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Topic: Press Release: New Physical Bitcoin Goes on Sale January 2 at AlitinMint.com (Read 3795 times)

sr. member
Activity: 315
Merit: 250
Trust me, i'm a professional. Also please pass a message to your wife for me, tell her she's due another checkup, i'll be able to see here tomorrow at 11, don't worry, i'm a proffessional, you have my word. She's in good hands, or is that good hands are in her,  i'm always getting that mixed up.... okay sorry to bring it to that crude level, i'll stop talking shit now (well i'll try anyway).

I have no idea if it would be feasable to even render such a fine detail resolution from high frequency sound waves traveling through air (or gorrillla snot if we wanted something denser) and whatever the shielding material a few mil distance.
I could wildly speculate that the untrasound  for human filth worm babies would have to penete a lot deeper, and cover a broader area, possibly a small focused tranceducer, at higher frequency might could give a higher resolution for a much smaller focal area, or its possible that the denser metal would produce a more defined reflection than a human worm baby in the womb might too.

id have some ingnorant wild speculations using radiowaves too.
i'd find it interesting finding out just how woefully wrong i am though. If i thought i already knew the answer then i'd no longer find it  interesting (and i'd still be wrong but too stupid to relise it).

The risk of someone reading the privkey in this manner is easily mitigated by just buying directly from the manufacturer instead of reseller, and then keeping it safe yourself.
So it's no big issue either way, i just find it interesting at it is good to know it's secure too, i'd love to hear some oppinions of anyone who has a better understanding then me on this subject (which is most) or anyone who doesnt.

Yes my extensive knowledge for geography enabled me to recognise from the name alone that was likely somewhere in USA, not everyone can be expected to know every province in every country like i do though (okay i don't realy, that was bullshit too, you  would likely know more on than me).

[rant]
For anyone without supper geogirafey knowledge like me, they would have to google that vague location found on the about-us page of that site.
For example, i live in Nowra, New South Wales.
When you are browsing a site which is wasting your time cos it doesn't just tell you where it is located in the world, you navigate to the about-us page, loosing concentration on current task, and thankfuly the about-us page lists the address, and oh fuck me that "Nowra, New South Wales" is like tits on a fucking bull, close to fucking useless but hey maybe if you pull on them hard enough (googlesearch the address) then you might just find what your looking for (the country name).
Sadly this time i woke up stone cold in the paddock aching like i'd been knocked out by an angry bull (the no international shipping info on any page, i just read every fucking sentance b , time i'd have better spent milking a cow and drinking delicious fresh milk, now where the fuck was i before i started this pointless endevour?... ah fuckit ).
and fuck analogies too!

It's just fucking inconsiderate .
[/rant]


 



"supper geogirafey knowledge" lol  Grin
newbie
Activity: 29
Merit: 0
[edit - Warning! Intoxicated obscenities herein]

Quote
With all due respect, I'm surprised that a "professional gynecologist" would be actually think that any ultrasonic or electromagnetic detection device would be capable of deciphering a private key engraved on the edge of a coin.  Given the fact that you can't even determine the gender of a fetus before 17 weeks, what makes you think that ultrasound could read an engraving only 2 or 3 thousandths on an inch deep on a curved metallic surface?

Trust me, i'm a professional. Also please pass a message to your wife for me, i'll be able to see here tomorrow at 11.
Don't worry i'm a professional. She's in good hands, or is that good hands are in her!.... okay sorry to bring it to that crude level, i'll stop talking shit now (well i'll try anyway).
 [edit]
just wanted to clarify that i do not intent to insult or offend you in any way there. I was just meaning to say that I most certainly am not qualified in any medical profession, and it's never wise to trust someones wild claims without checking some 3rd party reference  material to correlate or said claims somewhat.
I was just talking crap on account of my being a raving lunatic, trust me i've got the certificate in the field of lunacy.
[/edit]

I have no idea if it would be feasable to even render such a fine detail resolution from high frequency sound waves traveling through air (or gorrillla snot if we wanted something denser) and whatever the shielding material a few mil distance.
I could wildly speculate that the untrasound  for human filth worm babies would have to penete a lot deeper, and cover a broader area, possibly a small focused tranceducer, at higher frequency might could give a higher resolution for a much smaller focal area, or its possible that the denser metal would produce a more defined reflection than a human worm baby in the womb might too.

id have some ingnorant wild speculations using radiowaves too.
i'd find it interesting finding out just how woefully wrong i am though. If i thought i already knew the answer then i'd no longer find it  interesting (and i'd still be wrong but too stupid to relise it).

