I have redeemed several coins on Mt. Gox. After I enter a private key there it moves the BTC from the coin into my Mt. Gox account. Then since it is in sweep mode if anyone were to (foolishly) put any BTC on that same keypair anytime in the future the BTC get automatically swept into my Mt. Gox account. I guess I do not understand the trust issue you are talking about (above and beyond the obvious trust we place in Mike when he makes the coins). Since the account associated with the coin is now drained there is really no reason to ever use it again. So the service has no way of getting any future coins from it - unless you use it again.
O, I see now, you are talking about a "fly by night" operation that builds trust in the community and then at some point runs away with some coins. Well that is what "fly by night" operations do.
Topic: CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic) - page 45. (Read 130363 times)
Question: besides Mt. Gox and StrongCoin does anyone know of any other places that accept the mini private key format for import?
I've been thinking about making a dedicated service solely for redeeming stuff (and have the coins sent to a specified address right away)I dropped the idea because of the trust issues that'd be involved and because it's already offered, as you said, by exchanges.
Such a service might be well-placed on casascius.com, no?
There's still a lot of trust there, since you're actually giving away the private key. A service could in theory start up, pay out the 1 BTC coins just fine to gain trust, and then once (if) Bitcoin value gets very high and someone tries to redeem a 100 BTC bar, they take the money and run.
You might be best making one of those client-side javascript-based pages that seem to be getting developed to somehow take a key and the transaction hash and index being redeemed, and have it generate the redemption transaction completely on the client side, and publish that somehow. Then, once the source code of the page is vetted, it could be saved and used without any additional risk.
It would be interesting if Casascius could include such a page for download from his site, or maybe included on a USB stick with the large-value purchases or something, customized already with the transaction hash and index associated with the coin/bar. So one would just need to put in the private key and could get the funds, without digging in BlockExplorer.
Question: besides Mt. Gox and StrongCoin does anyone know of any other places that accept the mini private key format for import?
I've been thinking about making a dedicated service solely for redeeming stuff (and have the coins sent to a specified address right away)
I dropped the idea because of the trust issues that'd be involved and because it's already offered, as you said, by exchanges.
Such a service might be well-placed on casascius.com, no?
Your service would do just fine if it paid out immediately.
Question: besides Mt. Gox and StrongCoin does anyone know of any other places that accept the mini private key format for import?
I've been thinking about making a dedicated service solely for redeeming stuff (and have the coins sent to a specified address right away)
I dropped the idea because of the trust issues that'd be involved and because it's already offered, as you said, by exchanges.
Such a service might be well-placed on casascius.com, no?
I DID IT! It was not easy but it is possible. Hopefully there will be a more user friendly way to do this soon. Ideally we can eventually add a way to import mini private keys directly into the wallet through the Windows GUI on the standard Bitcoin client. For now I would settle for bribing the author(s) of pywallet into adding the mini private key format to pywallet. Not having that, this is how I did it:
- I then made a file named “short” containing exactly these 22 characters. This is not as easy as it sounds because most editors add CR/LF and EOF characters to a file. I used hexedit to make a file of exactly these characters.
- Then I used openssl like so: bash-4.1# openssl dgst -sha256 < short
this can be done more elegantly in one step without the use of a file:
Quote
echo "S4b3N3oGqDqR5jNuxEvDwf" | openssl dgst -sha256
Question: besides Mt. Gox and StrongCoin does anyone know of any other places that accept the mini private key format for import?
My coins arrived today, much faster than I would have thought (I live in Europe). They look absolutely great, thank you for your excellent service! Will buy some more when v2 becomes available.
Could you give us an estimate of how many 1 BTC coins you still have left? And how long is the second series going to take? I wanted to buy a few of each, but I'm afraid that the original series will go out of stock soon...
Come to prague, you will likely be able to buy some.
Could you give us an estimate of how many 1 BTC coins you still have left? And how long is the second series going to take? I wanted to buy a few of each, but I'm afraid that the original series will go out of stock soon...
