk.org/index.php?topic=5134233.0

  It will be the Consensus of this collecting community that will decide.
  

[krogothmanhattan]

And yes, Kialara is not a physical Bitcoin until loaded.
  

So maybe we could come up with a good term that would define an item that has the potential to be a "Physical Bitcoin" but not yet loaded/assembled?

 Agree...perhaps a Bitcoin Wallet token ? Not sure if that sums it up...but everyone can have their say.

[krogothmanhattan]

A physical crypto coin you can hold in your hand or balance on your cock.

 You call that toothpick a cock?     

[FFrankie]

What is the difference between a physical bitcoin and a physical bitcoin coin? Or are they the same thing


To me a physical bitcoin is one you can hold and trade incase electric and internet are no more lol

[krogothmanhattan]

What is the difference between a physical bitcoin and a physical bitcoin coin? Or are they the same thing


To me a physical bitcoin is one you can hold and trade incase electric and internet are no more lol

 READ> https://bitcointalk.org/index.php?topic=5134233.0

And please vote

[bitcoiner24h]

There is no physical bitcoin or coins with physical bitcoin loaded. Neither works of art like kialara with physical bitcoin loaded.
Actually those coins or works of art loaded only have access to bitcoin you can never get the bitcoin out of the blockchain therefore what they have are access to the blockchain nothing else.

When we say that currency has 1 btc inside, NOT only has access to 1 bitcoin in the bitcoin blockchain.

Therefore the physical can only be loaded with access (privates keys) but we can never touch the bitcoin haha only Satoshi Nakamoto jajaj

[Ticked]

Loaded Physical Bitcoin - An item sold/acquired loaded with bitcoin.  Cas, BTCC, Lealana, CI, etc. ('Buyer funded' coins count)
Unloaded Physical Bitcoin - An item that was previously the above.   Any of the above coins pealed ('buyer funded' items, but not yet loaded falls here)
Collectible Bitcoin Token - Items sold without the direct ability to be loaded (No hologram /indentation to hide key) - i.e. Bitcoin Penny, 1 oz rounds, etc.
                                    -I add the word 'collectible' for clarity to denote we are not discussing some sort of digital token as there is tokenization galore

[krogothmanhattan]

Loaded Physical Bitcoin - An item sold/acquired loaded with bitcoin.  Cas, BTCC, Lealana, CI, etc. ('Buyer funded' coins count)
Unloaded Physical Bitcoin - An item that was previously the above.   Any of the above coins pealed ('buyer funded' items, but not yet loaded falls here)
Collectible Bitcoin Token - Items sold without the direct ability to be loaded (No hologram /indentation to hide key) - i.e. Bitcoin Penny, 1 oz rounds, etc.
                                    -I add the word 'collectible' for clarity to denote we are not discussing some sort of digital token as there is tokenization galore

  I like that...but I wouldn't use Loaded Physical Bitcoin as the word in itself describes that it is already loaded.

    As for unloaded Physical Bitcoin I like it but would prefer,  Swept or unloaded Bitcoin token as it no longer is a physical Bitcoin coin.

    These are off the top of my head as I am sure someone can nail a perfect name for this. But great names nonetheless. 

   

   

[dolphriends]

I am basically still a newbie at collecting but, from what I have seen describing the sale of a bitcoin, they were pre funded, buyer funded, DIY.,  peeled, funds stolen  I guess I had to learn the difference between redeemed and never funded.  To me it is a bitcoin if it can be funded, except for a few rare exceptions.  I do think it needs to be a physical coin of some sort.

[teeGUMES]

Members/companies have been the ones that have created what we call Physical Bitcoins but the definitions are quite literal and have been established for a long time.

Taken from Merriam-Webster Dictionary:

Physical:
a) having material existence : perceptible especially through the senses and subject to the laws of nature
b) of or relating to material things

ie. Something you can hold in your hand.

Bitcoin:
a) a digital currency created for use in peer-to-peer online transactions

Coin:
a) a usually flat piece of metal issued by governmental authority as money
b) metal money
c) something used as if it were money

Round:
Very general -- if anyone finds a more narrowed down definition pertaining to metal rounds let me know.
a) having every part of the surface or circumference equidistant from the center
b) a rounded or curved part



We aren't reinventing the wheel here, these definitions are the worldwide standard and are usually interpreted similarly no matter where you are in the world. Remember that just because your idea/example/opinion makes sense in your region it could possibly be taken as something different in a different part of the world. This is why we need to use the official terminology/definitions as they are.

From the above, a Physical Bitcoin is anything that you can hold in your hand consisting of any sort of material that also has a form of Bitcoin on it, mainly either a public/private key that relate to the Bitcoin blockchain.

