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Author Topic: CryptoVest Physical Litecoins  (Read 15513 times)
CoinHoarder
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September 17, 2013, 03:13:34 PM
 #21

Wow.. that was one heck of a football game, glad I got to go. Anyways... I have again delayed the launch of the website. I want more time to work on the website and make it look pretty and informative! Also, I am expecting the Econo Line coins and holograms to possibly be delivered later this week!!! When I actually launch the website, the Econo Line coins and chocolate coins will be available for sale.

Although I will likely receive the Econo Line coins & holograms this week, I expect them to not go on sale until at least sometime next week. There will be a few things I need to do once the coins are received, including getting an assembly process worked out and testing several ideas I have to make them more tamper resistant. I want these to be some of the most secure and tamper resistant coins on the market, so I am not going to rush to make the coins available.

Thanks,

Ch

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November 06, 2013, 12:24:20 AM
 #22

Sorry I haven't posted in a while... I have been pretty busy and going through some personal issues, so I haven't had much time to work on this. Let me bring you guys up to speed and tell you the full story thus far in one post. As always, I am brutally honest on these forums and I will continue that trend in this post. Sorry for the wall of text... I am good at making those!

My inspiration for the project: I do not own any physical cryptocoins and never have, although I always thought they were a really neat idea (good job Casascius!) However, I have come to the conclusion that they are all extremely overpriced. I think they are charging a large mark up. Shocked Either that, or their manufacturers are really ripping them off and they did not shop around... I think this is unlikely. So, I aim to bring much cheaper physical cryptocoins to market that will satisfy the need for cheaper coins. Physical cryptocoins are a great way to spread the word about cryptocoins. My hope is that by making them cheaper, people will be more willing to give them to friends and family and introduce new people to cryptocoins!

Current status of the project: I have received the coins and holograms and I am working on finishing the website to facilitate orders. As soon as the website is done, you will be able to place orders for immediate shipping. I expect this to be done either this week or next week. Please bear with me, I do not have money for a web developer so I am doing it myself in what little free time I have available and it may take longer than stated here.

Design changes: I have decided NOT to sell pre-loaded (funded) coins unlike most other physical cryptocoin companies. I simply do not have the time and also do not want the legal liability. It has recently been shown that physical cryptocoin are not as tamper evident as we all thought (Google Defcon Casascius.) It seems pointless to me sell funded coins because there is no way to tell if someone has tampered with the hologram (or very little evidence.) Along with this, I feel I simply do not have the time to assemble hundreds of coins. I am pretty busy and have several things going on at once. Therefore, all coins will come unfunded and with two holograms, so the customer will assemble them themselves. Each coin comes with two holograms, because it can be easy to disrupt the tamper evident properties of the hologram when placing it on the coin. Transfer tape is a necessity to remove the hologram from its wax paper and putting it onto the coin without disrupting the tamper evident properties. Again, using your finger, finger nail, or anything other than transfer tape to place the hologram will make the tamper evident properties noticeable after hologram placement. I had a friend (shout out to msm595) port the Casascius Bitcoin Utility to Litecoin (thanks again Casascius!) This is what customers are recommended to use to print coin inserts. It is a very straightforward process, and will be explained in detail on our website. The program will be open sourced, so the code can be reviewed by the community to make sure that there are no security issues or back doors in the program.

Bad news: The quality of the holograms is not what I was expecting. At certain angles, they look brilliant. However, at certain angles you can hardly see the hologram design. However, the quality is not what people are used to seeing from other physical cryptocoins. Another reason why my first coins are not as nice to currently available physical cryptocoins is that I did not have enough money to make coins out of more quality materials and by more quality manufacturing techniques. If these coins sell well, I promise to spend more money in the future when making my products and searching for the best quality possible. I am confident in my ability to make higher quality coins for MUCH cheaper than the competitors. Unfortunately, if these cheaper coins do not sell well, I will have already wasted more money than I am comfortable with, and will not be making higher quality coins. I hate to leave it open ended like that, but it is what it is. I am not rich and cannot afford to blow thousands of dollars.

