Physical bitcoins selling for absurd prices!!

[MagicBit15]

Hope you guys saved up on the originals!!

http://www.ebay.com/itm/190814922588

[1714960780]

1714960780

[1714960780]

1714960780

[Nesetalis]

see... theres a silly problem with this.. give us another couple years and bitcoins might be 600$ :p or more! hes selling it on the cheap!

But in all seriousness, kinda silly.

[pinger]

Is the first edition of possible, the future world wide currency. If all works as planned, that coin can be a very good investment for collectors.

But I found it a bit overprice right now.

[MagicBit15]

Is the first edition of possible, the future world wide currency. If all works as planned, that coin can be a very good investment for collectors.

But I found it a bit overprice right now.

Indeed!!

[Mike Christ]

I haven't been on eBay in a long time, but, what's going on here?  Looks like the same guy keeps bidding himself up.  I don't quite understand how it got to $500.

[simonk83]

Hope you guys saved up on the originals!!

http://www.ebay.com/itm/190814922588

tl;dr  People are stupid.

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Doesn't a physical bitcoin kind of defeat the original purpose of bitcoin?

[Melbustus]

Doesn't a physical bitcoin kind of defeat the original purpose of bitcoin?

Yes, but they're fun to show to friends and family. I gave a bunch out as stocking stuffers over the holidays (best stocking gift ever!). It gets the conversation started. Two of the people I gave them to now have bitcoin wallets and mtgox accounts.

Edit: Also, it's a great way for the non-technically savvy to store a few bitcoins. I have a relative that asked me to buy her some. Her plan was to just toss them into a box with a few gold coins.

[Yogafan00000]

I bet someone is just pumping up bitcoins in general by placing the coins for auction and bidding up the price on ebay themselves.  Basically free advertising to get the real market prices higher.

[gradient vector]

Doesn't a physical bitcoin kind of defeat the original purpose of bitcoin?

Yes, but they're fun to show to friends and family. I gave a bunch out as stocking stuffers over the holidays (best stocking gift ever!). It gets the conversation started. Two of the people I gave them to now have bitcoin wallets and mtgox accounts.

Edit: Also, it's a great way for the non-technically savvy to store a few bitcoins. I have a relative that asked me to buy her some. Her plan was to just toss them into a box with a few gold coins.

Yea, sounds like a great marketing tool for a startup.

Best stocking gift ever is an understatement. Can you imagine your relative stashing that bitcoin for a few years only to realize they're thousands of dollars wealthier.

[Richy_T]

It's important to remember that these aren't actual bitcoins, just tokens containing a wallet preloaded with 1 BTC. I suspect the first ones will be worth a healthy amount one day though (though that price is a bit overboard IMO).