[AUCTION CANCELLED] 2013 Titan One Goldline coins

[lchristine]

DO NOT BID. THIS AUCTION HAS BEEN CANCELLED AS OF 9/9/2017 11:50PM EST PER AGREEMENT OF PARTIES INVOLVED IN THE AUCTION THUS FAR. ITEMS WILL BE AUCTIONED INDIVIDUALLY WITH DIFFERENT POSTS.


Up for auction are Five (5) 2013 Titan One coins (https://www.titanbtc.com/product/titan-one/) from TitanBtc.com
Comes loaded with 1BTC and 1 BCC/BCH. These were brand new coins in mint conditions. They were never redeemed, they were never taken out of the sealed glass enclosures and thus the security seal on the back of the coins were never touched. They came with paper certificates (see pictures) with low consecutive coin numbers (great for collectors). The two small black gift boxes in the picture are included for free.

https://imgur.com/a/2VfNS
 
NOTE: Despite the gold looking color these goldline coins were NOT made out of gold so there is very little material value if any.

These are two-factor coins so their ownership can be safely transferred without redeeming. See:
https://www.titanbtc.com/buying-and-selling-titans/

Once purchased, you'll be able to change the registration info (email address + password) before these coins are shipped so it is much safer than shipping coins embedded with private keys.

The balance of these coins can be verified with they coinIDs at:

https://www.titanbtc.com/verify/mnDUBW8b/
https://blockchain.info/address/12HG4YkQofvpGe2c5k7XRy1hQ5sHQEZ89E

https://www.titanbtc.com/verify/cN5jzkub/
https://blockchain.info/address/1P4crQC96N5q3u15vc6UqP4XgdQjqJ5iFm

https://www.titanbtc.com/verify/eKCrzHWt/
https://blockchain.info/address/15KGgy1eTBGxnUA6TZNjaSbULCSnz5Fgcy

https://www.titanbtc.com/verify/wpraf9eb/
https://blockchain.info/address/1EecopXPJC4SViG3LNagNy8oktvdgnUXAg

https://www.titanbtc.com/verify/TpTAYbDf/
https://blockchain.info/address/163Voy1nFHKAg2pCBSX478LbrD79LKPYwv


BITCOIN CASH VERIFY
https://bitinfocharts.com/bitcoin%20cash/address/12HG4YkQofvpGe2c5k7XRy1hQ5sHQEZ89E
https://bitinfocharts.com/bitcoin%20cash/address/1P4crQC96N5q3u15vc6UqP4XgdQjqJ5iFm
https://bitinfocharts.com/bitcoin%20cash/address/15KGgy1eTBGxnUA6TZNjaSbULCSnz5Fgcy
https://bitinfocharts.com/bitcoin%20cash/address/1EecopXPJC4SViG3LNagNy8oktvdgnUXAg
https://bitinfocharts.com/bitcoin%20cash/address/163Voy1nFHKAg2pCBSX478LbrD79LKPYwv


IMPORTANT NOTE: Although these coins do carry Bitcoin Cash value given they were loaded in 2013 before the 8/1/2017 fork, TitanBtc.com currently does NOT support redeeming BCC/BCH on their website or at least I couldn't figure out a safe way of making that work. This is also the reason that I'm selling them because I can't wait any longer need the money now. You must further understand that if you redeem these coins without also redeeming the BCC/BCH at the same time, you risk losing your ability to redeem BCC/BCH value in the future unless Titan provides a way to recover the BCC/BCH value in the future. However, the BCC/BCH value of these coins should be rightly yours and the private keys associated with these coins should absolutely be attainable given they're required in order for Titan to transfer the redeemed bitcoins to your designated address. Having said that it will be entirely up to you and Titan to work out a way for redeeming the BCC/BCH out of these coins.

I paid more than 1BTC per coin when I bought them but I'm now willing to sell them for just the combined BTC+BCC value (~1.15BTC/coin as of 9/8) simply because I can't afford to continue to wait and don't want to render these coins' BCC/BCH value into worthless by only redeeming bitcoins out of them now.