A Physical Bitcoin Coin would then be something with metallic properties that is exchangeable/has value to other people. The only part that may be debatable here is whether or not you could compare/swap a coin creator/company in place of a governmental authority issuing the coins. Bitcoin continues to push the boundaries of the financial/technology world and governments are dragging their feet hoping it just goes away rather than adopt. The argument can be made that because bitcoin is worldwide and not government bound that we could overlook that part of the definition as in the future it could possibly change.

An interesting quote when searching for What is the difference between a coin and a round?:

"Coins are legal tender. They're authorized by governments and have a face value.
Rounds are simply coined pieces of metal minted by private manufacturers. They do not have any face value and are not legal tender."

Therefore the only debate we should be having is whether or not we can claim physical bitcoins such as Casascius/Denarium/BTCC/Lealana/etc can be talked about as coins or if we need to start referring to them as rounds.


Lastly we add other words to explain whether or not a physical bitcoin has actual bitcoin on it or not.
Loaded, Funded, Buyer Funded*, Unpeeled, Intact, Newly Minted all indicate that the coin/round has some sort of private key that has been included usually underneath a tamper proof hologram and is currently still intact and the bitcoin available.

Unloaded, Empty, Unfunded, Buyer Funded*, Peeled, Swept, Breached all indicate that the coin/round used to have bitcoin on it but that the private key/hologram have been exposed by the current/previous owner. In the case of a breach it means that the private key had been kept by the coin creator and effectively stolen/compromised.

*Buyer Funded coins have been shown to be on both sides of the chart as it is up to the owner/previous owners whether they decide to use the public/private key combo that was secured underneath the tamper proof hologram by the coin creator.


Edit to add definition of
Token:
a) a piece resembling a coin issued as money by some person or body other than a de jure government

I would say that all our physical bitcoins could be classified as tokens. We use "coin" and "round" to explain shape as it is more common in our everyday lives to say something round and metal is a coin. Definition wise I think token is what should actually be being used but I don't personally think it sounds as professional/desired as the word coin.

[dolphriends]

Members/companies have been the ones that have created what we call Physical Bitcoins but the definitions are quite literal and have been established for a long time.

Taken from Merriam-Webster Dictionary:

Physical:
a) having material existence : perceptible especially through the senses and subject to the laws of nature
b) of or relating to material things

ie. Something you can hold in your hand.

Bitcoin:
a) a digital currency created for use in peer-to-peer online transactions

Coin:
a) a usually flat piece of metal issued by governmental authority as money
b) metal money
c) something used as if it were money

Round:
Very general -- if anyone finds a more narrowed down definition pertaining to metal rounds let me know.
a) having every part of the surface or circumference equidistant from the center
b) a rounded or curved part



We aren't reinventing the wheel here, these definitions are the worldwide standard and are usually interpreted similarly no matter where you are in the world. Remember that just because your idea/example/opinion makes sense in your region it could possibly be taken as something different in a different part of the world. This is why we need to use the official terminology/definitions as they are.

From the above, a Physical Bitcoin is anything that you can hold in your hand consisting of any sort of material that also has a form of Bitcoin on it, mainly either a public/private key that relate to the Bitcoin blockchain.

A Physical Bitcoin Coin would then be something with metallic properties that is exchangeable/has value to other people. The only part that may be debatable here is whether or not you could compare/swap a coin creator/company in place of a governmental authority issuing the coins. Bitcoin continues to push the boundaries of the financial/technology world and governments are dragging their feet hoping it just goes away rather than adopt. The argument can be made that because bitcoin is worldwide and not government bound that we could overlook that part of the definition as in the future it could possibly change.

An interesting quote when searching for What is the difference between a coin and a round?:

"Coins are legal tender. They're authorized by governments and have a face value.
Rounds are simply coined pieces of metal minted by private manufacturers. They do not have any face value and are not legal tender."

Therefore the only debate we should be having is whether or not we can claim physical bitcoins such as Casascius/Denarium/BTCC/Lealana/etc can be talked about as coins or if we need to start referring to them as rounds.


Lastly we add other words to explain whether or not a physical bitcoin has actual bitcoin on it or not.
Loaded, Funded, Buyer Funded*, Unpeeled, Intact, Newly Minted all indicate that the coin/round has some sort of private key that has been included usually underneath a tamper proof hologram and is currently still intact and the bitcoin available.

Unloaded, Empty, Unfunded, Buyer Funded*, Peeled, Swept, Breached all indicate that the coin/round used to have bitcoin on it but that the private key/hologram have been exposed by the current/previous owner. In the case of a breach it means that the private key had been kept by the coin creator and effectively stolen/compromised.

*Buyer Funded coins have been shown to be on both sides of the chart as it is up to the owner/previous owners whether they decide to use the public/private key combo that was secured underneath the tamper proof hologram by the coin creator.


Edit to add definition of
Token:
a) a piece resembling a coin issued as money by some person or body other than a de jure government

I would say that all our physical bitcoins could be classified as tokens. We use "coin" and "round" to explain shape as it is more common in our everyday lives to say something round and metal is a coin. Definition wise I think token is what should actually be being used but I don't personally think it sounds as professional/desired as the word coin.

