[2015-07-04]'Fresh Bitcoins are better': BlockTrail Mint sells freshly mined BTC

[tyz]

The Bitcoin company BlockTrail has developed a new platform called Mint, a consumer-focused service that enables anyone to buy BTC sourced directly from Bitcoin miners. According to Blocktrail, an Amsterdam-based company that provides secure Bitcoin infrastructure for developers and businesses, this is the first time new digital coins will be directly available to the consumer.

https://99bitcoins.com/fresh-bitcoins-better-blocktrail-mint-sells-freshly-mined-btc/

[RustyNomad]

For now it’s only possible to buy freshly mined Bitcoins using BTC, but the recently launched Mint plans to add a fiat currency payment option in the near future.

If you can only buy newly mined btc for bitcoin it's going to result in them sitting with a horde of 'old' bitcoin. Wonder what they plan on doing with those, most probably sell them off on other exchanges.

[gentlemand]

The moment you spend or receive they're diluted with those dirty old coins. This shouldn't ever be thought of as a selling point. Otherwise the whole thing is ultimately pointless.

[dwdoc]

If fresh bitcoins are better then all bitcoins are worthless, not fungible.

[colinistheman]

It's just a gimmick for trying to make money.

[unamis76]

This is just absurd... how come freshly mined coins are different? I wouldn't even pay extra for the coins on Satoshi's addresses.

Come on... I bet this will only cheat folks that are new around. just the other day, a new member was asking if freshly mined coins are worth more, and now this. Huge lol.

[RustyNomad]

Can I buy those 'freshly mined' coins with normal dollars or must I also first get unused dollars to buy them?

Was just wondering about this earlier....

[bryant.coleman]

Can I buy those 'freshly mined' coins with normal dollars or must I also first get unused dollars to buy them?

As given in the article, BlockTrail Mint does not accept payments in the form of US Dollar. You need to pay them with (old) Bitcoins, to receive freshly mined Bitcoins. It is like paying $110 in old United States Dollar banknotes, to receive a freshly printed $100 banknote of 2015 vintage. They are trying to fool normal Bitcoiners and that's all.

[gentlemand]

As given in the article, BlockTrail Mint does not accept payments in the form of US Dollar. You need to pay them with (old) Bitcoins, to receive freshly mined Bitcoins. It is like paying $110 in old United States Dollar banknotes, to receive a freshly printed $100 banknote of 2015 vintage. They are trying to fool normal Bitcoiners and that's all.

I'm sure there'll be a few suckers just aching to immediately devalue their brand new coins. What is the premium if any? I can't find any mention of it anywhere.

[gogxmagog]

This is ridiculous, they are hoping to exploit the fears of law abiding citizens that old BTC have been tarnished by being used for illegal activity. The whole mint company will probably turn out to be just another scam. I'll be watching with morbid curiosity

[jbrnt]

My first reaction was why are freshly minted coins better? There is no service or merchant who refuse to accept "old" coins. US Marshalls sold bitcoin confiscated from Silk Road, auctions winners don't care they are "drug money".

Then I thought about those holding actual "drug money" and bitcoin mixers. BlockTrail's customers are not us. If you are running a illegitimate business, you want to clean your coins, save them and spend them few years later with no links to illegal activities. What's better than holding freshly mined coins?

They are effectively running a laundering service!