bitcoin casascius for sale eBay

10-13 07:52 - 'Selling Casascius Coin with 1 BTC for 2.2 BTC' (self.Bitcoin) by /u/mistermacoin removed from /r/Bitcoin within 16-26min

'''
Im Selling my rare and original Brass Casascius Coin loaded with 1 BTC for 2.2 BTC It is Untampered, Verifiable (casascius bitcoin analyzer) Bought from hardBTC who incidentally are selling same coin type for 3.5 BTC
I will ship UPS next business day. I can deliver the coin myself in the lower mainland of BC for a fee or you can pick it up in Kelowna BC yourself.
Own a piece of Bitcoin History and buy this Original, Cool as fuck Physical Bitcoin!
PM if interested or have a question. I will post a pick soon.
insert bitcoin here :1P2SgAP4pTsCSq57C5p1FqP4RJAr2CtnoB
'''
Selling Casascius Coin with 1 BTC for 2.2 BTC
Go1dfish undelete link
unreddit undelete link
Author: mistermacoin
submitted by removalbot to removalbot [link] [comments]

Input required. 2012 Casascius 10 BTC coin. /r/Bitcoin

Input required. 2012 Casascius 10 BTC coin. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Seeking advice for selling my 10 BTC Casascius coin /r/Bitcoin

Seeking advice for selling my 10 BTC Casascius coin /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Lightning Network Will Likely Fail Due To Several Possible Reasons

ECONOMIC CASE IS ABSENT FOR MANY TRANSACTIONS
The median Bitcoin (BTC) fee is $14.41 currently. This has gone parabolic in the past few days. So, let’s use a number before this parabolic rise, which was $3.80. Using this number, opening and closing a Lightning Network (LN) channel means that you will pay $7.60 in fees. Most likely, the fee will be much higher for two reasons:
  1. BTC fees have been trending higher all year and will be higher by the time LN is ready
  2. When you are in the shoe store or restaurant, you will likely pay a higher fee so that you are not waiting there for one or more hours for confirmation.
Let’s say hypothetically that Visa or Paypal charges $1 per transaction. This means that Alice and Carol would need to do 8 or more LN transactions, otherwise it would be cheaper to use Visa or Paypal.
But it gets worse. Visa doesn’t charge the customer. To you, Visa and Cash are free. You would have no economic incentive to use BTC and LN.
Also, Visa does not charge $1 per transaction. They charge 3%, which is 60 cents on a $20 widget. Let’s say that merchants discount their widgets by 60 cents for non-Visa purchases, to pass the savings onto the customer. Nevertheless, no one is going to use BTC and LN to buy the widget unless 2 things happen:
  1. they buy more than 13 widgets from the same store ($7.60 divided by 60 cents)
  2. they know ahead of time that they will do this with that same store
This means that if you’re traveling, or want to tip content producers on the internet, you will likely not use BTC and LN. If you and your spouse want to try out a new restaurant, you will not use BTC and LN. If you buy shoes, you will not use BTC and LN.
ROAD BLOCKS FROM INSUFFICIENT FUNDS
Some argue that you do not need to open a channel to everyone, if there’s a route to that merchant. This article explains that if LN is a like a distributed mesh network, then another problem exists:
"third party needs to possess the necessary capital to process the transaction. If Alice and Bob do not have an open channel, and Alice wants to send Bob .5 BTC, they'll both need to be connected to a third party (or a series of 3rd parties). Say if Charles (the third party) only possesses .4 BTC in his respective payment channels with the other users, the transaction will not be able to go through that route. The longer the route, the more likely that a third party does not possess the requisite amount of BTC, thereby making it a useless connection.”
