4K Casascius Coin Marketplace

[Eodguy149]

Hey everyone! So I've been working on getting something like this launched for quite some time and am excited to announce that 4K.com now supports Casascius coins!

As BTC price has increased, buying and selling Cas coins has become increasingly difficult, and this friction has led to, what I believe, a significant gap between sale price and what these should actually be valued at.

I've known the 4K founder Richard for quite some time, he got into crypto in 2011 and even though he only owns one Casascius coin, he has been a fantastic supporter of this endeavor and really understands the important historical value of these coins. I have put my money where my mouth is and provided a significant portion of my collection to seed the marketplace. One other member of the forum has also sent in several coins, and a few others have helped significantly with getting this launched. I'll let them chime in if they would like to reveal themselves but I am continually impressed by the amazing support from this community!

If you would like to get involved in any way, have suggestions, questions, or want to learn more about the listing process feel free to DM me. Between Pawn Stars, this, and the marketing cycle we have planned hopefully we can bring Cas coins and other crypto collectibles the attention they deserve! 

Marketplace: https://4k.com/brand/casascius

Yahoo Finance article: https://finance.yahoo.com/news/4k-platform-offer-over-18-160200705.html

Tweet thread: https://twitter.com/jonathantallen1/status/1451226408345227284?s=20

[wheelz1200]

I don't get it.  So people are to trust this 3rd party with what could amount to a 6, 7 or even 8 figure amount of physical coins they own.  I don't know if I'd be able to sleep at night not knowing if they were safe.  Don't get me wrong I'm not implying anything I just don't know about 3rd parties holding my stuff and for me to get an nft in return.  What if I lost access to my nft thingy who gets the coin?

Edit:  fysa if any of those coins sell on that marketplace let me know I'm down for those prices  

Edit 2: always a good thing to get more visibility on physical crypto coins for sure.

[JanEmil]

They can use MJ 

[Liquidoptions]

They can use MJ  

Seems like the better alternative, mj that is

[Eodguy149]

I don't get it.  So people are to trust this 3rd party with what could amount to a 6, 7 or even 8 figure amount of physical coins they own.  I don't know if I'd be able to sleep at night not knowing if they were safe.  Don't get me wrong I'm not implying anything I just don't know about 3rd parties holding my stuff and for me to get an nft in return.  What if I lost access to my nft thingy who gets the coin?

Edit:  fysa if any of those coins sell on that marketplace let me know I'm down for those prices  

Edit 2: always a good thing to get more visibility on physical crypto coins for sure.

Definitely a valid concern and I've thought about this a lot. I think the issue is that 1) Very few people currently use bitcointalk relative to the current size of the crypto community 2) Anyone who comes here is going to have a hard time trusting MJ or other forum based escrows since they don't have any context of the forum history or how valid the trust system is (I think they're fantastic don't get me wrong, it's just hard for someone new to process) 3) the current structure of having a 3rd party escrow hold funds then having to mail the item (and trust the receiver will confirm receipt) or fly and meet the person (which for certain values there are serious security concerns) requires coordination/trust between three parties and is quite a challenge.

I've helped a few people source Cas coins in the past and it basically amounted to me hard vouching for both parties and was quite a challenge. If something goes wrong, the package gets lost, or the anon escrow stops responding what do you do? People don't want to deal with all of these concerns and it's obvious when seeing things like that recent MS65 5 BTC auction go for under peel value. Crypto solves the trust problem in the digital domain but the physical world still unfortunately requires trust assumptions. This team is all US based, identities are all known, the items are insured, and for larger amounts there are signed contracts with known people and legal entities. This allows legal recourse if something were to go wrong. The safest choice is to keep these in a safe but when it comes to selling them, I think this is a step in the right direction. All ears if there are ways to improve it or if you think the current forum system works better for 7-8 figure transactions I'd love to hear why.

Also, some cool stuff in the works now that these can be NFT'd, this allows them to be fractionalized (can sell/own a fraction of a coin) as well as used as collateral for loans or DeFi (access liquidity without realizing capital gains). 4K will also be launching yield farming for items listed on their exchange so even just sitting they will earn an ROI.

But yeah tl;dr do your own research and 4K will need to continually build up its trust with the community as they expand. I personally am trusting them but work within your own risk tolerance. 

[Eclipse33]

eod, this website looks sick.

[dazedfool]

Edit:  fysa if any of those coins sell on that marketplace let me know I'm down for those prices  

right!? me too 

[rxalts]

Hey eod, I think 4k has the right idea and definitely a first mover advantage outside of this forum. Wanted to share some constructive feedback after reviewing the site and comments above:

- NFTs and fractionalized ownership: my assumption is that the goal of this is to minimize the risk of product loss in transit during transfer of ownership and to allow participants to invest without paying the entire cost. My initial thoughts are that Casascius maintain value due to the value of being able to in fact hold a tangible good, though the NFT aspect replaces this which I am not quite sure is a good thing though NFTs even with recent mainstream auction success.  In order to properly crowdsource an item, take Rally for example which has perfected the model, the pricing would need to be reflective of market value to properly sell out to individuals which leads to my next thought.

