What do you mean self mined?? Not sure that's possible.
I assume they are getting confused with BTCC coins, which they self mined and put into coins, so you are basically get coinbase coins. It's pretty cool IMHO, but not something Casascius ever did. |
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You asked about selling 1 BTC brass bitcoin in Jan 21. It is now 22 March 2021. The Bitcoin price recently went over $60k, so we afe talikg alot of money here.
Firstly let me talk about value. A few days ago, I asked one of the world’s leading auction houses. They offered a free valuation service. They declined to value it, saying they don’t auction money items like bitcoin due to the traditional buyer and seller premiums.
Historically a number of sales are “purported” to have taken place through this forum and others, and on eBay, but you should not use those as a guide since:
1) The bitcoin price has tripled in the last 3 months.
2) The rarity of un-peeled Casascius has increased, as many were peeled as the price rose.
3) Any sales may have been to shills, or even completely fake.
4) Both buyer and seller had a “trust” issue. Most people would not buy or sell online, meaning prices do not reflect a true market value.
Based on sales which purportedly happened, i think an online sale in this or similar forums might fetch between 1.3 BTC and 3 BTC. I think it would go for much much more if auctioned in a way which was more trust-worthy for the buyers. Some eBay listings a couple of years ago were asking in excess of $200k. That would have been the equivalent of 10 to 20 BTC, but there is no proof that those sales really happened. I am not sure about whether eBay even accepts fully loaded listings.
I would like to see a major auction house sale happen, but see the second paragraph above.
Given the trust issue, I would try to sell via a specialised coin auction house who will give reassurance to buyers. Worst case scenario is that you end up with less than 1 BTC due to the auction house fees, but there is an extremely good chance that you will get much more. The downside risk is worth the upside potential in my view. You might well see a price above $1 million.
Another way to avoid trust issues is to sell in person face to face, by advertising locally. The trouble with that is the price. The places you would advertise typically have second-hand bargain items at low prices. What are the chances of a multi-millionaire bitcoin enthousiast spotting your ad?
The safest way to get value is to peel it and redeem the BTC, but that seems a shame, given the rarity.
This is basically all terrible advice, and mostly wrong. First, a 2012 Cas will not fetch between 1.3 and 3. If you are lucky you will get 1.1, depending on condition. This is the most trustworth place to sell physical bitcoins, bar-none. Auction houses are not interested, and charge a fortune in commission anyways. A price above $1 million??? Lol, that will not happen until bitcoin is worth $800k. Ebay has basically zero seller protection. If you sell it there, someone will buy it, pay for it, receive it, then tell Ebay you scammed them and sent them an empty box, at which point Ebay will 100% return their money to them, and you will have no coin and no money. Face to face is fine, and something I have done many times, but you better trust the person or do it somewhere safe. Lots of people will rob you if they know you are carrying what is basically $60k in cash. At this point you have 3 choices: - Keep it, it will be worth more in the future - Peel it. This is the safest option, at most you will probably lose around 0.08 BTC if you know how to sweep all the forks. ( ie 1BTC, 0.01BCH, 0.001BSV + peeled coin value) - Auction it here with minerjones as escrow. You will probably get 1.05-1.08 BTC. Minerjones removes the risk of being ripped off, but not the risk of the coin going AWOL between you and him. You can't get insurance, so you are shit out of luck if that happens. I have personally bought quiet a few this way, and it always went smoothly, but it was stressful as fuck. |
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That's why I value Gold Anacs the most. When they were being done, the value of most Cas coins was low enough that the hassle and risk involved in getting counterfeit coins slabbed was not really worth the pay off. These days, be much more worth trying to get past the authentication coin graders provide.
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The 5 is worth holding on to or trying to get a buyer. They are pretty rare, and somewhat sort after, there was a thread 6 months back of someone looking for one and not being able to find it. But yeah, random 1BTC Cas are not getting very big premiums right now.
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Except you can't know that for sure. I could buy an unfunded "Buyer Funded" coin, use an address generator to generate identical firstbits but different overall address, fund that, and no one would know the coin had not been funded until they peeled it. Without the entire address, it's just not possible to know for sure. Took me about 8 hours to generate my vanity address: 1Room1o1qdjbh6FBx74W9qSjKS5UwcAbe I agree though, it is a beautiful coin, but unless Smoothie releases the Buyer Funded address list, you would be mad to buy it as funded. |
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How does someone distinguish between a buyer-funded and Smoothie-funded Lealana?