CENTRALIZATION
According to this visualization of LN on testnet, LN will be centralized around major hubs. It might be even more centralized than this visualization if the following are true:
  1. Users will want to connect to large hubs to minimize the number of times they need to open/close channels, which incur fees
  2. LN’s security and usability relies on 100% uptime of relaying parties
  3. Only large hubs with a lot of liquidity will be able to make money
  4. Hubs or intermediary nodes will need to be licensed as money transmitters, centralizing LN to exchanges and banks as large hubs
What will the impact be on censorship-resistance, trust-less and permission-less?
NEED TO BE LICENSED AS MONEY TRANSMITTER
Advocates for LN seem to talk a lot about the technology, but ignore the legalities.
FinCEN defines money transmitters. LN hubs and intermediary nodes seem to satisfy this definition.
Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies
“…applicability of the regulations … to persons creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies.”
“…an administrator or exchanger is an MSB under FinCEN's regulations, specifically, a money transmitter…”
"An administrator or exchanger that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency for any reason is a money transmitter under FinCEN's regulations…”
"FinCEN's regulations define the term "money transmitter" as a person that provides money transmission services, or any other person engaged in the transfer of funds. The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means.””
"The definition of a money transmitter does not differentiate between real currencies and convertible virtual currencies.”
FinCEN’s regulations for IVTS:
"An “informal value transfer system” refers to any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form.”
“…IVTS… must comply with all BSA registration, recordkeeping, reporting and AML program requirements.
“Money transmitting” occurs when funds are transferred on behalf of the public by any and all means including, but not limited to, transfers within the United States or to locations abroad…regulations require all money transmitting businesses…to register with FinCEN."
Mike Caldwell used to accept and mail bitcoins. Customers sent him bitcoins and he mailed physical bitcoins back or to a designated recipient. There is no exchange from one type of currency to another. FinCEN told him that he needed to be licensed as money transmitter, after which Caldwell stopped mailing out bitcoins.
ARGUMENTS AGAINST NEED FOR LICENSING
Some have argued that LN does not transfer BTC until the channel is closed on the blockchain. This is not a defence, since channels will close on the blockchain.
Some have argued that LN nodes do not take ownership of funds. Is this really true? Is this argument based on a technicality or hoping for a loophole? It seems intuitive that a good prosecutor can easily defeat this argument. Even if this loophole exists, can we count on the government to never close this loophole?
So, will LN hubs and intermediary nodes need to be licensed as money transmitters? If so, then Bob, who is the intermediary between Alice and Carol, will need a license. But Bob won’t have the money nor qualifications. Money transmitters need to pay $25,000 to $1 million, maintain capital levels and are subject to KYC/AML regulations1. In which case, LN will have mainly large hubs, run by financial firms, such as banks and exchanges.
Will the banks want this? Likely. Will they lobby the government to get it? Likely.
Some may be wondering about miners. FinCEN has declared that miners are not money transmitters:
https://coincenter.org/entry/aml-kyc-tokens :
"Subsequent administrative rulings clarified several remaining ambiguities: miners are not money transmitters…"
FinCEN Declares Bitcoin Miners, Investors Aren't Money Transmitters
Some argue that LN nodes will go through Tor and be anonymous. For this to work, will all of the nodes connecting to it, need to run Tor? If so, then how likely will this happen and will all of these people need to run Tor on every device (laptop, phone and tablet)? Furthermore, everyone of these people will be need to be sufficiently tech savvy to download, install and set up Tor. Will the common person be able to do this? Also, will law-abiding nodes, such as retailers or banks, risk their own livelihood by connecting to an illegal node? What is the likelihood of this?
Some argue that unlicensed LN hubs can run in foreign countries. Not true. According to FinCEN: "“Money transmitting” occurs when funds are…transfers within the United States or to locations abroad…” Also, foreign companies are not immune from the laws of other countries which have extradition agreements. The U.S. government has sued European banks over the LIBOR scandal. The U.S. government has charged foreign banks for money laundering and two of those banks pleaded guilty. Furthermore, most countries have similar laws. It is no coincidence that European exchanges comply with KYC/AML.