I DID IT! It was not easy but it is possible. Hopefully there will be a more user friendly way to do this soon. Ideally we can eventually add a way to import mini private keys directly into the wallet through the Windows GUI on the standard Bitcoin client. For now I would settle for bribing the author(s) of pywallet into adding the mini private key format to pywallet. Not having that, this is how I did it:
- I then made a file named “short” containing exactly these 22 characters. This is not as easy as it sounds because most editors add CR/LF and EOF characters to a file. I used hexedit to make a file of exactly these characters.
- Then I used openssl like so: bash-4.1# openssl dgst -sha256 < short
this can be done more elegantly in one step without the use of a file:
Quote
echo "S4b3N3oGqDqR5jNuxEvDwf" | openssl dgst -sha256
They use the mini private key as well.
I see that Memory Dealers is selling the 100btc bars now. Do they have the full-length private key affixed, or do they also use a mini version?
Just in case you missed my question, Casascius.
I have the gold bars up on my website, cost is 8.50 BTC. I am still working on photos.
Two versions of the bar: one is preloaded with 100 BTC (has Casascius hologram), total cost 108.50 BTC.
The other has no denomination, no hologram, and I throw in a couple of plain gold stickers and sample private keys with their corresponding addresses. The private keys still work and are secure, I am just assuming you don't plan to use them. The intent is for those of you who want to generate your own private key, in which case you can also get to choose the BTC amount.
I will make a new post once I have a more formal announcement and photos to go with it.
Two versions of the bar: one is preloaded with 100 BTC (has Casascius hologram), total cost 108.50 BTC.
The other has no denomination, no hologram, and I throw in a couple of plain gold stickers and sample private keys with their corresponding addresses. The private keys still work and are secure, I am just assuming you don't plan to use them. The intent is for those of you who want to generate your own private key, in which case you can also get to choose the BTC amount.
I will make a new post once I have a more formal announcement and photos to go with it.
I provided some text in another thread: https://bitcointalksearch.org/topic/how-to-give-bitcoins-for-birthdays-christmas-weddings-etc-50386
Its a start.. I guess, but honestly thats the part everyone should write themselves, as its kinda the personal message (good template though, even if IMO it focuses a bit too much on the value of the gift, and not enough on the concept, but thats for everyone to decide).
Anyway, I was more looking for something "official", explaining things like how to redeem the coin, how to check if its been tampered with, and also what a bitcoin really is. Yeah I know, its not going to be a short note then, but thats okay IMO. Even a booklet would be fine, and it would also be nice if it was printed in a way that doesnt look like I printed it myself on my inkjet printer. This is something Id gladly pay extra for, particularly when combined with a wooden or whatever box that holds the coin and everything else. Like a "starter kit", something you can give and whoever receives it can at least read the "manual" without me having to say "just google it".
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I have some "2-by-2's" sized for the 1 BTC coin and will include these on request (either with the coins already installed, or ready for you to install with a stapler, you choose). More info on what these look like: http://coins.about.com/od/caringforcoins/tp/coin-holders.htm
Again, that would be a start. Now add a box and make it look pretty and valuable. After all, we might be gifting the future equivalent of a car or a house
. 
One of those cylindrical coin tubes, down at the bottom of the page, would be nice if you had a lot of the 1btc coins.
I'm sure they are available in the correct size somewhere online.
BTW, did you get my PM casascius?
I'm sure they are available in the correct size somewhere online.
BTW, did you get my PM casascius?
...along with a "user manual" for someone who's never heard of bitcoin...
I provided some text in another thread: https://bitcointalksearch.org/topic/how-to-give-bitcoins-for-birthdays-christmas-weddings-etc-50386
I have some "2-by-2's" sized for the 1 BTC coin and will include these on request (either with the coins already installed, or ready for you to install with a stapler, you choose). More info on what these look like: http://coins.about.com/od/caringforcoins/tp/coin-holders.htm
Ive seen this a long time ago, but kinda wondered.. why bother? I dont have enough faith in the "tamper proofness" of the seals and dont like the faith required in the issuer , so I didnt see this could ever become mainstream. (dont get me wrong, Im quite willing to believe the OP, particularly for just a few bitcoins, I just dont expect the world would, especially not for larger amounts).
But then it hit me: so what?
This is such a great idea as gift!
