Topic: Mint Bitcoins - no transaction history. (Read 905 times)

Quite true there really is no difference between a newly minted coin and a regular coin otherwise Bitcoin would not have fungibility.
It would be more along the lines of showing off than anything else and saying that some coins are tainted and wanting to own newly minted ones to keep a form of transaction purity.
(I guess from that point of view though one day old Canadian pennies will become collectible so Bitcoins first minted in 2009-2010 may become a niche market if they are held and stored and sold as a package like random satoshi coins)

Only way I see this logic being revived is if they go back to Casascius coins.

Try Bitmixer as they are offering newly generated Bitcoins, I heard or read some where that they are either in contract with a miner(s) or they are mining themselves which allows them to spend the old and used coins as fees and mine them.

I don't know how accurate that information is but it sounds logical for a big mixer like them to do this.

One thing about Bitcoin that it will never become a true physical coin and only newly generated coins have no transaction history. how does it work you provide them an address and they load it, private key is still known to you only correct?

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A minor update from BTCC

They got back to me re their "Minted Coins", physical BTC in titanium (also some in plastic):

https://mint.btcc.com/

An example in titanium:

https://store.btcc.com/collections/one-bitcoin

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I then wrote back asking for coins ONLY from their wallet address (the one that collects "Newly Generated Coins"):

152f1muMCNa7goXYhYAQC61hxEgGacmncB          

Do recall that they are a big outfit so they may not want to sell BTC from there.  Also, their native language is not English (but their English is MUCH better than my Chinese).

So, I will wait on their next reply.
  
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Perhaps other miners might sell "freshly minted coins"?





EDIT / UPDATE:

Their 1 BTC titanium coins apparently have uncirculated BTC:

"Mint coins make the ideal collector’s items with their unique material, design, and uncirculated bitcoins."

https://store.btcc.com/collections/one-bitcoin/products/2016-v-series-one-bitcoin-set-of-five

Price for five pieces of one BTC each: 5.50 BTC (10% premium).

This is exactly why I say a premium of 25% is.good for fresh coins.  

I am mining a bit of fresh Bitcoins and even at 25%, I am going to hang on to them.  Imagine 10-20 years from now the potential premium.

...

Hey, I sent them an email and got an answer back asking for clarification.  So, I pointed them to this thread and asked them specifically if they would sell 5 (newly generated) BTC for 6 of mine...

ANYONE else interested in this (as I do not have 12.5 BTC, please PM me ASAP.  

Maybe we could do some kind of joint purchase (I buy some, the next guy buys some, etc. until we reach 12.5).

Hey, never know, they might become Collector's Items...

I sense that a collectible market could emerge for freshly mined Bitcoin...  If BTCC sold some at +/- 24% premium, then there would likely be more such sales at a higher premium in the future, particularly if:

1) more people join the Bitcoin Community (likely IMO, esp. if they fix the scaling problems)
2) as the halving process continues, such "freshly mined" BTC will continue to get even rarer.

Hmm, a contact with BTCC might be worthwhile, leading to an even more interesting speculation than just "plain ol' BTC".

If anyone has more info, contacts or suggestions, please let us know.

Sure would love to get some real feedback from knowledgeable Bitcoiners.  I personally believe that a 20-25% premium for fresh mined Bitcoins with no transaction history. 

To provide more support for my premium, take a look at BTCC - they were selling fresh mined blocks of 25BTC for 31BTC.  That is almost a 25% premium.

Some more knowledgeable input would be greatly appreciated!

@cpfreeplz

You must be unaware that Bitcoins with no transaction history [" No inputs (Newly generated coins) "] are far more valuable than Bitcoins with previous transactions.

