How do we find Cas coin redeemers before they redeem?

[iBitcoinHongKong8]

Hi All,
So looking at the site rusbitcoinuser built which is at...https://casascius.ludvigart.com and it got me thinking is there any way to raise greater awareness for people who are considering redeeming? I mean just for an example in this month alone 2 series 2 5btc coins were redeemed not to mention a couple dozen other coins that I'm sure may have stirred some interest here for buying them. If they knew they could sell them here not only might we get some new people in here to unload their coins we might build this community even bigger for now, tomorrow and beyond. I personally would have been interested in one of those series 2 5btc coins. I'm sure some of you would have been interested in some of the others that have been redeemed in the last few months or even this year. So is there anyway we can get more people to find this site before they redeem? I mean if someone must redeem and just doesn't wanna deal with the headaches that's fine but we have an amazing setup here with plenty of reputable escrows that can mitigate their risks and everyone wins. Just thinking out loud here and would love any and all feedback! Thanks for reading. Looking forward to your replies.

iBHK8

[Bitcoinwaist]

When/if the premiums come back, people will probably try to sell first before peeling imo. There are nice brass cas coins on here listed for 1.2BTC and not selling, why would anyone want to sell for less than that? The inherent risks/hassles are not worth the reward. The pool of buyers around here has pretty much dried up and until there is some new blood with deep pockets I dont see much changing in the short term. Maybe some sort of advertising( ex. having a physical presence/table at major coin shows) could draw in new people?

[iBitcoinHongKong8]

Easy... we hack the Casascius customer database...  loolz     

 

[iBitcoinHongKong8]

When/if the premiums come back, people will probably try to sell first before peeling imo. There are nice brass cas coins on here listed for 1.2BTC and not selling, why would anyone want to sell for less than that? The inherent risks/hassles are not worth the reward. The pool of buyers around here has pretty much dried up and until there is some new blood with deep pockets I dont see much changing in the short term. Maybe some sort of advertising( ex. having a physical presence/table at major coin shows) could draw in new people?

True....I was just drunk brainstorming last night. Now I see this isn't such a easy task. And I totally hear ya on the brass coins that aren't carrying much of a premium atm. Perhaps more with a better/higher premium will find us. Also next bull run up we might find some new blood like myself who found this site when I discovered Cas and wanted to buy etc....In the meantime we will just let them be redeemed allowing every coin to be more scarce for us  . Appreciate the feedback!

iBHK8

[JanEmil]

Trades always have some kind of risk.

CAS coin have "safe" BTC. If you trade you can end up with hacked BTC.

Escrow can take weeks before you get your BTC.

[CanaryInTheMine]

Hi All,
So looking at the site rusbitcoinuser built which is at...https://casascius.ludvigart.com and it got me thinking is there any way to raise greater awareness for people who are considering redeeming? I mean just for an example in this month alone 2 series 2 5btc coins were redeemed not to mention a couple dozen other coins that I'm sure may have stirred some interest here for buying them. If they knew they could sell them here not only might we get some new people in here to unload their coins we might build this community even bigger for now, tomorrow and beyond. I personally would have been interested in one of those series 2 5btc coins. I'm sure some of you would have been interested in some of the others that have been redeemed in the last few months or even this year. So is there anyway we can get more people to find this site before they redeem? I mean if someone must redeem and just doesn't wanna deal with the headaches that's fine but we have an amazing setup here with plenty of reputable escrows that can mitigate their risks and everyone wins. Just thinking out loud here and would love any and all feedback! Thanks for reading. Looking forward to your replies.

iBHK8

Pretty hard to do this.  Alot of these got gifted to people to intro them to btc during 2011-2013 yrs
The recipients don't read these forums or anything else where you can reach them.

[iBitcoinHongKong8]

Trades always have some kind of risk.

CAS coin have "safe" BTC. If you trade you can end up with hacked BTC.

Escrow can take weeks before you get your BTC.

