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Author Topic: Titan Bitcoins - Physical Bitcoins with 2-factor authentication  (Read 12597 times)
TitanBTC
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October 15, 2013, 02:57:31 PM
Last edit: January 01, 2014, 06:27:29 PM by TitanBTC
 #1

The image below is the first of 6 coin denominations my company will be releasing this year, designed with "ease of use" as paramount.  For security, we used a closed system that tracks coin ownership, with 2-factor authentication built in.  For those that don't want that service, the private key can be included underneath the hologram as an option.


Titan One physical bitcoin, Front


Titan One physical bitcoin, Reverse


Current price is $269 or 1.39 BTC. as of October 22 @ 20:30 GMT

Shipping is included.  

http://www.titanbtc.com/product/titan-one/

This is a new system, and a little different than what Casascius has done, so please ask anything you like here.

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TitanBTC
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October 15, 2013, 04:08:19 PM
 #2

To answer the question publicly, yes it fine to PM me for sales instead of going through the website.

You can pay with 1.45BTC per coin to the address below:

1PEsVxSS27aLgM25wwWwhTTfWZT9EjR7ca

Escrow is fine for larger transactions.  Just PM me or email sales@titanbtc.com.

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October 15, 2013, 04:12:12 PM
 #3

Interested in a couple for the museum. PM me if you're interested in sending a couple of unloaded ones

Tip Me if you Hate Justin Bieber 1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
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October 15, 2013, 04:34:33 PM
 #4

How does the authentication work?  Beautiful coin!
TitanBTC
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October 15, 2013, 04:40:50 PM
 #5

How does the authentication work?  Beautiful coin!

Each coin is registered to an email address and password.  You need access that that info to redeem the coin, so its serves as a second form of authentication.  You can change the registration info at any time if needed.  For example, if the coin changes hands privately, the new owner will want to register the coin with an email address and password that only he or she has access to.

It's protection against the hacking and counterfeiting that has been done to Casascius coins.  

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October 15, 2013, 04:52:36 PM
 #6

I've seen this on eBay a couple of times, a very nice looking coin  Grin














 

 

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Mooshire
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October 15, 2013, 05:58:20 PM
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Wow, looks great, although the price is a bit steep for a hunk of metal.

TitanBTC
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October 15, 2013, 06:18:21 PM
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Wow, looks great, although the price is a bit steep for a hunk of metal.

I think these are cheaper than Casascius coins, for the moment at least.  The price probably will go up tomorrow, unfortunately, as we buy the bitcoins to load onto these coins at current market prices.  BTC is going up.

For people just getting started with Bitcoin, the ease of just buying one of these versus having to learn about the technology and install a wallet is worth the price premium.  Its a quick way to bring them into the community.

Oddly, I've actually heard from a few people that think we should be charging more.  Go figure.

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October 15, 2013, 10:28:08 PM
 #9

They look pretty sweet.
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October 15, 2013, 10:34:15 PM
 #10

These are not decentralized? We must use your website to get the btc out?




Explained here:


For security, we used a closed system that tracks coin ownership, with 2-factor authentication built in.  For people that don't want that extra protection, we'll be offering to include the private key on the coin shortly.
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October 15, 2013, 10:41:12 PM
 #11

The design of the coin is sweet, but if the material could be gold (maybe 5 or 10 version), this would be better seller imo
TitanBTC
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October 15, 2013, 10:58:36 PM
 #12

The design of the coin is sweet, but if the material could be gold (maybe 5 or 10 version), this would be better seller imo

Thanks!  Silver and Gold are coming shortly.  We have 6 different denominations that we'll be releasing and the higher denominations (5 and 10) will be offered in Silver and Gold.

 

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October 15, 2013, 11:08:17 PM
 #13

These are not decentralized? We must use your website to get the btc out?



Chaang Noi, we created a closed system to address the security concerns with buying other physical bitcoins like Casascius coins from private parties.  Because it's relatively easy to both hack and counterfeit, there's no good way to know if the private key has been compromised on standard Casascius coins.  Our solution for now is to offer Coin registration.  The coin can't be redeemed without access to the email address that is currently tied to the coin.  When a coin is sold, the new owner can change the email address to one they have exclusive access to, and the coin's value is protected.

This is a service for those that want it or who don't necessarily know enough about bitcoins to understand how to keep their wallet truly secure.  I fight for decentralization myself, and we'll be offering coins with the private key included shortly.  We're also working on other solutions to the two-factor authentication issue and I'd love to have input from valued members of the community like yourself.

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October 16, 2013, 02:30:49 AM
 #14

These are not decentralized? We must use your website to get the btc out?



Chaang Noi, we created a closed system to address the security concerns with buying other physical bitcoins like Casascius coins from private parties.  Because it's relatively easy to both hack and counterfeit, there's no good way to know if the private key has been compromised on standard Casascius coins.  Our solution for now is to offer Coin registration.  The coin can't be redeemed without access to the email address that is currently tied to the coin.  When a coin is sold, the new owner can change the email address to one they have exclusive access to, and the coin's value is protected.

