[AUCTION] 20x Denarium 1 BTC Physical Bitcoin

[Mitchell]

The current list:

Code:

bigbeninlondon @ 0.40
wttbs @ 0.35
ezeminer @ 0.35
bithalo @ 0.31
dazedfool @ 0.31
dazedfool @ 0.31
macx93 @ 0.31
macx93 @ 0.31
RoadStress @ 0.30
RoadStress @ 0.30
blubberli @ 0.30
notig @ 0.30
notig @ 0.30
dozerz @ 0.30
dozerz @ 0.30
ylo @ 0.29
ylo @ 0.29
c0inwhale @ 0.28
klondike_bar @ 0.28
miffman @ 0.28

[minerjones]

1 @ 0.33

[Technomage]

We are currently going all-in on the newsletter front, yesterday and today, so it's expected that there will be newbie bidders showing up. Just so you guys know.

[minerjones]

We are currently going all-in on the newsletter front, yesterday and today, so it's expected that there will be newbie bidders showing up. Just so you guys know.

How to sign up for news letter?
I did not receive message/email

Thanks

[Pistachio]

We are currently going all-in on the newsletter front, yesterday and today, so it's expected that there will be newbie bidders showing up. Just so you guys know.

I received your newsletter. I don't know if this was addressed before, but can you confirm that the funds from this auction will not be used to finance the production of these coins?

I ask because reserving a product already in production and paying for it's production are two different things. We all know there are many steps in the process where things can go wrong. This could be very risky for customers if you don't have the capital in reserve to refund orders if the worst case scenario happens and the coins are lost in customs in China (which really happened to Gravitate).

Also, please clarify if such a worst case scenario happened, would you be refunding based on the exchange rate or actual amount of BTC paid. I have been in this situation before and I don't want to repeat the hassle of trying to negotiate this after the fact. Blackarrow played this game of only refunding the BTC amount to people when the exchange rate was low and only refunding the original USD value when it was high.

[hybridsole]

1 @ .32

[Mitchell]

The current list:

Code:

bigbeninlondon @ 0.40
wttbs @ 0.35
ezeminer @ 0.35
minerjones @ 0.33
hybridsole @ 0.32
bithalo @ 0.31
dazedfool @ 0.31
dazedfool @ 0.31
macx93 @ 0.31
macx93 @ 0.31
RoadStress @ 0.30
RoadStress @ 0.30
blubberli @ 0.30
notig @ 0.30
notig @ 0.30
dozerz @ 0.30
dozerz @ 0.30
ylo @ 0.29
ylo @ 0.29
c0inwhale @ 0.28

[miffman]

1@0.29

[notig]

Don't mean to derail the thread i'm just wondering something... if the trustless coin uses 2 of 2 that means a private key is on the coin and you also have a private key. You need both to spend the funds. But how do you get hold of the public address so you can load the coin properly without knowing both of the keys? Can you derive a public address from just half the key?

[Zouppen]

1 @ 0.34

[Mitchell]

The current list:

Code:

bigbeninlondon @ 0.40
wttbs @ 0.35
ezeminer @ 0.35
zampsa_p @ 0.34
Zouppen @ 0.34
minerjones @ 0.33
hybridsole @ 0.32
bithalo @ 0.31
dazedfool @ 0.31
dazedfool @ 0.31
macx93 @ 0.31
macx93 @ 0.31
RoadStress @ 0.30
RoadStress @ 0.30
blubberli @ 0.30
notig @ 0.30
notig @ 0.30
dozerz @ 0.30
dozerz @ 0.30
ylo @ 0.29

[miffman]

1@0.31

[Technomage]

How to sign up for news letter?
I did not receive message/email

It was sent to all previous customers I believe. Right now the easiest way to join is to simply send a PM to me and I'll add you to the list. We don't have a form for that yet.

[Technomage]

I received your newsletter. I don't know if this was addressed before, but can you confirm that the funds from this auction will not be used to finance the production of these coins?

I ask because reserving a product already in production and paying for it's production are two different things. We all know there are many steps in the process where things can go wrong. This could be very risky for customers if you don't have the capital in reserve to refund orders if the worst case scenario happens and the coins are lost in customs in China (which really happened to Gravitate).

Also, please clarify if such a worst case scenario happened, would you be refunding based on the exchange rate or actual amount of BTC paid. I have been in this situation before and I don't want to repeat the hassle of trying to negotiate this after the fact. Blackarrow played this game of only refunding the BTC amount to people when the exchange rate was low and only refunding the original USD value when it was high.

This is a very important question and I certainly need to explain how it works. First of all the financing of the coins is not really an issue as we have income from our other Bitcoin business lines. Denarium is not our biggest revenue generator, not even close. Not yet at least.

Then the important part: refunds. The refunding actually works a little bit different for the auctioned coins and the coins sold at our website. As on our website we have a policy which basically protects us from exchange rate risk (physical coin value always priced in EUR, bitcoin value always priced in BTC) but I did not mention this in any way whatsoever in the auction post which means we have will give out the potential refunds for auctioned coins with the full bitcoin value that was paid after the auction.

This means that for everyone's safety we will be storing all of the funds from the auctions separately and keep them untouched. With the coins sold at the website we store the loaded bitcoin value as bitcoins of course but the physical coin value becomes a normal part of our regular cash reserves.

So to summarize, no one needs to worry about the refunds. Especially for these auctions. For coins sold at the website please take care to read our refund policy from the FAQ so that you know how it works.

[Technomage]

Don't mean to derail the thread i'm just wondering something... if the trustless coin uses 2 of 2 that means a private key is on the coin and you also have a private key. You need both to spend the funds. But how do you get hold of the public address so you can load the coin properly without knowing both of the keys? Can you derive a public address from just half the key?

Anyone who orders a multisig coin needs to send us the full public key they want linked to the multisig address. Then we will generate the address and the public address with QR codes etc will be sent in the package separately. On a piece of paper.

For aftermarket purposes anyone will be able to verify from the other private key that it is part of the multisig solution and can be used to access the funds. In case someone wants to sell a multisig Denarium. It can be done and will be secure as long as the coin and its hologram is secure.

[Technomage]

Finally I would like to add that anyone can create their own multisig solution using any of our newly produced coins. The full public key of the coin's own address will be delivered which means that any and all 1 BTC and Custom Value coins can be used to create a multisig solution afterwards as well.

[RoadStress]

We are currently going all-in on the newsletter front, yesterday and today, so it's expected that there will be newbie bidders showing up. Just so you guys know.

I'm replacing my previous bet to 2 @ 0.33.

Thank you.

[Mitchell]

Currrent list:

Code:

bigbeninlondon @ 0.40
wttbs @ 0.35
ezeminer @ 0.35
zampsa_p @ 0.34
Zouppen @ 0.34
minerjones @ 0.33
RoadStress @ 0.33
RoadStress @ 0.33
hybridsole @ 0.32
bithalo @ 0.31
dazedfool @ 0.31
dazedfool @ 0.31
macx93 @ 0.31
macx93 @ 0.31
miffman @ 0.31
blubberli @ 0.30
notig @ 0.30
notig @ 0.30
dozerz @ 0.30
dozerz @ 0.30

[Lairew]

1@ 0.31BTC

[dozerz]

2 @ 0.32