Why do people trust Casascius so much?

[dust]

Q. It's impossible to prove you didn't keep the private keys, and with all the Bitcoin scams lately, why should I believe you?

A.  I have given out my real-world identity and have digitally signed a list of the Bitcoin addresses used in this project.  I have made it so that it if I were to perpetrate a scam, it would be possible to prove it and to hold me legally accountable - something no scammer wants to do.  You should demand the same from anyone handling your cryptocurrency.

https://www.casascius.com/faq.aspx

That's nice, but what if his wife gets rare expensive cancer. Also he could set it up to give the keys to his illegitimate son or mistress none of us know about on his death.

I guess we just trust that since he didn't plan any of that (esp cancer) he doesn't even have the keys.

I don't think it is a high % risk, but it could end up being billions of dollars worth, so a better solution would be good.

It is my understanding that he currently destroys his record of the private keys.  He would be unable to "change his mind" due to life circumstances and steal the money from previous coins.

[casascius]

It is my understanding that he currently destroys his record of the private keys.  He would be unable to "change his mind" due to life circumstances and steal the money from previous coins.

Since it's impossible for me to prove that, when discussing the risk of owning my coins, it's prudent and reasonable to discuss the what-if's and their appropriate mitigation strategies with the assumption that I might be lying about that for my own benefit.  Don't worry, I won't be offended...

[kokojie]

what is casascius's real world identity? I seems to have missed it.

His website is pretty clear on that: https://www.casascius.com/

It seems to me he's taken enough precautions to minimize risk, probably even more precautions than I would do myself, so I feel pretty confident my measly 2x 10btc coins are safe.

Thanks, so UTAH, casascius is a mormon?

[Dansker]

The nature of his replies in this thread serves to give him extra credit.

[Puppet]

Even if he ever runs of with my bitcoins, it will still have been worth it just for the coins.
That they also happen to be worth 1 or 5 BTC is of less importance to me. Just something to have and give and it will probably never be redeemed.

Id feel differently with the higher nomination coins.

[Transisto]

I always though of it as a novelty item and have enough imagination to feel I'm holding one.

I cannot understand why someone would be risking 1000btc on this though.

Even if he ever runs of with my bitcoins, it will still have been worth it just for the coins.
... Just something to have and give and it will probably never be redeemed.
...

I think you have a business model here. (fiat)

[Mushroomized]

Hes a pretty cool dude for making those coins

[Mike Hearn]

I think it goes without saying that Mikes coins, whilst very neat (I have a few myself) are more toys than a critical part of the Bitcoin system. In their purely electronic form Bitcoins will always be more convenient than physical coins, assuming you have any kind of reasonable smart phone.

If you don't trust Mike to not have destroyed the private keys, don't buy his coins. Problem solved.