Bitcoin Forum

Hey everyone sometimes I like to carve how does Wooden physical bitcoins preloaded with 1btc sound? If I made one Ill sell it for 1.5btc is anyone interested? Escrow accepted.

selling  physical btc for digtail btc lol. if i could pay you another way id be interested depending on how cool they look :)

Ill try finding some wood somewhere and start working in about 2 weeks

You should take ziggap out of your sig, heh.

You`re announcing that you will try to find some wood and begin the process of actually carving such a coin in 2 weeks?  Seems a little preliminary and non-committal, but I wish you the best of luck.  I`d love to see pictures. 

As far as pricing, my willingness to pay would be directly related to the quality of the final product.  If it looks fantastic, BTC1.5 would probably be reasonable.

Yes, Im just trying to find new ideas for bitcoins, And I need to raise some money too :)

These are what im thinking about.

Silver Bitcoins (Home smelted :D) but will be cheap quality but expensive

Wooden,

Plastic

Cardboard (Cheapest of the cheap) Lol

Yeah

Why do they call him ironcross360? Because when you read any of his threads, you turn 360 degrees and walk away.

You know that you would walk into him right?

Inb4 old xbox 360 jokes hate

The problem here is with the security. Each coin/note must carry private key. How can you guarantee that someone didn't sneak peek into the key and sealed it back before passing this coin/note to me?

To my knowledge there is no [cheap] technology able to provide such guarantee. Scratch card for instance is far below necessary level of security. It may work in short chain producer-distributor-buyer, but not in long circle of life necessary for banknotes or coins.

You. Can't... How do you know the people at the casascius coin factory are trusted?

Taken from Casascius website (https://www.casascius.com/faq.aspx):


That`s the answer to that one.  But while you cannot be certain, I would bet on him before betting on you.  That`s just my personal opinion, not a criticism or anything - if you want to make a nice wooden / metal physical coin, that could be cool.  But you need to stick your neck out a lot more seriously than thread posting if you expect people to entrust the security of a cold storage system to you.

With no disrespect, ironcross... I don`t *KNOW* that Casascius can be trusted.  But I will trust them many times before I trust you.

If I got a coin from you, it would be either just a physical novelty coin, or a coin with an NFC in it, into which I could embed a private key of my own choosing.   I`m sure you`re a nice guy, but there`s zero chance I`ll trust you to handle my cold storage.  Similarly, even though *I* know myself to be entirely trustworthy, I wouldn`t expect (or ask) anybody to trust me with the same, for any amount whatsoever.

I know that casacius is reputable because he has been around a *lot* longer than you, has made his personal identity public, and hasn't done scammy shit for 99% of their posts.

Well those who want we can sign a contract saying I will not keep any of your info.

A contract is virtually useless without trust, particularly for small non-monetary matters or for matters outside the scope of normal law / business practice.   It`s more about codifying the way that you`re going to deal with a set of problems, if or when those problems arise, and then how a dispute about it will be settled.  But for little stuff, untraceable stuff, or situations where the burden of proof is so onerous that you can`t practically demonstrate what`s happened after the fact, they aren`t going to help.

The courts cannot realistically make you "un-keep" someone`s data, particularly in this context where the private key is what`s at issue.  For practical purposes, if you abscond with the funds it`s only traceable inasmuch as you can tell what addresses in the blockchain it`s gone to but not necessarily verify who took it.  The victim can know with virtual certainty who it was, but unless a thief is dumb enough to transfer the funds directly into a wallet address which they are known to control and do in fact control at the time of the theft, you can`t even verify conclusively that the particular thief took them.

In this context, a contract is literally not worth the paper (or more likely, electronic storage media) that it`s recorded on.

Nothing wrong with the coins, and I`m not saying anything personally against you.  Just pointing out that in this particular instance, if trust is so inadequate that a contract is necessary, the contract is going to be inadequate to actually protect that trust.

If your goal is not keeping somebody`s data (whatever that data is) then it`s better to avoid ever coming into the possession of other people`s data, wherever doing so is practical and doesn`t impede your business model.

I`m not opposed to dealing with you and I`m not accusing you of dishonesty, I haven`t really seen anything from you that inspires any kind of confidence.  Probably would buy a coin from if it looked cool and was well-made though.  Unfunded, unaddressed, and via escrow.  But that`s just reasonable.

Trust towards producer is much lesser issue. If we talk about coin not as a novelty item but payment media, then problem rises against intermediate third party holder. Even destroyable hologram sticker can be just peeled off and substituted by another gimmick one. People use to forger banknotes with several levels of protection, forgery of one small sticker is like finger snap.

Depends how cool they look. Post pics, definitely interested.

lol

/highfive

How will they be preloaded with 1 BTC, do you plan on engraving the private key to the coin?

No, printing and putting on there.

Will you use tamper proof holograms like Casascius?