Hi Jan,
What do you mean by if you trade you can end up with hacked BTC? Are you saying you can buy a Cas and it not contain what it's advertised as holding or having inside the coin or are you more saying/implying that if you do a sale you can end up losing out due to the increased risk with delivery/shipping etc...? Would love your clarification on that. Thanks.

iBHK8

[iBitcoinHongKong8]

Hi All,
So looking at the site rusbitcoinuser built which is at...https://casascius.ludvigart.com and it got me thinking is there any way to raise greater awareness for people who are considering redeeming? I mean just for an example in this month alone 2 series 2 5btc coins were redeemed not to mention a couple dozen other coins that I'm sure may have stirred some interest here for buying them. If they knew they could sell them here not only might we get some new people in here to unload their coins we might build this community even bigger for now, tomorrow and beyond. I personally would have been interested in one of those series 2 5btc coins. I'm sure some of you would have been interested in some of the others that have been redeemed in the last few months or even this year. So is there anyway we can get more people to find this site before they redeem? I mean if someone must redeem and just doesn't wanna deal with the headaches that's fine but we have an amazing setup here with plenty of reputable escrows that can mitigate their risks and everyone wins. Just thinking out loud here and would love any and all feedback! Thanks for reading. Looking forward to your replies.

iBHK8

Pretty hard to do this.  Alot of these got gifted to people to intro them to btc during 2011-2013 yrs
The recipients don't read these forums or anything else where you can reach them.

Yeah I hear ya here. As I said I was just kinda drunk brainstorming. There is certain coins that have been redeemed lately that I'm sure would have sold for decent to good premium. Not all coins have a premium especially these days but there's plenty that do. Would just be amazing I guess if they all came here but I understand now that's just wishful/drunk thinking lol. All the best C!


iBHK8

[JanEmil]

Hi Jan,
What do you mean by if you trade you can end up with hacked BTC? Are you saying you can buy a Cas and it not contain what it's advertised as holding or having inside the coin or are you more saying/implying that if you do a sale you can end up losing out due to the increased risk with delivery/shipping etc...? Would love your clarification on that. Thanks.
iBHK8

CAS coins are fine and validated by the community. Also the BTC on them.

But lets say I have to pay you 6BTC for a Cas coin. Do you validate the BTC are not from a exchange hack, mafia or Iran etc. Dirty BTC could can get blocked on some services later when you want to cash out.

Maybe search for "tainted Bitcoins"

The most clean BTC are newly mined ones.

Have no personal examples. Only know what I've read here on the forum.

[FFrankie]

Hi Jan,
What do you mean by if you trade you can end up with hacked BTC? Are you saying you can buy a Cas and it not contain what it's advertised as holding or having inside the coin or are you more saying/implying that if you do a sale you can end up losing out due to the increased risk with delivery/shipping etc...? Would love your clarification on that. Thanks.
iBHK8

CAS coins are fine and validated by the community. Also the BTC on them.

But lets say I have to pay you 6BTC for a Cas coin. Do you validate the BTC are not from a exchange hack, mafia or Iran etc. Dirty BTC could can get blocked on some services later when you want to cash out.

Maybe search for "tainted Bitcoins"

The most clean BTC are newly mined ones.

Have no personal examples. Only know what I've read here on the forum.

BTC will get recycled so much with its limited supply that eventually all of it will be "tainted"

[Sat0shisGhost]

BTC will get recycled so much with its limited supply that eventually all of it will be "tainted"

I don't disagree with you but good luck explaining it to the SWAT team that has just knocked down your door because you got paid in "tainted" coins and then sent them to an exchange.

[gentlemand]

Speaking as a Casascius owner the temptation to peel rather than sell is... compelling.

Premiums have reduced to a level where the risk in selling barely justifies the hit you take compared to peeling and flogging the shitforks. A few sale prices appeared to reach levels below that.

I know it's sacrilege but I'd favour that over the potential for things to go tits up either during payment, shipping or having to deal with quasi anon assholes.

At the same time it's surprising how little known this section is. Every thread in Reddit has to point here rather than the owner knowing about it. All the same I would not blame them at all for discarding the idea.

[iBitcoinHongKong8]

Yeah honestly speaking here I can likely say I'm just about done collecting for the time being. This can always change in the future but deep down I'm not a hardcore collector. I'm a minimalist and the less I have to collect the happier I am. However I have always thought of the "tainted coins" issue soon after I began buying some Cas coins to complement my BTC holdings. It's fine in the end and where it stands today because I bought what I was willing to take a chance on and most importantly I wanted to own those specific coins. I'm still very happy I own what I own but I do worry about the tainted factor in the event I ever needed to peel and redeem etc....However the good news is BTC is just a portion of my portfolio. Granted it is the most fun, sexy and exciting portion of my portfolio... it is still just 1 slice of the overall pie for myself(this is just me personally). I believe we will be USD constrained for longer than most wish to believe and that's fine. To each their own. However it gives me great pause in wanting to dive much further into physicals than I am now just incase. Until BTC upends the financial system then the financial system will be in control(hence you cannot necessarily off ramp a large amount of BTC without the financial system saying you can for the time being). Granted there are ways around this but for now BTC is a nascent technology that has an enormous promise. I'm happy to take a chance on what I own both digitally and physically, however I have to say I'm pretty full and done buying for the time being sans a really good deal or something I personally wish to buy with little premium over peel value for this very concern JanEmil mentions above. Either way Im really glad to be having this conversation and appreciate every one of your individual input and thoughts as this reply is to all of your replies and not just JanEmil  ! Feel free to keep the thoughts and posts coming as I find it all helpful and informative.

iBHK8

[Blazed]

Let them redeem them to make he rest more scarce! Every time a coin gets peeled it makes me happy that mine become more rare.