The risk of someone reading the privkey in this manner is easily mitigated by just buying directly from the manufacturer instead of reseller, and then keeping it safe yourself.
So it's no big issue either way, i just find it interesting at it is good to know it's secure too, i'd love to hear some oppinions of anyone who has a better understanding then me on this subject (which is most) or anyone who doesnt.

Quote
As far as the location of Alitin Mint... They are headquartered in Springfield, Missouri...it's on the website.  I didn't see anything about international shipping, though.


Yes my extensive knowledge for geography enabled me to recognise from the name alone that was likely somewhere in USA, not everyone can be expected to know every province in every country like i do though (okay i don't realy, that was bullshit too, you  would likely know more on than me).

[rant]
For anyone without supper geogirafey knowledge like me, they would have to google that vague location found on the about-us page of that site.
For example, i live in Nowra, New South Wales.
When you are browsing a site which is wasting your time cos it doesn't just tell you where it is located in the world, you navigate to the about-us page, loosing concentration on current task, and thankfuly the about-us page lists the address, and oh fuck me that "Nowra, New South Wales" is like tits on a fucking bull, close to fucking useless but hey maybe if you pull on them hard enough (googlesearch the address) then you might just find what your looking for (the country name).
Sadly this time i woke up stone cold in the paddock aching like i'd been knocked out by an angry bull (the no international shipping info on any page, i just read every fucking sentance b , time i'd have better spent milking a cow and drinking delicious fresh milk, now where the fuck was i before i started this pointless endevour?... ah fuckit ).
and fuck analogies too!

It's just fucking inconsiderate .
[/rant]


 [edit - should i delete/cleanup that post/dribble?]
member
Activity: 86
Merit: 10
Hmm, this does look and sound like well designed products.
I do have a few issues/questions that I have misgivings about though.

*I'd like to hear some more info and opinions on the security of the engraved privkey, and also the results of attempts to read privkey off the coin rim without breaking the seal.
    Couple simple tests i can think of:  
    Bouncing various ultrasonic/electromagnetic/light frequencies  off the coin edge at various angles (and temperatures) to see if can get a readable image through the shielding material.
    Reading magnetism/diamagnetism around the coin edge (would a hdd head pickup anything for example?)
    Physically deforming the plastic or shielding itself to read past it.

* The provided info here and on the website is lacking a lot of important information such as; any real technical details, any external references or info to backup the claims of  compliance with  regulations and licensing (as a money transmitter). So all were given to go on is their word. Being a highly skilled professional gynecologist myself, I'm often telling clients that they can trust me when i say I'm qualified.

* Nowhere have a found mention of what country they are located-in/shipping-from, nor a single mention of international shipping info.
   I'm able to deduce that they are located in USA by using my advanced knowledge of international geographic locations to recognize some of the names given at ( https://www.alitinmint.com/alitinmint/Home/About )
   [rant] And also by the fact that they don't seem to comprehend the Internet is worldwide (sorry), so advertising a product on the internet without providing this important country/shipping infomation is incompetent a best.
   Even slightly insulting that they did not even consider how seriously annoying it is for anyone (except own countrymen i guess), wasting a lot of my time.
   That said, USA is not the only culprit of failing to consider anyone past thier own patriotic ignorance, failing to provide required details on website (though by far the worst offender i'd say). I have seen sites from my home country and other international companies websites fail to clearly show locations and shipping info, though rarely have I been abl to find the locations country at all and any international shipping information  at all. [/rant]

