CASASCIUS PHYSICAL BITCOIN - In Stock Now! (pic)

[TheNewAnon135246]

I would definately buy unfunded coins, as long as they come with hologram stickers. I don't mind funding them myself.

[1713547058]

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[1713547058]

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[htspringer]

Correct me if I'm wrong...
An "unfunded" Casascius coin would not benefit from the reputation Mike Caldwell has garnered...
Its integrity would depend on whoever owned it.
If I bought an unfunded coin from Mike, funded it myself and later tried to sell it, whoever buys it would have to trust me.

[odolvlobo]

Correct me if I'm wrong...
An "unfunded" Casascius coin would not benefit from the reputation Mike Caldwell has garnered...
Its integrity would depend on whoever owned it.
If I bought an unfunded coin from Mike, funded it myself and later tried to sell it, whoever buys it would have to trust me.

They can check the value of the coin by looking up the bitcoin address on the coin.

[htspringer]

Correct me if I'm wrong...
An "unfunded" Casascius coin would not benefit from the reputation Mike Caldwell has garnered...
Its integrity would depend on whoever owned it.
If I bought an unfunded coin from Mike, funded it myself and later tried to sell it, whoever buys it would have to trust me.

They can check the value of the coin by looking up the bitcoin address on the coin.

How do they know that I didn't write down the private key before I fixed the hologram sticker?

[nubbins]

Because you didn't fix the sticker, Mike Caldwell did.

[newguy05]

It will create a mess on the secondary market where people are not as familiar with the details. You will have people selling unfunded as funded 1 BTC to unsuspecting buyers, you will have buyers find out later the 1 BTC casascius coin they bought actually has no btc in it even though the seal is intact, you will have mass confusion from the market and put in doubt all the old coins including those from previous years if they actually all have btc in it.  It will destroy the integrity and reputation of casascius coins.

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud) or allowing buyers to apply the seal themselves( for obvious reasons ).  Both horrible horrible ideas.

If that's how it's going to be going forward, please use a different design and don't call them casascius coins.

[casascius]

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud) or allowing buyers to apply the seal themselves( for obvious reasons ).  Both horrible horrible ideas.

I am actually more likely to just have the hologram say "ZERO BTC" to make this clear.  I already have used holograms of this sort for the bars etc.  I had originally considered "SELF FUND" but I'm not at the point where I'm irreversibly committed to the text, and "ZERO BTC" twice, next to the address, is probably more likely to send the right message to a broader audience.  The word "SELF" might be misinterpreted (who's self? myself? yourself?), and so might "FUND" (verb? noun?)... but "ZERO" has a pretty clear meaning, and so does "BTC".

All such holograms will still be applied by me, not by the buyer, and self-applied Casascius holograms have never been proposed or offered.

And this probably doesn't need to be said, I don't agree with your argument that offering an unfunded version of a coin is fraud.

If that's how it's going to be going forward, please use a different design and don't call them casascius coins.

I will definitely use a different design, but let's be clear: Casascius is a word that identifies me as the origin of the item, and is not an indicator of anything else.

[newguy05]

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud) or allowing buyers to apply the seal themselves( for obvious reasons ).  Both horrible horrible ideas.

I am actually more likely to just have the hologram say "ZERO BTC" to make this clear.  I already have used holograms of this sort for the bars etc.  I had originally considered "SELF FUND" but I'm not at the point where I'm irreversibly committed to the text, and "ZERO BTC" twice, next to the address, is probably more likely to send the right message to a broader audience.  The word "SELF" might be misinterpreted (who's self? myself? yourself?), and so might "FUND" (verb? noun?)... but "ZERO" has a pretty clear meaning, and so does "BTC".

All such holograms will still be applied by me, not by the buyer, and self-applied Casascius holograms have never been proposed or offered.

And this probably doesn't need to be said, I don't agree with your argument that offering an unfunded version of a coin is fraud.

