Introducing BCmint.com Physical Bitcoins 2020

[randomwork]

I don't think he's a scammer, so far I bought several from him put several thousands of dollars worth of BTC in the coins and nothing has been stolen out of it yet.  There could be a lot of personal reasons so i wouldn't rush to that conclusion.

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[ChiBitCTy]

I don't think he's a scammer, so far I bought several from him put several thousands of dollars worth of BTC in the coins and nothing has been stolen out of it yet.  There could be a lot of personal reasons so i wouldn't rush to that conclusion.

Bud, DO NOT store bitcoin in these coins.  It's no offense to them, but you don't know who they are and whether they saved the private keys or not.  They could easily have done so and take off with your coins and you'll not be able to do a damn thing about it (again I am NOT calling them scammers, but as with any collectibles, especially ones that have not been around long, where the makers aren't known, is a major and unnecessary risk).  Collect the coins for fun, but do not store bitcoin on them.  Buy yourself a Trezor or ColdCard and store it on there.  You are putting this money at risk for no reason at all.  Trust in coins like this is earned over a long period of time and even then it still carries a HIGH level of risk.  It would be foolish not to peel those and put the money on a hardware wallet.  

@Mopar- have you heard from them since early Dec when you placed an order, and have you received the order yet?

[MoparMiningLLC]

I don't think he's a scammer, so far I bought several from him put several thousands of dollars worth of BTC in the coins and nothing has been stolen out of it yet.  There could be a lot of personal reasons so i wouldn't rush to that conclusion.

Bud, DO NOT store bitcoin in these coins.  It's no offense to them, but you don't know who they are and whether they saved the private keys or not.  They could easily have done so and take off with your coins and you'll not be able to do a damn thing about it (again I am NOT calling them scammers, but as with any collectibles, especially ones that have not been around long, where the makers aren't known, is a major and unnecessary risk).  Collect the coins for fun, but do not store bitcoin on them.  Buy yourself a Trezor or ColdCard and store it on there.  You are putting this money at risk for no reason at all.  Trust in coins like this is earned over a long period of time and even then it still carries a HIGH level of risk.  It would be foolish not to peel those and put the money on a hardware wallet.  

@Mopar- have you heard from them since early Dec when you placed an order, and have you received the order yet?

Last I heard from them was in Dec - and the order I placed was almost a year ago but was a specific coin number so it was set aside and is awaiting the next stateside shipment - which should be this month.

[SwissCrab]

Don't know if he is a scammer or not, my current theory is that something happened to him, most probably COVID.
At this point I believe that my $250 in BTC are lost.

Last time I've heard from him was 11/Jan/2022

His message was :

Hello there!

Did you just make a BTC payment?

Warden

I did payment on 9/Jan/2022

[polymerbit]

This is not good, better check mine.

[randomwork]

any updates from anyone?

[SwissCrab]

any updates from anyone?

nope

[Eclipse33]

Im not condemning warden and calling him an exit scammer.

I just have some questions that we as community need to answer.

1. How can we mitigate this type of situation happening in the future?

2. What happens if one of the coin manufactures just drops off the face of the earth and doesn't stop in here for a few years? Do you peel or do you still trust?

3. What steps would a coin creator need to take in order to have his customers trust in his product?

[krogoth]

Im not condemning warden and calling him an exit scammer.

I just have some questions that we as community need to answer.

1. How can we mitigate this type of situation happening in the future?

2. What happens if one of the coin manufactures just drops off the face of the earth and doesn't stop in here for a few years? Do you peel or do you still trust?

3. What steps would a coin creator need to take in order to have his customers trust in his product?

    These are indeed good solid questions asked.

    All I can tell you is this. Unless you have generated the keys yourself, there will never be 100% guarantee your coins are safe from being swept someday.

    Its all a matter of trust and to be honest, I would not buy anything with any large amount of BTC on them unless its from the OGs in the early days such as Cas...Bitbills.

   Any new additions I will buy with a minute amount of BTC that I am willing to lose if it came to it without losing sleep over it.

   That's the nature of our hobby...its all based on trusting the coinmaker and that the private keys will not be swept.

[randomwork]

Agreed, can't really trust anyone selling things on here and I do the same putting in portion of my paycheck to these coins.  If the creator scams it will suck but I will still be comfy sleeping at night.

[ChiBitCTy]

Agreed, can't really trust anyone selling things on here and I do the same putting in portion of my paycheck to these coins.  If the creator scams it will suck but I will still be comfy sleeping at night.

Why take the risk? There’s also a big difference between risking your bitcoin in these coins and risking your bitcoin with coins like Casascius or Kialara who are both two well known makers , everyone knows there names and roughly their location with years of trust built up..all that matters.

