Now Here: Casascius 1000 BTC Fine Gold Coin

[dvide]

Gold-pressed bitcoin, anyone?

https://i.imgur.com/G7TCW.jpg

[1713541077]

1713541077

[1713541077]

1713541077

[1713541077]

1713541077

[naypalm]

What are you classifying the 500 BTC address located here: http://blockexplorer.com/address/1AWTGncUStas3jR2AQHrTgs7PHhyjDWmAF

Silver/Gold coin, Bar, Plated Bar?

Thanks

[smickles]

Oh wow, If only I could afford it right now!!

[casascius]

What are you classifying the 500 BTC address located here: http://blockexplorer.com/address/1AWTGncUStas3jR2AQHrTgs7PHhyjDWmAF

Silver/Gold coin, Bar, Plated Bar?

Thanks

I made a 500 BTC gold plated bar.

[naypalm]

I made a 500 BTC gold plated bar.

Awesome, thanks! 

[casascius]

He is right, I am a terrible marketer... my website is also badly in need of updating (though it works)...

though it's also fair to say that I'm hoping the gold price goes up before I start moving many of these...

[Otoh]

looking forward to the Casascius 10,000 BTC 1 Kilo gold ingot & then eventually the Casascius 100,000 BTC LMBA Good Delivery gold bar of 12.5 Kg  

ps ~ wish that I'd been in the States with the funds pre giftmas to snaffle a couple of those 1 Oz Au rounds

[Azrace]

I straightened you 7.5 BTC on request 17VgGti

accomplish your goal that got

[realnowhereman]

A quick question for Casascius:

(I appreciate that a lot of the value in your coins is commemorative rather than functional; it's not like I can put them in vending machines)

You're making some lovely products; but you seem to be making them in larger and larger denominations.  With bitcoin prices going up and up, isn't it the low denominations that are missing?

Already the 1 BTC coins are uncomfortably large for pocket change.  If we ever hit $30 again, then there will surely be space for $1, $2, $5 equivalents?  Perhaps the overheads are too high to make low denominations practical?

The above is not criticism; I'm merely interested.

[DoubleIcaras]

That thing is beautiful o.o

[casascius]

Re: smaller denominations

Making smaller denominations isn't practical for me - I have to charge a premium on par with the face value of the coin. But maybe someone else can do it more economically and I invite that.

Smaller change might be more feasible if it were issued as "X-Mark" tokens (google it) and the bitcoins held in a central bank (antithetical though to the decentralized concept of bitcoin). However it would enable easy vending and easy in-person trade since there already exists high tech acceptors for these coins that can be installed in vending machines.

[Azrace]

Hello Casascius, do not speak English, I sent you a 7.5 BTC on coins, have you received?
request 17VwgGti

Re: smaller denominations

Making smaller denominations isn't practical for me - I have to charge a premium on par with the face value of the coin. But maybe someone else can do it more economically and I invite that.

Smaller change might be more feasible if it were issued as "X-Mark" tokens (google it) and the bitcoins held in a central bank (antithetical though to the decentralized concept of bitcoin). However it would enable easy vending and easy in-person trade since there already exists high tech acceptors for these coins that can be installed in vending machines.

[realnowhereman]

Re: smaller denominations

Making smaller denominations isn't practical for me - I have to charge a premium on par with the face value of the coin. But maybe someone else can do it more economically and I invite that.

Of course your finances are your own business, I'm really only asking because it's interesting...

Surely as the dollar value of BTC goes up; the par you charge (is it called seigniorage?) measured in bitcoins comes down?  (I notice that that is already the case, that 1 BTC used to cost 1.65 BTC, and now costs 1.32 BTC -- unsurprisingly .65 BTC at $3.5 is approximately .32 at $6.5).

At $30, that's .06 BTC.  Therefore a 0.1 BTC Casascius coin (assuming a similar design to your current 1 BTC) would be 0.16 BTC?

Anyway... I'm just being pedantic.  I like the idea of your coins, but just felt that nobody is going to tip with a $30 value coin, should that price ever happen again.

[cbeast]

I'm waiting for the day when the gold coin will be in Satoshis. 

[casascius]

Just as an update, the gold spot price has risen enough to surpass my reserve, so the coin is now only $200 over gold's spot price (plus your BTC of course).

The coin is also available bare, without hologram or BTC.  Same price, just without the BTC.  Contact me if interested in this.

[PrintCoins]

A quick question for Casascius:

(I appreciate that a lot of the value in your coins is commemorative rather than functional; it's not like I can put them in vending machines)

You're making some lovely products; but you seem to be making them in larger and larger denominations.  With bitcoin prices going up and up, isn't it the low denominations that are missing?

Already the 1 BTC coins are uncomfortably large for pocket change.  If we ever hit $30 again, then there will surely be space for $1, $2, $5 equivalents?  Perhaps the overheads are too high to make low denominations practical?

The above is not criticism; I'm merely interested.

I think he is aiming more for the collector items rather than pocket change. If you are looking for small potatoes, I have a 0.50 bill, and if the price gets up to $10 I will probably be making smaller denomination bills (I have them planned all the way down to 0.01 BTC).

Mike makes an excellent product and as such it costs him a lot to produce it.

For those who feel that this locks up bitcoins, keep in mind that whatever isn't get locked in the coin is part of a free market exchange for labor and materials (in this case gold) and thus stimulates the bitcoin economy. I also imagine that many of his smaller value coins are used as gifts and thus spreads the idea of bitcoin beyond the tech savvy community.

When someone sees this gold coin on some well-to-do's person office wall, they will know that this bitcoin thing is serious and maybe they should get in on the action.

[casascius]

Someone else is welcome to make coins smaller than 1 BTC. If there is interest in a combined order of tokens for 0.5 BTC I will try to throw it together.  But I will probably stick with 1BTC coins and larger myself.

The 0.5 BTC token will probably need a smaller diameter hologram.

[DeathAndTaxes]

Someone else is welcome to make coins smaller than 1 BTC. If there is interest in a combined order of tokens for 0.5 BTC I will try to throw it together.  But I will probably stick with 1BTC coins and larger myself.

The 0.5 BTC token will probably need a smaller diameter hologram.

I will make 1 satoshi coins.  Bad news is they will cost $3 each.   Total cost 1 satoshi + $3 USD (or equivelent BTC). 
Still someday you may break even.

Seriously I think some people forget that Bitcoin has no central bank.   Printing & coining is expensive however in a central bank those costs are simply absorbed by taxpayers and not seen directly.

A penny costs about 4.2 cents to make.  I guarantee you if people had to pay 5.2 cents (1 penny in value + 4.2 cents in minting cost) to get a penny they wouldn't be minted anymore.  We likely wouldn't even mint nickles or dimes either.

[PrintCoins]

dollars cost 9c to make and last 2 yrs.

[casascius]

can you still do $200 over spot?

thanks

Only when the price of gold puts it above my stated reserve of $1850.  And in particular, only when it's going to the US.

If it needs to go outside the US, I am resorting to an undisclosed but unusual and novel way of getting it there safely, which adds a bit to the cost, and that's reflected in the posted price.