How would Casascius coins fare in a hard fork?

Lincoln6Echo

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Don't use bitcoin.de if you care about privacy!

Quote from: JUPITYR on May 30, 2017, 09:17:43 PM

If everything said above is true, then paper wallets, coins, digital wallets are actually the best place to keep your BTC. If you coins are on an exchange and that exchange sides with the "loser" of the fork, then they could be worth far less. At least with Cas et al you have some options.

Sound about right?

Yes absolutly correct! So buy shiny cas coins to avoid fork hassle. Cheesy

JUPITYR

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If everything said above is true, then paper wallets, coins, digital wallets are actually the best place to keep your BTC. If you coins are on an exchange and that exchange sides with the "loser" of the fork, then they could be worth far less. At least with Cas et al you have some options.

Sound about right?

HabBear

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Quote from: cwil on April 20, 2017, 08:23:40 PM

Some people are worried that a fork would lower confidence in bitcoin, which could drive down its value. Other people don't think that'd happen, and are not worried.

Well I don't think there's any doubt that if there are two versions of bitcoin, one will go up or sustain value and the other will lose value. The detail I was totally in the dark on was the fact that we'd be receiving coins in each version, on each blockchain...in which case there's nothing to worry about (that I know of). As long as I'm participating on both sides I'm not longer fearful.

But, everyone is making a huge deal out of it otherwise and I suspect it's not over the easy misconception I had.

cwil

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Quote from: HabBear on April 20, 2017, 07:47:05 PM

You don't mention anything about receiving coins in both blockchains. But I realize now that you do say the existing coin can then also be spend on chain B...implying two sets of coins. Sorry for my overlooking of that detail.

I feel much better about this now.

So why is everyone worried about the idea of a hard fork?

Some people are worried that a fork would lower confidence in bitcoin, which could drive down its value. Other people don't think that'd happen, and are not worried.

HabBear

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Hey man, here's your quote:

Quote from: SolarSilver on April 19, 2017, 01:19:16 AM

So if after a fork, chain A (old) and chain B (new) exist, you can spend it on the A chain and then also spend it on chain B. The value you will get from each spend will be different, depending on how many people decide to honour the A or B chain. The sum of value of spend(A) and spend(B) will probably be lower than the original value before the fork because a fork will affect confidence in both

You don't mention anything about receiving coins in both blockchains. But I realize now that you do say the existing coin can then also be spend on chain B...implying two sets of coins. Sorry for my overlooking of that detail.

I feel much better about this now.

So why is everyone worried about the idea of a hard fork?

Quote from: SolarSilver on April 20, 2017, 12:06:24 AM

That is not what I said

I said: you get twice as many coins, because you can spend them on both chains. But the value of both chains together will probably be lower than the current value before the fork

And no, there is no reason to sell now, just wait if (and if) there is a fork, hold until one becomes dominant and trust (value) will return and the deflationary property of Bitcoin will drive up prices again, given enough time

SolarSilver

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Quote from: HabBear on April 19, 2017, 09:59:07 PM

So if the hard fork happens, BU becomes dominant, all of us holding Casascius coins are fucked? (Because the value of "old chain" coin is likely to go down). Great. That's what I was worried about.

One consequence you're leaving out is that the value of the losing chain won't have much confidence in it afterward, will it? So that lost value isn't likely to come back, it's likely to crash.

So are you holding or dropping out until the hard fork happens?

That is not what I said

I said: you get twice as many coins, because you can spend them on both chains. But the value of both chains together will probably be lower than the current value before the fork

And no, there is no reason to sell now, just wait if (and if) there is a fork, hold until one becomes dominant and trust (value) will return and the deflationary property of Bitcoin will drive up prices again, given enough time

HabBear

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It acts like a paper wallet, but it's actually the first physical coin created that has the private key of a wallet attached to a hologram affixed to the coin. They were first sold "loaded", with bitcoin loaded on the wallet. They were produced from 2009 to 2013, but then the creator (Mike Caldwell) stopped. To continue to create them would have required he meet some fairly strict and official Federal currency regulations. Google it and you'll find all sorts of information on them.

Quote from: ankit10 on April 19, 2017, 11:42:59 PM

Can anyone tell me what is Casascius coins i heard many people selling and buying that coin in large or huge amount someone told me that casascius coin are "paper wallet"really it as paper wallet?we can add our bitcoin their? And how much price to buy new one and from where we can buy that

chronicsky

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Just looking for peace

Quote from: ankit10 on April 19, 2017, 11:42:59 PM

Can anyone tell me what is Casascius coins i heard many people selling and buying that coin in large or huge amount someone told me that casascius coin are "paper wallet"really it as paper wallet?we can add our bitcoin their? And how much price to buy new one and from where we can buy that

They are first ever famous and beautiful physical coins with funded bitcoins in them, made by mike .
https://bitcointalksearch.org/user/casascius-2676

They come in many types like 0.1 btc funded silver coin to 1000 btc funded bar/coin

ankit10

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Can anyone tell me what is Casascius coins i heard many people selling and buying that coin in large or huge amount someone told me that casascius coin are "paper wallet"really it as paper wallet?we can add our bitcoin their? And how much price to buy new one and from where we can buy that

HabBear

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Yeah, i got that. That's some scary shit. But he also said that (in the context of Cas coins) that they can be spent on either blockchain, implying that the holder has the choice to sell on the blockchain with the most valuable rate. Where's the truth in this statement?

It's funny because if you ask Roger Ver he'll say - there isn't going to be two blockchains. Yet he won't explain much about why.