So while the coin looks great astheticly, and the security could be acceptable if done correctly, theres no actual technical details provided to even speculate on security of physical coin, theres no references to prove any trust in the company and its claims at all, and whilst i dont care for reculatons complience and liscencing so much, i do care about the security of the key at manufacture, do they have a database with all the private keys on the coins whcih they will steal when it suits them? Wll the lackingl details and narrowminded incompetencies of the website don't seem very preffesional, and that says a lot more than a pretty coin and plastic case does to me.
The coin/case does look very well designed and thoughtout though, i'd prolly still pickup one myself,  just to test myself which would likely end in breaking it open and transfering coins out for sience (or  for security if needed).
With all due respect, I'm surprised that a "professional gynecologist" would be actually think that any ultrasonic or electromagnetic detection device would be capable of deciphering a private key engraved on the edge of a coin.  Given the fact that you can't even determine the gender of a fetus before 17 weeks, what makes you think that ultrasound could read an engraving only 2 or 3 thousandths on an inch deep on a curved metallic surface?

As far as the location of Alitin Mint... They are headquartered in Springfield, Missouri...it's on the website.  I didn't see anything about international shipping, though.

Maybe they should document of their website that they have a money transmitter license...I know that Richard Forsyth did say on this thread that they are fully licensed.  If you google "Alitin Mint", I think you can see that they are licensed.  That should be a comfort to those who are skeptical of an unknown company, because they must have invested significant resources to obtain licensure.
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
Did you email these concerns and quesions to them?  Please post their response when they get back to you.  Thanks!
newbie
Activity: 29
Merit: 0
Hmm, this does look and sound like well designed products.
I do have a few issues/questions that I have misgivings about though.

*I'd like to hear some more info and opinions on the security of the engraved privkey, and also the results of attempts to read privkey off the coin rim without breaking the seal.
    Couple simple tests i can think of:  
    Bouncing various ultrasonic/electromagnetic/light frequencies  off the coin edge at various angles (and temperatures) to see if can get a readable image through the shielding material.
    Reading magnetism/diamagnetism around the coin edge (would a hdd head pickup anything for example?)
    Physically deforming the plastic or shielding itself to read past it.

* The provided info here and on the website is lacking a lot of important information such as; any real technical details, any external references or info to backup the claims of  compliance with  regulations and licensing (as a money transmitter). So all were given to go on is their word. Being a highly skilled professional gynecologist myself, I'm often telling clients that they can trust me when i say I'm qualified.

* Nowhere have a found mention of what country they are located-in/shipping-from, nor a single mention of international shipping info.
   [rant] I'm able to deduce that they are located in USA by using my advanced knowledge of international geographic locations to recognize some of the names given at ( https://www.alitinmint.com/alitinmint/Home/About )
    And also by the fact that they don't seem to comprehend the Internet is worldwide (sorry), so advertising a product on the internet without providing this important country/shipping infomation is incompetent a best.
   Even slightly insulting that they did not even consider how seriously annoying it is for anyone (except own countrymen i guess), wasting a lot of my time.
   That said, USA is not the only culprit of failing to consider anyone past thier own patriotic ignorance, failing to provide required details on website (though by far the worst offender i'd say). I have seen sites from my home country and other international companies websites fail to clearly show locations and shipping info, though rarely have I been abl to find the locations country at all and any international shipping information  at all. [/rant]

So while the coin looks great astheticly, and the security could be acceptable if done correctly, theres no actual technical details provided to even speculate on security of physical coin, theres no references to prove any trust in the company and its claims at all, and whilst i dont care for reculatons complience and liscencing so much, i do care about the security of the key at manufacture, do they have a database with all the private keys on the coins whcih they will steal when it suits them? Wll the lackingl details and narrowminded incompetencies of the website don't seem very preffesional, and that says a lot more than a pretty coin and plastic case does to me.
The coin/case does look very well designed and thoughtout though, i'd prolly still pickup one myself,  just to test myself which would likely end in breaking it open and transfering coins out for sience (or  for security if needed).


well, that's just my ignorant observations, speculation, slander and complaints anyway, i'd not believe a word of it if myself.
member
Activity: 70
Merit: 10
+Pro Traders on LocalBitcoins.com
Got mine yesterday:





The quality of the coin/medal is very good. High relief with lots of detail, and a two oz coin is really a nice size. The slab is as secure as any other slab I've ever seen, and with the wallet printed on the slab and engraved into the coin, and a scannable QR code, it should never be a problem to verify the balance. I did verify the balance on blockchain and sure enough it is loaded with 2 BTC. Lastly, I think it's really neat that on the rear of the slab the coin is individually numbered, mine is #51 of the first 600 struck. Overall I'm really happy with the coin and think it makes an excellent addition to my collection.