Will licensed, regulated LN hubs connect to LN nodes behind Tor or in foreign countries? Unlikely. Will Amazon or eBay connect to LN nodes behind Tor or in foreign countries? Unlikely. If you want to buy from Amazon, you’ll likely need to register yourself at a licensed, regulated LN hub, which means you’ll need to provide your identification photo.
Say goodbye to a censorship-resistant, trust-less and permission-less coin.
For a preview of what LN will probably look like, look at Coinbase or other large exchanges. It’s a centralized, regulated and censored hub. Coinbase allows users to send to each other off-chain. Coinbase provides user data to the IRS and disallows users from certain countries to sell BTC. You need to trust that no rogue employee in the exchange will steal your funds, or that a bank will not confiscate your funds as banks did in Cyprus. What if the government provides a list of users, who are late with their tax returns, to Coinbase and tells Coinbase to block those users from making transactions? You need Coinbase’s permission.
This would be the antithesis of why Satoshi created Bitcoin.
NEED TO REPORT TO IRS
The IRS has a definition for “third party settlement organization” and these need to report transactions to the IRS.
Though we do not know for sure yet, it can be argued that LN hubs satisfies this definition. If this is the case, who will be willing to be LN hubs, other than banks and exchanges?
To read about the discussion, go to:
Lightning Hubs Will Need To Report To IRS
COMPLEXITY
All cryptocurrencies are complicated for the common person. You may be tech savvy enough to find a secure wallet and use cryptocurrencies, but the masses are not as tech savvy as you.
LN adds a very complicated and convoluted layer to cryptocurrencies. It is bound to have bugs for years to come and it’s complicated to use. This article provides a good explanation of the complexity. Just from the screenshot of the app, the user now needs to learn additional terms and commands:
“On Chain”
“In Channels”
“In Limbo”
“Your Channel”
“Create Channel”
“CID”
“OPENING”
“PENDING-OPEN”
“Available to Receive”
“PENDING-FORCE-CLOSE”
There are also other things to learn, such as how funds need to be allocated to channels and time locks. Compare this to using your current wallet.
Recently, LN became even more complicated and convoluted. It needs a 3rd layer as well:
Scaling Bitcoin Might Require A Whole 'Nother Layer
How many additional steps does a user need to learn?
ALL COINS PLANNING OFF-CHAIN SCALING ARE AT RISK
Bitcoin Segwit, Litecoin, Vertcoin and possibly others (including Bitcoin Cash) are planning to implement LN or layer 2 scaling. Ethereum is planning to use Raiden Network, which is very similar to LN. If the above is true about LN, then the scaling roadmap for these coins is questionable at best, nullified at worst.
BLOCKSTREAM'S GAME PLAN IS ON TRACK
Blockstream employs several of the lead Bitcoin Core developers. Blockstream has said repeatedly that they want high fees. Quotes and source links can be found here.
Why is Blockstream so adamant on small blocks, high fees and off-chain scaling?
Small blocks, high fees and slow confirmations create demand for off-chain solutions, such as Liquid. Blockstream sells Liquid to exchanges to move Bitcoin quickly on a side-chain. LN will create liquidity hubs, such as exchanges, which will generate traffic and fees for exchanges. With this, exchanges will have a higher need for Liquid. This will be the main way that Blockstream will generate revenue for its investors, who invested $76 million. Otherwise, they can go bankrupt and die.
One of Blockstream’s investors/owners is AXA. AXA’s CEO and Chairman until 2016 was also the Chairman of Bilderberg Group. The Bilderberg Group is run by bankers and politicians (former prime ministers and nation leaders). According to GlobalResearch, Bilderberg Group wants “a One World Government (World Company) with a single, global marketplace…and financially regulated by one ‘World (Central) Bank’ using one global currency.” LN helps Bilderberg Group get one step closer to its goal.