Good news: People have been asking me forever... "What is the price?" Well, today I can finally answer that, since I now have the final numbers of the manufacturing costs. As stated before the point of this project was to make an affordable physical cryptocoin. I have done just that, my coins will retail for $1.49 USD!!! This includes a coin and two holograms. Coins will be assembled by the customer, so no need to trust me.

Pictures: And finally, I apologize for the low res camera photos. But, they serve their purpose to illustrate everything I have talked about in this post and to see what the coins and holograms look like from multiple angles. Again... the holograms look great from some angles, but not so great from other angles. I'll let you be the judge, please tell me your honest opinion. (Please excuse the mess up on the last two images.. I accidentally enabled both cameras and part of my face/hair is in the last two pictures... just noticed that when typing this. Oh well.... http://imgur.com/a/MGjCX

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November 06, 2013, 01:50:14 AM
 #23

Is picture 4 an example of the wrong angle as they look like the chocolates that should be inside of the coinz ??

I reckon u should talk to whoever did those holos as that does not look right

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November 06, 2013, 02:00:27 AM
 #24

Is picture 4 an example of the wrong angle as they look like the chocolates that should be inside of the coinz ??

I reckon u should talk to whoever did those holos as that does not look right


You can tell by the writing on the paper that picture is extremely unfocused, which causes them to look even worse. If you look at it at the wrong angle, they do look similar to that.. IE. not much if any color, hard to see the design. If you read my post above, I say I am not happy with the quality. However, it is what it is... it is a "you get what you paid for" type of thing. If people really really really really don't like the holograms, perhaps I will order new ones from a better manufacturer. However, I have spent enough on this project for now and I need to recoup some of my losses or I am not doing anything further than what what I've already done.

I will be making a more quality version if I can at least make my money back on these. I did this for the good of the community of Litecoin and to provide cheap physical Litecoins, but I am not going to continue doing it if I am in the red. I am not that rich to blow thousands of dollars like that.

Also, I don't think it's fair though to compare a $1.49 physical cryptocoin to a $100 physical cryptocoin. I know a lot of you are going to say this doesn't look as good as Casascius' coin or Lelanas. However, they are also are also about $90+ more expensive.

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November 06, 2013, 08:42:25 PM
 #25

Wow you're back after so long!!  Grin wb  Smiley I'm still interested in at least 2 or 3 of your coins Grin














 

 

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CoinHoarder
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November 06, 2013, 11:09:50 PM
 #26

Wow you're back after so long!!  Grin wb  Smiley I'm still interested in at least 2 or 3 of your coins Grin

Hi, thanks miffman.

Yes, I have been pretty much absent from the forums minus the past week. I have been having some medical problems, I actually just got back from the doctor and am having some blood work done. Hopefully I can figure out what's going on and get back to feeling better soon.

I'm glad someone's interested. Smiley

I apologize for taking so long getting these to market, but the finish line is closer than ever now.

Cheers,

Ch

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November 07, 2013, 01:06:39 AM
 #27

Looking good, am definitely interested in a few as well.

Question: Will you be accepting XBT or LTC for the coins?

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November 08, 2013, 05:40:40 AM
 #28

Looking good, am definitely interested in a few as well.

Question: Will you be accepting XBT or LTC for the coins?

Wow, you threw me off by saying XBT... I totally missed the news that XBT is the new official currency code for Bitcoin. I will be using coinpayments.net, so technically any coin they have integrated I could theoretically accept if you ask nice enough. Smiley

I will try to accommodate people with whichever crypto currency they prefer. Just give me some time to setup a wallet and stuff for it if it's anything other than XBT/LTC/XPM.

