Partially redeeming a Casascius physical bitcoin - help request
Overview of problem I have a Casascius physical bitcoin and I am unable to add its digital contents to a wallet. It seems that the key is not the right length or format. I started to get out of my depth with talk of things like a Minikey format. I removed the hologram when I was given it years ago as I was curious what was under there. I don't want to sell it instead I want to add its 1 BTC value to a wallet so I can partially redeem it and keep the physical brass as a collectible. What I have observed and tried (apologies in advance for butchering terms) I've searched several sites, including here and haven't been able to find a current answer for the new style of keys and wallets. I put the seven character code from the hologram into the casascius.uberbills dot com site and it gives me a 33 character key, tells me it's version 2 and confirms that it has a 1 BTC value I've tried to import it into a Blockchain wallet but get the error "this private key does not match the watch only address above" when I enter the private key under the hologram. For some reason it seems like a different public address is generated when I enter the 33 char code. I tried to import it into a Jaxx Liberty wallet but it doesn't recognise the minikey or 33 char code as valid. I've basically run up against my level of knowledge and don't know what the next steps are of if I'm missing something bleeding obvious. I double and triple checked any data entry because I saw this was a common problem. I'd really appreciate any help or pointers the community can give me. Thanks Edit: Solution I followed the advice given by u/murbul in reply to my post
You might struggle to find a wallet that natively supports MINI keys these days since it's an old format that never really took off apart from Casascius coins. So your best bet is to use a tool to convert it to a real private key (starting with 5) and import/sweep that into a wallet. You can convert it on the Wallet Details tab of https://www.bitaddress.org/ - For 1 BTC I'd be paranoid enough to recommend downloading the source and doing everything offline: https://github.com/pointbiz/bitaddress.org
I used the site and one of the keys generated was one starting with '5' (Private Key WIF). I used this in Jaxx Liberty in the 'Paper Wallet Import' function under tools and it came right across. I’m very happy.
Sorry if this is in the wrong place. I have a few coins and other things I've collected over the years and just wondering if it was worth anything, I can't find much information on the Web. Pictured: 2x 2012 1BTC Casascius coins 1x 2013 1BTC Casascius coin 2x 2013 0.5BTC Casascius coins 1x 2012 5BTC Casascius coin (all of the above were redeemed this year, unfortunately) 1x Satori 0.001 Post fork coin (funded) 1x 2nd edition Bitcoin Magazine 2012 Not pictured: 2x Satori 0.001 Prefork (funded) 1x Lealana 2018 5LTC coin (funded) 1x BTCC Mint 1K Bits Chip (funded) Picture of some of collection
A physical bitcoin (BTC) is selling on eBay for $99,000, a listing on July 1 shows. The seller claims the “collector’s must have” is a Casascius brass token that was created in 2011. According to the listing, the physical coin is loaded with one BTC that has not been redeemed, and all of the seals remain intact. Payment can be made in crypto or cash, and the seller says they will also consider trading it for real estate. However, the listing adds that “Cars and boats = no.” The seller says they made the purchase back in 2012 and have kept it in their safe since then, adding: “Only a few hundred remains in the ENTIRE world.” https://cointelegraph.com/news/this-rare-physical-bitcoin-can-be-yours-for-99-000
12-09 16:44 - 'Casascius Physical Bitcoin 5btc Coin, Version 1, 2012 ‘Error Bitnickel' (self.Bitcoin) by /u/Putin42 removed from /r/Bitcoin within 2-12min
''' 1xCasascius 5 BTC Physical Bitcoin Coin Wallet, 2012 Issue -No actual BTC value loaded, has been previously redeemed. Hologram has beenremoved. Can be reloaded with BTC and is a great way to keep your digital investment physically safe. ~1.125in (28 mm) in diameter, weight 0.24oz (6.8g), about the size of a US quarter This is the 'true' Bitnickel featuring a silver (or nickel) tone hologram. The only nickel Casascius, and has a rare issue with green color firstbits. Manufacturer: Casascius Year: 2012 Version: 1 Denomination: 5btc ‘Error Bitnickel’ Load Year Total Created Unopened 2011 2012 651 570 2013 26 26 2014 Total 677 586 Material: Nickel over Brass Diameter: 28.5mm Thickness: 1.7mm Weight: 7.4g Country: USA Best Grade: