[TEASER] - showing if a coin is funded/unfunded (Opinions needed)

[miffman]

So coins have been making some progress, but not enough to post a new pic just yet

I do want some opinions again though:

So I've been thinking of different ways to cater for both funded and unfunded. I'd like to mark the coin in some way to let the buyer know the coin was originally unfunded. A known way is to just get the holo lasered. I've already contacted some people to enquire about lasering my holo since I don't have one myself.

Another way was to mark the first bits in a different colour. (I'm not keen on this, an outsider might just look past it)

A third way was to replace the address first few characters in the transparent window with some text that says 'unfunded' or something similar. The address of the coin for funding would then correspond to it's number (since all coins are numbered) on a pgp signed list of addresses.

If the lasering doesn't work out, I'd look at going with option 3. There would be a lot more book keeping and address checking, but I'm willing to do it. If anyone doesn't like this idea, please let me know why. And if you do, let me know too

Thanks!

[wheelz1200]

I would go the lealana route, easily distiguishable between funded and unfunded coins.  Different colors might not be known to the average buyer, therefore slight chance of being duped.

[chronicsky]

Buyer Funded lasering sounds best

[miffman]

I would go the lealana route, easily distiguishable between funded and unfunded coins.  Different colors might not be known to the average buyer, therefore slight chance of being duped.

Buyer Funded lasering sounds best

Thanks for the reply If the lasering doesn't work out (I will phone around as far as I can though), do you think option 3 would be suitable?

[NattyLiteCoin]

I'm a noob in this physical coin business, but I've chosen an UNFUNDED, laser etched keys motif for my first run. Folks have asked for blanks, as well. That's cool, let folks manage the value of the piece. There will be a couple that will be funded for collectible purposes. But it should be up to the purchaser to load as much (or as little) crypto they want. For example, I have a lealana 10LTC with a 100LTC on it. I hope it will have 1000 on it soon. I'd rather just manage the coin and know it has 423.35637 LTC on it rather than the coin face dictating how many coins are captured in that address.

[wheelz1200]

I would go the lealana route, easily distiguishable between funded and unfunded coins.  Different colors might not be known to the average buyer, therefore slight chance of being duped.

Buyer Funded lasering sounds best

Thanks for the reply If the lasering doesn't work out (I will phone around as far as I can though), do you think option 3 would be suitable?

Oh yes option3.  For me that would be fine (i want mine funded  )
But even for the coins with just first bits, there needs to be a list somewhere for addresses, so i guess that will work as well

[wheelz1200]

I'm a noob in this physical coin business, but I've chosen an UNFUNDED, laser etched keys motif for my first run. Folks have asked for blanks, as well. That's cool, let folks manage the value of the piece. There will be a couple that will be funded for collectible purposes. But it should be up to the purchaser to load as much (or as little) crypto they want. For example, I have a lealana 10LTC with a 100LTC on it. I hope it will have 1000 on it soon. I'd rather just manage the coin and know it has 423.35637 LTC on it rather than the coin face dictating how many coins are captured in that address.

Understand and people could look at it 2 ways, for just straight loading a coin with random btc, or litecoin i personally would use a non denominational coin like silver wallets.  You can see people who overload cas coins its tough to get rid of it for any premium, but if you are looking for just storage and not resale either way could work.

[NattyLiteCoin]

Plus making a coin is expensive enough, to say there's a x BTC premium above spot and design is a tough sale unless people love to collect your product. Especially if you're loading it with a $740 BTC today and it's a $850 BTC when the coin gets minted. A lot of moving parts IMO. There's way more risk then When cas started this thing.

[vizique]

It's always nice to have options and as price climbs even the smallest amounts added to cost of coin could marginalise some people out.

If you want sales, then options to me, is the way forward.

If limited runs, then reduce the options too.

[NattyLiteCoin]

It's always nice to have options and as price climbs even the smallest amounts added to cost of coin could marginalise some people out.

If you want sales, then options to me, is the way forward.

If limited runs, then reduce the options too.

If OGN gets the nastyfans seats working, that's the way to do a crypto coin. Inexhaustable payments allocated to the the address associated with the piece. That's actually my final answer.

[miffman]

Thanks for the replies everyone the idea is not to have a non-denominated coin, but a coin with the option of funding. It is riskier, but if done properly it could work.

Still looking to hear what others say about the proposed solution if the lasering does not work out.

