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Author Topic: Physical Litecoins  (Read 9276 times)
coblee
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December 02, 2011, 11:36:33 PM
 #1

I think Mike Caldwell's physical bitcoins are really cool. I talked to him about creating a bar for storing litecoins.
See this for what his bitcoin bars look like: https://bitcointalk.org/index.php?topic=53203.0

Then I thought that it would be even cooler if the bar was silver plated and had an 'L' etched in it instead of a 'B'. It seems like in order to do something like that, we would need to order possibly hundreds of these bars. I want to know if there's any interest in this from the Litecoin community. I'm guessing the premium on each bar would be at least $20. Let me know if you are interested and about how many bars, and what denomination would you be intersted in. Obviously a 100 LTC bar does not make much sense as 100 LTC is like $2. To me, 10,000 LTC seems like the right denomination.

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terrytibbs
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December 02, 2011, 11:54:15 PM
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I would be interested in a 10,000 one.
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December 03, 2011, 12:00:05 AM
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I don't really understand the whole point of a bar like that -- I thought the purpose of having physical coins was to facilitate in-person trading, and trading where no network connection is available. Bars don't seem to be good for that.
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December 03, 2011, 12:00:36 AM
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I really like the idea, but I think I need to see LTC make it to its 1 year anniversary.  I hope to get oen then.  Grin

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December 03, 2011, 02:02:57 AM
 #5

I would like one, but I can't afford it yet  Wink

Good work with litecoin btw

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December 03, 2011, 02:54:27 AM
 #6

Ok, I'm sure I'm ignorant somehow. I don't understand how digital currency is transformed into physical anything. Is there a private key embedded into it or something?

That said, I'd be interested. I'd rather go with a 5000 coin bar myself though. *shrug*
coblee
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December 03, 2011, 03:04:19 AM
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I would like one, but I can't afford it yet  Wink

Good work with litecoin btw

You can't afford the $20 premium or the 10,000 ltc? If it's the 10,000 ltc, what denomination works better for you?

For those not familiar with casascius coins, see here: https://www.casascius.com/

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December 03, 2011, 03:18:12 AM
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Thanks for the link, Coblee. *VERY* cool. Yes, I'm interested.

Another reason the smaller denominations (not absurdly small) are nice would be for the Scrooge McDuck type thing. Handfuls of LTC?  That would be cool. Smiley
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December 03, 2011, 03:29:59 AM
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I would like one, but I can't afford it yet  Wink

Good work with litecoin btw

You can't afford the $20 premium or the 10,000 ltc? If it's the 10,000 ltc, what denomination works better for you?

For those not familiar with casascius coins, see here: https://www.casascius.com/
Ah, I only have around 1K litecoins is what I mean. Personally I think you should have 500-1k coins, and 10k or 5k bars.

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December 03, 2011, 03:44:43 AM
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I think this is a little premature, but that's just me.  I encourage you to keep pushing litecoins!

CampBX for buying BTCs, Coinbase for selling BTCs or Vircurex for trading alternate cryptocurrencies like DOGEs

PM me with any questions on these sites!  Happy to help!

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coblee
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December 03, 2011, 04:07:01 AM
 #11

I would like one, but I can't afford it yet  Wink

Good work with litecoin btw

You can't afford the $20 premium or the 10,000 ltc? If it's the 10,000 ltc, what denomination works better for you?

For those not familiar with casascius coins, see here: https://www.casascius.com/
Ah, I only have around 1K litecoins is what I mean. Personally I think you should have 500-1k coins, and 10k or 5k bars.

I agree. But the premium on lower denomination coins will be much higher, so I don't think there will be enough demand for those.

I think this is a little premature, but that's just me.  I encourage you to keep pushing litecoins!

Possibly. I wanted one for my personal collection and will settle for a gold bitcoin bar with storing litecoins. But if enough people are interested in getting a silver one, that would be much cooler.

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December 03, 2011, 04:09:05 AM
 #12

I'd be more interested in small denomination coins, tbh.

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December 03, 2011, 04:40:32 AM
 #13

What I guess you probably want is a chrome plated bar, more so than a silver one, right?

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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December 03, 2011, 12:57:37 PM
 #14

I think I would pay up to $20 for a see through Litecoin.   I was thinking about going to McDonalds as they have a promotion going on with these Coca Cola cups for free or something



That one all the way in the back of the row, take the bottom of the cup, glass cutter, yup, diy litecoin lol.  I would need to up my etching skills, as I have none.   Maybe it is too early for the coins.  Could we see a mock up of what the bar would look like?

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December 03, 2011, 05:25:37 PM
 #15

I wonder if there would be a way to encase the private key in clear casting resin, and to get to it you had to break the coin...like a fortune cookie. Would possibly be cheaper than doing metal coins.
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December 03, 2011, 07:04:02 PM
 #16

Oh hey I just thought of something...

my laser machine can cut AND engrave acrylic.  I could make transparent litecoins no problem.  Now, no way to hide the private key... but neato as a collector's item.

(If someone throws together the artwork, I MAY make a few just to play with the machine)

(Use Adobe Illustrator... do GREEN cut lines - RGB 00FF00 - must be red vectors 0.5 point to indicate cutting. Where to engrave, do RED #FF0000, this will just whiten the surface without cutting, and can be raster or vector objects)

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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December 03, 2011, 08:31:21 PM
 #17

I would love to see litecoin bars. I'd have to read up a bit how/why these are actually secure, but once you had one it would be great to put into a vault or something. Sure  100 LTC is $2 for now, but emphasis on the "FOR NOW". :-)

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December 03, 2011, 09:57:19 PM
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(Use Adobe Illustrator... do GREEN cut lines - RGB 00FF00 - must be red vectors 0.5 point to indicate cutting. Where to engrave, do RED #FF0000, this will just whiten the surface without cutting, and can be raster or vector objects)
I don't have Illustrator, but I do you a few other graphics programs. Can the laser machine understand any other file formats?  What are the specific requirements for a file to be used to engrave?

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Mike Caldwell
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December 04, 2011, 05:23:38 AM
 #19

(Use Adobe Illustrator... do GREEN cut lines - RGB 00FF00 - must be red vectors 0.5 point to indicate cutting. Where to engrave, do RED #FF0000, this will just whiten the surface without cutting, and can be raster or vector objects)
I don't have Illustrator, but I do you a few other graphics programs. Can the laser machine understand any other file formats?  What are the specific requirements for a file to be used to engrave?

I could probably just take a high resolution black-and-white image.  Black engraves.  Maximum DPI possible.  No JPEGs.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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December 04, 2011, 03:56:37 PM
 #20

I think it would be neat to have a rainbow shine type effect on this, if that's even possible.

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