STARTING BID: 5.5BTC (for all five (5) coins in the picture plus two small gift boxes)
MINIMUM BID INCREMENT: 0.01BTC
END TIME: Sept. 18th, 2017, 15:59:59 PDT COUNTDOWN TIMER (https://www.timeanddate.com/countdown/generic?iso=20170918T155959&p0=869&font=cursive)
SNIPE: Any bid made in last 10 minutes will extend the auction 10 minutes beyond end time until no new bids are made.
PAYMENT: Either in bitcoins or the equal value amount in USD priced at the end of the auction. (DO NOT WIRE PAYMENT UNTIL INSTRUCTED)
SHIPPING: based on location and shipping preference (you pay for shipping, insurance and escrow fee if used)

[Blazed]

I am surprised Tim has not worked out a way to redeem those BCH coins... This is why I never bought 2FA coins since you do not hold the whole key you are at the mercy of a third party.

[comit]

Might be interested in 1 coin too, I think you'll get a better result if you split up the auction.

[lchristine]

Would you be willing to split up the coins?
I might bid on one if this was the case.....

Any response from Tim @ Titan about transferring ownership?

Yes. I was thinking they may be better valued as one collection. If there is no bid in a few days I will auction one at a time.

Tim has not responded me yet. However transferring ownership can be done on their website. It's the BCC/BCH redemption part that needs them to intervene I believe.

[digicoinuser]

I commend the thoroughness of the OP.  Very nice work going over all the details associated with these 2FA coins and how the BTC/BCC issue is affected by them.  I honestly wasn't aware of it prior and you've done a nice job summarizing the issue.  

Best of luck with the sale and I hope you find the right buyers. 

[lchristine]

I am surprised Tim has not worked out a way to redeem those BCH coins... This is why I never bought 2FA coins since you do not hold the whole key you are at the mercy of a third party.

I must admit I was disappointed by the lack of action and attention from Titan on this issue. Although they aren't the only one lagged on the BCC/BCH issue (I heard Coinbase was ignoring it too until there was public uproar about it), I have always had very positive experience with TitanBtc in the past so I had expected them handling the 2FA BCC issue more promptly. Unfortunately that has not been the case.

[RealHummer]

Can someone tell me how you know if they are 2FA, I know the seller said they are but in general. I myself am looking for a 2013 gold but I thought 2FA is a bad thing.

[lchristine]

Can someone tell me how you know if they are 2FA, I know the seller said they are but in general. I myself am looking for a 2013 gold but I thought 2FA is a bad thing.

Without touching the coins you can use the Verify feature on Titan's website. On the balance page it will tell you if it's a private key coin or not. If you redeem the coin of course the code inside the secure seal of a 2FA coin will be a short decryption key instead of the actual private key itself. Hope this clarifies.

I think an easy way for Titan to remove people's concern regarindg 2FA coins is to convert them to private key coins, simply by publishing or emailing coin owners the corresponding encrypted private keys of their 2FA coins. Assuming the private keys were protected by standard symmetric encryption such as AES256 coin owners should be able to decrypt the private key themselves using the code inside the secure seal. I hope Tim reads this post and gives it a consideration.

[RealHummer]

Can someone tell me how you know if they are 2FA, I know the seller said they are but in general. I myself am looking for a 2013 gold but I thought 2FA is a bad thing.

Without touching the coins you can use the Verify feature on Titan's website. On the balance page it will tell you if it's a private key coin or not. If you redeem the coin of course the code inside the secure seal of a 2FA coin will be a short decryption key instead of the actual private key itself. Hope this clarifies.

I think an easy way for Titan to remove people's concern regarindg 2FA coins is to convert them to private key coins, simply by publishing or emailing coin owners the corresponding encrypted private keys of their 2FA coins. Assuming the private keys were protected by standard symmetric encryption such as AES256 coin owners should be able to decrypt the private key themselves using the code inside the secure seal. I hope Tim reads this post and gives it a consideration.

 So there is no difference in appearance, you answered my question. You have to go to Titan's verify feature and look it up there.

Thanks

[Blazed]

I will bite... 5.5BTC

[RealHummer]

I will bite... 5.5BTC

Blazed would you be up to having the seller cancel the auction and sell per coin? I had mentioned to him a few days ago I was interested when he had 1 coin up in a post and I mentioned it again and said I would take one if he had others but this is all in the auction. The seller said he is willing to split them up if you are and thought it might be better for you if you didnt want all 5, I know someone else also mentioned taking one. I will take 2 myself actually. thoughts please if its a no I understand.