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November 08, 2013, 12:24:42 PM
 #29

Would you be open to accept CGB as payment?  Smiley














 

 

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CoinHoarder
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November 08, 2013, 05:29:35 PM
 #30

Would you be open to accept CGB as payment?  Smiley

Ah... Cryptogenic Bullion- trying to make cryptocoins look cool again. Grin

(I thought of that saying a while back and have been waiting for the perfect time to say it... rofl)

Anyways.... sure. I will accept anything integrated with coin payments. I didn't really realize there would be much interest in buying these with other ALTs and wasn't really planning on accepting anything other than a few cryptocoins. It seems like there is some interest in paying with other ALTs, so I will try to get it setup where I can accept just about anything. Smiley

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November 08, 2013, 05:31:03 PM
 #31

These look amazing!

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November 08, 2013, 05:41:44 PM
 #32

These look amazing!

Thanks! Zinodaur (http://art.zinodaur.com/) did a fantastic job designing these.  Grin

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November 09, 2013, 01:48:21 PM
 #33

Around when will these be for sale?














 

 

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November 11, 2013, 11:51:35 PM
 #34

Is picture 4 an example of the wrong angle as they look like the chocolates that should be inside of the coinz ??

I reckon u should talk to whoever did those holos as that does not look right


You can tell by the writing on the paper that picture is extremely unfocused, which causes them to look even worse. If you look at it at the wrong angle, they do look similar to that.. IE. not much if any color, hard to see the design. If you read my post above, I say I am not happy with the quality. However, it is what it is... it is a "you get what you paid for" type of thing. If people really really really really don't like the holograms, perhaps I will order new ones from a better manufacturer. However, I have spent enough on this project for now and I need to recoup some of my losses or I am not doing anything further than what what I've already done.

I will be making a more quality version if I can at least make my money back on these. I did this for the good of the community of Litecoin and to provide cheap physical Litecoins, but I am not going to continue doing it if I am in the red. I am not that rich to blow thousands of dollars like that.

Also, I don't think it's fair though to compare a $1.49 physical cryptocoin to a $100 physical cryptocoin. I know a lot of you are going to say this doesn't look as good as Casascius' coin or Lelanas. However, they are also are also about $90+ more expensive.

I agree you get what u pay for in life  Cool

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November 16, 2013, 03:24:40 PM
 #35

Around when will these be for sale?
This coming week via the web site. If you do not want to wait until then (actually there is no reason why you wouldn't..)

See my next post on a promotion I am doing to launch the sale of the coins.

Thanks

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November 16, 2013, 03:25:08 PM
 #36

Hi,

I am finishing our website and next week I will start taking orders for our new product. In order to promote our new physical Litecoin, I have decided to give the first 20 people to PM me a free coin!!! Unfortunately, shipping costs are not included. If you would like to add more coins to your shipment to save on shipping costs, you may purchase extra coins for $1.49 usd each. After this initial promotion, orders will only be accepted through our website and we will at the very least accept LTC/BTC for payment.

Each coin comes unloaded with two holograms. You will generate the address/private key locally on your computer using an open source program (Casascius' Bitcoin Address Utility- I paid to have it ported to Litecoin by my friend msm595). Obviously a printer is needed to print out the coin insert. Full assembly instructions will be posted on our website when it launches next week, but the process is pretty straightforward and I'm sure all of you are very capable. Sorry for the unprofessional/unfocused pictures.. these were taken from my phone. I'm working on getting some more professional images shot, but you can see an example of the product here: http://imgur.com/a/MGjCX

For more information on the project, see my latest update here: https://forum.litecoin.net/index.php/topic,1940.msg52363.html#msg52363

Shipping costs:
Case by case scenario

Ordering information:
I'll post here after the 20 free coins are gone. Only PMs on Litecoin forums will be accepted for this contest- do not PM me on bitcointalk. After the promotion is over, orders must be made through our website for the sake of automation.

Please PM me if you are interested, include the following in your PM:
1. Name
2. Shipping address as it would appear on a shipping label
3. If you would like any extra coins

I will PM you back with a LTC payment address and the total amount for your order.

Cheers,

Ch

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November 18, 2013, 08:15:31 PM
 #37

13 free coins left.

