Topic: Bitcoin Specie Project sponsored by the makers of New Liberty Dollar - page 3. (Read 88462 times)

Lots of people have suggested not putting a value on the piece.  But we will likely always do that anyway.  There are many reasons for that.  There isn't network everywhere, and one of the benefits is not to need to have our gizmos out every time we want to make a small purchase.  This is especially true for Point-of-sale transactions where there may be a line of folks waiting.  It is for the quick, truly anonymous, point of sale transaction.

The value on the front is the nominal value, put there for historical reasons.  It is the designer's best guess from the year before as to what the average BTC / Ag value is averaged over the year.
If Bitcoin is around many years hence it will serve as a marker for what we were doing with Bitcoin 'way back when'.  That it raises the question of what BTC is worth in silver is (we thing) also a good thing, as that changes over time and highlights the merit of Bitcoin as a store of value.  The real-time value is the value that ought be used commercially as indicated by the QR code link to http://colhardca.sh/ag

All the pieces from a single year will have the same design.  There are however a good number of "special" pieces made in any given year for the folks that are collecting them, but they are really not meant as collectibles, but are made to be pocket change for Bitcoin currency.  
Like pocket change folks should be spending and circulating them rather than hanging on to them.  It is one of the many ways to address the issue of block chain bloat for small in-person transactions.

Oh, I see.  So the design on the OP is actually a little different depending on the time of minting.  Does the value stamped on the front get rounded to the nearest mBTC or something?

The coins are minted with their value denominated in BTC at the time of minting. Personally, I'm holding on to one .25 BTC silver specie as a collectible.

They definitely look good.  But now I realize that it's really just a silver coin with a bitcoin commemeration on it.  That's also cool.  Just not what I was thinking of when I first saw the qr code/coin.

I think that given the QR which links to the current value in fiat on a web page, why not remove the 0.25BTC?  Especially since, as far as I can tell, that value is off by nearly an order of magnitude.

I've also seen people mention it's too confusing that it is labeled One Quarter Bitcoin when it is not worth that much.

I ask if they get confused by a twenty dollar gold piece. 

They indeed aren't meant to be used that way. I have two of them and I really really like them. They look and feel amazing.

Aha, thanks for the clarification.  I guess I don't belive in the idea of "backing" bitcoin by silver when it's already backed by the mathematical scarcity of solutions to the hashing problem.  Anyway, the coins are still beautiful but now I understand that they aren't intended to be "silver wallets".

No, you do not. The coin only has silver value and you cannot load money onto it. It is meant to back Bitcoin. The message indeed isn't accurate, or maybe it was when the coin was made (Silver value == Bitcoin value). No idea about that, sorry.

These definitely look better than the other "physical bitcoins" I've seen, I personally love the qr code rather than the hologram.  However, if I understand correctly, this also means that if the private key for a particular instance gets compromised, then the entire coin is pretty much useless as a well, you'd have to recast the coin...

Also, if you want to put money in or out of the coin, you'd end up changing the value of the coin, so the "One Quarter Bitcoin" message on the front wouldn't be accurate.

Do I understand correctly?

Beautiful rounds. They look much better in person.

This might be useful to others as well so...


Yes, like the Bitcoin Specie.  BTC payment or Chase Bank Deposit (now requires ID presented to teller).

The special this month is for the 1oz 2005 and 2006, and Bitcoin Specie bulk orders.  I have a variety of others that I have on offer at 10% below Liberty Dollar Encyclopedia prices.  If there is anything you want or want me to put together an assortment to match a desired amount to spend let me know.

What is purchasable and for how much is the http://coldhardca.sh tool, but for those that want to join the bulkorder, they get a discount.
The other current offers are always kept on the first page of this thread.

You're right though.. of course.  I forget how not everyone reads javascript..,  :0

The discount is that you get automatically bumped into the next better premium rate.  So ordering in qty 20 would normally get you a premium of 0.25, instead you would get 0.225 (22.5% over silver price so about US$4)

Here's the code on the site, if that makes more sense to some of you.  Basically though, your premium is still dependent on quantity ordered, but is just better.  For July, if you join in the bulk order.

if (qty < 10)
         premium = agrate * 0.365;
      else if (qty < 20)        
         premium = agrate * 0.30;
      else if (qty < 60)        
         premium = agrate * 0.25;
      else if (qty < 100)        
         premium = agrate * 0.225;
      else if (qty < 200)        
         premium = agrate * 0.2;
      else if (qty < 500)        
         premium = agrate * 0.175;
      else if (qty < 1000)        
         premium = agrate * 0.15;
      else if (qty < 2000)        
         premium = agrate * 0.14;
      else if (qty < 5000)        
         premium = agrate * 0.13;
      else if (qty < 10000)        
         premium = agrate * 0.12;
                else if (qty < 20000)
                        premium = agrate * 0.1;
                else if (qty < 50000)
                        premium = agrate * 0.075;
      else if (qty >= 100000)        
         premium = agrate * 0.05;
      return premium.toPrecision(5);

It might be useful/helpful if you made a list that tells us what is purchasable and for how much. You could even go so far and add how much discount someone would get if they bought it now. That might be a smart addition if you ask me.

To Start it off.

Lets do a group bulk order.

We will do this for all paid orders in the first three weeks July to be shipped at the end of July.
Every order will get the next higher premium discounted pricing.

If you put in an order and don't want to wait and get the discount that is fine as well.

In the bulk order.
Send orders via PM or the email in the profile of this account.
If you need a quote and don't understand the pricing the normal pricing is on http://coldhardca.sh


Also, as you may know we do take payment in other silver and gold.  We are expecting to receive a sizable payment in Original Liberty Dollars, 2005, 2006.  So let us know if you are looking for any of these as well.  For the month of July they are priced as Bitcoin Specie.  That's a bargain!  Thank you California.  Our legal team have confirmed that the ruling applies to us, so back in business.  I was not looking forward to the move back to Las Vegas just to keep this going.

Thank you to all of you who are participating in this project, please accept our apology for going quiet during this time of political advocacy on AB 129.

Thats great news.
Now I hope it follows to the rest of the country.

That is some amazing news man! Really glad that they passed that. I wish you all the best with the sales.

AB 129 passed, which repealed the prohibition on alternative currencies in California.

This is a good thing.  I'm in California, and my legal advisors had advised that I not make too much trouble whilst this is progressing through the political pipeline.

The result is that Bitcoin, and Bitcoin Specie are both lawful money.  This is not LEGAL TENDER, which in my opinion is a good thing that it isn't.

The Legal Tender law is the one that FORCES someone to accept a currency in payment for a debt owed.  This is what allows someone who accepts a bitcoin payment to refund the money in something else, because of the Legal Tender law.

Lawful Money on the other hand simply means that it is OK to voluntarily trade using that currency.  The law can not prevent it.  I think that this suits Bitcoin much more as a designation than Legal Tender which uses state power to cram it down throats.  The Legal Tender laws were created to give some value to valueless currencies and Bitcoin nor Bitcoin Specie need such a crutch.

So, what does this mean..

It means we are BACK IN BUSINESS.

And that means it is time to have a Sale.  Or several of them.  Lets get the party going!!!

Thanks.
Now I have way too many to choose from.  LOL

Another source with a variety of cases:
http://www.air-tites.com/

Very cool.
Thanks for the info and the link.