2014-07-21 Forbes - Chinese Bitcoiner Makes Physical Bitcoins In Pure Gold

[TheIrishman]

Chinese Bitcoiner Makes Physical Bitcoins In Pure Gold

http://www.forbes.com/sites/ericxlmu/2014/07/21/chinese-bitcoiner-made-physical-bitcoin-in-pure-gold/

<< A post published on 8btc.com, a Chinese Bitcoin news portal, shows photos of some gorgeous looking gold coins that also contain information entitling the bearer to one Bitcoin for each physical coin. >>

[Chef Ramsay]

I imagine that if these are limited edition coins then the collector's value will go a long way to maintaining value in the event that BTC price far outpaces that of gold yet the last owner already ripped the private keys and/or spent the BTC leaving just the ounce of gold left.

[hbqchjy]

12 years have passed, and to my knowledge, the Bitcoin embedded in these coins is in excellent condition; on-chain data shows that 90% of the private keys embedded in these coins have not yet been activated, and their value cannot be measured in fiat currency.
refer to：https://x.com/raingames79/status/2000071723799253197

[internetional]

I really liked the phrase "Gold-Backed Physical Bitcoin" engraved on the coins. It reminds me of the times when everyone kept asking: "What is Bitcoin backed by?"

It turned out to be a great joke. Perfect for answering someone from 2014 today: "Someone tried fivefold 'backing', but that backing ended up losing value by hundreds of times, even though it was gold."

[cr1776]

I really liked the phrase "Gold-Backed Physical Bitcoin" engraved on the coins. It reminds me of the times when everyone kept asking: "What is Bitcoin backed by?"

It turned out to be a great joke. Perfect for answering someone from 2014 today: "Someone tried fivefold 'backing', but that backing ended up losing value by hundreds of times, even though it was gold."

The gold has increased in value, but "only" maybe 4-5 times whereas the bitcoin has increased by value around 300 times.  :-)

[hbqchjy]

I really liked the phrase "Gold-Backed Physical Bitcoin" engraved on the coins. It reminds me of the times when everyone kept asking: "What is Bitcoin backed by?"
https://pbs.twimg.com/media/G8Guo2FbgAEy4Wj?format=png&name=900x900
It turned out to be a great joke. Perfect for answering someone from 2014 today: "Someone tried fivefold 'backing', but that backing ended up losing value by hundreds of times, even though it was gold."

From a value perspective: Gold prices may have increased 4-5 times over the past 12 years, but Bitcoin prices have increased approximately 200 times

Back then, spending 5 Bitcoins to mint a physical gold coin…was that really a wise investment? Perhaps not. But using over a thousand dollars' worth of gold to represent Bitcoin when it was only a few hundred dollars was certainly insane.

The official archive website contains all the details, on-chain verification tools, and media reports:

https://goldphysicalbitcoin.com