Buyer Funded is stamped on the hologram in big black letters. Smoothie did fund some stamped with Buyer Funded I believe, but it's all too hard to keep track of now, so I only buy the ones without it. |
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Is there not a list of wallet addresses for these coins?
Not even the Smoothie funded ones as far as I know, let alone the buyer funded. Would love to be wrong though, if anyone else has more info! |
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Hey mate, you will find this very difficult to sell, as the funds cannot be verified, which is a real shame I know. But because of the way firstbits works, a buyer can never know if the coin has actually been funded. Sucks but you will probably have to peel it and sell it. Shame cause we don't see many MS-69 Lealana's, I know cause I've been looking for quite a while!
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Yeah, I love the Lealana's, but it makes Buyer Funded coins basically unsalable, which is a shame. But I know I would never buy one, too risky. First bits made sense in 2013 ( sort of), but with a modern rig making an 8 digit address is childs play, I did it for my Vanity address in a few hours.
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A fact that blew my mind is that there are ~$2.3 BILLION worth of BTC currently held on Casascius coins (not to mention BTCC). If 5% of holders use this service at a 4% interest rate, that's $5M revenue per year. If they help to broker sales of coins and take 4-5% of sale price, that adds additional revenue  Jesus, I can't believe I have never done that math before. That's fucking crazy. I would guess at lease 20% of that is lost forever, I know a few people that misplaced Series 1 error coins, or gave them away etc when they weren't worth enough to look after. Personally I quite like the whole idea, I think it makes sense, but at the same time I would never do it, just wouldn't feel comfortable with the risk. I don't loan my bitcoin to deFi for yield either though, and obviously a lot of people do, so I must have a lower risk profile. Buying bitcoin and holding it for 8 years was risky enough for me, be greedy to take on more risk for a few more %. |
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I had not considered the travel restrictions. I imagine you are correct. Although the buyer of the Double Block had MJ ship to Singapore.
Jesus. Someone has much bigger balls than me. As far as I know it's uninsurable, so you might as well be mailing cash. |
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i think if you can afford a 25 btc block that normal travel restrictions would not apply lol dont rich people get to skip all that type of shit?
Even the Aus Open tennis players were having hissy fits on social media about the quarantine they had to go through, and they are rich and famous. Shlub like me would get stuck in a room with no Netflix, internet or xbox |
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I totally get the concern about fakes and I messaged minerjones about having him do escrow. If the buyer prefers an in-person hand-off, is there anything for me as a seller to watch out for?
Thanks!
Just make sure the transaction confirms! As a buyer in these situations I always massively over pay on the transaction fee to make sure its in the next block, make sure you check the mempool before hand, fee's have been high as fuck lately. |
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I would normally be interested, but there is no way you can trust that to the post, and you cant fly in or out of Australia at the moment, so I'm out, which sucks. Rona has cost me a few nice pieces over the last 12 months, but even 1 BTC items are stressful as fuck these days, my heart couldn't take 25BTC.
If I was you I would be tempted to wait a little while, a lot more buyers open up when travel returns to normal, I assume most people would not risk post on something like this. Which country is it located in if you dont mind me asking?
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I've done hand offs in a police station. The issue is, are you really sure you would know how to spot a fake? Which is my escrow like MJ is always good, he's more likely to notice a fake than most people.
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I have bought quite a lot into Australia using FedEx Express. It's stressful, but haven't had anything go missing yet. Only buy through a trusted escrow so you can be sure the item has shipped.
If you have a 1 BTC Lealana I will def bid, its the only one not in my collection currently.
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It's graded MS69 by ANACS.
That pushes the price up in my opinion, especially if yellow ANACS slab. Collectors will pay a lot more for 69/70 than 67/68 in my limited experience, but as others have said, the market is pretty dead at the moment. Personally, unless you really need the cash, I would wait another 5 years, once BTC is a more established part of the financial system there will be a lot of people that will want stuff like this for bragging rights. |
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I think we're approaching the point where the people who were normal before Trump and then joined the cult are, for the most part, waking up and realizing what happened leaving behind mostly just the people like BADecker that were conspiracy theorists before Trump and will continue to be conspiracy theorists for the rest of their lives. Hell of a 2016-2020 they had.
We can only hope so. Looked at from a slightly different position, the same things can be said in just the opposite way. We have two basic options right now: 1. Trump will get back in through a military loophole; 2. Everybody will see in a few months the big mistake they made with letting Biden remain in.  Yeah, I mean I guess he could fuck something up real bad, let 400k people die or something? |
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