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Author Topic: [ANN] Physical Litecoins by the Litecoin Foundation  (Read 8019 times)
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July 26, 2013, 02:03:18 PM
 #1

Announcing the Litecoin Foundation's physical Litecoin project.


The Litecoin Foundation was formed in 2012 to help protect and promote Litecoin. In this spirit we are going to make physical Litecoin affordable for everyone.


The Litecoin Foundation has loaned 25,000 LTC to fund the physical Litecoin project. The physical Litecoin project will be organized and managed by Chaang-Noi a.k.a Goat.

LitecoinFoundation.org
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El Cabron
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July 26, 2013, 02:04:23 PM
 #2

Hi All,

I have been a long time supporter of physical crypto and I am a strong supporter of Mike Caldwell's (Casascius) physical Bitcoins. I hold a significant amount and own at least one of every coin he has made. I think his efforts have done well for BTC and we would like to do the same for LTC. Since we are pretty much going to be copying his work, I just wanted to give credit to where it was due.

In order to promote LTC I and a few other key LTC supporters feel that an affordable physical Litecoin should be available to the community. We will be doing this project at cost, it will not be for profit. That means you will be able to get the lowest priced physical LTC that can be made.

For example we expect to be able to make the base 1 oz silver coins with the holograms for less than $35. Our goal will be $30 or less. This means the base silver coin and hologram will cost the buyer only 13 LTC or less, plus the face value of the coin.

We will be minting 1/10th, ½, and 1oz .999 fine silver rounds with different denominations. We will also be selling an especially low cost item with no metal (think credit card) for the absolute lowest cost physical LTC. This will be made in the range of 1 to 1000 LTC for the easiest and cheapest way to transport LTC physically.

We have the funding and we have our suppliers set up, all we need from the community is for you to tell us exactly what you want. We think we have a pretty good idea but if we can improve on anything Mike has done please let us know.

Also are you an artist? Want to design a coin or card? Please contact me A.S.A.P.

We are not taking preorders, you can not reserve orders at this time, and we expect to be shipping in 2 to 3 months. We will only be accepting LTC as payment. Also prices are subject to change and will match our real costs.

Thank you all for your support.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
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July 26, 2013, 02:04:36 PM
 #3

reserved.

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
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July 26, 2013, 02:11:24 PM
 #4

Sounds good I love physical coins!  I would be after both the half and full ounce rounds for sure.

Make the half Oz in - 1-10 LTC

Full Oz in 25, 50, 75, 100 LTC


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July 26, 2013, 02:14:14 PM
 #5

Sounds good, I loved the "affordable for everyone" part Grin
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July 26, 2013, 02:18:10 PM
 #6

great idea

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July 26, 2013, 02:19:04 PM
 #7

Sounds good I love physical coins!  I would be after both the half and full ounce rounds for sure.

Make the half Oz in - 1-10 LTC

Full Oz in 25, 50, 75, 100 LTC



Because of the cost of the die we will have to limit the option's of the face value of the coin. If we are able to produce in significant numbers we will be able to make more.

We do hope to have several runs with different designs but our priority is to make this affordable.

Thanks.

 

Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
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July 26, 2013, 02:32:49 PM
 #8

Cool thing! Watching now!

I hope you will annonce more soon!
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July 26, 2013, 03:05:39 PM
 #9

subscribed to this thread.   im a silver bullion coin collector already so. also i love cold storage of my litecoins.  i tend to spend them on gpu's if they stay in my wallet too long.  litecoin has some pretty cool logos already! do it up! now would be a good time to commission some silver as its cheap. takes a while to get things minted tho Sad.  oh well good luck im sure i'll sign up!
 

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July 26, 2013, 03:15:58 PM
 #10

That's a cool project

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July 26, 2013, 04:18:30 PM
 #11

Interesting project!

The 1/10th oz silver coins might be too small, its probably better to have at least 1/4th oz or 7.5g like the planned lealana/casascius coins.

Also I'd like to see a non-silver coin (made of nickel or sth silver looking?) nominated with 1 LTC but with a decent size. (Like the 1 BTC Brass coins).

                                 
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July 26, 2013, 04:59:55 PM
 #12

sounds good. hope you come up with a nice design. hope the first batch also comes with a "misprint" of the hologram  Wink
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July 26, 2013, 06:20:04 PM
 #13

watching

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July 26, 2013, 07:25:21 PM
 #14

I would be interested in a 100oz LTC silver bar

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July 26, 2013, 07:35:06 PM
 #15

LOL

to everyone who bought the third party LTC coins.

This at least has a somewhat tied connection to the coin.


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July 26, 2013, 08:32:08 PM
 #16

Interested & following.

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July 27, 2013, 01:27:42 AM
 #17

Awesome, I'm definitely going to pick some up Smiley

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July 27, 2013, 01:52:18 AM
 #18

this sounds good


as always how do you know the private key is only in the coin

and all other copy's of the private key have been destroyed.




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July 27, 2013, 02:16:21 AM
 #19

this sounds good


as always how do you know the private key is only in the coin

and all other copy's of the private key have been destroyed.





That is always a very good question when dealing with physical coins. Trust is a huge issue here. To be honest we are trying very hard to come up with a process that is safer and more securer than the traditional way that requires trust. However at this time we do not have anything set up.

We have also thought about having someone extremely trusted in the community to crate the keys and sticker for us but right now nothing has been worked out.

I am very open to other ideas.

Thank you.


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July 27, 2013, 02:58:35 AM
 #20

liked!
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