[iBitcoinHongKong8]

Let them redeem them to make he rest more scarce! Every time a coin gets peeled it makes me happy that mine become more rare.

This is also a great plan! Let them redeem and every Cas becomes more scarce by the peel no doubt!!

[nubbins]

Premiums have reduced to a level where the risk in selling barely justifies the hit you take compared to peeling and flogging the shitforks..

Premiums aside, there’s a very large risk involved in letting a coin worth tens of thousands of dollars loose in the mail. Moreso for international transactions. Lots of things could go wrong!

The only situation in which I would ever sell another coin would be in person, with my lawyer present 

Even then — I’d probably just peel it, as the sale premium would likely not be worth the hassle.

[gentlemand]

Premiums aside, there’s a very large risk involved in letting a coin worth tens of thousands of dollars loose in the mail. Moreso for international transactions. Lots of things could go wrong!

Indeed. Shipping disasters are a bigger concern to me than escrows and so on. I can't imagine you'd be able to get enough insurance for almost any coin any more, let alone the big ticket ones.

I presume the willingness to sell will continue to wilt because of factors like that.

[iBitcoinHongKong8]

Premiums have reduced to a level where the risk in selling barely justifies the hit you take compared to peeling and flogging the shitforks..

Premiums aside, there’s a very large risk involved in letting a coin worth tens of thousands of dollars loose in the mail. Moreso for international transactions. Lots of things could go wrong!

The only situation in which I would ever sell another coin would be in person, with my lawyer present 

Even then — I’d probably just peel it, as the sale premium would likely not be worth the hassle.

This is absolutely a good point. It's basically for now anyways in stuck in the middle of not dealing with the headaches of shipping and not quite worth it to fly out to do a P2P trade possibly even with legal representation etc... Sure there are some coins out there now that are absolutely worth the P2P and legal representation but for the most part those coins and trades/sales are few and far between. The average 1BTC error coin is stuck in that weird middle of I don't wanna rely/worry about shipping but I also don't want to fly out to pick it up in person, etc....Perhaps this changes but for now I feel like we're in this strange in-between. The good news is that this could change at anytime as everything in the crypto world is extremely fluid. Thanks for your feedback.

iBHK8

[rdbase]

Premiums have reduced to a level where the risk in selling barely justifies the hit you take compared to peeling and flogging the shitforks..

Premiums aside, there’s a very large risk involved in letting a coin worth tens of thousands of dollars loose in the mail. Moreso for international transactions. Lots of things could go wrong!

The only situation in which I would ever sell another coin would be in person, with my lawyer present 

Even then — I’d probably just peel it, as the sale premium would likely not be worth the hassle.

I wouldnt trust international postage with anything worth 10s of thousands of dollars to be sent to me either.
Either spend the extra money to get it courier shipped as they insurance it for its full price anyways or dont ship them out at all.
I have wanting to get into the entire buying physical bitcoin and cryptocurrency thing for a while now but still havent decided upon if I could resist peeling them if the value of what they hold ever drops to 50-70% of what they were worth when I bought them.
But this thread has got me doubting my first thoughts about it since the op said the more people peel them to redeem the more valuable they will become!

[OgNasty]

I have wanting to get into the entire buying physical bitcoin and cryptocurrency thing for a while now but still havent decided upon if I could resist peeling them if the value of what they hold ever drops to 50-70% of what they were worth when I bought them.
But this thread has got me doubting my first thoughts about it since the op said the more people peel them to redeem the more valuable they will become!

Why would you peel if the value went down?  I had the opposite concern.  Would I be able to resist peeling them when they go up 1,000 times what they were worth when I bought them?  You make a good comment about their value increasing alongside their rarity (at some point).

Even then — I’d probably just peel it, as the sale premium would likely not be worth the hassle.

Agreed.  With current premiums, it doesn't make a TON of sense to sell them online.  The risk/reward is clearly not worth it in most situations.  This means either the market is seriously undervaluing Casascius coins, or more people need to peel them until their rarity justifies a higher market premium.