[Crowdfund] Destroy my Series 1 Coin and make the rest of yours more valuable.

[investr]

I'd like to try a little experiment.

I own a Series 1 Casascius coin, the kind that has a misprint on it. There were less than a thousand of these made, so they are very rare. You can view my precious here: http://imgur.com/gRBTiZw

The concept of this experiment is simple -- pay me to destroy this coin and thus make the rest of yours more valuable. I will post a video of the process; I'm thinking I'll start by burning the holographic sticker and finish by melting down the brass into a pool of golden oblivion on my stove. I'm open to suggestion on how to destroy it, feel free to recommend something more creative (I do have one of those latex horse masks now that I think about it).

Instead of a typical auction, this will be done as a crowdfunded project! I'd like John K to manage the process as escrow. If he is willing, instead of the typical 2% fee I would like him to take 1% and have the other 1% donated to the bitcoin forums. So I have some skin in the donation game as well, I will donate another 1% to the Bitcoin Foundation or whatever you guys vote for the most. If John K doesn't work out but there is still interest in this experiment, I will figure out another way.

This crowdfunding experiment is to end Sunday, May 5 at midnight GMT. The goal is 10 BTC, with anything less being refunded back to participants. Escrow and donation fees will be deducted from the final result. Remember, this destroys the coin forever!

[paraipan]

Can we send directly to the coin public address?

[investr]

Can we send directly to the coin public address?

Ahaha, that's a clever idea. However that would make any refunds from a failed project goal difficult, wouldn't it?

After reading my statement a second time, I've decided to up the donation percentages to 5% and 5%. So, John K can take whatever escrow fee he wants (0, 1, or 2%), and I will donate 5% to the bitcoin forums and another 5% to whatever is voted on. In other words, 10% of proceeds will be donated to worthy causes.

[paraipan]

Can we send directly to the coin public address?

Ahaha, that's a clever idea. However that would make any refunds from a failed project goal difficult, wouldn't it?

After reading my statement a second time, I've decided to up the donation percentages to 5% and 5%. So, John K can take whatever escrow fee he wants (0, 1, or 2%), and I will donate 5% to the bitcoin forums and another 5% to whatever is voted on. In other words, 10% of proceeds will be donated to worthy causes.

Hmm interesting, I offer you 1 bitcoin for the coin and another for having the chance to destroy the coin myself, or not...

[investr]

If this experiment fails, then you will probably have the chance to bid on the coin via regular auction.

[paraipan]

If this experiment fails, then you will probably have the chance to bid on the coin via regular auction.

Got it, good luck with your experiment 

[Binford 6100]

it's been done before, here's the video from the destruction
http://www.youtube.com/watch?v=bA4eetGvQXE

[Gomeler]

Redeem the coin, ship the coin to me, and I'll shoot the brass with a .338LM round. I won't even charge for the ammo or the resulting youtube clip.

[John (John K.)]

For regular (fast) escrows and the amount is <50BTC, I usually just require a tip, not a fixed %. 
BFL and Avalon preorders on the other hand will take a couple months at worse to complete, so I am charging a fixed % to cover the time and extended risk. Good luck with  your experiment.!

[Nightowlace]

I will give you 3 BTC for the coin. (Fully intact, unredeemed) 

[Binford 6100]

Redeem the coin, ship the coin to me, and I'll shoot the brass with a .338LM round. I won't even charge for the ammo or the resulting youtube clip.

I can send you a redeemed 1 btc coin from 2011

[DobZombie]

I can send you a redeemed 1 btc coin from 2011

got a picture?