Wow, I'm quite blown away. I've never thought of purchasing physical bitcoins until I seen these. I'm completely amazed at how simple the idea is of concealing the private key, which I mean simple as in just being on the side of the coin. That was an ingenious idea, because just as they stated, it will not ruin the coins aesthetics when they are redeemed.

The price I thought at first was somewhat high that being 2.9 BTC for a 2 oz Silver coin loaded with 2 bitcoins but then I seen the pictures. Completely jealous after seeing that people own these coins now. Just looking at the pictures that I quoted goes to show a lot about that company and their mint. This is 101% fine artisan work and each one is truly honed down to perfection. The security steps they took were also very clever as well, with pretty much a 3 part safety system. They have created a physical bitcoin that is beautiful to the eye, unique, and one of the most secure to date yet they still have made the process of redeeming the coin and verifying it's balance very easy.

I'm dead set on owning at least one of these in the near future and I do believe these coins set the new standard. I'm proud to see a product of this caliber being released by some new faces within the community. This just goes to show that every part of Bitcoin is slowly improving and being built upon, even the physical coins. The prompt replies and thorough detailed explanations by the founder or face of the company were also very positive. I believe these gentlemen have a prosperous future ahead of them and I would be more than willing to support and/or invest in their company. I like their attitude and product that they delivered which was spot on with how they described it: True Quality.
member
Activity: 86
Merit: 10
That is a very impressive coin...by far the highest quality I've seen.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
Very nice indeed! I'm drooling sort of.  Grin
sr. member
Activity: 315
Merit: 250
Got mine yesterday:





The quality of the coin/medal is very good. High relief with lots of detail, and a two oz coin is really a nice size. The slab is as secure as any other slab I've ever seen, and with the wallet printed on the slab and engraved into the coin, and a scannable QR code, it should never be a problem to verify the balance. I did verify the balance on blockchain and sure enough it is loaded with 2 BTC. Lastly, I think it's really neat that on the rear of the slab the coin is individually numbered, mine is #51 of the first 600 struck. Overall I'm really happy with the coin and think it makes an excellent addition to my collection.
member
Activity: 86
Merit: 10
These are the only physical bitcoins I've ever purchased. (should receive them any day)  I love the fact that they've got quality art as well as collectible value.  ...and the case really does look tamper proof.
sr. member
Activity: 353
Merit: 250
legendary
Activity: 1064
Merit: 1000
Bitcoin is too valuable to be used as a currency
looks nice, too bad I have no more to spend at the moment...
hero member
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full member
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Cryptographic money will be the bedrock in time.


I bought 10 of them. Here is a picture of one.

Case looks very carefully sealed. Very pretty.

They publish all of the public addresses on their website as they ship them. I got an early one because I am related to the artist and because I bought a larger amount.

I will be handing them down to my children.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper


Not sure if I would ever claim that something is "Tamper-proof" as nothing is tamper-proof if attackers are given enough time and resources to find ways around security mechanisms.

Other than that this is an interesting concept/project.

 Smiley
There are certainly levels of tamper-resistance, and I think these coins appear far more tamper resistant than any other physical bitcoins out there.  
First, if the cases cannot be entered without breaking them, then the crook must somehow manufacture his own identical cases... That is, to say the least, an expensive proposition.
Second, if entering the case destroys the hologram and the signature and the hologram, then two additional barriers are introduced.
Third, the coins themselves are of moderately complex design...and would be far more difficult to counterfeit than most physical bitcoins.
Finally, even if a thief successfully counterfeited a case, Alitin Mint claims to have a proprietary cipher system in place where they can verify if a case is legitimate.

The only other physical bitcoin out there that appears this secure seems to be titan bitcoin.  The only drawback is that [it is my understanding] you have to concede actual ownership of the bitcoins to a third party until they are redeemed.