MS-66 Released in January 2012 with the v1 hologram, they were priced at 6btc each. “Future version of the coin will have a matching silver series-2 sticker, but they’re at least a month out” -Mike Caldwell, January 14, 2012. They all seem to have signs of wear on the S,I,N,E,R, and I of the ‘Vires In Numeris’ motto, seemingly created in the minting process. Casascius later released an unknown number of 40 coin rolls without holograms as blanks, identifying them as ‘Roll Your Own’. Such a roll came with sheets of laser cut private key tabs and solid gold colored stickers allowing the buyer to create their own coins by using either the provided private keys or by inserting their own. This sale was likely done due to excess stock of Bitnickels. ''' Casascius Physical Bitcoin 5btc Coin, Version 1, 2012 ‘Error Bitnickel Go1dfish undelete link unreddit undelete link Author: Putin42
Hi Bitcoin! I'm relatively new to crypto and trying to help a family friend cash out their 2011 Series 1 Casascius BTC. They are getting up there in age and want to cash out. I'd buy them out but I simply don't have the funds. I know the coins are relatively collectible, but they're set on cashing out. Can someone walk me through the process of redeeming one of these to the point of transferring to a bank account? Most of the resources online are pretty dated so I'm curious if there's a way in 2018 that can make this easy? Forgive me if I follow up with seemingly silly inquiries, I'm really new to this, just trying to do a favor for a friend. Thank you!
How will the "Bitcoin Cash" fork affect Casascius physical Bitcoins?
I'm sure there are many people holding the physical Casascius coins. Can anyone elaborate on how they will be affected during the upcoming "Bitcoin Cash" fork? Will holders of these coins still have BCC as well as BTC, and will they be able to access the funds say, years from now? Ideally a Casascius holder would never redeem a physical Bitcoin due to its numismatic value; just trying to get some reassurance that holders of these coins would still have access to BCC since technically the private key is with the holder of the coin.
So far every method I've tried has failed. The official website (casascius.com) lists these options:
For example, you can enter (or "import") your coin's private key code directly into Bitcoin clients such as Armory, Blockchain.info, or directly into Mt. Gox as a deposit method.
Well, Armory seems to be busted and is stuck in Offline Mode and their support/twitter is dead. Blockchain.info doesn't seem to allow private keys import or at least I've had zero luck finding it. And Mt. Gox, yeah you already know. Does anyone know how to actually redeem one of these things?
So I have a couple of these casascius physical bitcoins purchased back in 2013 and they remain unredeemed. What are peoples thoughts on their validity in their current state? Leave them as is or should they be moved to my ledger. I've been stung by a shit whom I purchased a 3rd party physical bitcoin (not a casascius) from and he only went a redeemed it himself earlier this year!
I know that this is sort of a technological step backward but couldn’t we use the split key generation and vanity addresses to make bitcoin banknotes? (see Split Key used by vanity pool and casascius) I'm no expert but I have been trying to think of a scheme that would work because I don’t like the fact that paper wallets can't be passed around securely. Here is a vague idea of how it MIGHT work: Users and miners could create a vanity address (A+B) and fund the address leaving the private key unknown to anyone. If trusted miners kept the address B secret and the banknote contained Address A (along with a lot of other information that proved the amount of BTC) and the user could prove to the mineprintewhatever that they were in possession of the banknote in order to get Address(B) it would ultimately be redeemable because the user could then create the private key for (A+B) I know there would have to be a lot more to it than this to prevent double spending, counterfeiting, etc. (blockchain?) but I wanted to see if this idea would be practical and get it off my chest. I think it would be cool if users had the option to print, circulate, or redeem banknotes backed by bitcoin. I suppose once you need to go online to verify the banknote is valid it becomes kind of redundant but the idea is that If people had incentive to print "Blocknotes" eventually we could have a decentralized printing system with different makers of advanced polymer or cotton blocknotes and coins that the people knew and trusted.