Luke-Jr is one of the lead BTC developers in Core/Blockstream. Regulation of BTC is in-line with his beliefs. He is a big believer in the government, as he believes that the government should tax you and the “State has authority from God”. In fact, he has other radical beliefs as well:
So, having only large, regulated LN hubs is not a failure for Blockstream/Bilderberg. It’s a success. The title of this article should be changed to: "Lightning Will Fail Or Succeed, Depending On Whether You Are Satoshi Or Blockstream/Bilderberg".
SIGNIFICANT ADVANCEMENTS WITH ON-CHAIN SCALING
Meanwhile, some coins such as Ethereum and Bitcoin Cash are pushing ahead with on-chain scaling. Both are looking at Sharding.
Visa handles 2,000 transactions per second on average. Blockstream said that on-chain scaling will not work. The development teams for Bitcoin Cash have shown significant on-chain scaling:
1 GB block running on testnet demonstrates over 10,000 transactions per second:
"we are not going from 1MB to 1GB tomorrow — The purpose of going so high is to prove that it can be done — no second layer is necessary”
"Preliminary Findings Demonstrate Over 10,000 Transactions Per Second"
"Gigablock testnet initiative will likely be implemented first on Bitcoin Cash”
Peter Rizun, Andrew Stone -- 1 GB Block Tests -- Scaling Bitcoin Stanford At 13:55 in this video, Rizun said that he thinks that Visa level can be achieved with a 4-core/16GB machine with better implementations (modifying the code to take advantage of parallelization.)
Bitcoin Cash plans to fix malleability and enable layer 2 solutions:
The Future of “Bitcoin Cash:” An Interview with Bitcoin ABC lead developer Amaury Séchet:
"fixing malleability and enabling Layer 2 solutions will happen”
However, it is questionable if layer 2 will work or is needed.
GOING FORWARD
The four year scaling debate and in-fighting is what caused small blockers (Blockstream) to fork Bitcoin by adding Segwit and big blockers to fork Bitcoin into Bitcoin Cash. Read:
Bitcoin Divorce - Bitcoin [Legacy] vs Bitcoin Cash Explained
It will be interesting to see how they scale going forward.
Scaling will be instrumental in getting network effect and to be widely adopted as a currency. Whichever Coin Has The Most Network Effect Will Take All (Or Most) (BTC has little network effect, and it's shrinking.)
The ability to scale will be key to the long term success of any coin.
submitted by curt00 to btc [link] [comments]

Top 5 Rare Facts about Bitcoin Cryptocurrency

Top 5 Rare Facts about Bitcoin Cryptocurrency
Most crypto enthusiasts must have probably come across unusual stories about cryptocurrencies. For instance, how an American Laszlo Hanyecz bought a pizza for 10 000 coins in 2010. In this article we will touch upon 5 unbelievable facts about BTC cryptocurrency.
  1. Launch of a game about mining digital currencies
A Byelorussian company “Boolba Entertainment” will launch a mining activity simulator in 2019. Within the game a crypto ecosystem will be created where the player will have to build their own farm, pay for electricity, buy goods for digital means and so on.
If the virtual miner won’t be able to solve the game’s tasks, he may choose to sell their own kidney – an option kindly provided by the game developers.
  1. Bitcoins can be earned by simply playing Counter Strike
Indeed, the dream of lots of school kids, spending hours behind the computer and playing Counter Strike, came true. Thanks to the most famous cryptocurrency and Leetcoin project that is currently being beta-tested, it is possible now to play the favorite game whilst earning bitcoin.
That is our top 5 unusual facts about bitcoin cryptocurrency. Comment down below which fact you found most interesting. Also, you can tell about your unusual situations connected with digital currencies.
  1. An attempt to create physical BTC coins
Casascius is a physical equivalent of bitcoins. The tokens are colored yellow and have a Bitcoin sign. It is them you see in the pictures that are to do with digital currencies on the internet.
These items also serve well as a cold storage for cryptocurrencies. Each coin has a "private key" to the digital equivalent on the inside, underneath the hologram. Unfortunately, the product didn’t gain popularity among crypto enthusiasts.