Keep in mind that there are other methods of "gaining access" to something without actually opening the container. Ever heard of ultrasound as one simple example?

Your second point I am not sure I follow. You say "if" but I'm not sure I read that that is what happens when opening the case.

Your third point is concerning counterfeit coins. Tampering and counterfeiting coins are two separate topics.

Your last point are just claims. I'm not saying any of the claims aren't true, but until it has been proven to be true as in the claim about the case being "tamper-proof" and the comment the radiologist made concerning current technology, are simply just that, claims without proof publicly given.

Hopefully someone can give these coins a test to different tampering mechanisms to prove or disprove said claims. As I've said, talk is cheap.

My second point... You are correct... I'm supposing that you can't enter the case without destroying the hologram and signature.

I think it's up to a skeptic to prove that something is out there that can image an etched engraving on metal. I can tell you that I am almost  certain that no conventional medical imaging equipment could obtain an engraved private key off of a silver coin.  In the first place, metal interferes with CT and MRI imaging. Secondly, the engraving is on a curved surface, so any imaging would require thousands of slices.  Thirdly, no medical imaging devices are even close to that precise as far as resolution is concerned.   If you are aware of any device that could achieve such resolution, I would be interested to know what it is and how expensive it would be.  

You make very valid points here. I still am a big believer if an attacker is given enough resources and time any security feature will break. This debunks the claim of tamper-proof in my view.

I am very curious to see these coins be tested especially the casing. Very exciting stuff.  Smiley
member
Activity: 86
Merit: 10


Not sure if I would ever claim that something is "Tamper-proof" as nothing is tamper-proof if attackers are given enough time and resources to find ways around security mechanisms.

Other than that this is an interesting concept/project.

 Smiley
There are certainly levels of tamper-resistance, and I think these coins appear far more tamper resistant than any other physical bitcoins out there.  
First, if the cases cannot be entered without breaking them, then the crook must somehow manufacture his own identical cases... That is, to say the least, an expensive proposition.
Second, if entering the case destroys the hologram and the signature and the hologram, then two additional barriers are introduced.
Third, the coins themselves are of moderately complex design...and would be far more difficult to counterfeit than most physical bitcoins.
Finally, even if a thief successfully counterfeited a case, Alitin Mint claims to have a proprietary cipher system in place where they can verify if a case is legitimate.

The only other physical bitcoin out there that appears this secure seems to be titan bitcoin.  The only drawback is that [it is my understanding] you have to concede actual ownership of the bitcoins to a third party until they are redeemed.

Keep in mind that there are other methods of "gaining access" to something without actually opening the container. Ever heard of ultrasound as one simple example?

Your second point I am not sure I follow. You say "if" but I'm not sure I read that that is what happens when opening the case.

Your third point is concerning counterfeit coins. Tampering and counterfeiting coins are two separate topics.

Your last point are just claims. I'm not saying any of the claims aren't true, but until it has been proven to be true as in the claim about the case being "tamper-proof" and the comment the radiologist made concerning current technology, are simply just that, claims without proof publicly given.

Hopefully someone can give these coins a test to different tampering mechanisms to prove or disprove said claims. As I've said, talk is cheap.

My second point... You are correct... I'm supposing that you can't enter the case without destroying the hologram and signature.

I think it's up to a skeptic to prove that something is out there that can image an etched engraving on metal. I can tell you that I am almost  certain that no conventional medical imaging equipment could obtain an engraved private key off of a silver coin.  In the first place, metal interferes with CT and MRI imaging. Secondly, the engraving is on a curved surface, so any imaging would require thousands of slices.  Thirdly, no medical imaging devices are even close to that precise as far as resolution is concerned.   If you are aware of any device that could achieve such resolution, I would be interested to know what it is and how expensive it would be. 
legendary
Activity: 2646
Merit: 1137
All paid signature campaigns should be banned.
Quote
Expected Delivery Date: January 24, 2014
Product & Tracking Information
Postal Product:
Priority Mail 2-Day™
Features:
Certified Mail™
Return Receipt
DATE & TIME
STATUS OF ITEM
LOCATION
January 22, 2014 , 5:33 pm
Dispatched to Sort Facility   
SPRINGFIELD, MO 65804
January 22, 2014 , 4:51 pm
Acceptance   
SPRINGFIELD, MO 65804


Very excited.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
If the reputation of the company is good, there's really no reason to doubt the weight and purity of the coin as stamped on the coin.