If that's how it's going to be going forward, please use a different design and don't call them casascius coins.

I will definitely use a different design, but let's be clear: Casascius is a word that identifies me as the origin of the item, and is not an indicator of anything else.

My mistake on the self-applying seal, read it wrong from previous posts - understood now its a non-issue.

Mike, are you saying the new self fund casascius coins will NOT have the word "1 Bitcoin" on the brass side also? in addition to the hologram saying zero btc or something similar?   That would make it a bit better but i still think it's a bad idea - looking at the tree instead of the forest sort of thing.  The US dollars have "in god we trust", casascius coins lets face it, is "in mike cadwell we trust". It took you 2+ years of hard work to build casascius brand and make it the most valuable physical btc - there is a reason why people pay 2x for casascius and not other coins.

I just think this cheapens the brand to the point of no return if they can be sold as blanks with no value and not viable as a long term strategy.

If in person delivery is okie, maybe it's better to wholesale in person to a few reseller as distributor ( i am sure there will be plenty people willing), can also have 0.1 0.25 0.5 denominations given the current price. Anything but flooding the market with blanks that has no value after working so hard to make casascius a highly desired collectible item.

Of course just my opinions, ultimately it's your call.



 

[Hawkix]

I suggest to change "1 BITCOIN" message on coin face to be changed just to BITCOIN. Without quotes.

[nubbins]

I suggest to change "1 BITCOIN" message on coin face to be changed just to BITCOIN. Without quotes.

PHYSICAL BITCOIN, even. I do understand the point that you'd like to discourage people from putting limitless amounts of funds on the coins, but I think the quotation marks slightly degrade the appearance of the coins, and the distinction that they are intended to convey will be lost on many.

FWIW, people can already add limitless funds to any Casascius coin. That said, I haven't yet seen a coin that was overfunded by more than a trivial amount of money (0.001 is the most I've seen so far).

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud)

Fraud, really?

[htspringer]

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud) or allowing buyers to apply the seal themselves( for obvious reasons ).  Both horrible horrible ideas.

I am actually more likely to just have the hologram say "ZERO BTC" to make this clear.  I already have used holograms of this sort for the bars etc.  I had originally considered "SELF FUND" but I'm not at the point where I'm irreversibly committed to the text, and "ZERO BTC" twice, next to the address, is probably more likely to send the right message to a broader audience.  The word "SELF" might be misinterpreted (who's self? myself? yourself?), and so might "FUND" (verb? noun?)... but "ZERO" has a pretty clear meaning, and so does "BTC".

All such holograms will still be applied by me, not by the buyer, and self-applied Casascius holograms have never been proposed or offered.

And this probably doesn't need to be said, I don't agree with your argument that offering an unfunded version of a coin is fraud.

If that's how it's going to be going forward, please use a different design and don't call them casascius coins.

I will definitely use a different design, but let's be clear: Casascius is a word that identifies me as the origin of the item, and is not an indicator of anything else.

OK, Thanks for the clarification.
I'm glad that you'll be applying the stickers.
The term "zero bitcoin" is confusing.  If the coin has been funded, then the "zero btc" designation is immediately obsolete.
I agree with the comment that if you issue self funded Casascius coins you'll create confusion and risk devaluing the Casascius coins that are already out there.

[htspringer]

Addendum:
Mike, do you really want to issue coins with the Casascius name that say "1 bitcoin" when there is really no funding of those coins? 

[stereotype]

BTC X or X BIT, as in, a given amount?

Also, if and when they are traded/exchanged, a Casascius 'X coin' could easily become known and easily recognisable as the standard for self-funded coins.

[newguy05]

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud)

Fraud, really?

if he sells coins with "1 Bitcoin" on them and an intact seal when in fact it doesnt actually have any btc in them, it is fraud. But from my understanding mike is changing the design and removing the numbers, then no it's not fraud.

Not to beat a deadhorse, i just think that will make casascius worthless, like those play coins that get sold for a few bucks.

