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Author Topic: AUCTION - 8 rolls of new 0.5BTC Casascius Coins  (Read 11559 times)
El Cabron
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April 09, 2013, 02:24:46 AM
 #61

Can some one please tell me how many hours are left. Thanks

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
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April 09, 2013, 05:23:21 AM
 #62

High-resolution photos of rolls #1 and #2 (more forthcoming)

https://casascius.com/roll-2013-04-06-1-12122Pkz-lot-121.pdf

https://casascius.com/roll-2013-04-06-2-12119ceg-lot-121.pdf

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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April 09, 2013, 05:58:06 AM
 #63


I'm aware this is not an implementation of the process you described above (putting hash of high-res scan of coins into blockchain), but it's a scan of coins.

how is it possible from such scan to infer a given coin is exactly one of the individual coins shown. I surely couldn't do it. Maybe if the scan was higher-res so I would be able to make out irregulatrities within the brass base.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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April 09, 2013, 05:59:04 AM
 #64


I'm aware this is not an implementation of the process you described above (putting hash of high-res scan of coins into blockchain), but it's a scan of coins.

how is it possible from such scan to infer a given coin is exactly one of the individual coins shown. I surely couldn't do it. Maybe if the scan was higher-res so I would be able to make out irregulatrities within the brass base.

Another question (I know Mike has stated this somewhere, but I can't find it): what's the (exact) diameter of the 0.5 BTC coins?

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
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April 09, 2013, 06:05:43 AM
 #65

I'm aware this is not an implementation of the process you described above (putting hash of high-res scan of coins into blockchain), but it's a scan of coins.

how is it possible from such scan to infer a given coin is exactly one of the individual coins shown. I surely couldn't do it. Maybe if the scan was higher-res so I would be able to make out irregulatrities within the brass base.

I just haven't digitally signed these yet as my HSM is not nearby.

The image is 600dpi...how much resolution do you need?  (The PDF can be zoomed)

Unique characteristics of each coin include the exact placement of the label, the positioning of the transparent window, and the positioning of the text through that window, as well as any unique micro-defects.  All of these vary and are unique per coin.

The coin is 1.00 inches in diameter.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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April 09, 2013, 07:20:40 AM
 #66

I'm aware this is not an implementation of the process you described above (putting hash of high-res scan of coins into blockchain), but it's a scan of coins.

how is it possible from such scan to infer a given coin is exactly one of the individual coins shown. I surely couldn't do it. Maybe if the scan was higher-res so I would be able to make out irregulatrities within the brass base.

I just haven't digitally signed these yet as my HSM is not nearby.

The image is 600dpi...how much resolution do you need?  (The PDF can be zoomed)

Unique characteristics of each coin include the exact placement of the label, the positioning of the transparent window, and the positioning of the text through that window, as well as any unique micro-defects.  All of these vary and are unique per coin.

The coin is 1.00 inches in diameter.

The bolded part was what I was looking for.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
Jutarul
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April 09, 2013, 07:42:13 AM
 #67

via Imgflip Meme Generator

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April 09, 2013, 08:53:49 AM
 #68

What is the exact ending time of the auction in GMT 0?

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April 09, 2013, 09:00:14 AM
 #69

Mike. No one can criticize you for seeking a 'reasonable' rate. Just dont think its your business to create the market, you state is there. Your value is in your production methods and integrity, not trying to build Ebay-esk markets. Moreover, does it not cheapen it?
Just dont think people will understand why you just cant state a fair price.

If the rate I charge is too low, the entire production will fly off the shelf and I will be stuck with willing and ready buyers willing to pay a far higher price than the one I'm charging, with no product to deliver them.  Whom exactly does that benefit?

On the other hand, if I happen to make a nice profit in the process, I end up with the means to increase production and quality.  I can suddenly afford, and make the business case, to go find and get some robotics to make enough of these things to satisfy the market demand, possibly at a lower price.  I can suddenly tell my silver coin supplier, hey, look, you need to prioritize my order, because I can afford to pay you for bigger orders at a higher tier.  I can start to afford to segregate the created products by quality and simply discard the lowest quality specimens so I'm only delivering the best of my product.  Ultimately, profits for me are good, because they directly lead to my ability and willingness to supply the market with a higher quality cut of the product being demanded.