I would be interested to know if Alitin mints their own bullion, or if they source it to a third party minting service, but if the reputation of the mint is good, I see no reason to doubt the authenticity of the silver.  One nice thing about these physical bitcoins (and Casascius' bitcoins, and Lealana Litecoins) is that I can verify the balance of the coin at any time, with little difficulty.

One more thing.  Outside of a density test which most people are not equipped to do, other methods of testing are destructive to the coin, like the acid test (to test for purity) or a scratch test (to test for plating).

Very true reputation is very important. I agree that with reputation it would almost be a non-issue for the company to sell coins without them being tested for purity.

But exactly what is the reputation of said company and OP?

I guess time will tell on that one.

Did I miss where they posted which mint mints these coins?

I was under the impression that there were other devices that could be used to determine the purity of a silver or gold coin. One of my local coin shop dealers said he's used a type of "gun". Not sure if it was ultrasonic or whatever but he claimed it works. Then again that is just talk and I haven't verified that claim myself.

Like I keep saying I don't claim to be an expert on the topic. Just merely wanted to ask the question that comes to mind concerning purity.

legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper


Not sure if I would ever claim that something is "Tamper-proof" as nothing is tamper-proof if attackers are given enough time and resources to find ways around security mechanisms.

Other than that this is an interesting concept/project.

 Smiley
There are certainly levels of tamper-resistance, and I think these coins appear far more tamper resistant than any other physical bitcoins out there.  
First, if the cases cannot be entered without breaking them, then the crook must somehow manufacture his own identical cases... That is, to say the least, an expensive proposition.
Second, if entering the case destroys the hologram and the signature and the hologram, then two additional barriers are introduced.
Third, the coins themselves are of moderately complex design...and would be far more difficult to counterfeit than most physical bitcoins.
Finally, even if a thief successfully counterfeited a case, Alitin Mint claims to have a proprietary cipher system in place where they can verify if a case is legitimate.

The only other physical bitcoin out there that appears this secure seems to be titan bitcoin.  The only drawback is that [it is my understanding] you have to concede actual ownership of the bitcoins to a third party until they are redeemed.

Keep in mind that there are other methods of "gaining access" to something without actually opening the container. Ever heard of ultrasound as one simple example?

Your second point I am not sure I follow. You say "if" but I'm not sure I read that that is what happens when opening the case.

Your third point is concerning counterfeit coins. Tampering and counterfeiting coins are two separate topics.

Your last point are just claims. I'm not saying any of the claims aren't true, but until it has been proven to be true as in the claim about the case being "tamper-proof" and the comment the radiologist made concerning current technology, are simply just that, claims without proof publicly given.

Hopefully someone can give these coins a test to different tampering mechanisms to prove or disprove said claims. As I've said, talk is cheap.
member
Activity: 86
Merit: 10


Not sure if I would ever claim that something is "Tamper-proof" as nothing is tamper-proof if attackers are given enough time and resources to find ways around security mechanisms.

Other than that this is an interesting concept/project.

 Smiley
There are certainly levels of tamper-resistance, and I think these coins appear far more tamper resistant than any other physical bitcoins out there. 
First, if the cases cannot be entered without breaking them, then the crook must somehow manufacture his own identical cases... That is, to say the least, an expensive proposition.
Second, if entering the case destroys the hologram and the signature and the hologram, then two additional barriers are introduced.
Third, the coins themselves are of moderately complex design...and would be far more difficult to counterfeit than most physical bitcoins.
Finally, even if a thief successfully counterfeited a case, Alitin Mint claims to have a proprietary cipher system in place where they can verify if a case is legitimate.

The only other physical bitcoin out there that appears this secure seems to be titan bitcoin.  The only drawback is that [it is my understanding] you have to concede actual ownership of the bitcoins to a third party until they are redeemed.
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