[ChiBitCTy]

Im not condemning warden and calling him an exit scammer.

I just have some questions that we as community need to answer.

1. How can we mitigate this type of situation happening in the future?  

2. What happens if one of the coin manufactures just drops off the face of the earth and doesn't stop in here for a few years?

3. What steps would a coin creator need to take in order to have his customers trust in his product?

1. How can we mitigate this type of situation happening in the future?  - Really isn't any way of doing this as far as I can think of.

2. What happens if one of the coin manufactures just drops off the face of the earth and doesn't stop in here for a few years? Do you peel or do you still trust? - depends on the situation and the level of trust or lack thereof that the maker has built up

3. What steps would a coin creator need to take in order to have his customers trust in his product? The basics, maker should be prepared to happily explain how keys were created by explaining the entire process. Casascius / Mike Caldwell was big on transparency.  He made it well known who he was and where he lived as he felt it was an important part of building up the trust issue. Transparency is key IMO.

[randomwork]

Is Warden back online?

[Saxoshi]

Is Warden back online?

Last online : January 08, 2022, 06:26:03 AM

[ChiBitCTy]

 4 months with no contact for some now  (& just of what we know from users here on this forum, could be many more).  Negative trust left.

Again, unless you enjoy being scammed, don’t load these coins. If you have, peel them!  Even if you’re willing to lose the coins in theory, you’re essentially funding a scammer operation. At this point it should be beyond obvious no coins should be loaded in these. Listen to those with experience.

[randomwork]

4 months with no contact for some now  (& just of what we know from users here on this forum, could be many more).  Negative trust left.

Again, unless you enjoy being scammed, don’t load these coins. If you have, peel them!  Even if you’re willing to lost the coins in theory, you’re essentially funding a scammer operation. At this point it should be beyond obvious no coins should be loaded in these. Listen to those with experience.

What app you recommend to extract my funds from these?

[ChiBitCTy]

4 months with no contact for some now  (& just of what we know from users here on this forum, could be many more).  Negative trust left.

Again, unless you enjoy being scammed, don’t load these coins. If you have, peel them!  Even if you’re willing to lost the coins in theory, you’re essentially funding a scammer operation. At this point it should be beyond obvious no coins should be loaded in these. Listen to those with experience.

What app you recommend to extract my funds from these?

Coinomi or ballet wallets make it pretty easy.

[Warden_BCmint]

Hello Bitcointalk!

I am so sorry, I wasn't checking here.

It's not covid, rather covid restrictions are opening up, and we are back to busy in real life (finally); in particular the last 3 weeks.

We have not yet started on the 2022-A coins yet for the same reasons; apologies for that. Will get an update on this very soon as we were supposed to start minting them already.

With everything being said, we also agree that you should not store any material amount of BTC anywhere that you did not generate the keys yourself safely.  BCmint.com Physical Bitcoins are more of a fun novelty item to share or trade or introduce Bitcoin to others with.....

Someone will get assigned to specifically monitor the forums.

Thanks for the email drawing my attention to this thread.  Super embarrassing guys. 

I'll reread though the rest of the comments and see if anything needs to be actioned.

Warden
BCmint.com

[SwissCrab]

I was contacted by Warden via DM, I was offered a refund or shipping. Asked for refund, 8 hours later - nothing.

[ChiBitCTy]

Hello Bitcointalk!

I am so sorry, I wasn't checking here.

It's not covid, rather covid restrictions are opening up, and we are back to busy in real life (finally); in particular the last 3 weeks.

We have not yet started on the 2022-A coins yet for the same reasons; apologies for that. Will get an update on this very soon as we were supposed to start minting them already.

With everything being said, we also agree that you should not store any material amount of BTC anywhere that you did not generate the keys yourself safely.  BCmint.com Physical Bitcoins are more of a fun novelty item to share or trade or introduce Bitcoin to others with.....

Someone will get assigned to specifically monitor the forums.

Thanks for the email drawing my attention to this thread.  Super embarrassing guys. 

I'll reread though the rest of the comments and see if anything needs to be actioned.

Warden
BCmint.com

Well I certainly appreciate that you've come back to address these issues.  I will happily remove my negative trust once everyone has been taken care of and made whole whether refunded or shipped coins as previously agreed upon. 

I was contacted by Warden via DM, I was offered a refund or shipping. Asked for refund, 8 hours later - nothing.

I would give them at least a day or two.  As you can see they've come and addressed the issues, which I commend them for.  Not sure why they ignored requests for so long, but glad they are at least addressing it now.