Do you guys have any comment, questions, concern or anything constructive to say about this project ?
I would like to have your feedback !
I just shared on FB. hope I'm not too late.
Ok.. .so I do have a questions, when I saw the product I assumed it was going to be a coin that had a viewable address with 1 BTC in it. Then a protected private key under the hologram which would be destroyed on removal.
So, basically, while the hologram is affixed it would have 1 BTC (or I guess more if people send more) but basically you could just look at the address on the blockchain to see the balance. This would allow for trading the coin on the market and the value would be tied to the BTC value. This is what I thought when you said "backed by crypto currency".
I assumed this is how it worked because it has the 1 BITCOIN denominated on it.
Ok... so I guess there are no question yet.
Does the coin come with the Address printed on the outside of it?
Is the private key under the hologram?
Does removing the hologram to get at the private key destroy it in such a way that it can be re-applied?
What is the security of the hologram wrt duplication? For example, if someone offered to sell me the coin, I could see the hologram was affixed and view the address balance and be 100% sure the private key had not been viewed by a scamming seller.
I can tell if it is single-key or multi-key based on the address starting with a 1 or a 3 right?
thanks. Very nice looking coin BTW, I think $80 is reasonable given the current price of silver.
Also, would like to see the Brass coins with LTC perhaps rather than BTC.
You are not too late, still 4 hours to go !
I made the choice to sell them empty for a two reasons, firstly, Casascius and Lealana had to shut down their activity due to regulatory problems and I wanted to avoid that. Second, was that I was afraid of chargebacks, it would have been a lot of trouble if someone request a chargeback on a around 500$ coins and I couldn't afford that. So I made a two options, either they come empty or I can fill them as soon as the coin get in hand of the customer (Of course the customer need to provide it's own Bitcoin).
As for the coin themselves there is three options:
First:
Multisignature. This way, you have your own password or passphrase on your side (Which you can print using a link we will provide you once the coin is created) and there is one password on our side (Which is inserted under the hologram on the coin). This solution come with a gold "Original" hologram pre-installed. This solution is the most secure you can get.
Second:
Single-key signatures. This way, you have a password, created by us, under the hologram. This solution come with a gold "Original" hologram. This solution also come with a gold "Original" hologram pre-installed.This solution is also secure, but you have to trust us (We create and print the key round on an offline computer and a dumb printer, also, the hard drive is encrypted and files are securely deleted)
Third:
DIY. This way, you receive three silver "Personal" hologram (In case you make a mistake applying it on the coin). You need to create your round key and address rectangle to be inserted under the hologram (You can PM me if you want a little software wrote in Python to create them, or you can create them by yourself). With this option, future buyer will need to trust YOU in order to buy them.
All the hologram are tamperproof so, as soon as they are removed, there is a honeycomb pattern that shows that the hologram has been removed, you can't put it back because you will clearly see the honeycomb. So it is a one use hologram. In the case you redeem your coin and would like to fill it again, you would need to send it back here and we would make a new address and key. They all come with their own address, the first 8 char is visible on the coin itself (Through a window on the hologram) and a certificate come with the coin giving you the complete address. In the case you lose this certificate, no worrie, you can search on cryptolator.com with the 8 char and it will give you the full information of the coin itself.
Multisignature address begin with "3" and Single Key address begin with "1".
The private key is under the hologram. For the Multisignature, you need your own key and the key under the hologram to redeem. For the Single-key, you only need the key under the hologram to redeem. The personal one comes with three hologram, that are different from the "Original" one, you need to create your own key and address and apply the hologram yourself.
There will be a Litecoin version with a completely new design, only if I sell this batch fast and think it would worth it. There would be a silver version and a brass version for this one too.
This project took a lot of my time in the last months and I am adjusting to make peoples as happy as possible and I would certainly like to continue this project as long as possible, making a new design every years with a limited silver version and a less limited and lower denomination brass version !
I hope this answer all you questions, if it doesn't, feel free to ask some more !
Thanks for your interest !