Agree, thanks teeGUMES

[krogothmanhattan]

We aren't reinventing the wheel here, these definitions are the worldwide standard and are usually interpreted similarly no matter where you are in the world. Remember that just because your idea/example/opinion makes sense in your region it could possibly be taken as something different in a different part of the world. This is why we need to use the official terminology/definitions as they are.

From the above, a Physical Bitcoin is anything that you can hold in your hand consisting of any sort of material that also has a form of Bitcoin on it, mainly either a public/private key that relate to the Bitcoin blockchain.

A Physical Bitcoin Coin would then be something with metallic properties that is exchangeable/has value to other people. The only part that may be debatable here is whether or not you could compare/swap a coin creator/company in place of a governmental authority issuing the coins. Bitcoin continues to push the boundaries of the financial/technology world and governments are dragging their feet hoping it just goes away rather than adopt. The argument can be made that because bitcoin is worldwide and not government bound that we could overlook that part of the definition as in the future it could possibly change.

An interesting quote when searching for What is the difference between a coin and a round?:

"Coins are legal tender. They're authorized by governments and have a face value.
Rounds are simply coined pieces of metal minted by private manufacturers. They do not have any face value and are not legal tender."

Therefore the only debate we should be having is whether or not we can claim physical bitcoins such as Casascius/Denarium/BTCC/Lealana/etc can be talked about as coins or if we need to start referring to them as rounds.


Lastly we add other words to explain whether or not a physical bitcoin has actual bitcoin on it or not.
Loaded, Funded, Buyer Funded*, Unpeeled, Intact, Newly Minted all indicate that the coin/round has some sort of private key that has been included usually underneath a tamper proof hologram and is currently still intact and the bitcoin available.

Unloaded, Empty, Unfunded, Buyer Funded*, Peeled, Swept, Breached all indicate that the coin/round used to have bitcoin on it but that the private key/hologram have been exposed by the current/previous owner. In the case of a breach it means that the private key had been kept by the coin creator and effectively stolen/compromised.

*Buyer Funded coins have been shown to be on both sides of the chart as it is up to the owner/previous owners whether they decide to use the public/private key combo that was secured underneath the tamper proof hologram by the coin creator.


Edit to add definition of
Token:
a) a piece resembling a coin issued as money by some person or body other than a de jure government

I would say that all our physical bitcoins could be classified as tokens. We use "coin" and "round" to explain shape as it is more common in our everyday lives to say something round and metal is a coin. Definition wise I think token is what should actually be being used but I don't personally think it sounds as professional/desired as the word coin.

   Highly esteemed TeeGumes!...only from a well established collector veteran like you. Thankyou.

   Your input is always welcome indeed.
 
   While I am not trying to reinvent the wheel, I am trying to find how others perceive  a physical Bitcoin.

   Thru my many years as a collector on this forum and outside I have seen the word Physical Bitcoin used to broadly.

    I can understand it coming from people outside of this forum as some are not properly educated in what makes a physical Bitcoin a Physical Bitcoin.

    You would be surprised how many colletors use the word for anything with a BTC logo on it, loaded or not.

    And no I will still refer to them as coins if loaded with digital BTC, without it I would call them tokens.

    So again all feedback is welcome....please keep em coming! Consensus has to be reached so please put in your vote! 

   


 

[wheelz1200]

Honestly I wing the term physical crypto around a lot and it includes any DIY coins as well.  I think we can sub label to people who know what the hell we are even talking about but to people that dont I just reference the coin/note/ etc as a physical crypto product if it is loaded/assembled but not loaded/ or it can be assembled by someone.

Yes not any piece of paper with a 1BTC on it would represent a physical crypto product but if someone asks me what one of my peeled cas coins are I simply say a physical crypto coin.  Right or wrong that's my terminology of them

[OgNasty]

And yes, Kialara is not a physical Bitcoin until loaded.

So maybe we could come up with a good term that would define an item that has the potential to be a "Physical Bitcoin" but not yet loaded/assembled?

Agree...perhaps a Bitcoin Wallet token ? Not sure if that sums it up...but everyone can have their say.

No need to add the word token.  Any private key is a wallet, if it's outside of the digital realm it is a physical wallet.  A physical Bitcoin would be any physical wallet loaded with a Bitcoin.  I didn't realize this was a debatable topic.

[roosbit]

Any token or coin with a Bitcoin Logo on it

Being bitcoin branded does not make it a physical bitcoin this might be just some crypto merchandise or crypto memorabilia

Any token or coin with a Bitcoin Logo AND LOADED with Digital Bitcoin

This definition comes close to defining a physical bitcoin but I think it kind of defines a wallet...like a paper wallet, but in this case this could be called a coin wallet too.

Credit to https://bitcoinpaperwallet.com/