So, no, it does not cheapen it, to answer your question.  And when the price I'm willing to sell equals the price people are willing to pay, it's very fair.  I will have competitors offering a lower cost product soon enough, probably using software I've given away for free and broadcast loud and clear "use this at no cost to you" to generate private keys for their own product, which I think is more than fair.

Ok. Im just going to make a few points one more time, and then im done.

Just to echo molecular points. If someone/reseller had an idea to sell your coins in a business like/defined way, they can no longer do that due to supply being inconsistent and/or disrupted (you dont seem confident how and when these will go on sale, going forward). This, together with unknown prices from one auction to the next, does not instill any confidence, in a possible opportunity or benefit for a re-seller, other than pure speculation, which is where the magic starts to dissolve and dissipate!  Sad
      
Ive read your thoughts about competitors elsewhere, as well as here, so it appears a firm belief for you, that some other outfit is going to challenge and compete directly with what you have created here. Mike, its not going to happen, anytime soon. Im wondering if your perspective/position, is allowing you to fully appreciate the value in brand Casascius. Yes, someone could challenge you, and possibly should, but for others to replicate what you have built in terms of integrity, value, and desire, is years away, if at all.

Im done. Thanks for the attention.
 


 
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April 09, 2013, 09:04:55 AM
 #70

Auction ends April 10, 2013, 23:59 UTC.

I bid 31.7 BTC for roll 1.
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April 09, 2013, 11:17:15 AM
 #71


I am going to treat this as not a bid and ask that no images that could be construed as bids be posted to this thread to avoid confusion.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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April 09, 2013, 12:01:20 PM
 #72

I am willing to pay 32 BTC for any roll and am willing to buy two rolls

Coinbase for selling BTCs or Vircurex for trading alt cryptocurrencies like DOGEs
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April 09, 2013, 03:57:01 PM
 #73

by attorney -- Newbie-Restrictions
"I bid 33 BTC for any available roll"

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April 09, 2013, 05:11:37 PM
 #74

pic

I am going to treat this as not a bid and ask that no images that could be construed as bids be posted to this thread to avoid confusion.
bummer.

Anyway. Offer still stands. Make it 32.1 BTC for one roll. Doesn't matter which one.

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April 09, 2013, 10:54:27 PM
 #75

I thought I'd comment to say that I would like to see them sold through the regular website like always, but with a minimum order level of 100 BTC or whatever level Casascius feels relieves him of the burden of retail sales.

Surely managing this auction takes more effort than shipping out 4 100 BTC orders made on the website.

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April 09, 2013, 11:13:23 PM
 #76

32.2 BTC for one roll
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April 10, 2013, 12:24:12 AM
 #77

Auction is over, right?

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April 10, 2013, 12:26:05 AM
 #78

Auction is over, right?

"Auction ends April 10, 2013, 23:59 UTC."
El Cabron
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April 10, 2013, 03:48:10 AM
 #79

31.7 for roll one.

On my phone and im not sure if this a valid bid.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
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https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
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Mike Caldwell
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April 10, 2013, 04:26:31 AM
 #80

I thought I'd comment to say that I would like to see them sold through the regular website like always, but with a minimum order level of 100 BTC or whatever level Casascius feels relieves him of the burden of retail sales.

Surely managing this auction takes more effort than shipping out 4 100 BTC orders made on the website.

The problem isn't the 4 100 BTC orders made on the website, it's the 64 100 BTC orders that would be made if I were taking them.  I don't have coins to fill them.

It's no longer a matter of just offloading the shipping burden, it's also rationing the limited supply now that demand has spiked.

31.7 for roll one.

On my phone and im not sure if this a valid bid.

It's valid with respect to timing and form, but I didn't evaluate whether it was high enough to outbid an existing bid.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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