Quote from: ezeminer on April 19, 2017, 11:22:36 PM

Quote from: HabBear on April 19, 2017, 09:59:07 PM

Quote from: SolarSilver on April 19, 2017, 01:19:16 AM

Quote from: HabBear on April 19, 2017, 12:53:32 AM

What happens to Casascius coins if a hard fork occurs and two separate version of bitcoin exist, where Bitcoin Core loses?

Would this make the loaded value of Casascius coins significantly less valuable?

Casascius coins are basically a paper wallet. Any bitcoin, either in a live wallet or paper wallet can be spent on both chains that form after a hard fork.

So if after a fork, chain A (old) and chain B (new) exist, you can spend it on the A chain and then also spend it on chain B. The value you will get from each spend will be different, depending on how many people decide to honour the A or B chain. The sum of value of spend(A) and spend(B) will probably be lower than the original value before the fork because a fork will affect confidence in both

So if the hard fork happens, BU becomes dominant, all of us holding Casascius coins are fucked? (Because the value of "old chain" coin is likely to go down). Great. That's what I was worried about.

One consequence you're leaving out is that the value of the losing chain won't have much confidence in it afterward, will it? So that lost value isn't likely to come back, it's likely to crash.

So are you holding or dropping out until the hard fork happens?

I think he meant to say something more like using this example.

Say you have 1,000 stock in one company. That company splits in two and you gain stocks in both companies at 1,000 in both companies.

But one company will likely be way more popular than the other, thus making 1,000 of your stocks worth a lot more and 1,000 worth little to nothing.

Personally I enjoy to hodl with the bitcoin rollercoaster.

ezeminer

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Lie down. Have a cookie

Quote from: HabBear on April 19, 2017, 09:59:07 PM

Quote from: SolarSilver on April 19, 2017, 01:19:16 AM

Quote from: HabBear on April 19, 2017, 12:53:32 AM

What happens to Casascius coins if a hard fork occurs and two separate version of bitcoin exist, where Bitcoin Core loses?

Would this make the loaded value of Casascius coins significantly less valuable?

Casascius coins are basically a paper wallet. Any bitcoin, either in a live wallet or paper wallet can be spent on both chains that form after a hard fork.

So if after a fork, chain A (old) and chain B (new) exist, you can spend it on the A chain and then also spend it on chain B. The value you will get from each spend will be different, depending on how many people decide to honour the A or B chain. The sum of value of spend(A) and spend(B) will probably be lower than the original value before the fork because a fork will affect confidence in both

So if the hard fork happens, BU becomes dominant, all of us holding Casascius coins are fucked? (Because the value of "old chain" coin is likely to go down). Great. That's what I was worried about.

One consequence you're leaving out is that the value of the losing chain won't have much confidence in it afterward, will it? So that lost value isn't likely to come back, it's likely to crash.

So are you holding or dropping out until the hard fork happens?

I think he meant to say something more like using this example.

Say you have 1,000 stock in one company. That company splits in two and you gain stocks in both companies at 1,000 in both companies.

But one company will likely be way more popular than the other, thus making 1,000 of your stocks worth a lot more and 1,000 worth little to nothing.

Personally I enjoy to hodl with the bitcoin rollercoaster.

HabBear

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Activity: 1106

Merit: 638

Quote from: SolarSilver on April 19, 2017, 01:19:16 AM

Quote from: HabBear on April 19, 2017, 12:53:32 AM

What happens to Casascius coins if a hard fork occurs and two separate version of bitcoin exist, where Bitcoin Core loses?

Would this make the loaded value of Casascius coins significantly less valuable?

Casascius coins are basically a paper wallet. Any bitcoin, either in a live wallet or paper wallet can be spent on both chains that form after a hard fork.

So if after a fork, chain A (old) and chain B (new) exist, you can spend it on the A chain and then also spend it on chain B. The value you will get from each spend will be different, depending on how many people decide to honour the A or B chain. The sum of value of spend(A) and spend(B) will probably be lower than the original value before the fork because a fork will affect confidence in both

So if the hard fork happens, BU becomes dominant, all of us holding Casascius coins are fucked? (Because the value of "old chain" coin is likely to go down). Great. That's what I was worried about.

One consequence you're leaving out is that the value of the losing chain won't have much confidence in it afterward, will it? So that lost value isn't likely to come back, it's likely to crash.

So are you holding or dropping out until the hard fork happens?

chronicsky

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Merit: 1222

Just looking for peace

Quote from: HabBear on April 19, 2017, 12:53:32 AM

What happens to Casascius coins if a hard fork occurs and two separate version of bitcoin exist, where Bitcoin Core loses?

Would this make the loaded value of Casascius coins significantly less valuable?

Well if bitcoin core loses(lol), that means the btu becomes the real deal and cas will have btu and it will work as it is working since

SolarSilver

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Quote from: HabBear on April 19, 2017, 12:53:32 AM

What happens to Casascius coins if a hard fork occurs and two separate version of bitcoin exist, where Bitcoin Core loses?

Would this make the loaded value of Casascius coins significantly less valuable?

Casascius coins are basically a paper wallet. Any bitcoin, either in a live wallet or paper wallet can be spent on both chains that form after a hard fork.

So if after a fork, chain A (old) and chain B (new) exist, you can spend it on the A chain and then also spend it on chain B. The value you will get from each spend will be different, depending on how many people decide to honour the A or B chain. The sum of value of spend(A) and spend(B) will probably be lower than the original value before the fork because a fork will affect confidence in both

HabBear

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Activity: 1106

Merit: 638

What happens to Casascius coins if a hard fork occurs and two separate version of bitcoin exist, where Bitcoin Core loses?

Would this make the loaded value of Casascius coins significantly less valuable?

Topic: How would Casascius coins fare in a hard fork? (Read 905 times)