Topic: Welcome Bit VIP Coins! VIP Bitcoins & Crypto Collectables (Grand Opening!) - page 3. (Read 1621 times)

How does a coin-maker or a company produce a product from scratch if they have no capital reserves to begin with.

For example, If I said tomorrow I am going to be minting Eclipse coin. This should be at minimum $10,000, dyes, metals and cheap holograms.

If I am a proposed maker and I don't have the capital to begin-with. What do I do aside from pre-sale and raise funds from investors.  

Or go the traditional route which is securing a loan from a bank either a personal or a business loan.

Thoughts?

agreed - no pre-orders. Add to the risk of buyers not getting what they paid for - there is the risk of loss to both the seller and the buyer, depending on the price of Bitcoin. Depending on that price swing, it has led to complete lines of items being cancelled and buyers not getting their funds back.

If you cannot afford to make the products on your own dime, then you should not make them. It should never be on the backs of the customers.

Best advice out there is to not do pre orders. Well for the buyers anyways. I have never had a pre order delivered on time and there are  almost always are issues (even if out of control of the producer) and significant delays - even from known producers. Recent memory I can name 1hodlclub, rarity check, and even Lealana as culprits of delays that did eventually deliver. I’m sure there’s a list of undelivered pre sales as well - btc penny?!

There are a lot of moving parts to make a physical crypto coin. It’s not as easy as one may think.

Holograms - you need a specific 10 gram size which is not typical. You can tell the quality of a maker based completely on their hologram as cheap China ones will be easier to remove, but much cheaper to buy. High quality holos will have multiple colors and much better security features. Very difficult to remove without leaving a trace. Also significantly more expensive.

Keys - 10 gram coins will be some very small keys. I’d stick to a QR code and make sure you leave the entire back for the key

Production - going to have to have someone produce these coins. Be it 10 gram blanks struck by hand or mass produced by someone else. Usually the cause of most delays, but still more moving parts

Quality - you have some very detailed coins that could look great, like the bomb going off one. But how will that translate to a 10 gram coin. Good luck but generally AI generated images don’t translate into a coin very well.

Presales do nothing for the community but enrich a makers pockets on the hope they can get all these other things to line up so they can release a single coin… and you wanna do how many designs? Like 10?

I don’t expect a reply, but granted my opinion will still be stated.

Presales are the first sign of a ponzi - prove me wrong

Hello, Tweetious

Thank you for your kind wishes regarding the "Bit VIP Bitcoin" project! I’m happy to address your questions:

1) Regarding the availability of all 11 designs, we aim to have them ready within the 3-6 month timeframe mentioned. However, production times can sometimes be affected by various factors. If you place a pre-order for one of each design, we will strive to deliver them all within the 6 months. If there are any unexpected delays, we will communicate those as soon as possible.

2) The designs of the coins are indeed original works created specifically for this project. Only 1 design out of the 11 is not entirely my own artwork. We wanted to ensure that each design reflects the unique aspects of the "Bit VIP Bitcoin" concept. I will be adding more information about the designs on the website shortly. We also have social medias on all platforms. You should be able to find them, they are all linked together. Much more information is located on our social medias regarding the coins and their designs. You can get better connected @VPBitcoins & @Vip_Bitcoins

3) Currently, we do not have prototype coin photos available to share, but we will be providing those as production progresses. Your interest in seeing prototypes is appreciated, and we’ll keep our community updated.

Lastly, thank you for your suggestion regarding the timezone indication in the "contact us/hours" section. We will definitely consider adding that to make our operating hours clearer for everyone. Updates are being made daily and we are inching closer and closer to releasing our first product!

If you have any more questions or need further clarification, feel free to ask!

Welcome Kazkaz27,

First of all, I wish you all the best with your "Bit VIP Bitcoin" project.

