Context for Chatgpt: Physical bitcoins are components or rods equipped with a hologram that reveals a private key for use to restore the amount of BTC on the blockchain.
One of these first bitcoins, known as “Johngalt” on Bitcointalk, revealed that he had held a 100 BTC Casascius bar for over 13 years. He bought it for only $ 500 when the price was BTC $ 5.
Pressure on holding $ 10 million in physical bitcoin
The risk of physical holding of bitcoins or crypt has become quite obvious in recent months. While the case of crypt of kidnapping explodes around the world, the risks have become particularly visible.
On May 13, 2025, the investor of the first hours known as “Johngalt” decided to take advantage of his ten -year physical collection BTC.
He took off the hologram of the object, revealed a private key, and converted all 100 BTCs, now worth more than $ 10 million, to new addresses.
The transaction was confirmed by the on-seam and shared with the Bitcointalk community, which meant one of the greatest physical bitcoins so far.
Johngalt explained that he had avoided the replacement of his BTC for years due to huge pressure on storing such a high -value asset.
“But I didn’t want to replace it. For me, my physical bitcoin, which has not been replaced, has a value for more than the money itself,” he wrote.
He tried to sell the bar several times, especially by exploring the possibilities of the auction. However, disputes over the award and concerns about trust have always prevented.
Although the value of bitcoins exceeded $ 100,000, he decided that the risk of holding a single object worth eight numbers is no longer worth it.
A complex process of purchasing
Johngalt shared the technical details of this BTC collection process on the forum. First he tried to use Electrum on Android to restore funds, but encountered problems with compatibility with mini private keys.
Finally, he decided to convert the mini key to a usable format for Bitaddres.org. So he created new wallets with a safe apartment and manually sent BTC to secure addresses.
Finally, he confirmed that the funds were safely moved before they publicly announce the Bitcoin Bar collection.
Urban negligence: Bitcoin cash obtained by a foreigner
Johngalt, however, made a fundamental mistake by publishing a photo of the online Casascius Key without first demanding bitcoin cash (BCH), the main fork of Bitcoins.
Because BCH uses the same private key system, someone who follows the forum wire has restored BCH before it is only nine minutes after the post. It is estimated that Johngalt’s lost BCH was worth more than $ 40,000.
The crypto community responded with admiration and sympathy. Many of them welcomed his courage and called him legend that he knew how to hold, and hold the BTC for 13 unstable years.
Others shared their concerns about the risks of storage of physical parts, especially with damage caused by fire, failure of hologram adhesive and floods. In fact, all these threats could destroy holograms or inviolable keys.
In addition, several users have experienced an emotional and logistical weight of possession of unsexual physical parts and reflected anxiety to store physical assets worth millions.
Despite the exchange of BTCS Johngalt, he confirmed that he would not sell his now empty bar, which remains a rare piece of the first days in the history of Bitcoins.
Morality History: A physical bitcoin bar stands more than a gold bar.
Notification of irresponsibility
Notice of non -response: In accordance with the TRUST project, Beincrypto undertakes to provide impartial and transparent information. The aim of this article is to provide accurate and relevant information. However, we invite readers to check their own facts and consult a professional before you decide on the basis of this content.