Maybe, I was thinking about Scratch off

Was also thinking made out of circuit boards dipped in gold or silver

Can a scratch off material bond to wood?

Yes, Its a sticker that has a scratch off.

Amy pics of a prototype?

Got no wood yet. So we gotta wait. 2-4 weeks for first bitcoin prototype.

Have you made one already? I am extremely interested, I collect physical forms of currency, but I would like to see a pic, thanks!!

So let us know if you have made one or if this is just "an idea" as of right now. If it is, I would like I rainbow unicorn as well!!

It hasent been made yet... I need someone to buy my XRP 39k for 6btc... after I get this set Ill start working on it

Well what about this scenario

1. Customers buys your wooden Coin.
2.  Customer scratches the sticker away
3. Customer  read the private key and write it somewhere else down
4. Customer buys a new scratch off sticker and resells your coin.

What now?

You can buy thoose scratch off stickers everywhere. You are screwed.

I can find a manufacturer that can print my logo on the scratch off.

Ah understood I will be very excited to see!!

OK, And please just wait for this. Are you interested? I can create a waiting list...

This sounds interesting, I actually thought of this a few months back, but I'm no way near the to the standard of carving them.
I will be keeping a eye on this thread for the first prototype.

Yeah if you have that much interest put me on it def. I just need to see a pic of finished product. Good luck!!

FYI Wood is just wood no paint... If I found some good paint I'd do it. I will look into bronze/gold colored paint

No varnish?

Ill see if I can varnish it, But def all that work will cost you more...

I'm out for this.  Raw untreated wood with the private key etched into it and your word that you haven't kept it?  Thank you, but no thank you very much.

I'll buy a Casascius coin or make a paper wallet.

Well, ok..

*spintwirl*
*walkwalkwalk*
*bump*
Shutupandtakemymoney.jpg

I <3 this idea. Folks can profit from making their own money. This sort of lovelyness is whats gonna make btc go biggest-time.
I'd like to see mBTC and uBTC denominations, yo.

same here, If $1 was 1 satioshi id be rich

Hahaha :P

Andy B

Don't you think(everyone who wants to create their own physical bitcoin) other people have tried to make physical coins? Casascius has it down. Period. He was the first and is the best. I'm pretty sure he manufactures his own blank/holos, and he has a detailed explanation of how generates keypairs offline, and in such a manner that its impossible for him to know a single key.

Do ANY of you have these capabilities or know what they entail?
I would be very surprised if ANY other physical bitcoin became popular-it'd have to be VERY special to compete with the original Casascius coin.

Anyone can say they want to create their own physical coin, or physical anything. All you need is to generate a keypair and turn it into a barcode-my grandma could do it.

To even get started, you'd have to find a LEGIT (tough in China!) vendor on ec21.com or something who makes custom rounds out of x material. You would also need to find someone to order custom holograms. And these things come with a minimal order that is NOT so minimal. So if you flop, you flop hard. There are the logistics of getting the actual physical materials you need, now you need to figure out how to generate keypairs without POSSIBLY seeing them (no one will trust you otherwise).

Not to sound like a dick, but I laugh whenever I see a post like this. Everyone LOVES to think they've come up with the "best new thing". But the thing is-[almost] no one even comes close.

I know manufacturers that make custom holograms

EVERYONE know manufacturers that do custom holograms. The problem is "volume". Unless you're going to manufacture (and SELL) several thousands of your coins designing a custom hologram is prohibitively expensive. There's a reason why they most don't publically quote prices for custom work. It's the old adage "If you have to ask, it's too expensive". Free hint: Most hologram manufacturers will not even touch a <10000 sticker order. 10000 stickers @2cm by 2cm will set you back about 1500 $.

If you are serious about this I would take pre-orders to gauge interest. Personally I do not think the idea would be worthwhile because the niche has already been taken. It just seems too be a "how can I get onto the physical coin bandwagon.......I know I will just copy  Casascius idea and change the material......"

Good luck with the idea though :)

Andy B

No pre-orders yet, Dont want to take ANYONES Bitcoins yet just in case I turn around... But I can hire some people out here who are professional carvers too..

I'd pay 3 LTC for a 1 LTC piece.

Hasent been made yet, And I can make custom coins

The niche is by no means crowded but everyone with the physical coin idea lacks the ingenuity that Casacius showed with his v1 and has continued to express up to his v3 coins

If these were physical varnished well finished wooden coins I think they could be really great, but the impression i get is they'll be a piece of plywood cut into a circle with a logo poorly lasered onto the base with a half peeling sticked thrown on the back..

Ironcross if you can make a prototype and prove me wrong I will be more than happy to order a few but you'll have to impress me first, telling me it will cost extra to varnish it isn't the way to go about it    

Will make a prototype and send to you free. just pay shipping

Ok that sounds fair enough  ;) let me know when you have it ready

OK, Will lock thread till ready.