Loan Me 60 BTC, Get All My Personal Info and a 100% Solid Plan (Read!)

[johnniewalker]

I have a fool-proof plan to invest your 60 bitcoins and give you a decent return, no work (only time) required. Here it is:

The plan:
1. Buy a roll of 50 1BTC Casascius Coins for 60 BTC
2. Sell them for the lowest price they have been offered at (1.51BTC for US buyers, 1.5BTC for International Buyers). Why less for international buyers? I will need fiat payment from them via PayPal to pay for shipping. I think they will be more than willing to pay if it mean saving their bitcoins.
3. Why this will work: Casascius has a variety of coins out. Everyone is going for the ones with the novelty factor (the silver, the 0.1, 0.5, etc). They are extremely overpriced. Since everybody is trying to get their hands on those, no one is offering classic 1BTC coins (I looked forever, nothing unless I wanted to pay over 2BTC). I believe there will always be a demand for the classic Casascius coins. Worst case scenario: I will definitely be able to sell at least the number of coins needed to break even as far as bitcoins go. The rest could be sold for fiat (on eBay or elsewhere). Or, the rest could be redeemed and the physical coins sold for bitcoins or fiat (I sell redeemed coins on eBay all the time…a '13 coin easily goes for $40+…and that's each!-message me for proof)
4. If you wanted to go the fiat route, I work at a coin store (most patrons have at least HEARD of bitcoins). I think they would get a kick out of a physical bitcoin and they would sell relatively easily. Management is cool, they'd get a kick out of it too.
4. What do I get out of it?: I just want 1 Casascius Bitcoin and the opportunity to turn some fiat into BTC via shipping charges.
5. What do you get out of it?: So, 49 would be sold. Say at a price of 1.5/ea. That would gross you 73.5 BTC, and all you would have to do is provide the initial capital (I would do all the work).
6. Most importantly, this plan will at the very least not fail. I think that is clear enough to see.

Hope to hear from you!

[rufusBTC]

winning!

[Lohoris]

I work at a coin store

Please provide details.

[johnniewalker]

I work at a coin store

Please provide details.

I work at a bullion, jewelry, pawn (only high-end jewelry) and numismatic coin store. I'm the coin buyer. A couple of these in the case would definitely spark conversation.

*EDIT: and to clarify, I'm willing to share with the lender my identity (Drivers License, Passport, Signed Contract, Picture with contract, tell you the name and location of where I work...etc.) I'm not running away with anyone's money here.

[cyclops]

Try splitting the loan (multiple lenders), so no one has to risk nearly 10k $

[johnniewalker]

Try splitting the loan (multiple lenders), so no one has to risk nearly 10k $

Good call. I'd take up to 6 investors (10BTC each). The logistics of too many more would be too much, I think.

[Jabbatheslutt]

This seems to simple... Why isn't everyone doing it?

[LiteCoinGuy]

This seems to simple... Why isn't everyone doing it?

because most are clever and stay out 

[elitenoob]

Could give it a try...would be in with 10BTC if the rest of 50 comes in.

[altoz]

Where are you getting the 50 coins from for 60 BTC?

[kcud_dab]

Where are you getting the 50 coins from for 60 BTC?

https://www.casascius.com/ ?
Roll of 50: 1 BTC Brass Physical Bitcoin (2013)
Buying Now price, if purchasing a roll outside of an auction or promotion.    ฿59.97

[MtFox]

Two simple questions:

1) Do you have any idea about how long it may take the whole thing to get through and the initial investment recouped (with profits as you would expect)?  
2) How are you planning to hedge the risk of Bitcoin price fluctuations?

[ixne]

I have a fool-proof plan...

That says it all.

[monbux]

I work at a coin store

Please provide details.

I work at a bullion, jewelry, pawn (only high-end jewelry) and numismatic coin store. I'm the coin buyer. A couple of these in the case would definitely spark conversation.

*EDIT: and to clarify, I'm willing to share with the lender my identity (Drivers License, Passport, Signed Contract, Picture with contract, tell you the name and location of where I work...etc.) I'm not running away with anyone's money here.

You sell high end jewlery?
Perhaps provide a license or something that shows proof of ownership of the store, or at least proof of being a vendor

[SaltySpitoon]

Wouldn't it be more practical to just create a group buy at, cost + X BTC and then come out with 50X BTC profit for yourself, without having to take any loans? Then you wouldn't have to worry about finding buyers after purchasing the roll either.

[Kouye]

6. Most importantly, this plan will at the very least not fail. I think that is clear enough to see.
Hope to hear from you!

Great plan. No time frame, though?
And since you sell coins "all the time" on ebay , how come you don't start with 10 btc of yours, and quickly grow to 60 using the +22% agenda?

[Lohoris]

Wouldn't it be more practical to just create a group buy at, cost + X BTC and then come out with 50X BTC profit for yourself, without having to take any loans? Then you wouldn't have to worry about finding buyers after purchasing the roll either.

good point, makes more sense.

And since you sell coins "all the time" on ebay , how come you don't start with 10 btc of yours, and quickly grow to 60 using the +22% agenda?

because, as far as I understand reading here, he needs to spend 50 to get the discount.

[BorderBits]

This is an obvious scammer.  Avoid. 

[AndrewWilliams]

Sounds like a good plan, except the coins can sit unsold for a very, very long amount of time.

Seems like a good deal for Johnnie, lol...