  1. Multiple-fold increase of bitcoin price
BTC is the fastest growing asset in the world. During the period between 2010 and 2017 its price has increased 879 999-fold. Nonetheless, the fast growth in price also has negative sides. Thus, the largest drop in price of this crypto-asset took place in the middle of spring 2013. The drop in price constituted 80 per cent.
1.Lamborghini’s trust in bitcoins
You must be familiar with such a popular auto company as Lamborghini. So, this auto corporation is one of the first organizations that started accepting bitcoins officially when making deals with their clients.
The torch was taken up by the company Skycraft Airplanes which specializes in producing sport airplanes.
However, the interest to bitcoins from large companies did not stop there. There’s information that soon BTC coins will even be used as payment for space flights. For instance, such are the plans of Orion Span project.
That is our top 5 unusual facts about bitcoin cryptocurrency. Comment down below which fact you found most interesting. Also, you can tell about your unusual situations connected with digital currencies.


https://preview.redd.it/72cfgqbl5nc31.jpg?width=1863&format=pjpg&auto=webp&s=65137cf262af94ea3bea35659a96df64c98c4b3d
submitted by bestchange_pr to bestchange [link] [comments]

Lightning Network Will Likely Fail Due To Several Possible Reasons

ECONOMIC CASE IS ABSENT FOR MANY TRANSACTIONS
The median Bitcoin (BTC) fee is $14.41 currently. This has gone parabolic in the past few days. So, let’s use a number before this parabolic rise, which was $3.80. Using this number, opening and closing a Lightning Network (LN) channel means that you will pay $7.60 in fees. Most likely, the fee will be much higher for two reasons:
  1. BTC fees have been trending higher all year and will be higher by the time LN is ready
  2. When you are in the shoe store or restaurant, you will likely pay a higher fee so that you are not waiting there for one or more hours for confirmation.
Let’s say hypothetically that Visa or Paypal charges $1 per transaction. This means that Alice and Carol would need to do 8 or more LN transactions, otherwise it would be cheaper to use Visa or Paypal.
But it gets worse. Visa doesn’t charge the customer. To you, Visa and Cash are free. You would have no economic incentive to use BTC and LN.
Also, Visa does not charge $1 per transaction. They charge 3%, which is 60 cents on a $20 widget. Let’s say that merchants discount their widgets by 60 cents for non-Visa purchases, to pass the savings onto the customer. Nevertheless, no one is going to use BTC and LN to buy the widget unless 2 things happen:
  1. they buy more than 13 widgets from the same store ($7.60 divided by 60 cents)
  2. they know ahead of time that they will do this with that same store
This means that if you’re traveling, or want to tip content producers on the internet, you will likely not use BTC and LN. If you and your spouse want to try out a new restaurant, you will not use BTC and LN. If you buy shoes, you will not use BTC and LN.
ROAD BLOCKS FROM INSUFFICIENT FUNDS
Some argue that you do not need to open a channel to everyone, if there’s a route to that merchant. This article explains that if LN is like a distributed mesh network, then another problem exists:
"third party needs to possess the necessary capital to process the transaction. If Alice and Bob do not have an open channel, and Alice wants to send Bob .5 BTC, they'll both need to be connected to a third party (or a series of 3rd parties). Say if Charles (the third party) only possesses .4 BTC in his respective payment channels with the other users, the transaction will not be able to go through that route. The longer the route, the more likely that a third party does not possess the requisite amount of BTC, thereby making it a useless connection.”
CENTRALIZATION
According to this visualization of LN on testnet, LN will be centralized around major hubs. It might be even more centralized than this visualization if the following are true:
  1. Users will want to connect to large hubs to minimize the number of times they need to open/close channels, which incur fees
  2. LN’s security and usability relies on 100% uptime of relaying parties
  3. Only large hubs with a lot of liquidity will be able to make money
  4. Hubs or intermediary nodes will need to be licensed as money transmitters, centralizing LN to exchanges and banks as large hubs
What will the impact be on censorship-resistance, trust-less and permission-less?
