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Poll
Question: I would buy...
1 LTC Physical Litecoins (Cost: 6 LTC) - 30 (13.5%)
10 LTC Physical Litecoins (Cost: 15 LTC) - 38 (17%)
25 LTC Physical Litecoins (Cost 30 LTC) - 34 (15.2%)
50 LTC Physical Litecoins (Cost 55 LTC) - 53 (23.8%)
None- I'd like to buy a different denomination than what's listed. (please leave feedback) - 4 (1.8%)
None- I don't like the design. (please leave feedback) - 8 (3.6%)
None- I wouldn't be interested even if I liked the design. - 14 (6.3%)
None- I don't trust you. - 7 (3.1%)
None- They're too expensive - 35 (15.7%)
Total Voters: 130

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Author Topic: [POLL] What denomination of physical Litecoins would you like to buy?  (Read 7335 times)
chriswen
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April 23, 2013, 12:00:28 AM
 #21

Yeah it's a bit expensive for me.

+1 on your initiative though.

The big ones get more cost efficient but are way to expensive to sell. (if i wanted to sell physical litecoins)  And then the cheap ones are way to cost ineffective.
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April 23, 2013, 12:22:28 AM
 #22

The big ones get more cost efficient but are way to expensive to sell.

I am planning on avoiding this problem by not loading the coins until someone pays for them.

Otherwise, I would never be able to get this project off the ground because it would be way too expensive.

And sorry about the price, but there's not much I can do about it.. it's not my fault that the LTC exchange rate is what it is.

If I trimmed retail price anymore it simply wouldn't be worth my time.

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April 23, 2013, 07:27:21 AM
 #23

Exactly, each physical Litecoin will have the first 7 characters of the Litecoin address printed on top of the hologram.

You can then use these first 7 characters of the address to enter into any Litecoin block explorer to get the full Litecoin address and check to make sure the value in LTC is actually held in that address.

Hidden underneath the tamper proof hologram is the private key that can be used for redeeming the LTC that was sent to that specific Litecoin address.

So you and probably others that are involved in the printing process will be aware of the addresses
and the private keys of all of the shipped litecoins.
What exactly ensures us customers that you or someone else isn't going to steal the litecoins sometime in the future?




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April 23, 2013, 01:36:47 PM
 #24

So you and probably others that are involved in the printing process will be aware of the addresses
and the private keys of all of the shipped litecoins.
What exactly ensures us customers that you or someone else isn't going to steal the litecoins sometime in the future?

I am doing the assembly myself for security reasons, so that I am the only one that will ever see the private keys. You can be sure that as soon as they made, they will be encrypted and stored offline on two USB drives (an extra one in case the first is corrupted) and stored in a very safe place. The computer that will print the private key cards will never connect to the internet, ensuring safety from prying eyes. As soon as I make a coin, any record I have of the private key will be permanently destroyed.

You can always use a block explorer to check the balance of the address, but when it comes to the destruction and confidentiality of private keys, you will just need to trust me. I have no interest in stealing, I have a good job and an OK enough life where I don't need to steal. I will be as transparent as possible when the time comes to make them.

I am open to any suggestions on how I can do this in the most transparent way.

Thanks for your interest,  Smiley

Ch

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April 23, 2013, 04:39:41 PM
 #25

Moar votes needed!

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April 23, 2013, 05:16:31 PM
 #26

Free bump!
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April 23, 2013, 05:24:28 PM
 #27

1 LTC coins out of 1oz silver and sell them for like 20 LTC. I'd probably buy some of those.

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April 23, 2013, 06:52:01 PM
 #28

Free bump!

Thanks Smiley

Its hard to get opinions with this sub forum so cluttered.

1 LTC coins out of 1oz silver and sell them for like 20 LTC. I'd probably buy some of those.

I am planning on doing this in the future. Minting costs are too high to do silver coins in the first batch.

Also, whether silver coins become available in the future hinges on the success of this first batch.