I want to make it clear, these are unloaded/unassembled coins. For the truly paranoid (you do not have to trust the issuer because you generate your own private keys) or just for the bargain shoppers. Smiley

I will probably sell some loaded coins at some point because that seems to be the version most people are interested in. I personally do not think there's much of a point in factory loaded coins other than for the sake of convenience. At the end of the day, you need to trust the person who you buy the coins from- especially when buying them used from 3rd parties. Although the holograms I use are technically "tamper evident", nothing is "tamper proof". There is no way to tell if the coin has been tampered with, as physical cryptocoins have been compromised (read: http://codinginmysleep.com/casascius-physical-bitcoins-cracked-at-defcon/). When I do end up making factory loaded coins, please make sure to use caution when buying them used. Only buy them used from extremely reputable community members and use common sense. Request high resolution images if buying them online to look for tampering, and if possible meet up in person so you can physically inspect them. It will take me a little more time to get these ready though, there are a couple things I need to do before they would be ready to sell.

I decided to do shipping on a case by case scenario to help save you a little bit on shipping. I realize the flat rate international rate was a little high, so I am trying to accommodate.

I will be including a surprise in each shipment. Wink

Cheers,

Ch

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November 20, 2013, 01:30:56 AM
 #38

Bump- 12 free coins left, please PM me shipping info and I will calculate shipping for you. If you only want the free coin, shipping has been about $3-$4 usd within the USA.

I am finishing up with the website. I'm almost done with the written content and am meeting up with my sister who is a semi-professional photographer to get some good images of assembled coins and for artwork on the website. I am still expecting to have the website up and running & taking orders by the end of this week.

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November 23, 2013, 03:39:34 AM
 #39

Hi all,

The free coins have all been claimed now. Thank you for your interest and support. I am interested in your opinions of the product, please post it on my main thread here: https://forum.litecoin.net/index.php/topic,1940.0.html

I was going to include some chocolate Litecoins in the package.. but chocolate goes bad in 2-3 months and I've had them for a while, so they aren't very good anymore. They are a lot harder than they used to be and taste a little funny. I will have to order some more. I have an idea about putting a link to Litecoin.org under the hologram and making them really cheap so you could hand them out to strangers on the street or something to spread the word. Smiley

I worked really hard on the website last night, am working on it tonight, and I will finish it this weekend. I will then be only accepting orders through the web site. The price is going up to $1.98 so I can pay for an employee and for extra packaging costs I didn't think about. So, those that ordered extra coins during the promotion got a pretty good deal. I am working on the logistics of the loaded coins... I am adding extra security features which need to be fully tested. Also I need to get a bullet proof, safe, system in order to generate/load the coins as safely as possible. I don't expect them to be ready for a month or two. For now only unloaded coins will be for sale.

Thanks again guys, I hope you realize I'm not making hardly any money on these at all. After selling all 4000 coins I will have made about $2000 compare that to Smoothies/Casascius' profit and it's like night and day, they are pretty much robbing you guys blind (hopefully smoothie doesn't start a flame war, but it is the truth.) I only make about $0.50 usd a coin. Who knows how long it will take me to sell that many... I am doing it to spread the word about Litecoin. I want you to give these as gifts and introduce people to Litecoin. Physical cryptocoins should be used to promote Litecoin, not only for personal collections. I hope these are cheap enough where you can do just that. Give them for bithdays, holidays, etc.. lets get Litecoin going viral.

Thank you,

Ch

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November 23, 2013, 03:56:20 PM
 #40

What do you guys think of my idea for the chocolate coins? http://imgur.com/a/LOV2K

Excuse the crap phone pics, but I decided most people will not give out chocolate coins loaded with Litecoin value to friends/family/colleagues. Simply put, IMO most people are too self centered or greedy to do such a thing. I'm not sure which one it is. So, I decided to just add a link to Litecoin.org on them.

My only concern is these are the same holograms I will be using for the loaded coins and that could pose a security issue. Perhaps I should have special holograms made for this purpose? I think with the added security features I'm adding on the loaded coins that it will not matter, but I would hate to compromise the security of the project over something so silly. Well.. I don't think it's silly to promote Litecoin of course not, but maybe what I mean to say is that I would hate to compromise the security of the project over something so avoidable.

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