Please see image if you are unfamiliar with such coins = http://imgur.com/a/kS1Y7

" These coins will most likely appeal to investors primarily as a collectible, much like the first strike of a physical coin. "

“ Fresh Bitcoins are more limited in supply than used Bitcoins, anything with a limited supply usually gains in value. ”

" For collectors, the perceived advantage of owning fresh coins reflects the limited supplies. For others, new coins without transaction histories are more desirable than used coins with longer and unknown histories. A brand new coin has no ties to illicit transaction, and has never been stolen or used to buy illegal items, unlike coins used on the Silk Road. "

Source: https://bravenewcoin.com/news/mint-sells-bitcoins-direct-from-miners/

1 Bitcoin only equals 1 Bitcoin is that coin has had previous(long trail) of public transaction history.  The coins I speak of, literally are fresh from a Miner and if bought, the only transaction shown on the public ledger would be from "No Inputs (Newly Generated Coins)" to your Bitcoin wallet address.

What makes these coins even more scarce is the fact that 90% of the Bitcoin mining pools do not generated their rewards from the coinbase.  Instead, when a reward is paid to the pool, the reward is send directly to the pool operators Bitcoin wallet address and then from there distributed to the miners of the pools.  Good luck trying to buy these "Fresh Mint" coins directly from big pools yourself! 

Have you ever been able to mine a full coin by renting hardware from mining rig rentals? I think you have to spend more than 1 bitcoin to mine 1 bitcoin renting any of the available hardware there.

I think using bitcoin mixers is enough to remain anonymous, why to pay more for same bitcoin.

Some derpy nerd will pay more than 1 bitcoin for 1 bitcoin. Why? Who knows. 1 bitcoin is worth 1 bitcoin, if you pay anything more you are throwing away money.

I have some Canadian pennies for sale if anyone would like to buy them for 2 cents each! Lol!

How can a Bitcoin be Mint ? I think this is only possible when you are mining with S9 Antminers as when you mine with graphic cards you have to exchange your altcoin for bitcoins or to be paid by Nicehash directly in bitcoin. The option with graphic cards cannot be mint I guess so only persons mining with a S9 can offer those coins.
I would not pay that much of a premium for them though, maximum 5% over market price of preev or bitstamp.

Even if someone rented a rig, they would not get a ROI on renting.  Hardly get a ROI when buying mining rigs direct.  Thanks for spamming your rentals in my thread though.

Even when buying rigs direct, 90% of the mining pools do not reward from coinbase...instead, the full reward is sent to their wallet address and then they will send miners their shares from that wallet address.  If buyer would buy from those miners shares, they would be the 3rd transition.  You would have to buy directly from mining pools or miners who get rewarded direct from the coinbase.

Mining Pools chances are already have their coins sold before they are even mined.

Seeing as there are less Bitcoin with no transaction history, these are very rare.  I would assume a 20-25% premium is in the right range?

The buyer would have a trail from "no transaction history" to their wallet address.  Technically, the only history would be to their wallets address.

Nope, it is just that you may pay more than 1 btc (say 1.1 btc) for 1 bitcoin. The 'premium' is only due to the fact that it is freshly mined.
You can always spend it. But you may find it difficult to sell it for 1.1 btc (the price you have paid).

Permit me. I want to get an understanding does it mean when I get for example a 1btc coin, will the value now decrease to say 0.09btc? Also, I want to ask on the coin, will there be a way to redeem it and covert to the coins we all transfer into our individual wallets? An answer will be appreciated because I have seen some auction done for physical bitcoins which I have require more information.

From time to time I also want to use clean/new coins and usually there is a much more cheaper option - Hire someone's hardware to mine you some.

Check this site - https://www.miningrigrentals.com/
Also, you could find some topics in this forum for users, renting their Rigs.

Yeah, I'd be interested too.  Coins with no history.  There is some value (determined by the Buyer) to such BTC.  I too would be curious to know the premium for such newly minted BTC.

If anyone knows a mining pool/owner willing to sell, please let us know.  I'd pay extra for brand new, "Mint Condition" Bitcoin.

It is a collectible. There is no good way to value them.
Bear in mind that once you buy them, the bitcoins are transferred to you and the value decreases.

Hello,

I would like you input on a valuation for Mint Bitcoins with no transaction history.

Mint is offering fresh coins, has anyone bought from them¿

What would be a good premium for these?