Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Bitcoin - I don't Understand
>
Reply to Thread
Message:
<p>[QUOTE="calcol, post: 26191178, member: 77639"]There are two issues here: physical bitcoins and bitcoin codes that allow access to trade. Physical bitcoins are often slabbed, but many still aren’t slabbed. They have a code that allows online access to trade. The code may still be concealed under a peel-off in which case the code is probably valid if the physical coin came from a trusted source. The trusted source did a trade that gave them the online access code. Then they created the physical coin with the code behind the peel-off. If the peel-off has been removed or the code has been otherwise exposed, assume the code has been used and the value transferred. In other words, at this point, the physical coin is simply a token that may or may not be of value to a collector. The storage of physical bitcoins is no different from any other coins.</p><p><br /></p><p>The vast majority of bitcoin value is not associated with physical bitcoins. The bitcoin value is accessed online via codes that allow trading. The codes can be stored in someone’s head, on a Post-It, in a spreadsheet, etc. … or hidden behind a peel-off on a token. Lose the code or allow someone to access it, and your bitcoin value may be gone forever.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 26191178, member: 77639"]There are two issues here: physical bitcoins and bitcoin codes that allow access to trade. Physical bitcoins are often slabbed, but many still aren’t slabbed. They have a code that allows online access to trade. The code may still be concealed under a peel-off in which case the code is probably valid if the physical coin came from a trusted source. The trusted source did a trade that gave them the online access code. Then they created the physical coin with the code behind the peel-off. If the peel-off has been removed or the code has been otherwise exposed, assume the code has been used and the value transferred. In other words, at this point, the physical coin is simply a token that may or may not be of value to a collector. The storage of physical bitcoins is no different from any other coins. The vast majority of bitcoin value is not associated with physical bitcoins. The bitcoin value is accessed online via codes that allow trading. The codes can be stored in someone’s head, on a Post-It, in a spreadsheet, etc. … or hidden behind a peel-off on a token. Lose the code or allow someone to access it, and your bitcoin value may be gone forever. Cal[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Bitcoin - I don't Understand
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...