[lchristine]

OK. After seeing numerous posts and having to respond to repeated claims that "2FA coins are not under your control", I'm now feeling compelled to clarify the issue here.

Based on MY best understanding, the so called two-factors coins are actually exactly the same as the so called private-key coins in their physical shape and form as well as their material composition. The ONLY difference between the two is HOW the private key is handled. Perhaps that is the point - people having or believing they have the private key sealed on the back of the coin tend to feel that they are in total control when the facts are:

- You won't know if a private key is there until you unseal the coin.
- An average person wont' be able to tell if a private is valid or not until that person actually tries to redeem the coin, as the company could misprint and printed the wrong key.
- You won't know for sure the non-existence of another copy of the private key somewhere else.

Thus, when you purchase a private key coin you must take a FAITH in the business that you're dealing with, cause it is not possible for you to rule out the risk above in advance.

Now, if you have faith in a company for all of the above, why would you not trust them for 2FA coins? Perhaps, you worried about them losing the private keys? I tend to believe the odd of them losing the private key databases is no greater than me losing the coins. Reason? Those private key databases are encrypted so they can easily backed up and have multiple copies stored at different places (it's even safe to save them in the cloud). Given everything done properly it's still the decryption key printed inside the security seal of the coin that matters, which is in your hands.

Hope this is useful.

[Blazed]

I will bite... 5.5BTC

Blazed would you be up to having the seller cancel the auction and sell per coin? I had mentioned to him a few days ago I was interested when he had 1 coin up in a post and I mentioned it again and said I would take one if he had others but this is all in the auction. The seller said he is willing to split them up if you are and thought it might be better for you if you didnt want all 5, I know someone else also mentioned taking one. I will take 2 myself actually. thoughts please if its a no I understand.

That is fine with me. I will retract the bid if everyone prefers?

OK. After seeing numerous posts and having to respond to repeated claims that "2FA coins are not under your control", I'm now feeling compelled to clarify the issue here.

Based on MY best understanding, the so called two-factors coins are actually exactly the same as the so called private-key coins in their physical shape and form as well as their material composition. The ONLY difference between the two is HOW the private key is handled. Perhaps that is the point - people having or believing they have the private key sealed on the back of the coin tend to feel that they are in total control when the facts are:

- You won't know if a private key is there until you unseal the coin.
- An average person wont' be able to tell if a private is valid or not until that person actually tries to redeem the coin, as the company could misprint and printed the wrong key.
- You won't know for sure the non-existence of another copy of the private key somewhere else.

Thus, when you purchase a private key coin you must take a FAITH in the business that you're dealing with, cause it is not possible for you to rule out the risk above in advance.

Now, if you have faith in a company for all of the above, why would you not trust them for 2FA coins? Perhaps, you worried about them losing the private keys? I tend to believe the odd of them losing the private key databases is no greater than me losing the coins. Reason? Those private key databases are encrypted so they can easily backed up and have multiple copies stored at different places (it's even safe to save them in the cloud). Given everything done properly it's still the decryption key printed inside the security seal of the coin that matters, which is in your hands.

Hope this is useful.

What if Tim gets hit by a bus and he is the only one with access to the 2FA stuff? With a private key version I can redeem without having to rely on a third party service. I do trust Titan, but who knows where they will be in say 20 years?

[lchristine]

I will bite... 5.5BTC

That is fine with me. I will retract the bid if everyone prefers?

I think you're still the only bidder. I agreed that if you withdraw your bid I will cancel this auction and relist with one coin at a time.

What if Tim gets hit by a bus and he is the only one with access to the 2FA stuff? With a private key version I can redeem without having to rely on a third party service. I do trust Titan, but who knows where they will be in say 20 years?

In that case 2FA owners will have to go to court to request a copy of their encrypted database record. I don't disagree with you over the advantage of the private key coins under such circumstances. That's why I think Titan should consider adding a feature allowing coin owners to retrieve their own coin records given there is very minimum risk in doing so once the customer is already in possession of their physical coins.