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Board Project Development
Re: Islamic Bank of Bitcoin{}بنك بتكوين الاسلامي
by
silvertree
on 09/08/2012, 16:28:34 UTC
Thanks..I think i am getting it Undecided
So when you load the cheqe the bit coins are in the Islamicbank untill cheque is redeemed?

no , the cheque itself has private key hidden under the hologram, the 'islamic bank' doesnt hold your coins, its in the cheque itself, if you lose your cheque then you lose your BTC

if you go to bitaddress.org you get something like this

 Bitcoin Address: 1AY3EJSzzqU4HKsEiynm56xuy3NQdqY9go
Private Key (Wallet Import Format): 5KjuK5qoz9cQ5bdfYo7Vm2yhJZ5EUbPYVqdqAV7Ry8ftH4VkRWg

you keep the private key secret, if someone finds out the key, they can use it to steal your btc

Is it like having my wallet on a peice of paper?
If i ever manage to buy some bitcoin i have them sent to the address on the cheque?
And there is no trace of the transaction on my computer?