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April 23, 2013, 10:57:38 PM
 #29

Glad you continued this project.
I voted for 50. +10% is a reasonable amount for a physical coin.

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April 23, 2013, 11:11:41 PM
 #30

Glad you continued this project.
I voted for 50. +10% is a reasonable amount for a physical coin.

Thanks Skull!

Sorry to not bring you aboard as a developer, more than a few people contacted me and honestly I wasn't sure who I should choose, who would do the best job, and didn't want to hurt anyone's feelings. Thanks for supporting me anyways!  Grin

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April 24, 2013, 04:53:18 AM
 #31

I wanted to thank everyone for voting and for your feedback in this thread and my other thread. It seems that there is enough interest to enter production. I have selected the quotes from the companies I chose to make the coins and holograms, I am just negotiating the details with them.

I will start an official thread for the project soon with an organized OP explaining more about the manufacturing process. I will try to be very transparent in the whole process, you guys must trust that I have the best interest for Litecoin at heart and would never intentionally scam anyone. Private keys will be destroyed more than effectively three times over, you can be sure of this.

ETA of Physical Litecoins: ~1 month to 1.5 months  Shocked

I'm excited, I hope you guys are too. I am happy to be involved in a project that will hopefully be mutually beneficial to all Litecoiners.  Grin

Cheers,

Ch

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April 24, 2013, 04:59:06 AM
 #32



ETA of Physical Litecoins: ~1 month to 1.5 months  Shocked

Sweet...
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April 24, 2013, 05:01:49 AM
 #33

ETA of Physical Litecoins: ~1 month to 1.5 months  Shocked
Sweet...

I probably shouldn't of said that. That's me not learning from BFL's mistakes. 4-6 weeks guys!  Cheesy Grin Wink

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May 12, 2013, 04:27:07 AM
 #34

physical cryptocurrencies. "Its like fiat except you pay 40% just to hold it in your hand"
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May 12, 2013, 06:50:13 AM
 #35

physical cryptocurrencies. "Its like fiat except you pay 40% just to hold it in your hand"

With the way Litecoin prices are rising, I expect the cost of each coin to be less than 40% of its value, especially on the 50 LTC denomination. Prices will be tied to the US dollar, they will change with the market. As Litecoin gains value, you will be able to buy them for less and less Litecoins.

The prices in the picture I posted were calculated when LTC was about $2.55 I think. Already today they would be cheaper than what I originally stated, it will be fluid though and change with the market price. I cannot control the market price of LTC/usd and what is costs to design, make, assemble, and sell them (since I have to pay for most of this proccess with FIAT.)

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May 15, 2013, 07:46:31 PM
 #36

This still in the works?

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May 15, 2013, 08:09:41 PM
 #37

1 LTC coins out of 1oz silver and sell them for like 20 LTC. I'd probably buy some of those.

I like that idea but not for 1ltc at least for 10ltc/coin
with current spot price of silver of 22.5$/oz let's say you got them at 24$ and 3$/ltc = 8ltc for silver + 10 ltc + 3-5ltc

I would be ready to pay between 21-26ltc for a 10ltc-1ozSilver coin with current market condition for silver and ltc

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May 17, 2013, 07:31:57 AM
 #38

Any update on when these will be available?
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May 17, 2013, 07:33:03 PM
 #39

Hi guys,

I decided to hold off on production to get a better design to make these more unique and special. I have had about 4 graphic designers from the forums make a design. Not everyone has turned in their completed designs, so I am holding off of any announcement until then.

Everything is lined up with the hologram manufacturer and the coin minting company once I have a final design. I have gone through the necessary steps for pre-production including background checks, etc., for the hologram manufacturer. Both manufacturing companies are simply waiting on word from me to give them a final design. I expect to enter production next week.

If any of you are at the Bitcoin conference, PM me and I'll give you my phone number. We can meetup and I'll let you be one of the first to see the designs.  Smiley

Cheers,

Ch

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May 17, 2013, 07:35:44 PM
 #40

Where is the "None, because this idea is fucking stupid" option?

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