Should I redeem this coin?

[Abiky]

I've been holding a silver "Infinitum Bitcoin" for quite some time now. It's the Albert Einstein edition with keys generated via 2FA (Two Factor Authentication). Bitcoin has gone a long way up since I've acquired this loaded coin, so I was thinking of redeeming the coin myself or selling it loaded. Any suggestion on what I should do with it? Just want to get the most "bang for my buck" out of it (if you know what I mean).

For anyone's reference, here are the pics of the coin:






Thanks.

[1715528672]

1715528672

[crwth]

That depends on what you are going to do with it or the money. There are two scenarios that you could consider.

• You need the money urgently
• You want the "bang for my buck"

Since the second one is your choice, I think selling it loaded is the best way. You could probably fetch higher prices just by selling the collectible.

[2stout]

As this is on the scam list, your best bet is to attempt to redeem and hope for the best, if possible, don't believe you will get anywhere close to 1 BTC here due to this:  https://bitcointalk.org/index.php?topic=3315347.0;all&__cf_chl_jschl_tk__=pmd_5Ik2BGRYub8iO.HWvYnNtlbr07q7cnCGXnvjPOahMq8-1635215902-0-gqNtZGzNAjujcnBszQhl

If you are ok with way less than 1 BTC, I would say to auction or sell.

[Steeley]

I disagree that it should trade for less if the BTC verifies on the explorer. The BTC is worth its value and there is certainly a premium for this coin.

The idea of one of these coins surviving the scam and remaining loaded is nice, but the problem is the enormous long-term risk of holding the coin. If this were my coin I would peel it and hold the coin for my collection (or sell it peeled). Hodling this one seems way too risky. These are scarce coins that will sell well peeled, it just takes the risk factor off the decision tree for an interested buyer.

My 2 satoshis

Steeley

I'm adding this though, I'm not sure this particular coin is one with questionable security that received incidences of being swept.

[2stout]

I disagree that it should trade for less if the BTC verifies on the explorer. The BTC is worth its value and there is certainly a premium for this coin.

The idea of one of these coins surviving the scam and remaining loaded is nice, but the problem is the enormous long-term risk of holding the coin. If this were my coin I would peel it and hold the coin for my collection (or sell it peeled). Hodling this one seems way too risky. These are scarce coins that will sell well peeled, it just takes the risk factor off the decision tree for an interested buyer.

My 2 satoshis

Steeley

I'm adding this though, I'm not sure this particular coin is one with questionable security that received incidences of being swept.

I think you may not have considered the additional factor of 2FA= double scamtastic.  Scamtastic is enough to not touch with a 10 foot pole but a double scamtastic, cmon man!  How about you take that chance, lol.

[Steeley]

I disagree that it should trade for less if the BTC verifies on the explorer. The BTC is worth its value and there is certainly a premium for this coin.

The idea of one of these coins surviving the scam and remaining loaded is nice, but the problem is the enormous long-term risk of holding the coin. If this were my coin I would peel it and hold the coin for my collection (or sell it peeled). Hodling this one seems way too risky. These are scarce coins that will sell well peeled, it just takes the risk factor off the decision tree for an interested buyer.

My 2 satoshis

Steeley

I'm adding this though, I'm not sure this particular coin is one with questionable security that received incidences of being swept.

I think you may not have considered the additional factor of 2FA= double scamtastic.  Scamtastic is enough to not touch with a 10 foot pole but a double scamtastic, cmon man!  How about you take that chance, lol.

You're right. I don't think I totally understand the scam. So the BTC can show on the blockchain, but not be there? Or are you saying that the BTC is there but as you initiate the 2fA process there is a runaround that actually sends the funds to another account? Definitely curious to learn how this works.


I just looked up Alitin coins and remembered they do not have a hologram and private key... ah, I get it now.

Yeah, quite the dilemma thinking about how to sell this coin. I would roll the dice and see if the BTC is there. I would feel horrible, just me, if I sold this and then the next shlub found there wasn't anything there.

 

[moderator's note: consecutive posts merged]

[Abiky]

That depends on what you are going to do with it or the money. There are two scenarios that you could consider.

• You need the money urgently
• You want the "bang for my buck"

Since the second one is your choice, I think selling it loaded is the best way. You could probably fetch higher prices just by selling the collectible.

I want the best "bang for my buck" so I'll follow your advice. With Bitcoin reaching new ATHs, holding on to the coin loaded would be a big win for me in the long run. Who knows how much this coin will be worth in the future? 

As this is on the scam list, your best bet is to attempt to redeem and hope for the best, if possible, don't believe you will get anywhere close to 1 BTC here due to this:  https://bitcointalk.org/index.php?topic=3315347.0;all&__cf_chl_jschl_tk__=pmd_5Ik2BGRYub8iO.HWvYnNtlbr07q7cnCGXnvjPOahMq8-1635215902-0-gqNtZGzNAjujcnBszQhl

If you are ok with way less than 1 BTC, I would say to auction or sell.

It's a good thing I've used 2FA for the generation of the coin's private key, or I would've been "toast" by now. I don't think Infinitum Bitcoins will be able to steal the funds from the coin this way. I think I'll hold on to the coin for a little longer and see what happens. 

[ChiBitCTy]

Yes it should be redeemed and there is no debates to be had about it.  I’m the one who wrote up the scam info on the scam thread and have dealt with these pieces of human filth quite a bit. They are an all out scam, and if they haven’t already taken your bitcoin off the coins, THEY WILL. Don’t be silly, peel and move on!

[MoparMiningLLC]

there would be buyers still willing to buy the coin even redeemed - I know I would be in that group - just depends on the price.

[Abiky]

Yes it should be redeemed and there is no debates to be had about it.  I’m the one who wrote up the scam info on the scam thread and have dealt with these pieces of human filth quite a bit. They are an all out scam, and if they haven’t already taken your bitcoin off the coins, THEY WILL. Don’t be silly, peel and move on!

I guess I'm better off redeeming the coin, in order to avoid losing my Bitcoin in the long run. I could simply peel it and sell it as is. Will let you know if I decide to sell it after redeeming the balance.

there would be buyers still willing to buy the coin even redeemed - I know I would be in that group - just depends on the price.

Cool. If I decide to sell the coin redeemed, I'll hit you up over PM with a price. Thanks.