They are a novel idea for a physical wallet.
No one has to buy them.
Your argument is invalid.
Topic: casascius and other physical bitcoins is a fraudulent idea (Read 5905 times)
You don't have to buy the coins.
They are a novel idea for a physical wallet.
No one has to buy them.
Your argument is invalid.
They are a novel idea for a physical wallet.
No one has to buy them.
Your argument is invalid.
There are coin collectors the world over seeking to purchase a piece of brass with a fancy sticker for nearly twice the face value of a commodity-like instrument that didn't exist 10 years ago (which means there are many more people just becoming acquainted). Will people try to counterfeit Bitcoins, and maybe even Casascius coins? Does the Pope fart in the woods?
Calling it a fraudulent idea...well that's just naive.
Calling it a fraudulent idea...well that's just naive.
Well, the casascius packs bitcoin as real 18K gold coin (or 23K if serious) even you used the amount stored in order to get double profit.
I think, due to the issue, should delivery these by using paper in order to reduce uncomfortable issues. But no need real metal to pack, just using bank bill like to pack.
I think, due to the issue, should delivery these by using paper in order to reduce uncomfortable issues. But no need real metal to pack, just using bank bill like to pack.
Yeah Cas, why not just sell coins with BIP38 encrypted keys and no value loaded, for the cost of manufacture + profit, and let the customer send BTC to their coin's address themselves. I don't see how anyone could accuse you of being a money transmitter in that case.
What is the meaning of a physical coin if you can't sell it or buy it as any other physical money?
Casascius coins helped bring a digital intangible into physical form...one of the best things to hit Bitcoin since the blockchain if you ask me.
Satoshi developed a perfectly secure version of an old money and Casascius let them suffer from the old physical money falsification problem. He just try to compromise a brilliant idea of cryptocurrency. What a good guy he is. Don't you think that he is like a Satoshi evil twin instead?
if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".
AHAHA what a witty guy.
I bet that some Chinese guys who read this thread have already decided to mint coins which will look like yours preserve private keys and sell it on ebay. Just to satisfy the demand on this fraudulent coins. So many guys here in the thread are arguing that they want to buy one of these. Why not let them buy it, really? Counterfeit of any such physical bitcoin is not even a crime. Light-mindedness should be punished.
Also I can imagine what you will say in situation when one user of your coin or a coin which looks like yours will open it and realise that private key stolen. You will probably say that it's not your coins it is a fake coin and you aren't responsible for this fraud.
Casascius coins helped bring a digital intangible into physical form...one of the best things to hit Bitcoin since the blockchain if you ask me.
And all these fans will continue to praise you. 
Someone is already making those encrypted keys. Basically, it's just a QR code engraved and inked on aluminum or steel.
Yeah Cas, why not just sell coins with BIP38 encrypted keys and no value loaded, for the cost of manufacture + profit, and let the customer send BTC to their coin's address themselves. I don't see how anyone could accuse you of being a money transmitter in that case.
The way I looked at it from the start, I imagined something could attract their attention but even then, it would be a win-win for Bitcoin.
I have always believed that any outreach by the government would be impossible without some sort of implicit official endorsement of Bitcoin as being "money" - something that in Sept 2011 when I started this, was little more than a far-off dream. At that time the world saw Bitcoins the way we today see the euphemistically self-deprecating altcoin called "shitcoin". I mean, all the news coverage was consistently "Bitcoins are dead", "Bitcoin hacked, value plummets to 0.01", "the rise and fall of Bitcoin", "ponzi scheme collapsed", etc etc. People couldn't chuck them fast enough.
Now we're at the point where FinCEN wants to bother me...and...drum roll...Bitcoin is officially being considered money. The original reason I ever started with my coins was to bring positive attention to Bitcoin, and even now that my ability to continue making coins is being put up for question, I can't see how what's happened overall anything less than total victory for Bitcoin. Even if my legal counsel says "Don't make or sell another Casascius COin ever again in your life"... 2 1/2 years of Casascius Coins = mission accomplished.
