CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic) - page 27.

imanikin

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Quote from: dave111223 on February 11, 2013, 10:23:23 AM

Quote from: casascius on February 11, 2013, 10:10:00 AM

No that wouldn't work because for them to be backed by something, it must be possible to claim it.

Simply destroying an equivalent number of coins is not the same.

Example, imagine the US dollar is "backed by gold, you just can't ever claim it". That is equivalent to being backed by nothing.

...
I'm not sure I understand your US dollar example?

Then anyone could make any number of coins with the same public address, and everyone could verify that they all have the same coin at the same time... Cheesy

dave111223

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Quote from: casascius on February 11, 2013, 10:10:00 AM

No that wouldn't work because for them to be backed by something, it must be possible to claim it.

Simply destroying an equivalent number of coins is not the same.

Example, imagine the US dollar is "backed by gold, you just can't ever claim it". That is equivalent to being backed by nothing.

But if the coins all had the full address printed (or etched, or etc..) on the outside, one could still verify that the coin did hold it's reported value. Obviously this would not be feasible until Casascius coins were widely used in physically transactions (ie buying a candy bar at the store), because at that point there would be no need for the coin to ever be put back into digital use, why would one need the private key?

I'm not sure I understand your US dollar example?

casascius

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

No that wouldn't work because for them to be backed by something, it must be possible to claim it.

Simply destroying an equivalent number of coins is not the same.

Example, imagine the US dollar is "backed by gold, you just can't ever claim it". That is equivalent to being backed by nothing.

dave111223

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In the future do you think you would continue to put the private keys on the coins?

If Casascius coins are widely used in the future as the physical form version of bitcoins wouldn't it make more sense to just generate addresses with no private keys at all (private keys destroyed immediately after generation and never saved)? So that the bitcoins are forever locked to the coin.

This would surely bring the cost of making the coins way down as you could do away with the whole hologram system completely.

This would be especially useful for printing paper money as you wouldn't need to think of any elaborate way to hide the key inside the paper and could allow for low cost printing of small denomination bills.

casascius

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

I would expect the hologram to melt and burn like plastic, and then it's just an exposed piece of paper.

Best kept safe from fire just like your fiat currency.

They have fireproof envelopes you can consider using. They may help. I imagine they are made from that same fireproof fabric that plumbers use to avoid burning walls with their blowtorch. That stuff is pretty cool. Last time I did a home plumbing repair I blowtorched my hand using that stuff as a barrier. Pretty neat. You still feel heat but it takes FAR longer to burn you (seconds to tens of seconds) vs just torching your bare hand (tenths of seconds).

EricTyle

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Quote from: molecular on February 09, 2013, 11:22:03 AM

It'd probably be harder to ignite than an unprotected piece of paper because it's behind the hologram.

I don't think you would need to ignite it. I'm sure it would have enough essential fuel in there to at least illegible-ize/vaporize the piece of paper

naypalm

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howdy

I recycle the cheese spread jars leftover from xmas or the superbowel.

Rawted

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If you're concerned about tarnish, just get a pack of these -> http://www.amazon.com/gp/product/B009YKA106/ref=oh_details_o01_s00_i00 . i use them everywhere i have PMs.

SgtSpike

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Quote from: molecular on February 09, 2013, 11:22:03 AM

Quote from: casascius on February 08, 2013, 02:10:14 PM

Quote from: SgtSpike on February 08, 2013, 01:56:11 PM

Casascius - have you ever done any heat-testing with your coins? I am curious what temperatures they would be able to withstand while still having a legible private key. In other words, would they be more or less safe than a piece of paper in the average firesafe?

The private key is a piece of paper, so it should be roughly similar.

It'd probably be harder to ignite than an unprotected piece of paper because it's behind the hologram.

btw: just made some shots of older coins to show the "patina"

(click for post with larger version)

btw2: I increased the number of coins I will sell for BTC 1.5 including shipping (16 left).

I was more concerned about it browning, but again, that'd probably be a bit delayed because it is covered by the hologram.

Rawted

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Any word on when memorydealers will be back in stock? looking to purchase some of these beautiful coins with my cc, paypal, or cash.

molecular

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Quote from: casascius on February 08, 2013, 02:10:14 PM

Quote from: SgtSpike on February 08, 2013, 01:56:11 PM

Casascius - have you ever done any heat-testing with your coins? I am curious what temperatures they would be able to withstand while still having a legible private key. In other words, would they be more or less safe than a piece of paper in the average firesafe?

The private key is a piece of paper, so it should be roughly similar.

It'd probably be harder to ignite than an unprotected piece of paper because it's behind the hologram.

btw: just made some shots of older coins to show the "patina"

(click for post with larger version)

btw2: I increased the number of coins I will sell for BTC 1.5 including shipping (16 left).

SgtSpike

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Quote from: casascius on February 08, 2013, 02:10:14 PM

Quote from: SgtSpike on February 08, 2013, 01:56:11 PM

Casascius - have you ever done any heat-testing with your coins? I am curious what temperatures they would be able to withstand while still having a legible private key. In other words, would they be more or less safe than a piece of paper in the average firesafe?

The private key is a piece of paper, so it should be roughly similar.

LOL, didn't realize! I've never torn one apart myself.... thanks. Wink

casascius

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

Quote from: SgtSpike on February 08, 2013, 01:56:11 PM

Casascius - have you ever done any heat-testing with your coins? I am curious what temperatures they would be able to withstand while still having a legible private key. In other words, would they be more or less safe than a piece of paper in the average firesafe?

The private key is a piece of paper, so it should be roughly similar.

SgtSpike

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Activity: 1400

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Casascius - have you ever done any heat-testing with your coins? I am curious what temperatures they would be able to withstand while still having a legible private key. In other words, would they be more or less safe than a piece of paper in the average firesafe?

SgtSpike

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Quote from: LoweryCBS on February 08, 2013, 01:40:06 PM

Slabbed that myself with a holder from here: http://bcwsupplies.com

The label is a Photoshop .psd file which I'll give to anyone that wants it.

Quote from: SgtSpike on February 08, 2013, 12:40:49 PM

Quote from: LoweryCBS on January 05, 2013, 12:09:47 PM

Slab-a-dab-dab:

Did you make this yourself, or was this actually graded by a 3rd party company?

Nice, it looks good!

LoweryCBS

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firstbits 1LoCBS

Slabbed that myself with a holder from here: http://bcwsupplies.com

The label is a Photoshop .psd file which I'll give to anyone that wants it.

Quote from: SgtSpike on February 08, 2013, 12:40:49 PM

Quote from: LoweryCBS on January 05, 2013, 12:09:47 PM

Slab-a-dab-dab:

Did you make this yourself, or was this actually graded by a 3rd party company?

SgtSpike

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Quote from: LoweryCBS on January 05, 2013, 12:09:47 PM

Slab-a-dab-dab:

Did you make this yourself, or was this actually graded by a 3rd party company?

EricTyle

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Casascius, can you re-update the picture of "what these look like when they're broken open"?

Tachikoma

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I am still very happy with my coins and I would love to add a silver one to my collection. Please let us know if you considering making more, else I might go hunting a 2nd hand one

01BTC10

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Quote from: DobZombie on February 02, 2013, 08:06:19 AM

Quote from: ianbakewell on January 29, 2013, 05:10:30 AM

Hey Mike,

Are you planning on doing a 2013 run of silver coins?

He better be!

Bring on the 2013 run of coins! Grin

I want one too! Maybe with encrypted private key I would supply myself?

Topic: CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic) - page 27. (Read 130368 times)