At this point, the hologram/private-key is not fire-proof, as you have correctly pointed out.
However, they are waterproof, as the private key is printed on waterproof polyester paper.

Good idea about laser etching the private key itself.  We thought of that, but currently, we don't have a feasible way of doing it while insuring the secrecy of the private key.  We'll continue to think about that for the future.

thanks,
Bobby

Coin is funded.  We will insure with shipper for roughly USD $100, and require signature for delivery.
(The insurance and declaration for USD $100 will minimize any import duties or VAT being charged by your country.)

The block has already been mined, and the BTC has already been mined:
Transaction: https://blockchain.info/tx/0d36ca5eb506babc58650d42a42e28f1aef1cf5b6d043c3b4c88b933c464efbe

Update #1: Clarification about Auction Ending Time

As specified, this auction ends after the 420,000 block is found (the main chain one, in case there is an orphan).
However, we also have the no-sniping rule in place, which extends the auction by 15 mins after the last bid.

So in some sense, there is a random ending time to this auction.

What does this all mean?

At auction end time, whenever block 420,000 is mined, the last bid could be the direct winner if block 420,000 was found more than 15 minutes after the posting of the last bid.  

If block 420,000 was mined within 15 minutes of the last bid, then we are now officially in "over-time", where additional bids can come in within 15 minutes of each other.  Once 15 minutes lapses, I will declare the then-last bid the auction winner.

So in other words, as soon as block 419,999 is mined, the auction could end at any time.  Please be sure to put in your bids by then, such that you don't miss out.  (We routinely see block being mined within seconds of each other.)

---

I've also updated OP with this above information.

thanks,
Bobby

Just to give you all some more perspective about the uniqueness of this BTC26+ Bitcoin Block...

We plan to mine about ~100 of these BTC25+ Bitcoin Blocks before the halving.  And not only will this 2016 run be limited to the ~100 block, literally, there cannot be more of this made!

and of the 90+ blocks already mined, this is absolutely the largest block mined so far.  And all of this is completely verifiable by anyone:

Block #: 418,402
Address: 16AEBbzXfBuZb6atJu5coDMxtqGR8ieCoK
Bitcoins: 26.03392740
Transaction: https://blockchain.info/tx/0d36ca5eb506babc58650d42a42e28f1aef1cf5b6d043c3b4c88b933c464efbe

in 4 years, block rewards will come down to BTC6.25+, and in around 8 years, block rewards will only be BTC3.125+.
By then, 4 or 8 years later, your BTC26+ Bitcoin Block will be absolutely enormous; the rarest of the rare.

Bitcoin Block #418,402 is the one to get.

Imagine if someone had actually done this and made Bitcoin Blocks back when block rewards were BTC50+?
If the real Satoshi Nakamoto had the Bitcoin Block for the Genesis Block or Block #9, then it wouldn't be so hard to prove his identity!  

Stories to tell your children and grandchildren, that in your days growing up, Bitcoin block rewards were BTC50+ and BTC25+, and you'll have it in your hands to prove it.  

Down the road, I expect this to be the very best prize of the Bitcoin Blocks by BTCC Mint, especially the fact that this item is being auctioned to this audience on Bitcoin Talk Forum, on this historic 2nd Block Reward Halving Day.  

Good luck with your bids!

thanks,
Bobby

Yes understood.  Given that we won't ship until around July 15th, I'll change the payment terms to be within 3 days, 72 hours.

Feel free to re-bid.

thanks,
Bobby

Correct!  That's the plan! 

We will declare customs value of $100 for the Titanium collectible, and ship it via FedEx or DHL, and signature required for delivery.
(we will self-insure the item, and won't as shipper to insure.)

thanks,
Bobby

The physical block of Titanium was made in China, and custom designed by BTCC in every aspect.
Final assembly (stickers, private key) is done by me personally.

The bitcoins are newly mined from the blockchain by BTCC Pool; they're straight from the block reward, part of the coinbase transaction.

Yes, after the block halving, we will continue to make Bitcoin Blocks (if they sell!), but those would be:
- 3 stars
- with 12.5 BTC in block rewards (plus varying amounts of transaction fees)

So the 25+ BTC Bitcoin Blocks would become extinct and no longer produced after this Saturday!

thanks,
Bobby

You're correct, however:

I was referring to our mining of blocks to make our Bitcoin Block collectibles.

We're making roughly 100 of these pre-halving, and we've already mined 65 up until now, and this is the largest one so far.

thanks,
Bobby

Auction has started!

in separate thread:
https://bitcointalk.org/index.php?topic=1540484

Let me know if you guys have any further questions, comments, or suggestions for the auction.
Happy to incorporate your feedback as appropriate.

