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 Replies: 7 / Views: 1,263 |
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Valued Member
Romania
68 Posts |
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Pillar of the Community
United States
3079 Posts |
The short answer is yes, copper with gold plating. If there is a market for items that have value above the cost of the manufacture then with the current state of misinformation, and non understanding of what these types are and their value is. Peoples greed at thinking they are getting a steal/deal. Also considering there are a couple hundred different brands or types of this currency. There is plenty of room for fake etc.
As with all coinage/tokens some will pay a premium for uncirculated mint state items. Grades may or may not apply to all items.
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Valued Member
 Romania
68 Posts |
I found the description of what I ordered and it says Gold Plated Iron and it was 2$ so it's definetly a fake right?
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Moderator
 United States
54280 Posts |
The vast majority of physical bitcoins are just fantasy tokens and do not really have anything to do with or "contain" any genuine bitcoin value.
Yes, there are a few, very few, physical bitcoins that are supposed to be "loaded" with some or all of a bitcoin but those are extremely rare and would be priced at LEAST the value of the bitcoin it is supposed to contain.
One bitcoin is $4,671 as I type this today.
If you can buy a bitcoin token for $2, then rest assured it is not really a bitcoin.
Edited by nss-52
09/02/2017 08:46 am
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Pillar of the Community
United Kingdom
2624 Posts |
Correct, it is not a bitcoin. A bitcoin cannot realistically be counterfeit unless you had 51% of the computer processing power and split the block chain. In this case it wouldn't really be counterfeit it would be an issue of ownership over the solution to the algorithm (a bitcoin is like a long number that solves the cryptographic requirements, there are only 21 million solutions so that's how many bitcoins are possible)
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Pillar of the Community
 United States
4589 Posts |
The true bitcoin coins have a (masked) QR code which is the wallet containing the bitcoin. It's masked so nobody can use the QR code to steal the bitcoin.
The physical item is really just a token.
it would certainly be possible to have $2 in bitcoin, that's, what, something like 0.00042799058 bitcoin
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
4085 Posts |
Bitcoins are an electronic currency and there are no physical bitcoins. Anything containing a wallet id linked to one or more bitcoins is not a bitcoin; it's more like a password to a safe containing money than money itself.
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Valued Member
Romania
68 Posts |
So if the Numista says that it's gold plated copper and mine is gold plated iron, it is "fake"? Sorry if I didn't understand something.
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Replies: 7 / Views: 1,263 |
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Posted 09/02/2017 08:09 am
