If cryptocurrency is digital, where do these coins come from? I asked the question in one of my pre-LeoFinance posts, but I didn't get the answer I was looking for. I got answers, but they were for questions I hadn't asked. Although I've learned much about cryptocurrency since I wrote that original post, the answer to this question still eludes me.
Image Source: Base Image (Pixabay). Banner text and edits made with MS Paint.
Some Observations
Oftentimes, when we read about cryptocurrency, we see physical representations of these "coins"-- especially market cap leaders Bitcoin, Ethereum, and Dogecoin.
We know that cryptocurrencies are digital in nature-- bits and bytes and stuff that's nice.
We also know it's hard to discuss them in media without some sort of physical representation or avatar.
| So where do these physical representations come from??? |
|---|
(It's a splinter that's been bothering my mind even more since I made the original post that I had to include three question marks.)
Whatever these things are-- rounds, tokens, medallions, you tell me-- they have to come from somewhere. Otherwise, we wouldn't see them used as props in media.
More Questions
► Assuming these physical representations of crypto coins are real items, where can people buy them?
I doubt people can get them for free just for the asking.
► Who makes them?
For all I know, they could be made at a mint, a foundry, a factory, or at some woman's 3-D printer. I have no idea!
► Who sells them?
I doubt they are made to be given away just for the asking. Even if someone gets them after having purchased actual cryptocurrency, it's not given without the expenditure of money. So who is known for selling them?
► Is there a market for these physical representations separate and apart from the cryptocurrencies they represent?
We may not have enough cryptocurrency in our wallets, but perhaps we can make a buck or quid from selling these things. My bet is eBay, but I don't know.
I know I'm not the only one out there who's been wondering about these "coins," but I haven't found answers so far. I'm sure I missed something, maybe even something obvious. Even so, I've been scratching my head at this.
If anyone has answers, feel free to share them, or at least point me in the right direction. Thanks in advance!!
One Possible Answer
Rounds made of precious metals or even copper or nickel seem to be the best guess as to what these things are.
It looks as if eBay is one place selling these "coins" I've been wondering about.
I want to say they're cheap or that it's a good deal, but I don't know enough about this market to answer one way or another.
| ● If you liked this post, please give it an upvote. ● Please reblog or re-Hive this post if you found it useful. ● If there are corrections or clarifications I need to make concerning post content, let me know in a comment so I can update the post and give you credit for the correction. ● As I am neither a cetrified professional accountant nor a licensed broker, posts concerning cryptocurrency, commodities, securities, and money are presented for informational purposes only; DYOR. |
|---|
| ● Although I've learned a lot about Hive and its ecosystem of dApps, there's much more I don't know. Where can Hivers new and old learn more? Visit TheTerminal for FAQs, tips, references, and terrific how-to content. ● If your voting power is beneath dusting threshold, follow and use  and  to boost your voting power. Authors you upvote will be glad you did, and you'll be happy to start claiming curation rewards. |
 ~~~~~ |
|---|
| My main focus is cryptocurrencies from a number of angles (educational, commentary, observations, even pop culture). A secondary focus is sharing my discoveries about the world of Hive Social. Most of my posts can be found at these two locations: ● LeoFinance : @magnacarta ● Proof of Brain : @magnacarta For posts I make at other tribes or communities, start here to locate them : ● Ecency: @magnacarta/posts Follow me at this D.Buzz-only account : ● D.Buzz : https://blog.d.buzz/#/@magnacarta.buzz-- note the ".buzz" at the end! I also expect Festivus to take off in popularity in the coming years. |