[htspringer]

BTC X or X BIT, as in, a given amount?

Also, if and when they are traded/exchanged, a Casascius 'X coin' could easily become known and easily recognisable as the standard for self-funded coins.

The very idea of a non-denominated coin seems hoakey to me.
If the actual value has to be constantly verified on the internet, you've lost the purpose of a physical bitcoin.

[ixne]

Regarding the potential for face to face sales I'd like those who are interested to contact me and let me know what they'd be interested in and what kind of deal.

(And, I ask, in a tongue in cheek manner, that I not be required to respond immediately)

I am still trying to figure what kind of interest there is, and what kind of logistics I'll need, and what steps I'll need to take in order to ensure I'm not creating personal security risks for myself or buyers.  It's difficult, because it doesn't take very many funded coins to make a routine of transacting them in person very dangerous.  Switching to unfunded coins wipes all of that out, and after deliberation, it's quite possible I may just offer only that.

Would this be for the sale of your remaining stock, or are you thinking about continuing to offer new funded coin designs? Being a fan of the genre I'd definintely consider taking a vacation to Utah, taking in the sights, and buying 1-2 Casascius coins, especially if new funded versions come out. I don't think I'd want a roll of 20 or anything, don't need FinCEN strip-searching me at the airport...

[mrefish]

Value parameters

1- Denomination
2- Rarity
3- Metal scrap value
4- BTC scrap value
5- Utility , as a hardware wallet

New versions will lose simple denomination, but the hardware wallet value could be enhanced.
 
a) Durability, I see other products able to survive high temperatures with codes built into the metal.
b) A public address QR code to make balance checking easy.
c) A signed QR code balance sticker generated by Casascius, to place on the new coins later.

[nubbins]

Value parameters

1- Denomination
2- Rarity
3- Metal scrap value
4- BTC scrap value
5- Utility , as a hardware wallet

New versions will lose simple denomination, but the hardware wallet value could be enhanced.
 
a) Durability, I see other products able to survive high temperatures with codes built into the metal.
b) A public address QR code to make balance checking easy.
c) A signed QR code balance sticker generated by Casascius, to place on the new coins later.

I believe the reason that the codes aren't etched into the metal is because common medical imaging equipment could read the code without removing the holo.

Regarding point c, can you elaborate? If you're suggesting a second public/private key holo that the purchaser could apply after the fact, I don't think that would ever be something that'd be offered.

[mrefish]

...
c) A signed QR code balance sticker generated by Casascius, to place on the new coins later.

I believe the reason that the codes aren't etched into the metal is because common medical imaging equipment could read the code without removing the holo.

Regarding point c, can you elaborate? If you're suggesting a second public/private key holo that the purchaser could apply after the fact, I don't think that would ever be something that'd be offered.

Re. Durable marking, this might be difficult or impossible; but some sort of temperature stable , subtle marking of the metal would improve the value.

For C, I'm imagining a separate code, not for the keys, but indicating the balance as verified on a date. It might make sense to store these in a coin holder with a pocket, to document the coin's history offline.

[htspringer]

Value parameters

1- Denomination
2- Rarity
3- Metal scrap value
4- BTC scrap value
5- Utility , as a hardware wallet

New versions will lose simple denomination, but the hardware wallet value could be enhanced.
 
a) Durability, I see other products able to survive high temperatures with codes built into the metal.
b) A public address QR code to make balance checking easy.
c) A signed QR code balance sticker generated by Casascius, to place on the new coins later.

I believe the reason that the codes aren't etched into the metal is because common medical imaging equipment could read the code without removing the holo.

Regarding point c, can you elaborate? If you're suggesting a second public/private key holo that the purchaser could apply after the fact, I don't think that would ever be something that'd be offered.

I doubt that any available medical imaging equipment is sensitive enough to pick up an etched engraving.  In the first place, x-rays are very low resolution.  CT and MRI don't work with metal objects because of extensive scattering and noise.