[ANN/PoC] Coldkey Cryptobond - FIRST Timelocked Physical Bitcoin

[Hookzup1]

This is awesome i hope they test well as i want one asap locked until my 17 month olds 18th bday lol

[yogg]

Hello everyone !

Woaw..
Thanks so much for your warm welcome to our latest project !!
It's amazing !! Thank you.
I am also grateful to the members who are going to try out the Cryptobonds and share their experience with these.

It's a relief to witness that, our innovations are truly in phase with what some of you were looking for, and in a broader manner, what would the market look for.
We can, and will, do many things playing around with these technologies.

Thanks much everybody for your support !


I am currently making the Test Cryptobonds as of now.
I'll post pics of them before shipping.

The 1st one will expire on the block #622,800, which according to my calculations will be mined around the 23rd of March 2020.
Then, every test Cryptobond will expire 144 blocks from another, which is ~1 day (~24hr) in Bitcoin time.

This should leave enough time for shipping, and initial tests.

For further reading, Using Locktime for inheritance planning, backups or gifts is a good start.
There are some possible drawbacks in this. It doesn't have to be a show stopper, but it's good to be aware of them.

Absolutely. There is quite a few.
However I am confident that if Bitcoin keeps running as it did during the last 10 years, Cryptobonds will work as intended.
They're like a "bitcoin smart-contract".
I think 60sat/b will always validate an ~80b tx;
if not, and if it is financially interesting to do so, add a little bit on top to help motivate a miner so he includes the locked tx in a block.

Anyway, we will all know very soon what to expect when the test Cryptobonds arrive.

This is awesome i hope they test well as i want one asap locked until my 17 month olds 18th bday lol

Thanks for your kind words !
Well, that would be one use of Cryptobonds for sure !! 18 years from now is quite so time ahead, it's almost twice as much as the whole BTC life so far.
If you think that BTC will keep on running like it does today, and that it will increase in value, then yes;
Cryptobonds are definitely a great way to pass on some crypto to close relatives and make sure they can't spend it in the meantime.

[seek3r]

Cant wait to have one of these in my hands. Sounds super interesting and gl for your project. And congrats to the happy tester to get in touch with this new project.
If I can help you out with anything which is in my power, just hit me up.


Lets gooooooo 

[Jcga]

Glad to be on board for a testing review.

"Coldkey Cryptobond - FIRST Timelocked Physical Bitcoin"
Lovely idea of yours, Go Coldkey.

[Last of the V8s]

Very confusing to call it a bond. Where's the income?
Are opendimes not considered physical bitcoin? idk

[Ticked]

Yogg, Outstanding execution of a brilliant concept. I imagine the market for these could, in due time, extend far beyond the current collector circles as an alternative to a CD. I, for one, would like to gift these to many young family members.  That said, I'm hoping production isn't overly limited. Care to share any insight regarding potential issuance?

[Kryptowerk]

Oh damn, I love the concept! Yay, this is something Andreas talked about about 2+ years ago and it stuck in my mind as a sure-fire safing-option for BTC, but I haven't heard about it since then.

[TheBeardedBaby]

I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.

[phishead]

I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.

Normally it gets moved anyways to here since it would be labeled “off topic”.

Edit: hahah why the hell would you “report” it? Is that offensive to you?

[Mitchell]

I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.

As it's a limited (thus collectable) item, it belongs in this board. Otherwise you would need to report it for being in the wrong section.

...
Edit: hahah why the hell would you “report” it? Is that offensive to you?

I'm pretty sure they mean that they would normal report people who just say "Amazing project". A lot of account farmers/spammers do it on altcoin announcements (and the like).

[ChiBitCTy]

Very confusing to call it a bond. Where's the income?
Are opendimes not considered physical bitcoin? idk

This is as close to a comparison as a bond as you're going to find in the collectibles space, so why not? I funded one of my Kialaras several years ago with the same thought in mind, it forces you to not spend the coins, which at the time I liked the concept because it reminded me of bonds.  Sure you're not necessarily guaranteed to earn interest, but TECHNICALLY bonds aren't either ( I realize the safest investment on the planet is US Treasury Bonds but it's not like they are backed by gold anymore).

