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Ballet: how to have a physical block of Bitcoin
Ballet: how to have a physical block of Bitcoin
Bitcoin

Ballet: how to have a physical block of Bitcoin

By Marco Cavicchioli - 24 Apr 2020

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The American company Ballet by Bobby Lee, brother of Charlie Lee of Litecoin, has put on the market physical blocks featuring a bitcoin wallet that stores the freshly mined BTC.

Thanks to a collaboration with the Slush Pool mining pool, they were able to mine two blocks, 627061 and 627295, whose proceeds were sent to the wallets contained in two titanium physical blocks. 

These are collectable physical wallets, not necessarily used as wallets to receive or send BTC, but to preserve them or bequeath them to future generations. 

In the specific case of blocks 627061 and 627295 mined by Slush Pool, the 12.5 BTC reward and all transaction fees included in the blocks were sent to the public address of two physical wallets, on which 12.55076892 BTC and 12.68226839 BTC are now stored respectively. 

It is also worth mentioning that these wallets store so-called virgin bitcoins, i.e. tokens that have no history behind them, because after being mined they were only used for one transaction, i.e. the one that transferred them to these wallets. 

In order to receive one of these blocks, Ballet customers must purchase the physical object and pay the bitcoin equivalent of the BTCs stored in its wallet. 

The physical square blocks are made of titanium commonly used in the aerospace industry and represent a physical version of a Bitcoin block. 

They are issued in a limited version before the May halving and are delivered when a block is mined, the proceeds of which can be stored in the wallet. 

The collectables world is finding increasingly interesting use cases for blockchain-based technologies, such as bitcoin itself, because thanks to the fact that all transactions are public and can be verified by anyone, it is easy for collectors to go and verify the authenticity and ownership of the tokens. 

The trustless nature of these technologies makes them perfect for an industry that demands the highest levels of certification, as they completely eliminate the figure of the certifier and therefore the need to trust someone. 

All data is public and can be verified by anyone in person, without having to rely on any intermediary. This is why collectors are so interested in using them. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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