NEED TO BE LICENSED AS MONEY TRANSMITTER
Advocates for LN seem to talk a lot about the technology, but ignore the legalities.
FinCEN defines money transmitters. LN hubs and intermediary nodes seem to satisfy this definition.
Application of FinCEN's Regulations to Persons Administering, Exchanging, or Using Virtual Currencies
“…applicability of the regulations … to persons creating, obtaining, distributing, exchanging, accepting, or transmitting virtual currencies.”
“…an administrator or exchanger is an MSB under FinCEN's regulations, specifically, a money transmitter…”
"An administrator or exchanger that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency for any reason is a money transmitter under FinCEN's regulations…”
"FinCEN's regulations define the term "money transmitter" as a person that provides money transmission services, or any other person engaged in the transfer of funds. The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means.””
"The definition of a money transmitter does not differentiate between real currencies and convertible virtual currencies.”
FinCEN’s regulations for IVTS:
"An “informal value transfer system” refers to any system, mechanism, or network of people that receives money for the purpose of making the funds or an equivalent value payable to a third party in another geographic location, whether or not in the same form.”
“…IVTS… must comply with all BSA registration, recordkeeping, reporting and AML program requirements.
“Money transmitting” occurs when funds are transferred on behalf of the public by any and all means including, but not limited to, transfers within the United States or to locations abroad…regulations require all money transmitting businesses…to register with FinCEN."
Mike Caldwell used to accept and mail bitcoins. Customers sent him bitcoins and he mailed physical bitcoins back or to a designated recipient. There is no exchange from one type of currency to another. FinCEN told him that he needed to be licensed as money transmitter, after which Caldwell stopped mailing out bitcoins.
ARGUMENTS AGAINST NEED FOR LICENSING
Some have argued that LN does not transfer BTC until the channel is closed on the blockchain. This is not a defence, since channels will close on the blockchain.
Some have argued that LN nodes do not take ownership of funds. Is this really true? Is this argument based on a technicality or hoping for a loophole? It seems intuitive that a good prosecutor can easily defeat this argument. Even if this loophole exists, can we count on the government to never close this loophole?
So, will LN hubs and intermediary nodes need to be licensed as money transmitters? If so, then Bob, who is the intermediary between Alice and Carol, will need a license. But Bob won’t have the money nor qualifications. Money transmitters need to pay $25,000 to $1 million, maintain capital levels and are subject to KYC/AML regulations1. In which case, LN will have mainly large hubs, run by financial firms, such as banks and exchanges.
Will the banks want this? Likely. Will they lobby the government to get it? Likely.
Some may be wondering about miners. FinCEN has declared that miners are not money transmitters:
https://coincenter.org/entry/aml-kyc-tokens :
"Subsequent administrative rulings clarified several remaining ambiguities: miners are not money transmitters…"
FinCEN Declares Bitcoin Miners, Investors Aren't Money Transmitters
Some argue that LN nodes will go through Tor and be anonymous. For this to work, will all of the nodes connecting to it, need to run Tor? If so, then how likely will this happen and will all of these people need to run Tor on every device (laptop, phone and tablet)? Furthermore, everyone of these people will be need to be sufficiently tech savvy to download, install and set up Tor. Will the common person be able to do this? Also, will law-abiding nodes, such as retailers or banks, risk their own livelihood by connecting to an illegal node? What is the likelihood of this?
Some argue that unlicensed LN hubs can run in foreign countries. Not true. According to FinCEN: "“Money transmitting” occurs when funds are…transfers within the United States or to locations abroad…” Also, foreign companies are not immune from the laws of other countries which have extradition agreements. The U.S. government has sued European banks over the LIBOR scandal. The U.S. government has charged foreign banks for money laundering and two of those banks pleaded guilty. Furthermore, most countries have similar laws. It is no coincidence that European exchanges comply with KYC/AML.