I purchased a Lealana 1LTC Litecoin on eBay. I have a few Bitcoins, but don't really know much about Litecoin. (It was an impulsive purchase.) My questions:
Where do I check to make sure the coin is "loaded"? With physical Casascius bitcoins, I can go to a site and enter the first digits to check a coin's status (loaded/redeemed/not activated). Is there a similar site for Lealana's coins?
I was researching general information on Lealana coins, and I sure couldn't find much. I was hoping to find how many were made, which different types/series were produced, and when she produced them.
Not sure if anyone here updates the Litecoin wiki, but if you do, an article with some basic information on these coins would be appreciated.
Thanks in advance for any help. Looking forward to learning more about litecoins. UPDATE: I emailed Smoothie. His response was as follows:
I've made approximately 4,000 of the 1 LTC brass coins (in circulation). They were made in 2013. I've stopped selling coins for now. I've created 1 oz 25 LTC, 1/2 oz 10 LTC, and 1/4 oz 5 LTC coins. All made in 2013. Quantities are 500, 1000, and 2000. You can type in the first bits into explorer.litecoin.net to check balance. Hope this helps. Aloha Smoothie
Physical Bitcoin and OpenDime users face dilemma -- reveal key to dump BCash, or hodl both
You might not open up a Casascius just to get at the little bit of BCash inside, but a replacement OpenDime is just $15. Meaning if you held more than maybe $200 worth of bitcoin on your OpenDime it starts making economic sense to order a replacement OpenDime and just cash out the BCash ($BCH) on the old one. Paper wallets don't require any seal to be broken to spend the BCash, however to not weaken the wallet's security you would not want to dump the $BCH yet hodl the $BTC yet (due to that spend transaction revealing the public key.) Trezor has it all figured out for you. What would be useful is what Satoshium would offer. It has the transferability of cash (in the same manner that OpenDime, for example, does), and the re-usability of a Trezor (as a funded Satoshium can be redeemed, then reset back to blank state for use in funding with a new address.) . Unfortunately, Satoshium is still at just the concept (white paper) stage.
Longtime Bitcoin advocate here. Just recently purchased a Bit-card for the novelty, and I can't help but wish for a physical, antiquated method of transacting bitcoins physically off of the blockchain that sincerely hinders or eliminates double-spending or counterfeiting while never or rarely needing internet access. I'm from New Orleans, and picture bitcoins being impossible to use in the aftermath of a hurricane. If you live in the Northeast US, snowstorms can cause power outages for days. During these times, though not daily, people can still transact with cold hard cash. I personally don't think Bitcoin will replace fiat money entirely, but I do wish there was a way to trade it physically for rough times. Casascius coins, bit-cards, and other products protect private keys with holograms, tamper proof stickers, etc. They usually contain public addresses and verification addresses to make sure the card/coins are loaded and aren't fake. But any skilled counterfeiter could easily hand their coin in and it have a valid verification link and public address with absolutely no private key underneath the sticker. Likewise, skilled con-artists could replace the holograms or stickers and "spend" the coins, immediately sending the digital coins afterwards before they can be redeemed. While it wouldn't be trustless, I was wondering if anyone had any ideas on how to make paper wallets, coins, cards, or whatever that make counterfeiting extremely hard and/or impossible? Right now, commercial paper-wallets for trade without internet aren't worth it, considering the risks and costs.
Wired recently reported that Mike Caldwell's Casascius Physical Bitcoin service was halted due to being categorized as "money transmission" business by FINCEN. Curious to learn more about the coins and why they were created, I prepared a short timeline from postings on the Bitcoin Forum. December 30, 2010 Member tcatm describes a prototype he created for a phycical bitcoin and posts an image:
I just made a "real" bitcoin. They'll eventually be made of real metal instead of glass epoxy + copper once I have better tools.