I have always believed that any outreach by the government would be impossible without some sort of implicit official endorsement of Bitcoin as being "money" - something that in Sept 2011 when I started this, was little more than a far-off dream. At that time the world saw Bitcoins the way we today see the euphemistically self-deprecating altcoin called "shitcoin". I mean, all the news coverage was consistently "Bitcoins are dead", "Bitcoin hacked, value plummets to 0.01", "the rise and fall of Bitcoin", "ponzi scheme collapsed", etc etc. People couldn't chuck them fast enough.
Now we're at the point where FinCEN wants to bother me...and...drum roll...Bitcoin is officially being considered money. The original reason I ever started with my coins was to bring positive attention to Bitcoin, and even now that my ability to continue making coins is being put up for question, I can't see how what's happened overall anything less than total victory for Bitcoin. Even if my legal counsel says "Don't make or sell another Casascius COin ever again in your life"... 2 1/2 years of Casascius Coins = mission accomplished.
That's very true.
I just wonder how the press could possibly illustrate news articles about bitcoin without any Casascius coins
Maybe you could sell unfunded coins, it can't be against any FinCEN guidelines to sell metal discs with stickers - at least not yet.
if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".
Only wish I'd bought one of your coins back when you first announced them as I considered. Ah well... As to the above:
https://www.youtube.com/watch?v=pz8aYiH_nRg
if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".
Lol. Its current form reminds me of David Cross in Arrested Development...AnalRapist
Lol like the MAJORITY of bitcoiners using web wallets are any safer.
It's also not good at all. Paper wallets shouldn't look like something wich can be sold bought or exchange. At first... And all this sealings on a paper wallets give the user same feeling as well. You are constantly trying to make a physical bitcoin carrier that looks like an exchangeble things like coins banknote public bond or something that can be given as a present or sold. It is a destructive activity.
Why are you doing that?? And why are you priding of that?
I don't see it as fraudulent, as long as the person receiving it understands the caveats. The way I see it, it is the responsibility of each individual seller or reseller of physical bitcoins to make sure the buyer understands the relevant security limitations. If this isn't done, that's not the fault of the original manufacturer of the coins.
if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".
Casascius coins helped bring a digital intangible into physical form...one of the best things to hit Bitcoin since the blockchain if you ask me.
Get yours before the price goes higher: https://bitcointalksearch.org/topic/selling-mint-1-btc-casascius-coin-series-three-345121
Get yours before the price goes higher: https://bitcointalksearch.org/topic/selling-mint-1-btc-casascius-coin-series-three-345121
you are saying what should or should not be done in a free market? okay now i know you are just a troll.
i see why you had to make a new account for this trolling, such fail you are.
i see why you had to make a new account for this trolling, such fail you are.
I am not saying what one should do I am just arguing that some things is not that good as it feels at first. I wasn't interested in bitcoins before the recent media attention. Now I read some info about it and realized that such a popular thing like physical coins is fraudulent, but most of the users do not bother of it. That why I have created this thread.
My strange username is the result of a huge number of registration tries which were led to errors and ask me to wait for a minute for the next try and again and again, your username was already coined ok wait a minute, sorry but you tryed to register a minute again wait one more minute and try again, sorry but you password is week try again after a minute or two.... its a terrible procedure. Now I would like to change my username to the normal one but can't.
The idea that paper wallets should be artistic and have an abstract resemblance to bank notes is something I introduced myself.
It's also not good at all. Paper wallets shouldn't look like something wich can be sold bought or exchange. At first... And all this sealings on a paper wallets give the user same feeling as well. You are constantly trying to make a physical bitcoin carrier that looks like an exchangeble things like coins banknote public bond or something that can be given as a present or sold. It is a destructive activity.
Why are you doing that?? And why are you priding of that?
