CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic) - page 10.

casascius

vip

Activity: 1386

Merit: 1136

The Casascius 1oz 10BTC Silver Round (w/ Gold B)

Quote from: nubbins on January 14, 2014, 08:46:57 PM

Quote from: dnaleor on January 14, 2014, 02:43:43 PM

Sad thing it has to be like that. The pre funded coins had some sort of credibility. Now you can not know for sure if those coins are safe...

AFAIK the coins were never pre-funded. The funds were always added after purchasers received their coins. This is no different; it's just you funding them upon receipt instead of Mike funding them.

To be fair, there's a difference between an unfunded coin that I intend to fund with the original buyer's funds on hand but just haven't done so yet, and an unfunded coin that I explicitly have no intention to fund.

All else equal, one's likely to be considered worth 1BTC more than the other.

There are some advantages to the latter. For example, I don't have to force users to use expensive shipping options to keep a grip on unfunded coins making it into the wild. If self-fund coins get lost, the loss is limited to the physical coins that got lost, and not any BTC.

nubbins

legendary

Activity: 1554

Merit: 1009

Quote from: dnaleor on January 14, 2014, 02:43:43 PM

Sad thing it has to be like that. The pre funded coins had some sort of credibility. Now you can not know for sure if those coins are safe...

AFAIK the coins were never pre-funded. The funds were always added after purchasers received their coins. This is no different; it's just you funding them upon receipt instead of Mike funding them.

zolace

sr. member

Activity: 364

Merit: 250

I have idea for your site, PM, cause i will need a supplier for it anyway

dnaleor

legendary

Activity: 1470

Merit: 1000

Want privacy? Use Monero!

Are you still trying to get permission for the original buissiness (selling funded coins)?
Or is this the new buissiness model and will you only sell funded coins person2person from now on?

casascius

vip

Activity: 1386

Merit: 1136

The Casascius 1oz 10BTC Silver Round (w/ Gold B)

Quote from: odolvlobo on January 14, 2014, 05:56:58 PM

Quote from: casascius on January 14, 2014, 05:25:31 PM

1. Quotation marks around the denomination: "1 BITCOIN" instead of 1 BITCOIN

Physical air quotes on a physical bitcoin. How clever!

Seriously, just remove the value if it is not guaranteed.

I hope someone else can do this. I might do the same, but only if I'm offering a 2-factor version. I don't like making wallets that purport to invite people to store limitless amounts of wealth on them without offering some sort of credible protection like 2-factor. Instead, I anticipate printing multiple denominations as they're functionally identical, amount to nothing more than a cosmetic difference, and trivial to make if I"m doing them in quantity.

odolvlobo

legendary

Activity: 4298

Merit: 3209

Quote from: casascius on January 14, 2014, 05:25:31 PM

1. Quotation marks around the denomination: "1 BITCOIN" instead of 1 BITCOIN

Physical air quotes on a physical bitcoin. How clever!

Seriously, just remove the value if it is not guaranteed.

jonanon

full member

Activity: 154

Merit: 100

I may be missing something but why don't you just produce the coins in a different country?

Or outsource them to a trusted supplier overseas?

Huh

casascius

vip

Activity: 1386

Merit: 1136

The Casascius 1oz 10BTC Silver Round (w/ Gold B)

The coins I plan to offer unfunded will have the following two distinctive features:

1. Quotation marks around the denomination: "1 BITCOIN" instead of 1 BITCOIN
2. The hologram won't say ONE BTC (etc.) but instead will say SELF FUNDED or something with similar effect.
3. Year >= 2014 (not a distinctive feature in and of itself, but will not make any earlier year coins with those features)

gentlemand

legendary

Activity: 2590

Merit: 3008

Welt Am Draht

It'll be interesting to see what happens to values. It looks like there'll be an option to buy funded coins in person in bulk.

I'll probably buy more for the pure joy of ownership but won't be funding them.

icey

legendary

Activity: 1578

Merit: 1000

May the coin be with you..

Mixed blessing really. Shame to see Mike not being able to supply us with the funded coins like before, but all our other coins should now pre-2014 should increase in value.

dnaleor

legendary

Activity: 1470

Merit: 1000

Want privacy? Use Monero!

Quote from: gentlemand on January 14, 2014, 02:31:26 PM

It looks like he's back in business http://casascius.wordpress.com/2014/01/12/resuming-some-sales/ though unfunded unless you show up in person. Coolio.

Sad thing it has to be like that. The pre funded coins had some sort of credibility. Now you can not know for sure if those coins are safe...

