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Title: Counterfeit Casascius Coins? Post by: johnniewalker on June 07, 2013, 05:42:00 AM I heard a mention of fake Casascius coins somewhere the other day. I figured it was only a matter of time til some factory in China thought up the idea. If they can flood the precious metals market with fake products, I bet they can easily make a fake Casascius coin. I would imagine they buy a number of legitimate coins and then use the firstbits on those to create fake ones. The question is how long do they wait to redeem it? It'd have to be a while if they wanted to create any sort of business. If you plug-in the first bits on a coin you think is brand-new and you see its redeemed, you might realize you got scammed. Another thing though is what happens if someone tries to redeem one they don't know is fake? I imagine they would insert a fake private key in case of this.
Undoubtedly Casascius Coins will be harder to fake (because of the first bits/redeeming function) than a Morgan Dollar or something, but where there is a will, there is a way. There's a lot of money to be made, and mark my words-its just a matter of time until these things start to surface. Title: Re: Counterfeit Casascius Coins? Post by: adamstgBit on June 07, 2013, 06:14:11 AM http://i.ebayimg.com/00/s/MjQ3WDI4Mw==/z/rlkAAMXQJ3xRci~e/$(KGrHqV,!qcFEOkuh5w6BRci+e!Tbg~~60_35.JPGhttp://i.ebayimg.com/00/s/MjQ3WDI4Mw==/z/0oUAAMXQJ3xRcjYr/$T2eC16RHJF0FFZ-i8hILBRcjYrdUjQ~~60_35.JPGhttp://i.ebayimg.com/00/s/MjQ3WDI4Mw==/z/aTcAAOxy79VRcjYr/$(KGrHqEOKooE6eSJZcMkBRcjYrY!fw~~60_35.JPGhttp://i.ebayimg.com/00/s/MjQ3WDI4Mw==/z/dmwAAOxyhlJRcjYr/$T2eC16ZHJHEFFmJc0Q8cBRcjYreuu!~~60_35.JPG
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