Topic: 4K Casascius Coin Marketplace - page 2. (Read 1013 times)

Hey eod, I think 4k has the right idea and definitely a first mover advantage outside of this forum. Wanted to share some constructive feedback after reviewing the site and comments above:

- NFTs and fractionalized ownership: my assumption is that the goal of this is to minimize the risk of product loss in transit during transfer of ownership and to allow participants to invest without paying the entire cost. My initial thoughts are that Casascius maintain value due to the value of being able to in fact hold a tangible good, though the NFT aspect replaces this which I am not quite sure is a good thing though NFTs even with recent mainstream auction success.  In order to properly crowdsource an item, take Rally for example which has perfected the model, the pricing would need to be reflective of market value to properly sell out to individuals which leads to my next thought.

- Current pricing and use of ERC20 platform: I believe we can all agree on this forum the asking prices are nowhere near the market rates over the last 2 years at any point. While the "make an offer" feature may appear to remedy this dilemma, I personally would not move my decentralized native bitcoin to a wrapped centralized version for the sole purpose of making an offer on this without knowing my offer would be taken into serious consideration. As someone who uses altcoin platforms daily and interact with contracts just to degen and mint the newest NFT, I feel like this may be an even harder sell for those who are bitcoin maxis. I noticed when I attempted to make an offer that the "spend amount" was my offer +10% which is interesting. My guess is the current price is intentionally marked high so a true market value can be found via the make an offer feature which I think may need changes to be successful such as requiring payment within x hours after a signed offer is accepted rather than requiring depositing funds ahead of time. If deposited funds are required, I would suggest allowing multiple options on expiration time similar to OpenSea's model if at all possible as 1 day on USDC could be catastrophic on some days 

- Continue to gain interest: the pictures and authentication are flawless and I think brings added value to the service so kudos to the team. I think this does a great job of catching the attention at first glance as it did for me and more so then when I went to greatcollections.com to look at the 25BTC Cas on auction. So my feedback here is really just they have a real gem and should expand off other aspects to capitalize on this.

I actually considered NFTs and Cas which is why I minted the ENS domain casascius.eth, but due to my thoughts above I chose against pursuing it. Glad to see it being put to the test nonetheless and wish the best to the entire team. If successful this time next year, they can have the domain from me for free if wanted 

Best,
Rx

right!? me too 

eod, this website looks sick.

Definitely a valid concern and I've thought about this a lot. I think the issue is that 1) Very few people currently use bitcointalk relative to the current size of the crypto community 2) Anyone who comes here is going to have a hard time trusting MJ or other forum based escrows since they don't have any context of the forum history or how valid the trust system is (I think they're fantastic don't get me wrong, it's just hard for someone new to process) 3) the current structure of having a 3rd party escrow hold funds then having to mail the item (and trust the receiver will confirm receipt) or fly and meet the person (which for certain values there are serious security concerns) requires coordination/trust between three parties and is quite a challenge.

I've helped a few people source Cas coins in the past and it basically amounted to me hard vouching for both parties and was quite a challenge. If something goes wrong, the package gets lost, or the anon escrow stops responding what do you do? People don't want to deal with all of these concerns and it's obvious when seeing things like that recent MS65 5 BTC auction go for under peel value. Crypto solves the trust problem in the digital domain but the physical world still unfortunately requires trust assumptions. This team is all US based, identities are all known, the items are insured, and for larger amounts there are signed contracts with known people and legal entities. This allows legal recourse if something were to go wrong. The safest choice is to keep these in a safe but when it comes to selling them, I think this is a step in the right direction. All ears if there are ways to improve it or if you think the current forum system works better for 7-8 figure transactions I'd love to hear why.

Also, some cool stuff in the works now that these can be NFT'd, this allows them to be fractionalized (can sell/own a fraction of a coin) as well as used as collateral for loans or DeFi (access liquidity without realizing capital gains). 4K will also be launching yield farming for items listed on their exchange so even just sitting they will earn an ROI.

But yeah tl;dr do your own research and 4K will need to continually build up its trust with the community as they expand. I personally am trusting them but work within your own risk tolerance. 

Seems like the better alternative, mj that is

They can use MJ 

I don't get it.  So people are to trust this 3rd party with what could amount to a 6, 7 or even 8 figure amount of physical coins they own.  I don't know if I'd be able to sleep at night not knowing if they were safe.  Don't get me wrong I'm not implying anything I just don't know about 3rd parties holding my stuff and for me to get an nft in return.  What if I lost access to my nft thingy who gets the coin?

Edit:  fysa if any of those coins sell on that marketplace let me know I'm down for those prices  

Edit 2: always a good thing to get more visibility on physical crypto coins for sure.

Hey everyone! So I've been working on getting something like this launched for quite some time and am excited to announce that 4K.com now supports Casascius coins!

As BTC price has increased, buying and selling Cas coins has become increasingly difficult, and this friction has led to, what I believe, a significant gap between sale price and what these should actually be valued at.

I've known the 4K founder Richard for quite some time, he got into crypto in 2011 and even though he only owns one Casascius coin, he has been a fantastic supporter of this endeavor and really understands the important historical value of these coins. I have put my money where my mouth is and provided a significant portion of my collection to seed the marketplace. One other member of the forum has also sent in several coins, and a few others have helped significantly with getting this launched. I'll let them chime in if they would like to reveal themselves but I am continually impressed by the amazing support from this community!

If you would like to get involved in any way, have suggestions, questions, or want to learn more about the listing process feel free to DM me. Between Pawn Stars, this, and the marketing cycle we have planned hopefully we can bring Cas coins and other crypto collectibles the attention they deserve! 

Marketplace: https://4k.com/brand/casascius

Yahoo Finance article: https://finance.yahoo.com/news/4k-platform-offer-over-18-160200705.html

Tweet thread: https://twitter.com/jonathantallen1/status/1451226408345227284?s=20