- Current pricing and use of ERC20 platform: I believe we can all agree on this forum the asking prices are nowhere near the market rates over the last 2 years at any point. While the "make an offer" feature may appear to remedy this dilemma, I personally would not move my decentralized native bitcoin to a wrapped centralized version for the sole purpose of making an offer on this without knowing my offer would be taken into serious consideration. As someone who uses altcoin platforms daily and interact with contracts just to degen and mint the newest NFT, I feel like this may be an even harder sell for those who are bitcoin maxis. I noticed when I attempted to make an offer that the "spend amount" was my offer +10% which is interesting. My guess is the current price is intentionally marked high so a true market value can be found via the make an offer feature which I think may need changes to be successful such as requiring payment within x hours after a signed offer is accepted rather than requiring depositing funds ahead of time. If deposited funds are required, I would suggest allowing multiple options on expiration time similar to OpenSea's model if at all possible as 1 day on USDC could be catastrophic on some days 

- Continue to gain interest: the pictures and authentication are flawless and I think brings added value to the service so kudos to the team. I think this does a great job of catching the attention at first glance as it did for me and more so then when I went to greatcollections.com to look at the 25BTC Cas on auction. So my feedback here is really just they have a real gem and should expand off other aspects to capitalize on this.

I actually considered NFTs and Cas which is why I minted the ENS domain casascius.eth, but due to my thoughts above I chose against pursuing it. Glad to see it being put to the test nonetheless and wish the best to the entire team. If successful this time next year, they can have the domain from me for free if wanted 

Best,
Rx

[Steeley]

Eod,

Website looks great and I wish you all the success possible. This is a great move for physical bitcoins. Way to contribute to this cool hobby / financial sector and smart move partnering with 4K who is already up a rolling.

The coat check system is an interesting one. It seems like the marketing play on this business is trust, becoming the Swiss bankers of valuable collectibles.

Steeley

[egodigitus]

Is 4K looking to buy more cas coins? What's your spread between buy and sell price?

[Eodguy149]

Just had my MS70 silver gilt 1 BTC sell for 3.5 WBTC on 4k, not sure how to feel tbh. Listed at fairly high prices because I wasn't that motivated to sell but apparently someone really wanted one 

txid: https://etherscan.io/tx/0x5d2dea2ab81fc8db685a4646b9b8cc5bd777a97714a01e3ba9542285e86f1c4c

[iBitcoinHongKong8]

Just had my MS70 silver gilt 1 BTC sell for 3.5 WBTC on 4k, not sure how to feel tbh. Listed at fairly high prices because I wasn't that motivated to sell but apparently someone really wanted one 

txid: https://etherscan.io/tx/0x5d2dea2ab81fc8db685a4646b9b8cc5bd777a97714a01e3ba9542285e86f1c4c

Congrats! That's a very good premium IMHO and I don't think anyone on this forum would have paid anywhere near that. I know it's a beautiful rare coin just saying you sold it for a great premium.

iBHK8

[icey]

Just had my MS70 silver gilt 1 BTC sell for 3.5 WBTC on 4k, not sure how to feel tbh. Listed at fairly high prices because I wasn't that motivated to sell but apparently someone really wanted one  

txid: https://etherscan.io/tx/0x5d2dea2ab81fc8db685a4646b9b8cc5bd777a97714a01e3ba9542285e86f1c4c

I'm quite surprised about the lack of discussion around this sale. This is great news for owners and the highest premium I've seen one of these coins fetch in years (in BTC terms at least)  

I'll be keeping a close eye on 4K going forward


Congrats on the sale Eodguy

[shadallion]

Just had my MS70 silver gilt 1 BTC sell for 3.5 WBTC on 4k, not sure how to feel tbh. Listed at fairly high prices because I wasn't that motivated to sell but apparently someone really wanted one 

txid: https://etherscan.io/tx/0x5d2dea2ab81fc8db685a4646b9b8cc5bd777a97714a01e3ba9542285e86f1c4c

This is actually pretty amazing, getting the equivalent of 3.5x the value of the coin.  Well done

[kryme]

Interesting that the wallet was funded using tornado cash. Does this now get shipped to them?

[SatsLife]

Interesting that the wallet was funded using tornado cash. Does this now get shipped to them?

If they redeem the NFT for the physical coin then I believe so.  Why is it interesting exactly? re: using tornado cash

[kryme]

Interesting that the wallet was funded using tornado cash. Does this now get shipped to them?

If they redeem the NFT for the physical coin then I believe so.  Why is it interesting exactly? re: using tornado cash

cuz the point is to hide your money with tornado...but then you go and buy a physical asset. didn't make sense to me lol

[SatsLife]

Interesting that the wallet was funded using tornado cash. Does this now get shipped to them?

If they redeem the NFT for the physical coin then I believe so.  Why is it interesting exactly? re: using tornado cash

cuz the point is to hide your money with tornado...but then you go and buy a physical asset. didn't make sense to me lol

Technically they bought an NFT, right? That should now be tradable on their marketplace. I was going to argue it was used for privacy but the platform would still need to know who you are irl I would imagine, so idk.

[K_os]

Casascius coins are the original NFTs. 4k getting some publicity.


https://finance.yahoo.com/news/rare-1-btc-casascius-coin-195300168.html

[OgNasty]

Just had my MS70 silver gilt 1 BTC sell for 3.5 WBTC on 4k, not sure how to feel tbh. Listed at fairly high prices because I wasn't that motivated to sell but apparently someone really wanted one 

txid: https://etherscan.io/tx/0x5d2dea2ab81fc8db685a4646b9b8cc5bd777a97714a01e3ba9542285e86f1c4c

I'm just curious what made you willing to trust this site?  Seems like you could take that 3.5 BTC and buy 2 more of those coins from here to sell on that marketplace.  I know with a 250% premium on Casascius coins I would sell my entire collection.  I feel like this might fall into the too good to be true category.  The whole idea of sending them your coins in exchange for an NFT smells a little.  I'm happy for you though.  Were you ever worried you wouldn't get paid or that they would take your coin?  I don't think I could have taken such a risk.  Glad it paid off for you.  It must have felt great seeing those coins hit your wallet.  I hope others have a similar experience.