The New Pound Coin and Bitcoin security features

The New Pound coin is in circulation during last week of March 2017 complete with new security feature to ensure they cannot be counterfeit.

 

“The new 12-sided £1 coin has a hidden security feature to make it difficult to counterfeit. It is thought to involve material inside the coin itself which can be detected when electronically scanned by coin-counting or payment machines. But officials at the Royal Mint have not released any further details.

 

Other security measures include an image that works like a hologram, and micro-sized lettering inside both rims. As a result, the Mint claims it will be the “most secure coin in the world”.  It will replace the existing £1 coin, of which about one in 40 are thought to be fake.

 

“It’s been designed to be fit for the future, using security features that aim to safeguard our currency, and currencies around the world, for years to come,” said Adam Lawrence, chief executive of the Royal Mint.”  Read the Full article from the BBC here 

 

 

Does Bitcoin itself have security measures and can Bitcoin be duplicated like Fiat Currency?

 

One of  Bitcoin’s unique features is that it cannot be copied or duplicated – there is nothing there to copy as Bitcoin is not a file or a physical object.  Bitcoin’s value is in the numbers which are stored in an address such as an online or offline wallet – the value is in the stored data.

What do these numbers of stored value look like?

 

Bitcoin also protects against double spending.

 

Get your copy of What is Bitcoin

This e-book on Amazon explains what Bitcoin is, it explains that Bitcoin (BTC) is a virtual currency, digital not physical, and independent of banks. Useful links and resources for the newbie and advanced Bitcoiner or cryptocurrency enthusiast.

 

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