Will licensed, regulated LN hubs connect to LN nodes behind Tor or in foreign countries? Unlikely. Will Amazon or eBay connect to LN nodes behind Tor or in foreign countries? Unlikely. If you want to buy from Amazon, you’ll likely need to register yourself at a licensed, regulated LN hub, which means you’ll need to provide your identification photo.
Say goodbye to a censorship-resistant, trust-less and permission-less coin.
For a preview of what LN will probably look like, look at Coinbase or other large exchanges. It’s a centralized, regulated and censored hub. Coinbase allows users to send to each other off-chain. Coinbase provides user data to the IRS and disallows users from certain countries to sell BTC. You need to trust that no rogue employee in the exchange will steal your funds, or that a bank will not confiscate your funds as banks did in Cyprus. What if the government provides a list of users, who are late with their tax returns, to Coinbase and tells Coinbase to block those users from making transactions? You need Coinbase’s permission.
This would be the antithesis of why Satoshi created Bitcoin.
NEED TO REPORT TO IRS
The IRS has a definition for “third party settlement organization” and these need to report transactions to the IRS.
Though we do not know for sure yet, it can be argued that LN hubs satisfies this definition. If this is the case, who will be willing to be LN hubs, other than banks and exchanges?
To read about the discussion, go to:
Lightning Hubs Will Need To Report To IRS
COMPLEXITY
All cryptocurrencies are complicated for the common person. You may be tech savvy enough to find a secure wallet and use cryptocurrencies, but the masses are not as tech savvy as you.
LN adds a very complicated and convoluted layer to cryptocurrencies. It is bound to have bugs for years to come and it’s complicated to use. This article provides a good explanation of the complexity. Just from the screenshot of the app, the user now needs to learn additional terms and commands:
“On Chain”
“In Channels”
“In Limbo”
“Your Channel”
“Create Channel”
“CID”
“OPENING”
“PENDING-OPEN”
“Available to Receive”
“PENDING-FORCE-CLOSE”
There are also other things to learn, such as how funds need to be allocated to channels and time locks. Compare this to using your current wallet.
Recently, LN became even more complicated and convoluted. It needs a 3rd layer as well:
Scaling Bitcoin Might Require A Whole 'Nother Layer
How many additional steps does a user need to learn?
ALL COINS PLANNING OFF-CHAIN SCALING ARE AT RISK
Bitcoin Segwit, Litecoin, Vertcoin and possibly others (including Bitcoin Cash) are planning to implement LN or layer 2 scaling. Ethereum is planning to use Raiden Network, which is very similar to LN. If the above is true about LN, then the scaling roadmap for these coins is questionable at best, nullified at worst.
BLOCKSTREAM'S GAME PLAN IS ON TRACK
Blockstream employs several of the lead Bitcoin Core developers. Blockstream has said repeatedly that they want high fees. Quotes and source links can be found here.
Why is Blockstream so adamant on small blocks, high fees and off-chain scaling?
Small blocks, high fees and slow confirmations create demand for off-chain solutions, such as Liquid. Blockstream sells Liquid to exchanges to move Bitcoin quickly on a side-chain. LN will create liquidity hubs, such as exchanges, which will generate traffic and fees for exchanges. With this, exchanges will have a higher need for Liquid. This will be the main way that Blockstream will generate revenue for its investors, who invested $76 million. Otherwise, they can go bankrupt and die.
One of Blockstream’s investors/owners is AXA. AXA’s CEO and Chairman until 2016 was also the Chairman of Bilderberg Group. The Bilderberg Group is run by bankers and politicians (former prime ministers and nation leaders). According to GlobalResearch, Bilderberg Group wants “a One World Government (World Company) with a single, global marketplace…and financially regulated by one ‘World (Central) Bank’ using one global currency.” LN helps Bilderberg Group get one step closer to its goal.