[FFrankie]

How do people in the US receive funded coins? Does someone just do a group buy and then distribute them? But how does the person doing the group buy get them in the first place because I assume they are in the US too. My vote is The option of unfunded

[Zeroxal]

How do people in the US receive funded coins? Does someone just do a group buy and then distribute them? But how does the person doing the group buy get them in the first place because I assume they are in the US too. My vote is The option of unfunded

They receive the coins from miffman directly. Just like any other coin, they get shipped to your address. No idea what you're talking about group buys.
I assume you just want the sig payout from yobit.

[FFrankie]

How do people in the US receive funded coins? Does someone just do a group buy and then distribute them? But how does the person doing the group buy get them in the first place because I assume they are in the US too. My vote is The option of unfunded

They receive the coins from miffman directly. Just like any other coin, they get shipped to your address. No idea what you're talking about group buys.
I assume you just want the sig payout from yobit.

Its illegal unless they have a money transmitter license. So that is why I asked. If it wasnt illegal/frowned upon then casascius would probably still be doing his thing.

[TookDk]

How do people in the US receive funded coins? Does someone just do a group buy and then distribute them? But how does the person doing the group buy get them in the first place because I assume they are in the US too. My vote is The option of unfunded

They receive the coins from miffman directly. Just like any other coin, they get shipped to your address. No idea what you're talking about group buys.
I assume you just want the sig payout from yobit.

Its illegal unless they have a money transmitter license. So that is why I asked. If it wasnt illegal/frowned upon then casascius would probably still be doing his thing.

Don't be so sure, there was more to it then that:

Reasons I'm likely to not sell more coins:

1. Don't want compliance hassle of being a money transmitter (this was a hobby project meant to promote awareness - moving money was never an objective)
2. Don't want security risk (the more valuable bitcoins get, the more professional the security must be and the more sophisticated attacks I must anticipate)
3. Don't want to make a mistake and become a bitcoin poster child (like Charlie Shrem, I feel like I'd be a high value prosecution target if I were to make some sort of legal mistake, just for my visibility alone)
4. Mission already accomplished (original mission was to help people become aware of bitcoin and to help people start conversations about it)
5. An appropriate mission nowadays would be to encourage people to store their own bitcoin safely on self-produced paper wallets instead of trusting others without recourse.  Continuing to produce other people's private keys is perverse toward that objective.
6. I feel like the more coins I sell, the more I accumulate a presumed liability in the form of people who must trust me not to scam them.  What happens if someone calls my trustworthiness into question, even without cause?  Then people might think I lied and kept the keys, and then someone might want to harm me.  Not what I signed up for.
7. I don't want to be in over my head.  Look at Mark Karpeles, his life is probably now ruined.  He could and should have quit while he was ahead.
8. It's honestly fun to see my past coins skyrocket in value.  That was never anticipated in the beginning, but I will be honest, I enjoy seeing them fetch ever higher prices on the secondary market.

[vizique]

Thanks for that, hadn't seen the post from Mike directly
And he talks an enormous amount of sense and it's a cautionary tale for those making coins (and their customers) now

Don't be so sure, there was more to it then that:

Reasons I'm likely to not sell more coins:

1. Don't want compliance hassle of being a money transmitter (this was a hobby project meant to promote awareness - moving money was never an objective)
2. Don't want security risk (the more valuable bitcoins get, the more professional the security must be and the more sophisticated attacks I must anticipate)
3. Don't want to make a mistake and become a bitcoin poster child (like Charlie Shrem, I feel like I'd be a high value prosecution target if I were to make some sort of legal mistake, just for my visibility alone)
4. Mission already accomplished (original mission was to help people become aware of bitcoin and to help people start conversations about it)
5. An appropriate mission nowadays would be to encourage people to store their own bitcoin safely on self-produced paper wallets instead of trusting others without recourse.  Continuing to produce other people's private keys is perverse toward that objective.
6. I feel like the more coins I sell, the more I accumulate a presumed liability in the form of people who must trust me not to scam them.  What happens if someone calls my trustworthiness into question, even without cause?  Then people might think I lied and kept the keys, and then someone might want to harm me.  Not what I signed up for.
7. I don't want to be in over my head.  Look at Mark Karpeles, his life is probably now ruined.  He could and should have quit while he was ahead.
8. It's honestly fun to see my past coins skyrocket in value.  That was never anticipated in the beginning, but I will be honest, I enjoy seeing them fetch ever higher prices on the secondary market.

[miffman]

About the questions and solutions I posted yesterday, I thought of another alternative of printing onto the hologram with an inkjet. I still think that either the lasering or the pgp signed list would be the better of the options.

[Decoded]

Maybe just sell some funded, and some DIY? Maybe mark one of the types' holograms so it can be easily distinguishable.