Physical bitcoin producer Bitbill applies for cold storage patent
The creator of Bitbill, Douglas Feigelson, has filed a patent application entitled "Creating and using digital currency", and covers a general method of storing digital currency in a physical token. While the term is not used in the patent application, it is directly aimed at a generic method of so-called cold storage of cryptocurrency, of which Bitbill is not the only method. The application, filed under 20130166455, states: Among other things, a physical device carries value and can be physically delivered in a transaction. The physical device includes a representation of the value....
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What would an approved patent for a physical Bitcoin mean for the Bitcoin community? Douglas Feigelson, the founder of BitBills, filed a patent with the United States Patent and Trademark Office (USPTO) on December 23, 2011. Just last Saturday, June 27, 2013, the USPTO processed Feigelson's application and entitled the application for a patent as, "Creating and Using Digital Currency." There is much concern within the Bitcoin community that such a patent, if approved, could potentially restrict further hardware Bitcoin wallet development. "Let's Talk Bitcoin,"highlightedthe connection....
Cold storage is perhaps the safest way to store your bitcoins (or any other cryptocurrencies) since cold wallets are kept offline. Anyone can send money to a cold wallet, but retrieving funds from cold storage isn't possible without physical access to the wallet, making this storage option a lot safer from online hackers. Many people print their private keys on paper, creating a "paper wallet". However, these types of wallets are susceptible to flooding, fires, ink wearing away, and more. Fortunately, CryoBit has created a more elegant solution - the Cryo Card. CryoBit claims to have....
When it comes to Bitcoin discussions, one of the arguments you are bound to encounter is the fact that you can’t pay your real-life bills with digital currency. Technically speaking, that is always incorrect, as you can convert Bitcoin to fiat currency and pay bills. If you live in Europe, however, you can also use a service called BitBill.eu. BitBill is hybrid between traditional banking and digital currencies like Bitcoin. Up until this point, it was not possible to pay any of your outstanding bills with bitcoin directly, with a few minor exceptions here and there. However, thanks to....
Physical coins are an interesting addition to the digital aspect of Bitcoin. Whereas it is not possible to physically hold your Bitcoin balance, there is a way to give them a physical representation by funding physical coins with BTC. Many manufacturers have been creating coins over the past few years, and Crypto Vault has unveiled its limited edition 24K gold plated and 0.5oz .999 fine silver Vault Coins. Crypto Vault entered the Bitcoin scene in March of 2015, when the young company announced its first product, “Vault Coin.” As the name suggests, Vault Coin is a physical coin that can be....
Keeping bitcoins safe is one of the most important responsibilities in the world of digital assets. As the price of bitcoin continues to climb, exchanges and wallet providers become more susceptible to theft. The best way to keep your bitcoins safe is storing them yourself offline in what’s called cold storage. Creating Cold Storage Using a Paper Wallet.....