casascius and other physical bitcoins is a fraudulent idea

[casascius]

if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".

[mpfrank]

It's also not good at all. Paper wallets shouldn't look like something wich can be sold bought or exchange. At first... And all this sealings on a paper wallets give the user same feeling as well. You are constantly trying to make a physical bitcoin carrier that looks like an exchangeble things like coins banknote public bond or something that can be given as a present or sold. It is a destructive activity.

Why are you doing that?? And why are you priding of that?

I don't see it as fraudulent, as long as the person receiving it understands the caveats.  The way I see it, it is the responsibility of each individual seller or reseller of physical bitcoins to make sure the buyer understands the relevant security limitations.  If this isn't done, that's not the fault of the original manufacturer of the coins.

[Realpra]

Lol like the MAJORITY of bitcoiners using web wallets are any safer.

[hennessyhemp]

if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".

Lol.  Its current form reminds me of David Cross in Arrested Development...AnalRapist

[cAPSLOCK]

if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".

Only wish I'd bought one of your coins back when you first announced them as I considered. Ah well...  As to the above:

https://www.youtube.com/watch?v=pz8aYiH_nRg

[StarfishPrime]

The way I looked at it from the start, I imagined something could attract their attention but even then, it would be a win-win for Bitcoin.

I have always believed that any outreach by the government would be impossible without some sort of implicit official endorsement of Bitcoin as being "money" - something that in Sept 2011 when I started this, was little more than a far-off dream.  At that time the world saw Bitcoins the way we today see the euphemistically self-deprecating altcoin called "shitcoin".  I mean, all the news coverage was consistently "Bitcoins are dead", "Bitcoin hacked, value plummets to 0.01", "the rise and fall of Bitcoin", "ponzi scheme collapsed", etc etc.  People couldn't chuck them fast enough.

Now we're at the point where FinCEN wants to bother me...and...drum roll...Bitcoin is officially being considered money.  The original reason I ever started with my coins was to bring positive attention to Bitcoin, and even now that my ability to continue making coins is being put up for question, I can't see how what's happened overall anything less than total victory for Bitcoin.  Even if my legal counsel says "Don't make or sell another Casascius COin ever again in your life"... 2 1/2 years of Casascius Coins = mission accomplished.

That's very true.

I just wonder how the press could possibly illustrate news articles about bitcoin without any Casascius coins

Maybe you could sell unfunded coins, it can't be against any FinCEN guidelines to sell metal discs with stickers - at least not yet.

[mpfrank]

Yeah Cas, why not just sell coins with BIP38 encrypted keys and no value loaded, for the cost of manufacture + profit, and let the customer send BTC to their coin's address themselves.  I don't see how anyone could accuse you of being a money transmitter in that case.

[Dabs]

Someone is already making those encrypted keys. Basically, it's just a QR code engraved and inked on aluminum or steel.

[DeepCryptoanalist3]

if you're changing your username and are sticking around for a while, kill two birds with one stone: it's "analyst".

AHAHA what a witty guy.

I bet that some Chinese guys who read this thread have already decided to mint coins which will look like yours preserve private keys and sell it on ebay. Just to satisfy the demand on this fraudulent coins. So many guys here in the thread are arguing that they want to buy one of these. Why not let them buy it, really? Counterfeit of any such physical bitcoin is not even a crime. Light-mindedness should be punished.

Also I can imagine what you will say in situation when one user of your coin or a coin which looks like yours will open it and realise that private key stolen. You will probably say that it's not your coins it is a fake coin and you aren't responsible for this fraud.

Casascius coins helped bring a digital intangible into physical form...one of the best things to hit Bitcoin since the blockchain if you ask me.

And all these fans will continue to praise you.

[DeepCryptoanalist3]

Yeah Cas, why not just sell coins with BIP38 encrypted keys and no value loaded, for the cost of manufacture + profit, and let the customer send BTC to their coin's address themselves.  I don't see how anyone could accuse you of being a money transmitter in that case.

What is the meaning of a physical coin if you can't sell it or buy it as any other physical money?

Casascius coins helped bring a digital intangible into physical form...one of the best things to hit Bitcoin since the blockchain if you ask me.

Satoshi developed a perfectly secure version of an old money and Casascius let them suffer from the old physical money falsification problem. He just try to compromise a brilliant idea of cryptocurrency. What a good guy he is. Don't you think that he is like a Satoshi evil twin instead?

[polarhei]

Well, the casascius packs bitcoin as real 18K gold coin (or 23K if serious) even you used the amount stored in order to get double profit.

I think, due to the issue, should delivery these by using paper in order to reduce uncomfortable issues. But no need real metal to pack, just using bank bill like to pack.

[hennessyhemp]

There are coin collectors the world over seeking to purchase a piece of brass with a fancy sticker for nearly twice the face value of a commodity-like instrument that didn't exist 10 years ago (which means there are many more people just becoming acquainted).  Will people try to counterfeit Bitcoins, and maybe even Casascius coins?  Does the Pope fart in the woods?

Calling it a fraudulent idea...well that's just naive.

[cAPSLOCK]

You don't have to buy the coins.

They are a novel idea for a physical wallet.

No one has to buy them.

Your argument is invalid.