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Author Topic: Introducing Bitbills!  (Read 28906 times)
MrGaSp
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May 22, 2011, 12:30:46 AM
 #121

Love the looks of them. I'd buy some if i knew i would actually have a use for them.  Maybe you should put up a version archive so people can look up what the past versions looked like?  I would also love to see more images of them =D

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Clipse
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May 22, 2011, 01:58:19 AM
 #122

Pretty neat if you want to store Bitcoins like bitgoldbars Wink

I am going to be getting me sum and stash in safe as if Im a gold smuggler Smiley

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May 22, 2011, 02:38:25 AM
 #123

Some of my friends don't believe in bitcoin because they think it is not suitable for ordinary payments.
This project is a prove that it is feasible.
The bills will have to be improved in security from time to time as the counterfeiting and tampering technology improves, but that happens with national currencies too. In this case, competition is possible so the end user will pay less for that service.
Congratulations for llama, but also to Atlas and BCEmporium because (although they weren't right in the security measures) they saw the feasibility of printed bitcoin.
Trading with printed bitcoins needs I trusted third party, but is a revolutionary idea. Bitbills is a new currency backed with bitcoins and open to competition.
New hopes for the future monetary system.
Maybe buying silver was not that necessary as an insurance. I won't sell my 2 kg anyway, just in case someone drops a rainbow bomb.
My next saving purchase could be bitcoin or bitbills, I'm just too affected after selling my only 230 btc on an average price of 80 cents just before the run to 8 dollars. One thing I've learned: I'm not good as a speculator. Next time I buy bitcoins I will keep for the "save" long run instead of trying to make profit of short term arbitrage.
It is easier to hoard bitbills than bitcoins. That's one of the reasons (not the main one) I prefer silver to euros for saving. Euros are so easy to spend...
I'm still in love with the idea of sending bitcoins to one of your bitbills. I will probably put a mark on that one.
By the way, that printed piggy bank could be developed with free software with no third parties involved. Not suitable for trade like BTB, but interesting.

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
BitterTea
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May 22, 2011, 03:59:18 AM
 #124

I spent my first Bitbill last night. I went to see Thor (meh) with another voluntaryist friend of mine, and he paid for popcorn and drinks, so I paid him back with a 1 BTC Bitbill. He's been thinking about dipping his toes in the shallow end of the bitcoin pool for a while, so I figured it would be a good opportunity.
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May 22, 2011, 12:03:11 PM
 #125

awesome project.
 
"in cryptography we trust"  Wink

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koin
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May 22, 2011, 05:13:57 PM
 #126

according to the site a patched version of the client is needed currently in order to spend a bit bill.

it says an easy importer is coming but until then is there anyone who will accept the qr code and send bitcoins as a service?

even for a small fee?

this would have worked perfectly at a corporate event i attended where they handed out awards.  these are sales people so saying go patch the client won't work.
thefiatfreezone
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May 22, 2011, 11:14:33 PM
 #127

trusting a third party .. just like a central bank ..

your all whacked in the heads.

Edit:
 - third party trust to create legit ones ... NO WAY
 - wallet backup ... third party trust ... NO WAY
 - a card is easy to be ripped of, confiscated by parasites, destroyed, etc, ... NO WAY

Bitcoin is meant to get rid of ALL these issues ... why on Earth would you want this?
BitterTea
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May 22, 2011, 11:39:50 PM
 #128

trusting a third party .. just like a central bank ..

your all whacked in the heads.

Edit:
 - third party trust to create legit ones ... NO WAY
 - wallet backup ... third party trust ... NO WAY
 - a card is easy to be ripped of, confiscated by parasites, destroyed, etc, ... NO WAY

Bitcoin is meant to get rid of ALL these issues ... why on Earth would you want this?

No, Bitcoin was created so that you don't have to trust a third party if you don't want to. For something like this, it's cool enough that I have enough trust in llama to risk a few bitcoin. I keep the majority of my keys in my wallet, on my hard drive, encrypted and backed up.
legkodymov
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May 22, 2011, 11:45:29 PM
 #129

You can buy those hologram stickers on Ebay easily, read private key and reseal it.

you've tried this yourself?

