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Author Topic: How much should physical Casascius Bitcoin cost today ?  (Read 1523 times)
monbux
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May 19, 2015, 10:09:40 PM
 #21

you can get them from camolist for 1.3 here https://bitcointalk.org/index.php?topic=131828.0

Camolist has increased the price to 1.35BTC.

Not too bad considering they used to be like twice the price.  I probably still wouldnt buy one tbh, they are probably good as gifts to people who cant work a digital wallet though.
I had expected my 0.5 brass casascius to rise in price after I purchased it like half a year ago.  It is still the same price in bitcoin, but it has actually dropped as for the bitcoin price was ~$500 when I bought it, I believe.
digicoinuser
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May 19, 2015, 11:13:40 PM
 #22

Thanks for that, I was under the impression those were just cheap China coins and had no idea they were a replica of an actual coin (Antana Statistic).    Smiley

I hope the upcoming book that comes out regarding physical bitcoins has enough information to be able to tell the difference between these types of counterfeits.

I think it will, IIRC I saw where elianite said there will be a section on counterfeits, and elianite knows his shit pretty well. I think his book will become the authoritative reference book on all physical cryptos, sort of like the Red Book that every coin shop owner owns is for US coins. I can't wait to see his finished product, that will be very cool.

Definitely, I need to reserve a copy.

sgk
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May 20, 2015, 04:08:22 AM
 #23

I wonder if there will ever be a serious attempt at counterfeiting?

Gotta be a dead cert, surely?

There's enough Chinese coins on Ebay 'inspired' by established designs, though none of them try to pass themselves off as genuine.

It would only take a bit more precision to have a try at making a funded replica but there's probably not enough demand yet.


What if someone seriously invests some time in creating a fake casascius coin that looks and feels exactly the same but dows not have a private key?
And then sells them for 1.3 BTC each or so, claiming it to be the original coin, rare collector's item.

We haven't yet seen this happening, but this might be the same fraud as it happens with fiat money - counterfeit dollar bills.
miffman
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May 20, 2015, 04:52:22 AM
 #24

I wonder if there will ever be a serious attempt at counterfeiting?

Gotta be a dead cert, surely?

There's enough Chinese coins on Ebay 'inspired' by established designs, though none of them try to pass themselves off as genuine.

It would only take a bit more precision to have a try at making a funded replica but there's probably not enough demand yet.


What if someone seriously invests some time in creating a fake casascius coin that looks and feels exactly the same but dows not have a private key?
And then sells them for 1.3 BTC each or so, claiming it to be the original coin, rare collector's item.

We haven't yet seen this happening, but this might be the same fraud as it happens with fiat money - counterfeit dollar bills.

The problem is that it's really expensive and difficult. Creating a hologram exactly the same will be very very pricey,  not to mention finicky since there are lots of little hidden things in the text.














 

 

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TookDk
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May 20, 2015, 04:50:39 PM
 #25

I wonder if there will ever be a serious attempt at counterfeiting?

Gotta be a dead cert, surely?

There's enough Chinese coins on Ebay 'inspired' by established designs, though none of them try to pass themselves off as genuine.

It would only take a bit more precision to have a try at making a funded replica but there's probably not enough demand yet.


What if someone seriously invests some time in creating a fake casascius coin that looks and feels exactly the same but dows not have a private key?
And then sells them for 1.3 BTC each or so, claiming it to be the original coin, rare collector's item.

We haven't yet seen this happening, but this might be the same fraud as it happens with fiat money - counterfeit dollar bills.

There is one known case of a Casascius counterfeit, it was listed both on ebay and here on the market place:
https://bitcointalk.org/index.php?topic=437465.0
http://www.ebay.com/itm/Funded-Casascius-25-BTC-Physical-Bitcoin-2011-V2-/281254829549?pt=US_World_Coins&hash=item417c181ded

The case is also mentioned in Eliantes ebook on Casascius:
http://www.coinfirm.org/

To summarize all the drama:
There was two user here on bitcointalk that ended up having a 25 BTC Casascius coin with identical public addy (what a nightmare that must have been).
Mike Caldwell himself determined fairly easy which one that was fake, since this particular coin was never sold from Casascius, Mike gave it as a present to one of his close friends, and that friend had later sold it to the user on this forum.

I am not aware of any cases since this one.

Cryptography is one of the few things you can truly trust.
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