The auction is for this rare extra large nugget of the Bitcoin Block:

BTCC Mint - Bitcoin Block
Block #: 418,402
Address: 16AEBbzXfBuZb6atJu5coDMxtqGR8ieCoK
Bitcoins: 26.03392740
Transaction: https://blockchain.info/tx/0d36ca5eb506babc58650d42a42e28f1aef1cf5b6d043c3b4c88b933c464efbe

This is a rare piece: the largest natural block that we have mined so far for this product!  And it's very likely going to be the largest we'll ever mine, as we'll only mine roughly 100 pieces of the 25+ nuggets before the block halving.  (I can't say it's the largest block ever mined, but certainly, it's very rare to see a block with over 26 BTC in size.)

Here's the product link, and these Bitcoin Blocks are all selling for 30 BTC in our store:
https://store.btcc.com/products/2016-n-series-bitcoin-block

Auction terms:
- You are bidding for the whole block, with nice solid wood etuis, and free shipping worldwide
- Auction is starting now!
- Auction end is the block-halving time, once block 420,000 is found, as per forum time  (current ETA is 09 Jul 2016 around 15:00 hours UTC)
- Payment is in Bitcoin only, and final payment details will be coming later
- Starting bid is 1.00 BTC, No reserve auction!
- Bid increment is 0.10 BTC
- No sniping!  Every bid within 15 minutes of the auction end will extend the auction another 15 minutes
- Winner has 3 days (72 hours) to make payment [revised; was 24 hours]
- Shipping will take place around July 15

I think these rules should cover everything.  I'll update and clarify as needed.

Thanks,
Bobby

---

Update #1: Clarification about Auction Ending Time

As specified, this auction ends after the 420,000 block is found (the main chain one, in case there is an orphan).
However, we also have the no-sniping rule in place, which extends the auction by 15 mins after the last bid.

So in some sense, there is a random ending time to this auction.

What does this all mean?

At auction end time, whenever block 420,000 is mined, the last bid could be the direct winner if block 420,000 was found more than 15 minutes after the posting of the last bid.  

If block 420,000 was mined within 15 minutes of the last bid, then we are now officially in "over-time", where additional bids can come in within 15 minutes of each other.  Once 15 minutes lapses, I will declare the then-last bid the auction winner.

So in other words, as soon as block 419,999 is mined, the auction could end at any time.  Please be sure to put in your bids by then, such that you don't miss out.  (We routinely see block being mined within seconds of each other.)

---

Update #2: Payment address for winner

For the winning bid by user Otoh, please send your BTC32.00 to this address:
1Nhd5a2knhzY1qVmKi3kDYVdiR2cgqJPdG

---

Some photos of this product first:






Here's the specific photo of this block #418,402:

Hi naypalm, yes, certainly!  could you PM me your email, and we'll correspond privately?

We'll ship it to you, and only declare the item for around USD $100, as a titanium collectible.  This way, you will have minimum import tax/duties on your end.

We will self-insure the item, and won't insure via the shipper (which would obviously require a much higher declaration, if we used shipper insurance).
However, we will require signature on delivery.

We will start the auction soon!

(I've sent you a PM about this, but in case you don't check it frequently, I'll post here as well...)

---

Hi minerjones,

Do you have a prize in mind for your Block Halvening free raffle?
I think it's a great idea!

If you don't have a solid prize yet, I'd like to offer a One Bitcoin from BTCC Mint, as a free prize to the community, with free shipping (even to USA, as this isn't a purchase).  (Choice of Black or Red box, to be selected by winner.)

If you accept, please update your thread and first post to declare this prize as donation from BTCC Mint. 

(Instead of replacing whatever prize you have in mind, you can also add this to your original prize offer. Completely up to you, and no strings attached.)

Thanks for all you're doing in this community! 

thanks,
Bobby

For the auction bidding, I was trying to say that the price you bid would be for the whole thing (the physical block, plus the 26+ BTC in it...)  This means that the market value of the item should be at least 26 BTC...  But in any case, we will start the auction at 1 BTC, as a form of sincerity. 

The BTCC Mint store is selling the Bitcoin Blocks for 30 BTC, and all of those block are under 26 BTC in size.
So I wouldn't be surprised to see this sell for over 30 BTC, but that's really up to you guys, to see who wants this the most! 

Again, this is a special treat to this Bitcoin Talk Forum community, to offer you this very special large block, #418,402.

I will suggest increments of 0.10 BTC.

As for sniping, what are ways of disallowing it?  Are you suggesting that we require minimum "cool-off" time after the last bid, for that bid to be valid as the final bid?

thanks,
Bobby

I know what sniping is, but what would be the technical way to distinguish sniping?
How to allow or disallow?