I have a few questions regarding the coins:

1) Will all the 11 designs be available in 3-6 months? If I  -theoretically- go through and place a pre-order for 1 coin of each design, will I have them all in my hands in 6 months maximum? If not, I might need to wait for more than 6 months, even for -let's say- more than a year? Could you please elaborate, since there are no production estimations on the pre-order page of each coin (only this large banner indicating that "Our Product  Release is in 3 - 6 Months!" without providing more details).

2) Could you please elaborate on the designs of the coins? Are those designs original work, created by you from scratch?

3) Do you have any real prototype coin(s) photos to share?

Lastly, concerning your site ("contact us/hours" section), I would suggest adding a timezone indication -so that the "10:00 am - 05:00 pm" makes sense - i.e. in which part of the world or US does the 10-5 corresponds to)

Hey, Doc

Happy to have you.

Here is a old post I made that can give you quite alot of information regarding history and some estimations/ statistics.

https://bitcointalksearch.org/topic/info-question-how-many-physical-bitcoin-coins-have-been-created-5490729

Hello, Eclipse

Thank you for your thoughtful response.

I completely understand the importance of reputation in this forum, and I appreciate your advice on addressing questions and concerns from others. Building trust takes time and consistent effort, and I’m committed to moving forward carefully and thoughtfully in all my interactions.

I value your insights. I too believe their is a lot of opportunities within this space. It’s reassuring to know that despite the difficulties, there’s potential for growth and development. I’m dedicated to contributing positively to the community and leveraging my skills to help others.

Thank you for your encouragement and support; it means a lot as I navigate this journey. If you have any further suggestions or insights, I’d love to hear them!

Hey Mopar,

I genuinely appreciate your concern and fully understand your perspective.

While my trust ratings may not reflect a significant number of purchases on the forum, I have been actively involved in selling, trading & purchasing items from various forum members, both on and off the forum. I have been a part of polls and raffles, which have helped me gradually build my reputation. Additionally, I've shared informative insights and posts that have earned me many of my merits, all aimed at assisting and informing others, as I believe this contributes positively to our discussions.

Out of respect for those involved, I prefer not to mention any names. I assure you that I'm in the process of establishing my site and am dedicated to earning trust through transparency and positive interactions moving forward.

I understand everyone's point of view. I may need to brush up on my history of physicals but looks like a fun project. Let's see where this goes.

Kaz,

I understand you not wanting to entertain negativity and skepticism, but do your best to answer these peoples questions.

This forum is very much-so reputation based, more-so than anything else. Without prior trade relationships and partnerships it is very hard to be accepted and trusted.

Trust here can be enhanced and lost based upon your actions alone. Once skepticism and distrust enter, it is very challenging to regain what has been previously lost. Tread lightly with every relationship you enter here, move slowly and deliberately. Relationships here take years and not months.

I think you have a great idea and have put together an actionable plan of commercial development for the community to consider and weigh in upon.

I think overall it's a net positive to offer your talents and expertise to this community. Even if this is one of the most hostile and challenging spaces to succeed in. Most coin makers aside from less than a handful are still in business after a decade, denarium one of the largest and most professional firms exited and closed it's doors. BTCC transitioned to different products. Mike left the space ect.

This space is ripe for development, but it has it's challenges. I would not let these things dissuade you from your quest and your ambitions.

Thank you for reading,

-Eclipse

who have you purchased from? Your trust ratings are blanks and all your visible merit is for polls/raffles and your OP about opening your site.

very interesting idea. I look forward to seeing this unfold bro =)

Hello, owlcatz

I'm not new to this forum. I bought my first physical Bitcoin in 2018. Joined the forum in 2019.
You can see my oldest posts and when I created my account. I've been collecting ever since.

Just one honest question - Are you really new here?


I ask.. Because nobody new here actually understands merits, but somehow you magically figured it all out so quickly. :|

Hello, krogothman

Thank you for the warm welcome and for sharing your insights!

