The first bits address you will be able to look up on the litecoin block chain. This has always been an option to verify funds.
I will release a public list of funded addresses in the near future. This way you can cross check to see if the coin being resold (assuming you are buying from someone else besides me) does in fact have coins at the specified address.
Each coin comes with a certificate with the FULL ADDRESS of the coin too.
actually, the opposite list would probably be better.
one that lists the coins you did NOT fund due to loss or theft. should be much, much shorter.
I know smoothie is no Mike,
but all of mikes coins get funded once they get to the wild even if lost/stolen. The point of this for Mike was to be a physical BTC coin that could be trusted in trade when internet was not around. You can't get a "real fake".
I understand smoothie might be doing something different and expects people to only use this as a collectable and never resell them.
Anyway, it is nice that he was very clear on his policy so we know what we are getting.
Please provide a link to prove your bolded claim above. Thanks.
(
This is assuming the coins get stolen/lost before they reach the original buyer.)
I don't have time to do a google search for you but all coins get funded. (Exception might be the 2fa coins). There are none in the wild that have not been funded.
If so it would be nice to "steal" ones own package so you truly had something rare.
Hence registered mail pretty much ensures it gets to the original buyer. So far a stolen registered mail package of my coins has not manifested itself nor from what Mike has claimed has any package been stolen. One was misdirected and resent back to his mailing address. So to date I know of ZERO coins of his that were stolen during shipment.
This scenario we are talking about has not happened yet as far as I am aware.. From what I gather Mike just announced that he will be funding his recent batch of shipments (that have or are going out soon) once they are confirmed to have been received by the original buyers.
I see no difference in how I am handling this, other than I may be using more than 1 transaction to fund the purchased coins initially.
Casascius has been sending unfunded coins for a long time now, for the simple reason that there is a risk of theft in mail - a risk much higher than Casascius being randomly killed.
no, the reason is import tax and customs fees and stuff. He will fund the coins even if they get stolen.
If USPS or FedEx certifies they actually lost a shipment in transit that I sent (a privilege I reserve exclusively for things I personally ship) then I will not make the buyer eat it. With the premium shipping options I offer, this is sometimes/usually possible.
With Registered Mail in the US it is practically guaranteed. Note that it only applies when they actually know they lost it and certify it in writing as part of their claims process, and not just when the tracking fails to say delivered.
I have only had this happen once before - USPS certified a shipment was lost - and then 3 months later it actually came back to me as "unclaimed". But I replaced that order.
I think what I am going to do is, when I get all these initial orders shipped, I may wait to fund them so that the FIRST funding transaction funds as many as possible, to give them "first batch" distinction. That might mean that those who get them the quickest might have to wait 7-10 days for me to fund them to let others catch up. I'm curious on others' opinions. If I don't do this, then only US buyers would have a chance to get "first batch" coins because theirs will arrive the fastest.
If I do this, I will at least publish where the funds are, so everyone can see they're just sitting there and not accruing "interest" in a ponzi scheme.
(These won't have incrementing addresses like my newest brass coins do... I will just be using the 1Ag* addresses I already generated long ago, in truly random order, since I have so many of them that aren't used)