BTCC launches 5 Bitcoins on its fifth anniversary, and the second batch of physical Bitcoins will be issued soon

As the date of Bitcoin's halving approaches, BTCC has released the first batch of V-series physical Bitcoins. Coinciding with the fifth anniversary of BTCC, the longest-running exchange, the V-series five Bitcoins were also recently issued. The back of each five-bitcoin is engraved with the word "five" in different languages ​​from different countries, including "FIVE" in English, "LIMA" in Indonesian, "VIJF" in Dutch, "ΠΕΝＴΕ" in Greek, and 21 other languages. These words are connected by circles, symbolizing the widespread acceptance of Bitcoin around the world.

BTCC revealed that it expects to release the second batch of physical Bitcoin before the halving. Babbitt took this opportunity to visit BTCC CEO Bobby Lee to talk about the new product, physical Bitcoin, which is also an unprecedented product in the industry.

8btc: What was the original intention of producing such a physical Bitcoin?

Bobby Lee: I am a huge fan of Bitcoin and I think physical Bitcoin is a great way to promote Bitcoin and digital currency because it is physical and can be touched and intuitively feel the value of this string of characters. This is revolutionary and will be a great topic starter when talking about Bitcoin.

8btc: Why choose titanium?

Bobby Lee: Many materials have been used to mint physical Bitcoins, with gold and silver being the most commonly used. We considered these metals, but ultimately did not use them due to logistics and transportation reasons. There are strict regulations on the import and export of gold and silver, so this was not feasible for us.

We carefully considered and decided to use titanium. Space-grade titanium was chosen to mint the physical coin because it best represents the strong, lightweight and durable characteristics of Bitcoin.

8btc: How long did it take from the idea to the first batch of official sales? What steps did you go through? Are there any stories you can share?

Bobby Lee: We often have some new coins in our mining pool, so we thought of realizing their huge value in the form of physical coins.

We came up with the idea last summer, so it took almost a year to complete the project. We spent months thinking about how to implement it, what materials to use, the coin size and how many bitcoins to attach to make it the most special.

At the end of last year, our idea was formed, and at the beginning of this year, we started looking for factories to test materials and components. By April, we had produced the final version of the physical Bitcoin sample. This was also the time when our mining pool started mining this batch of coins. We first sent these coins to employees and friends for testing, and then officially released the physical Bitcoin at the end of May.

8btc: How to ensure the security of private keys? How to ensure that users are the only owners of private keys during the entire production process?

Bobby Lee: The security of the private key is very, very important. I regard it as the most important part of making physical coins. I am the only one who creates and prints the private key on special paper. These papers are also kept by me and destroyed immediately after the physical coins are made. From printing the private key to sticking the laser label, the entire private key manufacturing process is supervised by me to ensure that no one has a copy of the private key.

8btc: Does choosing this time period to launch physical Bitcoin have anything to do with the halving time?

Bobby Lee: Yes, the upcoming halving is indeed an opportunity to consider releasing physical Bitcoin. We hope to release the first series of physical coins before the halving, so that the new coins people buy are still generated from the 25 Bitcoin blocks.

8btc: I heard that the first batch has been sold out. How many coins were sold in total? When will the second batch be released? What is the expected production volume?

Bobby Lee: We sold 700 coins in the first batch. It sold out faster than we expected, and the public key addresses of these coins are visible on the blockchain. We hope to sell the second batch before the halving. Once the sale starts, we will inform you of the production volume.

8btc: Has BTCC investigated users' intention to buy physical Bitcoins? Most of them are for collection? For gifting? Or simply for the appearance?

Bobby Lee: We haven’t conducted a survey yet. This is a good question. We are also curious about the intended use of users who purchase BTCC physical coins, and we will definitely conduct a survey soon.

8btc: The halving time is approaching, does BTCC have anything to say to users and Bitcoin holders?

Bobby Lee: I am very excited about the upcoming halving. Recently, we also announced the release of the 5 Bitcoin. The 5 Bitcoin is very special. It is much larger than ordinary coins, with a diameter of 50 mm and a thickness of 5 mm. What is special is that in addition to the one-pack and two-pack, we also sell 5 packs, and all five coins are mined from the same block. So customers who buy the 5-pack of 5 Bitcoin also own five bitcoins mined from the same block. And we only have 21 5-packs of 5 Bitcoin.

These are definitely limited, because after the halving, each block will only have 12.5 bitcoins, and it will never go back to 25 coins, which means we can't have five coins in a pack. As for the halving itself, it will happen within a month, and BTCC Mint Bitcoin may give everyone a surprise.