The term physical bitcoin does not have a set in stone definition..and I've heard them being called physical bitcoins before. I guess you could also consider it a hardware wallet, but that term does not really fit perfectly either.

I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.

I think it belongs here and I guess it could also fit in the wallets board, but where on the first page would this fit?



Yoggy- awesome project, look foroward to testing it out!

[yogg]

Very confusing to call it a bond. Where's the income?
Are opendimes not considered physical bitcoin? idk

Hey Last of the V8s, thanks for your comment.
It's just a name and not really the exact equivalent of corporate/treasury bonds in custodial finance, but there's the same spirit of locking funds now to retrieve them later.
If "bitcoin" was an entity, among them all I think it would be the one I'd trust most as of today in our world.

Also there's no income, let it be positive or negative.
Negative interest rates for EU-govt equivalent of treasury bonds are a thing, so I think this can be a better savings alternative than a large range of instruments.

I imagine the market for these could, in due time, extend far beyond the current collector circles as an alternative to a CD. I, for one, would like to gift these to many young family members.  That said, I'm hoping production isn't overly limited. Care to share any insight regarding potential issuance?

Yes !
There are many many things to do with these, potentially.
In some way, Cryptobonds are "future BTC". We'll see

I've been thinking about issuance, and I'm not ready to reply as of now yet.
Most certainly, there will be a Collectible release soon.

I hate to sound like those who i actually report but this is really an amazing project. But why do you keep it only in the collectables board? Not so many people come here, so it's very limited exposure, sure you share it with the guys you know fir testing, but projects like that should be on the first page, really.

Thanks a lot for your kind words iasenko, it is much appreciated ! I'm honored that you think Cryptobonds should be on the first page.
I think maybe to post about it in other places, to bring some attention on how the test unfolds. I'm rather confident.


I will send an update next week to every tester.

Thanks a lot everyone for your support ! I'm super happy that that the concept appeals to you all.


Bump with an update !

The test Cryptobonds are ready !

They have been shipped all together in an expedited manner to Mantis Warehouse.
Each tester will receive his test Cryptobond most likely during next week.





As for the tests, each test Cryptobond is set to expire 144 blocks from each other.
Here's the full list of Cryptobonds and the Block number that has been set as an expiry time :

Serial Number	Block Expiry	Tester
1	#622080	Krogothmanhattan
2	#622224	Minerjones
3	#622368	Lesbian Cow
4	#622512	ChiBitCTy
5	#622656	Sat0shisGhost
6	#622800	Owlcatz
7	#622944	Jcga
8	#623088	Me (yogg)

These Cryptobonds shouldn't be spendable before the block that they're locked to hasn't made it to the BTC blockchain.

To all testers :
Please try to execute the Cryptobond before expiry time, see what happens.

Thanks a lot to everyone who accepted to test them Cryptobonds, please do redeem them when doable.

[LoyceV]

The test Cryptobonds are ready !

I really like how they turned out

[krogothmanhattan]

Great job Yogg!

Looking forward to receiving mine

[Jcga]

My mail box is ready.

Nice looking Cryptobond cards.

[rxalts]

Yeah testers, plz do everything asap and ahead of schedule so the masses can get our fix  AMAZING PREVIEW PICS!

[Mitchell]

Damn, those cards look like 🔥!

[owlcatz]

This is great, thanks again Yogg...

Now... Is there ANY Android app or widget for a simple/latest block number showing on my screen?

Thanks!

[bitebits]

Very nice yogg, eager to hear about the test results!

Minor thing I would change because I try to avoid big privacy intruding companies, is to get rid of the word Google. I believe something more neutral like ‘Search’ would be sufficient (and maybe Google does not exist anymore or rebranded when the transaction can and needs to be spend).


Edit some more minor things, do as you like

- Normally the ‘:’ has no space after the word Instructions (same for AuthKey: and S/N:)
- Sentence 1 misses a dot.
- Sentence 4 says ‘privkey’, but under the hologram it says ‘private key’.
- I would replace BTC for Bitcoin, mentioned 3 times.

[El duderino_]

Looks very good and very nice yogg, will follow as well