This is a service for those that want it or who don't necessarily know enough about bitcoins to understand how to keep their wallet truly secure.  I fight for decentralization myself, and we'll be offering coins with the private key included shortly.  We're also working on other solutions to the two-factor authentication issue and I'd love to have input from valued members of the community like yourself.

Thanks for the reply. I do agree that that there is both the hacking and counterfeit risk with Casascius coins. Do not get me wrong I have over 1,500 BTC stored on Casascius coins, have met Mike in person and think over all it is an awesome product but there is always room for improvement. You can see from my sig that I myself am working on a physical coin and have my own (now secret) solution to the Casascius "hack".

Your two-factor solution is interesting but what happens if your website goes down, gets hacked or god forbid you guys die. I have my Casasicus coins because I know in 100 years they will be as good as they are now and I bought directly from Mike. To hold a lot of your coins with this sort of 2fa I would have to be very sure in your guys back up plans.

I like your pick of cupernickle over brass. It is a really strong alloy that also looks good. Most Thai coins are made of this. This stuff is almost resistant to saltwater as well (not that it will really matter here).

Anyway I plan to buy one of each type of your coins and maybe more in the future.

Edit: As I read more about this, the coins does not hold any BTC but only a key that lets me get one in the future? Is that correct?  



@DobZombie  Grow up little boy and quit begging in all the goods threads asking for free stuff for your "collection". Asking how things work is not trolling esp when OP said

please ask anything you like here.



Both the coins that have a private key under the hologram and the ones that use our 2-factor authentication system have BTC stored at an address, waiting to be redeemed.  For coins with 2 Factor Authentication, they are redeemed through our website.

There was some confusion in the other thread.  We're NOT operating a fractional reserve as some have asked or suggested.  At any time, you can verify that your coin has its BTC backing by looking at its address on the blockchain.  Just scan the QR code on the back of the coin to view its status page.


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October 16, 2013, 05:33:57 AM
 #15

Quote
I like your pick of cupernickle over brass. It is a really strong alloy that also looks good. Most Thai coins are made of this. This stuff is almost resistant to saltwater as well (not that it will really matter here).


This is not cupronickel. Titan stated this was "Goldline" which is a proprietary brass alloy. Also, cupronickel resembles silver, not gold.

Anyway, very nice coin Titan.
TitanBTC
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October 16, 2013, 10:43:25 AM
 #16

Quote
I like your pick of cupernickle over brass. It is a really strong alloy that also looks good. Most Thai coins are made of this. This stuff is almost resistant to saltwater as well (not that it will really matter here).


This is not cupronickel. Titan stated this was "Goldline" which is a proprietary brass alloy. Also, cupronickel resembles silver, not gold.

Anyway, very nice coin Titan.

You are right, but this is from the web site

Quote
The Titan One is minted using a copper-nickel alloy, affectionately called “Goldine”

Goldline is Brass and 25 to 30% zinc?



The material is Goldine.  It has a distinctly different appearance from the brass coins that we have here, but it may be closer to brass than it is to cupronickel.  The phrase cupronickel apparently covers a range of alloys that can have varying appearances.  It's likely that Goldine has both zinc and nickel in the alloy, but I honestly hadn't looked for the specific composition breakdown until this conversation.  

The foundry that is supplying the blanks described this alloy as a "copper-nickel alloy" and it may have been designed specifically for coin production.  It was marked as a 230 alloy on some of the documentation we received.  If this is referring to the 230 alloy range for brass, then it may mean that it has a much higher copper content (85%+).  The next time I talk to the supplier, I will make sure we get this clarified.  

We chose this particular material both because of its superior appearance and its resistance to "dulling" over time.  However, the other denominations are different alloys.  

TitanBTC
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October 17, 2013, 06:19:48 PM
 #17

Update: We'll be offering coins with the private key included early next week. 

A few of you have PM'ed me about quantity discounts.  We're talking to a few resellers currently.  If you want to be reseller, we'll make a discount available for you.  The best way to move forward with that is to PM me or email me at Tim@titanbtc.com.


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October 18, 2013, 04:08:20 AM
 #18

if you send me one of these i will make a video to determine if my cat prefers these over cass coins

hi
TitanBTC
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October 18, 2013, 03:27:52 PM
 #19

if you send me one of these i will make a video to determine if my cat prefers these over cass coins

Does the cat have good taste?  You're going to have be OK with a coin that smells strongly of tuna if this is how it's going to be.

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October 18, 2013, 04:18:26 PM
 #20

if you send me one of these i will make a video to determine if my cat prefers these over cass coins

Does the cat have good taste?  You're going to have be OK with a coin that smells strongly of tuna if this is how it's going to be.

yes he is an excellent cat. Smelling strongly of tuna is fine, however the other coin might also smell of tuna from last years unrelated tuna salad incident

hi
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