The point would be making BTC conveniently tradeable, like cash. It lowers the minimum required IQ to participate in the Bitcoin economy, which would really help Bitcoin be accepted as mainstream currency.
His first idea was to load bitcoin onto a "pre-denominated smart card". Reaction to the idea is mixed. Member Mike Hearn quickly questions the usefulness of a physical card when the balance could only ever be verified by a computer connected to a network:
... it's very easy for you to pay me with a used up card. I would then pass it on (why redeem it, it's cash!) and it'd pass between people until one day somebody wanted to send the cash electronically. Only then would they discover the card had already been redeemed and was useless.
June 24, 2011 Undeterred by skeptics, Mike continues to iterate on his idea for a physical payment method backed by Bitcoin. This time, he suggests selling paper bitcoin wallets though PayPal. Wallets would be printed using an offline keypair generator. Although the idea receives some interest, most responses are negative. One member member called the idea "too complicated and messy for the average Joe." Another stated that "No one in their right mind would trust an unknown 3rd party with full access." Another summed the idea up in one sentence:
I can't even begin to understand how you could think that this would be a viable business.
Each coin has a private key embedded inside worth 1 BTC, covered by a custom Casascius hologram. ... Diameter: 1.125 inches. Material: brass. Price subject to revision with Bitcoin price fluctuations. The back side is flat for the hologram, except for a small circular well which holds the private key. The first 8 characters of the public Bitcoin address are visible on the outside, pre-printed on the hologram by the hologram manufacturer.
Reactions range from offers to buy to questions about long-term viability. The same day, member spiccioli points out that the Latin inscription on the front side, "VIRES IN NUMERIS", should have read "vis in numeris". September 6, 2011 Caldwell announces the availability of Cassascius Physical Bitcoins (image). Reactions are numerous, and mostly positive. Edits: grammar
Of course that's still in hex and needs to be converted to Bitcoin's modified Base58 but many wallet import tools will accept hex as well. Edit 3: Just heard from Casascius that we may be able to redeem these coins, as well as any device bearing a mini private key directly at MtGox in the near future. Edit 4: Support has officially been added Before using MtGox to redeem Casascius Coins, you should confirm that your account allows withdrawals and is not blocked by testing a very small withdrawal of an amount you can afford to lose. If withdrawals for your account are blocked, your BTC will be trapped within MtGox, until such a time, if ever, that your account becomes unblocked. Based on anecdotal reports in the Bitcoin forums ... In 2011, Mike Caldwell created the notorious Casascius physical bitcoin collection, and since then the series of coins has become extremely valuable. Over the last two months, a bunch of people have redeemed their Casascius coins and on December 23 someone peeled a 100 BTC ($723K) Casascius bar. Also Read: Only 375 Days Left for McAfee’s $1M Bitcoin Price Wager. Contents hide. 1 2011-2013 ... Casascius Bitcoins are physical coins you can hold - and each one is worth real digital bitcoins. Bitcoin is the most widely used open-source peer-to-peer "cryptocurrency" that you can send over the Internet without a bank or a middleman. Each Casascius Bitcoin is a collectible coin backed by real Bitcoins embedded inside. Each piece has its own Bitcoin address and a redeemable "private key ... Over the last two months, a bunch of people redeemed their Casascius coins and on December 23 someone peeled a 100 BTC ($723k) Casascius bar.
This video shows how to import mini private key step-by-step In this video I use method 2 described below. I used Armory wallet to import my mini private key... How to Redeem bitcoin using Blockonomics.co and creating a Blockchain wallet verify the bitcoin balance of a casascius bitcoin token and redeeming using mtgox.com verify the bitcoin balance of a casascius bitcoin token using two different web sites. Once in a while there is an opportunity that needs to be taken. The Bitcoin communities time is has come. Bitcoin Cash has increased already by 300%. Don’t miss this opportunity to change your ...