Cold Wallet Art
“ Scored Bitcoin ” by Joachim McMillan
In 2016 , Intel engineer / manager Damon
Smedley decided to walk away from his career of 22 years and invested his retirement in Bitcoin . Damon has now partnered with artist and Intel technician , Joachim McMillan , to create a new style of art they have dubbed " Scored Bitcoin ".
Scored Bitcoin fashions Joachim ’ s Mozayic style painting coupled with the keys to the cold wallet , that are “ scored ” into the face of the painting . Attached to the back of the art piece is a cold wallet . A cold wallet is a storage mechanism for Bitcoin that allows a safe place for your Bitcoins to reside rather than on the internet or on one of the many different electronic devices that are used to store Bitcoins .
In 2017 , Damon wanted to buy one of Joachim ’ s pieces as a gift to a friend . He paid . 374 Bitcoin for the art piece that was valued at $ 1500.00 . Today , that Bitcoin value would be just shy of $ 10,000.00 .
The very first scored Bitcoin art piece was sold at a charity auction in 2019 to benefit Cure JM and the local Ronald McDonald house charities . The piece was circulated on the internet , and donors were asked to add Bitcoin or Bitcoin Cash to the wallet . The coins donated now reside on that painting and will remain as part of the value of the art piece . The owner has the ability to open the cold wallet and “ sweep ” the wallet if desired . This allows the value of the associated Bitcoins to be moved electronically to a wallet such as Bitpay , which has a traditional Visa card associated with it . The owner can then easily spend the value of the Bitcoins .
So , who does Damon and Joachim see as future customers of this new market ? In their eyes , these pieces will be sought after by an older generation looking for a beautiful art piece , but it is also a way to put money away for the future . Many people have heard about Bitcoins and its rising value , but very few know how to buy or store it . This unique new art gives those who don ’ t want to learn the technology but still would like to invest , an easy way to do so .
In times of crisis , it is nice to know you can very easily sweep the wallets ’ contents and have immediate liquidity . Some people spend large amounts of money on collector art , but have a very small market to resell if immediate liquidity is needed . The fusion of technology and art in these cold wallet Art pieces allows grandma to rest a little bit easier knowing she has Bitcoin on her wall . When the day comes to move into a rest home , she can sweep the wallet and still have her art piece hanging on the wall .
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