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101  Economy / Goods / Re: [VIDEOnow]Goggles made of titanium *real metal CP grade 2 in 1920's wilson style on: March 01, 2014, 04:35:33 AM
Love your work man! Good luck with sales!
102  Economy / Goods / Re: New Physical Bitcoin: This Represents a New Standard Folks on: March 01, 2014, 04:26:39 AM

I'm wondering if the OP or someone from Alitin Mint can help me. I am failing to see how this is much of an improvement from tamper proof holograms. I am not trying to cause drama, I simply am wondering if I am thinking about it wrong. I know since I also make physical cryptocoins this will likely look like an attack of some sort, but I am genuinely worried about the security of your product and the claims you are making of how they are more secure than original physical Bitcoins with tamper proof holograms. I have spent many hours lately doing different experiments on how to improve security on the original design of physical Bitcoins, but I don't see this as a very good solution.

I think you guys protected the coin from the obvious... radiation techniques due to the engraved private key, but it seems to me the only line of defense against retrieving the private keys of these coins is the hologram on the coin case. Which as we know can likely be removed showing no to little signs using acetone, just like the older coins that you claim are inferior to yours. That defeats the whole sales pitch here.. minus the very attractive coin artwork. The process a bad actor could take is:

1. Have a replica of the plastic coin case made in China for $1-5 each
2. Remove the coin from the packaging and retrieve the private key from the edges of the coin.
3. Remove the hologram from the original coin case using acetone showing no to little signs of intrusion.
4. Print new labels, QR code, whatever is inside the coin case and put them in the new replica case.
5. Place the coin back in the replica coin case you had made and seal it.
6. Place the hologram on the coin case back where it should be like nothing happened.

I know Alitin says "you can send a picture by email and find out if it is counterfeit or not". However, I have a hard time believing that they do not do this by checking a certain security feature they added to their hologram. This is something that can be easily implemented in the old design of physical cryptocoins.. just a coin and a hologram.

I am just failing to see how this is any better. It would require a little more work to tamper with than a normal physical cryptocoin, but it is still doable IMO. Even at today's prices there is likely enough incentive (cost versus reward) to do this... imagine when Bitcoin really goes to the moon. Please prove me wrong, the reason for my post here today is purely academic and I wish Alitin Mint all the best. I hope I can make it to the Texas Bitcoin Conference to talk about this with you guys face to face and in depth. I only live a couple hours away so I think I can come.. I just have to see if I can get off work.

I spoke with the CEO of Alitin Mint today.  He explained that their biggest concern has been the ability for someone to open the case, steal the private key, and reseal the case.  The case is virtually impossible to open without breaking, because the "braided seal" is stronger than the surrounding acrylic case.  The second consideration is the possibility of a thief breaking the case open, stealing the private key, and replacing it with a new case.  He said that in their attempts to break into the cases without destroying them, they almost always ended up marring either the insert, hologram or signature.   The creation of a new case, at least in the US would cost at least $4,000 - $5,000 for the mold.  I have some personal experience with plastic injection molding, and it not cheap.  The case has the Alitin logo on it, and anyone making a copy would have to go to considerable effort to get it exact.  I know it would be substantially cheaper in China, but a lot of their discounts are for large quantities of product.  Either way, it would require considerable effort and expense to get a duplicate case.
   Even with a duplicate case, a thief would need to figure out how to duplicate that seal, which is unlike any I have seen.  They said that it was a system they developed within their company, and they are not publishing how it is done. 
   Finally, they have a proprietary cipher system that is three layers deep.  They would not say what it is, because they think that if they divulged that information it would weaken their system.  They just reassured me that they could definitely determine if a case was theirs vs a counterfeit.  Maybe if you speak with them in Austin they will give you more info.
   The other question is whether or not the coins themselves could be counterfeited.  That would be a big challenge.  There are not very mints in the US that could make such a coin. If you took a coin like this to a mint and wanted to duplicate it, I doubt that any mint would for fear that they would be an accomplice to counterfeiting. They have strict protocols If you wanted to do it yourself, it would require substantial skill and many thousands of dollars of equipment to do so.  I'm sure it's possible, but I doubt that any thief would go to such extraordinary measures.  These coins are struck with dies and are not cast out of liquid silver.  If someone tried to cast one, it would look a lot different than a struck coin.
   If you contrast this to the security of physical bitcoins with holograms, I think there is no comparison.  It has been clearly demonstrated that solvents can lift off the hologram, and that it can be replaced with minimal effort and very minimal damage.  Also, the coins themselves are generally much less complex in design and would, I suspect, be less challenging to counterfeit.
   I feel really good about the security of these coins...particularly by the cipher system that they have in place which they claim is practically bullet-proof.