Not only is it an extremely original gift, it also spreads the word in circles where you otherwise might not even talk about it. And who knows, if bitcoin would ever achieve mainstream status, these coins might become a collectors item. So I just ordered a few. I might even give one to people I know are too PC illiterate to ever use them as bitcoins. Just like you'd give special occasion silver euro coins (and Im sure dollars have equivalents) that are not intended to be spent.
But Id like to make a suggestion: offer some coins in a fancy gift box or wrapping, along with a "user manual" for someone who's never heard of bitcoin, maybe along with a certificate or something, so that its even easier to give to people and it doesnt just look like a casino chip. Ill cook up something myself, but I would have gladly purchased a nice looking "gift box"
But then it hit me: so what?
This is such a great idea as gift!
Not only is it an extremely original gift, it also spreads the word in circles where you otherwise might not even talk about it. And who knows, if bitcoin would ever achieve mainstream status, these coins might become a collectors item. So I just ordered a few. I might even give one to people I know are too PC illiterate to ever use them as bitcoins. Just like you'd give special occasion silver euro coins (and Im sure dollars have equivalents) that are not intended to be spent.
But Id like to make a suggestion: offer some coins in a fancy gift box or wrapping, along with a "user manual" for someone who's never heard of bitcoin, maybe along with a certificate or something, so that its even easier to give to people and it doesnt just look like a casino chip. Ill cook up something myself, but I would have gladly purchased a nice looking "gift box"
There are tons of round holograms on eBay...
If you want to roll your own private key, just pick from any of them. If I give out unused holograms, that compromises all the other coins I have made. Casascius hologram means only Casascius has seen the private key, it wouldn't mean that anymore if I passed them out freely.
If you want to roll your own private key, just pick from any of them. If I give out unused holograms, that compromises all the other coins I have made. Casascius hologram means only Casascius has seen the private key, it wouldn't mean that anymore if I passed them out freely.
Yup, forget that suggestion. I'm not sure what I was thinking.
So how much are you selling the blank bars for?
Casascius designed a sophisticated way to materialize bitcoins for off-line use. This idea will catch on someday and these collectable pieces will be among the first. I don't know what happened to Bitbills. Anyone can roll their own offline bitcoin, but they may not have the acceptability of Casascius coins unless the holos are customized and applied by a mensch like Casascius.
There are tons of round holograms on eBay...
If you want to roll your own private key, just pick from any of them. If I give out unused holograms, that compromises all the other coins I have made. Casascius hologram means only Casascius has seen the private key, it wouldn't mean that anymore if I passed them out freely.
If you want to roll your own private key, just pick from any of them. If I give out unused holograms, that compromises all the other coins I have made. Casascius hologram means only Casascius has seen the private key, it wouldn't mean that anymore if I passed them out freely.
While I trust Mike Caldwell a lot, there is still a possibility that he's keeping the private keys (I'm not suspecting he does, but it's a possibility). So there's still a trust issue involved. I wouldn't confidently use the 100 BTC coins for storage of my wealth.
I don't quite understand why you say it'd be somehow safer to deal in physical bitcoins than in virtual ones. The problem with paypal does not lie in the delivery of the bitcoins, but mainly in the reversibility of paypal transactions and the fact that paypal does not guarantee to keep your account usable. Did I misunderstand something?
The increased perceived risk at 100 BTC is understandable and was anticipated. So this bar comes in 2 versions, a 100 BTC one, and a blank one where you roll your own private key and denominate it yourself.
Normally people aren't going to be transacting the bars face to face so it is less of a concern whether it has a casascius hologram. The main attraction of the bar is how it looks and as a savings wallet. In my view, if you CAN produce your own private key, you should. There are tons of designs of generic holograms on eBay (diameter 1 inch or 25.4mm, I thought I saw a gold "fireworks" one the other day) or you could just use a regular foil sticker.
As for physical goods, credit cards and PayPal tend to give leverage to sellers who can prove they shipped physical goods to the buyer's confirmed address especially if the buyer had to sign for them.
For the blank one, you should include an unused hologram that we can just stick to the bar to hide our private key. And maybe give us an option to specify a public key to print on the hologram.
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