Oh well, I guess my small stash of pre 2014 coins just became more valuable :-)

gentlemand

legendary

Activity: 2590

Merit: 3008

Welt Am Draht

It looks like he's back in business http://casascius.wordpress.com/2014/01/12/resuming-some-sales/ though unfunded unless you show up in person. Coolio.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: TheNewAnon135246 on January 14, 2014, 02:18:11 PM

Quote from: molecular on January 14, 2014, 02:16:14 PM

Quote from: see on January 14, 2014, 06:12:03 AM

is there any coins left?

look for resellers (hint: my sig)

I recommend molecular's service! Very fast delivery and great guy(s) to do business with!

We don't ship to the US any more though. For US customers, I recommend Nightowlace.

TheNewAnon135246

legendary

Activity: 2198

Merit: 1989

฿uy ฿itcoin

Quote from: molecular on January 14, 2014, 02:16:14 PM

Quote from: see on January 14, 2014, 06:12:03 AM

is there any coins left?

look for resellers (hint: my sig)

I recommend molecular's service! Very fast delivery and great guy(s) to do business with!

molecular

donator

Activity: 2772

Merit: 1019

Quote from: see on January 14, 2014, 06:12:03 AM

is there any coins left?

look for resellers (hint: my sig)

klondike_bar

legendary

Activity: 2114

Merit: 1005

ASIC Wannabe

Quote from: see on January 14, 2014, 06:12:03 AM

is there any coins left?

wow... couldnt bother reading the thread back a page or two huh? Hes clearly not selling anymore coins at this time

how'd you get out of the noobie section with only 5 posts?

see

newbie

Activity: 8

Merit: 0

is there any coins left?

Thyatis

sr. member

Activity: 252

Merit: 250

All he needs to do is call it a safe boom no longer currency

odolvlobo

legendary

Activity: 4298

Merit: 3209

Quote from: molecular on December 14, 2013, 08:06:52 AM

Quote from: odolvlobo on December 13, 2013, 01:49:25 PM

Quote from: molecular on December 13, 2013, 01:33:52 PM

Quite honestly I don't even understand the FINCEN claims. How is Mike a money transmitter if no USD ("real money") is touched?

I don't know what FINCEN's specific claims are, but he is literally a money transmitter. Someone sends him bitcoins ("convertible virtual currency") and he mails bitcoins to someone. I doubt they are concerned about him selling single small denomination coins, but he does sell large denominations (100 BTC bar) and coins in bulk (rolls of 20 or 50 BTC) that are worth multiples of $10,000.

That's just ridiculous, isn't it? Why would anybody who wants to transmit some bitcoins from point A to point B choose such a cumbersome method (buy overpriced physical token and have it snail-mailed somewhere, that's like printing out an email and faxing it to someone who OCRs it) when the virtual bitcoins can be sent to any address via the blockchain for a low transaction cost. Let alone the fact that the bitcoins aren't even on the coins during the shipping process. They're sent to the coins addresses via the blockchain afterwards, specifically to avoid customs trouble.
I think the only difference here is that they have a guy to pin this down on. Otherwise it would mean that any blockchain transaction constitutes money transmitting.

Bitcoins sent through the block chain are traceable, while bitcoins sent through Mike are not. Furthermore, transactions using his coins are as anonymous as cash, so they probably want to know who is buying his coins.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: odolvlobo on December 13, 2013, 01:49:25 PM

Quote from: molecular on December 13, 2013, 01:33:52 PM

Quite honestly I don't even understand the FINCEN claims. How is Mike a money transmitter if no USD ("real money") is touched?

I don't know what FINCEN's specific claims are, but he is literally a money transmitter. Someone sends him bitcoins ("convertible virtual currency") and he mails bitcoins to someone. I doubt they are concerned about him selling single small denomination coins, but he does sell large denominations (100 BTC bar) and coins in bulk (rolls of 20 or 50 BTC) that are worth multiples of $10,000.

That's just ridiculous, isn't it? Why would anybody who wants to transmit some bitcoins from point A to point B choose such a cumbersome method (buy overpriced physical token and have it snail-mailed somewhere, that's like printing out an email and faxing it to someone who OCRs it) when the virtual bitcoins can be sent to any address via the blockchain for a low transaction cost. Let alone the fact that the bitcoins aren't even on the coins during the shipping process. They're sent to the coins addresses via the blockchain afterwards, specifically to avoid customs trouble.

I think the only difference here is that they have a guy to pin this down on. Otherwise it would mean that any blockchain transaction constitutes money transmitting.

Topic: CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic) - page 10. (Read 130271 times)