I don't think you would have to worry much unless the price per Bitcoin was $100,000. Even then it is not likely to happen. If you don't feel comfortable with it then just pass on it. Pretty simple if you ask me.
103  Economy / Currency exchange / Re: Selling 400 bitcoin at $10 each. Buying 900 Btc at $2,000 each. on: March 01, 2014, 12:52:31 AM
I think you need to lower your price..seems a bit too high. If you dropped it down to 9 I will buy 2 but that is even stretching it. Can you do $8.75?
104  Economy / Goods / Re: [WTS] Breitling old navitimer from 1991 on: March 01, 2014, 12:14:11 AM
Beautiful watch! I might know someone who will buy it.
105  Economy / Goods / Re: Hand made jewelry on: February 28, 2014, 10:01:46 PM
Nice looking jewelry!!!
106  Economy / Goods / Re: [ANN] Bitcoin Shaped Soap Bar! on: February 28, 2014, 09:54:36 PM
These are awesome! Great job!
107  Economy / Service Discussion / Re: Money withdrawn from coinbase never received. What do I do??? on: February 28, 2014, 05:14:26 PM
Who do I contact in coinbase about this.  I sold a bit coin for $540 and was told the money would be in my account by Feb 25th.  Coinbase says the transaction was complete.  My bank says no money has been received and no money is pending. I know my bank info is correct because coinbase withdrew money from my bank with ease.  But the money seems to have disappeared between coinbase and my bank.  Someone please help!

Five post newbie fud with three post in this thread a lone.

I have had literally hundreds of transactions in both directions without a single mishap.

Obviously your first Bitcoin withdrawal.

I would suggest you contact Coinbase and yes they have support contact.

You will probably find easier on their site than here.


108  Bitcoin / Bitcoin Discussion / Re: The Bitcoin Crooks are not Who We Thought They Were on: February 28, 2014, 04:41:22 PM
It's better to learn now while the price per coin is still reasonable.
109  Economy / Service Discussion / Re: What if BTC-e shuts down? on: February 28, 2014, 04:38:18 PM
Only keep what you can afford to lose on the exchanges
110  Economy / Goods / Re: WTB Prepaid Credit Card For HULU Services!! on: February 28, 2014, 04:29:03 AM
I have one. It is a Visa is that okay?
111  Economy / Goods / Re: New Physical Bitcoin: This Represents a New Standard Folks on: February 28, 2014, 03:49:53 AM
These are beautiful! I am about to order a few myself.
112  Economy / Economics / Re: Market Rate Essentially Flat Past 8 hrs on: February 28, 2014, 02:58:34 AM
wow, I can't believe it, I'm ready to buy or sell if the market would just make a substantial move in either direction, but it keeps making tiny moves in alternate directions, I have not seen this all year (well for two months, ok)

any thoughts on what's keeping things flat?

Have you ever traded in any market before? This is standard.
113  Economy / Trading Discussion / Re: best way to trade bitcoin for usd on: February 28, 2014, 02:50:35 AM
I heard MtGox is the quickest and most secure way to get rid of your Bitcoins.
114  Other / Off-topic / Re: Mark Karpeles - Man of the Year on: February 28, 2014, 02:42:29 AM
Mark is
Man At Large of The Year 2014

115  Bitcoin / Bitcoin Discussion / Re: Potential proof that Mt. Gox still has all our bitcoins. on: February 28, 2014, 02:09:19 AM
Whether we get our coins back or not this is going to be a loooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo oooooooooooooooooooooooooooooooooooooooooooooooooooooooong process.
116  Bitcoin / Bitcoin Discussion / Re: Leaked: Just before Bitcoin catastrophe, MtGox dreamed of riches on: February 28, 2014, 02:01:15 AM
Very interesting article thank you!
117  Bitcoin / Bitcoin Discussion / Re: Wait a minute, is this really possible? on: February 28, 2014, 01:51:22 AM
I started using Gox back in 2011 cause I was still new, I sold 50-100 coins when the price was 25-30 dollars at the time. Now you are telling me that I could potentially be asked forced to RETURN the money???

Tbh I wouldn't worry about this right now. If something like that ever happened I'm sure the statute of limitations would be long gone. Just be glad you actually got out before now.
118  Economy / Service Discussion / Re: Somehting Tells Me Mark Karpeles Could Care Less on: February 28, 2014, 01:42:47 AM


nothing about this guy speaks to remorse or shame.

it's like he's just going to disappear into the night.

Sounds about right but since he is an easily recognizable character and the bitcoin community is so widespread and resourceful, he will always be found.
119  Economy / Service Discussion / Re: Anyone who had btc on gox since 2011 could be affected on: February 28, 2014, 01:33:53 AM
rewind Huh never going to happen!

FYI: Gox did a "rewind" in 2011, reversing the trades that took BTC down to a penny.

You are talking about two different things.

Rewinding trades with funds extant only on the exchange, for which only funds in the exchange can be affected along with the operator of the exchange.

And going outside the exchange to recover funds which may not be recoverable any other way.

Very well put
120  Bitcoin / Bitcoin Discussion / Re: I am a bitcoin merchant and my company just paid its first Bitcoin invoice on: February 28, 2014, 01:25:53 AM
Wow congrats!!! I don't know much about that company but I hope it works out well for you!
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