I truly appreciate the guidance and wisdom from experienced collectors and coin makers like yourself. Building trust within this community I know is essential, and I’m committed to doing so by prioritizing transparency and safety in all aspects of my work.

I’ll definitely check out the thread you mentioned and take the advice on key generation to heart. It’s unfortunate to hear about the experiences others have had, I've been a victim of a few debacles. I’m eager to learn from other creators and avoid past pitfalls. If I have any questions, I’ll be sure to reach out. Thank you again for your support and encouragement—I’m honored to be a part of this community!

 
  First of...welcome to the world of physical Bitcoins. I like your website and I see much potential.

  But please do heed the wisdom of the posts by collectors and coin makers who have been here for many a year. We have been in your shoes at one point or other....you need to build trust amongst most of us here as many, myself included have been burnt by unknown and known coin makers.

  I have made a special thread about this here https://bitcointalksearch.org/topic/info-breached-or-scam-coin-makers-list-3315347

    Not only is the private key generation very important, but also the person making these keys.

    I for one might risk buying a coin with say $2 worth of Bitcoin on it cause I believe in the maker or like the coin design...but some will not.

    Build a solid reputation and there are plenty of people here who can guide you in the right direction on the best possible way to safely generate the keys.

   We have for instance this maker, who unknowingly used a corrupt key program. https://bitcointalksearch.org/topic/raritycheck-vibgyor-gilded-12-swept-yesterday-5505399

  We have another very well known coin maker and also a person many met that succumbed to drug and gambling issues that many people got burned. He was on the forum for many years...and yet still we got screwed.   https://bitcointalksearch.org/topic/--5434506


    Other than that...like your designs...wish you the best of luck. And like I said, most of us here want you to succeed as we are all collectors at heart so if you have any questions feel free to ask!

Hey, Aoluain

I appreciate your feedback and understand the concerns regarding trust, especially given the experiences many have had in the past year. Building trust takes time, and I recognize that my profile may not reflect that yet. I’m committed to transparency and ensuring that my methods are reliable and well-tested before sharing them. I also acknowledge that timing plays a crucial role in this space, and I wish I could have been more active earlier. I value the community's insights, including the advice from Frank AlpenCoin, and will take them to heart as I move forward.

Hello, Frank.

I very much appreciate your two satoshis.

I am taking the key generation process very seriously, which is why I haven't released my method yet. I still have some testing to complete before finalizing my approach. Additionally, I'm creating a dedicated page on my website for others to reference once it's finished. I'm also developing a budget-friendly coin, and many of the designs are already prepared and ready to go. I have one that's being produced as we speak. I hope people will be pleasantly surprised by my work when it's unveiled. I'm genuinely excited about this project and have a deep passion for this hobby and the community, even if we don't always see eye to eye. I will continue to enhance my interactions and contributions within this community because it truly matters to me.

You are welcome K,

Look as it stands you have "0" trust, look at your profile, look at almost everyone
else on this board, we have built trust over the years from buying and selling, some
as low as 1 or 2 others with 50+.

You also gotta realise if you were about 12 months earlier with your release
none of the questions would be asked about key gen etc. In the last 12 months
there has been a lot of shenanigans either intentional or not by coin makers leaving
buyers burned so there is more caution now, hence the "negative" comments.

Frank AlpenCoin has posted some great advice there.

Welcome Kazkaz27,

My 2 satoshis:

Don't take key generation lightly. Once you're confident in your process, document it and share it on the forum.

Start by making a coin. Focus on the first coin : key generation, assembly, database management, and double-check everything to avoid mistakes. Take your time.

If you really want to load it, load it with a very small amount of BTC and sell it for the lowest price possible. Don't think about quick profits, but about the reputation you're slowly building. You might lose money with your first coins, but you'll gain expertise, a community, and members who will help you.

Accept feedback from every forum member. Some have been around for more than 10 years and have seen many scams and stories.

I wish you success with Bit VIP Bitcoin.