But just to be clear, and as others seem to have pointed out, your point is going to be more respectable if it doesn't purport to be putting people in their place with a dose of "shame" backed only by self-issued respect. Feel free to share your message - I agree it's important - I would just recommend you remember to use your manners at the same time.
Same lecture on good manners could be told to someone who are shaming a guy who is selling electronic cigarette to kids.
Sometimes the process is the punishment. FinCEN, DHS, etc. know this. A simple inquiry can be as effective as a cease and desist order.
Having met you (at the San Jose Conference) and talked with you, I'd like to extend a big thanks for all you've done. :-)
The way I looked at it from the start, I imagined something could attract their attention but even then, it would be a win-win for Bitcoin.
I have always believed that any outreach by the government would be impossible without some sort of implicit official endorsement of Bitcoin as being "money" - something that in Sept 2011 when I started this, was little more than a far-off dream. At that time the world saw Bitcoins the way we today see the euphemistically self-deprecating altcoin called "shitcoin". I mean, all the news coverage was consistently "Bitcoins are dead", "Bitcoin hacked, value plummets to 0.01", "the rise and fall of Bitcoin", "ponzi scheme collapsed", etc etc. People couldn't chuck them fast enough.
Now we're at the point where FinCEN wants to bother me...and...drum roll...Bitcoin is officially being considered money. The original reason I ever started with my coins was to bring positive attention to Bitcoin, and even now that my ability to continue making coins is being put up for question, I can't see how what's happened overall anything less than total victory for Bitcoin. Even if my legal counsel says "Don't make or sell another Casascius COin ever again in your life"... 2 1/2 years of Casascius Coins = mission accomplished.
Sometimes the process is the punishment. FinCEN, DHS, etc. know this. A simple inquiry can be as effective as a cease and desist order.
The way I looked at it from the start, I imagined something could attract their attention but even then, it would be a win-win for Bitcoin.
I have always believed that any outreach by the government would be impossible without some sort of implicit official endorsement of Bitcoin as being "money" - something that in Sept 2011 when I started this, was little more than a far-off dream. At that time the world saw Bitcoins the way we today see the euphemistically self-deprecating altcoin called "shitcoin". I mean, all the news coverage was consistently "Bitcoins are dead", "Bitcoin hacked, value plummets to 0.01", "the rise and fall of Bitcoin", "ponzi scheme collapsed", etc etc. People couldn't chuck them fast enough.
Now we're at the point where FinCEN wants to bother me...and...drum roll...Bitcoin is officially being considered money. The original reason I ever started with my coins was to bring positive attention to Bitcoin, and even now that my ability to continue making coins is being put up for question, I can't see how what's happened overall anything less than total victory for Bitcoin. Even if my legal counsel says "Don't make or sell another Casascius COin ever again in your life"... 2 1/2 years of Casascius Coins = mission accomplished.
No one should really trust large amounts of money in physical coins manufactured by others containing plaintext keys, but ones with BIP38-encrypted keys are fine if generated using an intermediate code, or where an already-encrypted key is supplied by the user, since in that case even the manufacturer can't decrypt them. I have seen some physical coin manufacturers that offer such options.
(Note that Casascius is the one who developed this standard, why would he have done this if his business model was to keep the private keys?)
BTW I recently posted a fork of the BtcAddress reference implementation that adds support for BIP38-encrypting existing private keys...
https://bitcointalksearch.org/topic/m.3802614
Cheers to all... And Mike, I hope you work things out so you can continue operating.
(Note that Casascius is the one who developed this standard, why would he have done this if his business model was to keep the private keys?)
BTW I recently posted a fork of the BtcAddress reference implementation that adds support for BIP38-encrypting existing private keys...
https://bitcointalksearch.org/topic/m.3802614
Cheers to all... And Mike, I hope you work things out so you can continue operating.
This youtube video does a nice job of summing up Mike Caldwell's life:
http://www.youtube.com/watch?v=Igi1xClurcI
http://www.youtube.com/watch?v=Igi1xClurcI
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