Some of my friends don't believe in bitcoin because they think it is not suitable for ordinary payments.
This project is a prove that it is feasible.
The bills will have to be improved in security from time to time as the counterfeiting and tampering technology improves, but that happens with national currencies too. In this case, competition is possible so the end user will pay less for that service.
Congratulations for llama, but also to Atlas and BCEmporium because (although they weren't right in the security measures) they saw the feasibility of printed bitcoin.
Trading with printed bitcoins needs I trusted third party, but is a revolutionary idea. Bitbills is a new currency backed with bitcoins and open to competition.
New hopes for the future monetary system.
Maybe buying silver was not that necessary as an insurance. I won't sell my 2 kg anyway, just in case someone drops a rainbow bomb.
My next saving purchase could be bitcoin or bitbills, I'm just too affected after selling my only 230 btc on an average price of 80 cents just before the run to 8 dollars. One thing I've learned: I'm not good as a speculator. Next time I buy bitcoins I will keep for the "save" long run instead of trying to make profit of short term arbitrage.
It is easier to hoard bitbills than bitcoins. That's one of the reasons (not the main one) I prefer silver to euros for saving. Euros are so easy to spend...
I'm still in love with the idea of sending bitcoins to one of your bitbills. I will probably put a mark on that one.
By the way, that printed piggy bank could be developed with free software with no third parties involved. Not suitable for trade like BTB, but interesting.

awesome project.
 
"in cryptography we trust" 

trusting a third party .. just like a central bank ..

your all whacked in the heads.

Edit:
 - third party trust to create legit ones ... NO WAY
 - wallet backup ... third party trust ... NO WAY
 - a card is easy to be ripped of, confiscated by parasites, destroyed, etc, ... NO WAY

Bitcoin is meant to get rid of ALL these issues ... why on Earth would you want this?

I don't want bitbills project die before emerging, so I will not show this item on ebay.
I decided to print something similar like bitbills in my country in native language, but came up with idea that printed bitcoins is utopia. Untill law protect bitbills, they are very fragile and easy to conterfeit. Currencies are protected by law, but if you counterfeit bitbills no one will punish you. Feel this difference!

Act responsibly!!!

Please, describe in details what do you mean by "destroying".

The private key is sandwiched between layers of the card. To get it out you have to cut the card open.

Ok, here's the opened Bitbill (click for full size):



The plastic lamination is pretty thick, not just a thin film. Underneath that is the private key barcode with the hologram sticker stuck to it. Peeling off the hologram left half of it on the barcode which required some rubbing alcohol to remove.

Haha, nice try but I already sent the coins to a new address using BitcoinJ.

Can you describe how you did this?  I was going to test one of my bitbills with the patched bitcoin client.  But if it's easier just to use bitcoinJ, I'd like to hear how.