Hi all,

Yes, I'm happy to explain this.

The manufacturing process for the Bitcoin Block is somewhat different than for the other BTCC Mint coins.
The reason is how the final product looks like, where the Block number, the BTC amount are laser etched onto the nugget.
(We call it the bitcoin nugget!)

First of all, I've set aside and created a bunch of dedicated private/bitcoin addresses to make these nuggets.  The private key creation is all done on an offline computer, and the files are never sent electronically over the wires, nor do they ever touch an online computer at all.  The private keys are all stored securely on a spinning HDD.  The drive is encrypted, and the file is held inside an encrypted volume on the drive.  The hard drive is always kept in a safe, only accessible by me, and not touched by any other members of the company.  The drive will be erased, wiped, and physically destroyed once the printing of keys have been done after this batch of the 25 BTC nuggets.  For reasons obvious to all members of this forum, the handling of the hard drive and electronic file containing the private keys is a very sensitive affair.  I am fully aware of the dangers and security risks associated with this, and I have taken all these steps to ensure the safety of these funds, and the reputation of BTCC.

The corresponding public address have been used to make the hologram stickers, where the address is printed onto the sticker, just like the other BTCC Mint coins.  However, this is a different, second generation sticker, specific for the N Series, and has a few more anti-counterfeiting features, such as micro printing and some 3D effects of our logo.  

Here is the assembly sequence:

1) We mine the block into the address.  We check and double check, to make sure the addresses, block height, and amounts are recorded correctly.
2) We then laser etch the information of the mining details onto the top side of the physical block, including the corresponding QR code of the bitcoin address.  Optionally, we would laser etch the Forever message on the backside of the block, if that was custom ordered.
3) After the block is made, we check again, to ensure the bitcoin address, block number, and BTC amounts all match.
4) Then, in a private setting, I would personally print the private codes, machine cut them into the small circles, and then attach to the block with the hologram sticker, one block at a time.  (This whole step is done by me completely, with at most one senior company management team member helping, but never leaving them alone with the sensitive private ket material.)
5) Once the full block is made, it is wrapped and then sent for storage in a safe/vault, before being sold or shipped.

Please let me know if you guys have any other questions.

thanks,
Bobby

Hi all,

It looks like we have enough people for an auction!  Yay. 

I would like to start the auction in a separate thread.  I believe that would be the right practice, correct?
I'm still a relative newbie on this site, so your comments/suggestions would be appreciated.

The auction item:
BTCC Mint - Bitcoin Block
Block #: 418,402
Address: 16AEBbzXfBuZb6atJu5coDMxtqGR8ieCoK
Bitcoins: 26.03392740
Transaction: https://blockchain.info/tx/0d36ca5eb506babc58650d42a42e28f1aef1cf5b6d043c3b4c88b933c464efbe

This is a really cool auction.  This is the largest block that we have mined so far for this product! 
I can't say it's the largest block ever mined, but certainly, it's very rare to see a block with over 26 BTC in size.

(Sorry, I don't have photos of this one yet; will post as soon as that's all ready.)


Some more questions to see all of your input:
- What auction terms should we set?
- I've already said that this would be a NO RESERVE auction, with initial bid at 1 BTC. 
- Again, the bidding price would be for the whole block.  So we are bidding on the whole block, and NOT on the "premium" portion.
- How long should we set the auction to run for?  24 hours? 3 days?  7 days? 
- What's the minimum bid increase amount?  Any suggestions?

Thanks,
Bobby

From our collection of the Bitcoin Blocks mined so far, we have an extra large one:

Block #: 418,402
Address: 16AEBbzXfBuZb6atJu5coDMxtqGR8ieCoK
Bitcoins: 26.03392740

https://blockchain.info/tx/0d36ca5eb506babc58650d42a42e28f1aef1cf5b6d043c3b4c88b933c464efbe

Since it's the largest block mined so far, we are not selling it in the store, but rather, will auction it off in this forum if there's enough interest. (Starting bid for the auction will be 1.00 BTC, with no reserve price.)

If there are at least 5+ parties interested, then I'll start the auction in a separate thread.

thanks,
Bobby

That's like asking, is the $10 worth of acrylic case for a "5 oz gold" coin worth the "2 oz of gold" in markup price?

Have you seen the larger 5 oz gold coins, or the 1 Kg gold pieces?  How much are they marked up?  
For reference, 1 oz gold coins sell for 5% to 10% markup from the spot price of gold, and larger pieces sell for a much higher markup, and come in much smaller mintage numbers.

Do they set the price based on the price of gold?  The raw manufacturing costs?  the price of the acrylic case and the wooden box?

Maybe you're not quite the collector of high end collectibles?  

thanks,
Bobby