I don't want bitbills project die before emerging, so I will not show this item on ebay.
I decided to print something similar like bitbills in my country in native language, but came up with idea that printed bitcoins is utopia. Untill law protect bitbills, they are very fragile and easy to conterfeit. Currencies are protected by law, but if you counterfeit bitbills no one will punish you. Feel this difference!

Act responsibly!!!

jtimon
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May 23, 2011, 06:45:58 AM
 #130

trusting a third party .. just like a central bank ..

With the difference that you can start your own business for bitcoin bills and a central bank is a monopoly.

You can buy those hologram stickers on Ebay easily, read private key and reseal it.

You have to "destroy" the card to get to the private key, not just taking out the hologram.

Untill law protect bitbills, they are very fragile and easy to conterfeit. Currencies are protected by law, but if you counterfeit bitbills no one will punish you.

Do you think bitbills should be protected by law? Why?

2 different forms of free-money: Freicoin (free of basic interest because it's perishable), Mutual credit (no interest because it's abundant)
legkodymov
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May 24, 2011, 02:51:26 PM
 #131

You have to "destroy" the card to get to the private key, not just taking out the hologram.

Please, describe in details what do you mean by "destroying".

charlie
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May 24, 2011, 02:57:22 PM
 #132

Cool, what would be truly awesome would be a debit card type thing where you can put it into a ATM and its like your wallet and you can take out USD and the compny makes profit by taking like 10 cents or 0.05 BTC Cheesy

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BitterTea
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May 24, 2011, 03:03:25 PM
 #133

You have to "destroy" the card to get to the private key, not just taking out the hologram.

Please, describe in details what do you mean by "destroying".

The private key is sandwiched between layers of the card. To get it out you have to cut the card open.
Hawkix
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May 24, 2011, 03:36:30 PM
 #134

Please, somebody post a photo of "opened" card. Once you've "spent" that money in it, of course.

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BitterTea
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May 24, 2011, 03:49:53 PM
 #135

Hawkix, if someone doesn't post one before tonight, I'll try to do so. First I must spend the associated bitcoins, which isn't exactly simple right now.

llama, have you considered that it's not even necessary to import the private key, merely create a transaction from it? I think an Android app that performed the following two functions is all that is necessary to use Bitbills.

1) scan a public key and check the balance
2) scan a private key and create a transaction to an address of your choosing (scan private key, scan barcode of receiving address, send?)
BitterTea
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May 24, 2011, 08:07:12 PM
 #136

Ok, here's the opened Bitbill (click for full size):



The plastic lamination is pretty thick, not just a thin film. Underneath that is the private key barcode with the hologram sticker stuck to it. Peeling off the hologram left half of it on the barcode which required some rubbing alcohol to remove.
SgtSpike
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May 24, 2011, 08:10:18 PM
 #137

Ok, here's the opened Bitbill (click for full size):



The plastic lamination is pretty thick, not just a thin film. Underneath that is the private key barcode with the hologram sticker stuck to it. Peeling off the hologram left half of it on the barcode which required some rubbing alcohol to remove.
*scans PK from picture*
*steals BitterTea's bitcoins*
BitterTea
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May 24, 2011, 08:14:06 PM
 #138

*scans PK from picture*
*steals BitterTea's bitcoins*

Haha, nice try but I already sent the coins to a new address using BitcoinJ. Smiley
BCEmporium
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May 24, 2011, 08:15:18 PM
 #139

*scans PK from picture*
*steals BitterTea's bitcoins*

Don't know why but I truly believe bittertea is a bit too experienced to leave that QR there unless already void...
kgo
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May 24, 2011, 08:39:47 PM
 #140

*scans PK from picture*
*steals BitterTea's bitcoins*

Haha, nice try but I already sent the coins to a new address using BitcoinJ. Smiley

Can you describe how you did this?  I was going to test one of my bitbills with the patched bitcoin client.  But if it's easier just to use bitcoinJ, I'd like to hear how.
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