Luke-Jr is one of the lead BTC developers in Core/Blockstream. Regulation of BTC is in-line with his beliefs. He is a big believer in the government, as he believes that the government should tax you and the “State has authority from God”. In fact, he has other radical beliefs as well:
So, having only large, regulated LN hubs is not a failure for Blockstream/Bilderberg. It’s a success. The title of this article should be changed to: "Lightning Will Fail Or Succeed, Depending On Whether You Are Satoshi Or Blockstream/Bilderberg".
SIGNIFICANT ADVANCEMENTS WITH ON-CHAIN SCALING
Meanwhile, some coins such as Ethereum and Bitcoin Cash are pushing ahead with on-chain scaling. Both are looking at Sharding.
Visa handles 2,000 transactions per second on average. Blockstream said that on-chain scaling will not work. The development teams for Bitcoin Cash have shown significant on-chain scaling:
1 GB block running on testnet demonstrates over 10,000 transactions per second:
"we are not going from 1MB to 1GB tomorrow — The purpose of going so high is to prove that it can be done — no second layer is necessary”
"Preliminary Findings Demonstrate Over 10,000 Transactions Per Second"
"Gigablock testnet initiative will likely be implemented first on Bitcoin Cash”
Peter Rizun, Andrew Stone -- 1 GB Block Tests -- Scaling Bitcoin Stanford At 13:55 in this video, Rizun said that he thinks that Visa level can be achieved with a 4-core/16GB machine with better implementations (modifying the code to take advantage of parallelization.)
Bitcoin Cash plans to fix malleability and enable layer 2 solutions:
The Future of “Bitcoin Cash:” An Interview with Bitcoin ABC lead developer Amaury Séchet:
"fixing malleability and enabling Layer 2 solutions will happen”
However, it is questionable if layer 2 will work or is needed.
GOING FORWARD
The four year scaling debate and in-fighting is what caused small blockers (Blockstream) to fork Bitcoin by adding Segwit and big blockers to fork Bitcoin into Bitcoin Cash. Read:
Bitcoin Divorce - Bitcoin [Legacy] vs Bitcoin Cash Explained
It will be interesting to see how they scale going forward.
Scaling will be instrumental in getting network effect and to be widely adopted as a currency. Whichever Coin Has The Most Network Effect Will Take All (Or Most) (BTC has little network effect, and it's shrinking.)
The ability to scale will be key to the long term success of any coin.
submitted by curt00 to Bitcoincash [link] [comments]

My father's explanation to my grandfather

I gave my grandfather a 100 BTC Casascius bar for Christmas back when BTC was around $10. It's worth a bit more now. Needless to say, my grandfather checks the ticker several times a day, and keeps up to date on Bitcoin news. He thinks it's really "nifty."
He was concerned about the crazy volatility over the past 48 hours. My father sent him the following response, which I wanted to share...
Here's an analogy. Bitcoin is often compared to the wild west, and it's a good comparison. Think about the wild west. You had all kinds of craziness going on. Millions of people heading westward. Indian tribes massacring each other and the settlers. Cavalry sweeping in and rounding up the Indians. Bad guys shooting it out in bank robberies. Cattleman at war with sheepherders. The transcontinental railway changing the paradigm constantly. And it goes crazy all over again when gold is discovered. And every few days there's a buffalo stampede that wipes out everything. The only thing you could count on was that civilization kept expanding, in fits and starts, but inexorably. Same thing here.
The beauty and magic of bitcoin is precisely that it is so un-regulated and so free-market. That's why the market loves bitcoin. It's the wild west! It's freedom! And, yes, it's crazy. But in a good way.
Don't like the West? Don't like the craziness? Stay in Boston. :)
submitted by evoorhees to Bitcoin [link] [comments]

There is a 30 day comment period for the current Bitlicense proposal. Unless there are substantial changes, New York will be a Bitcoin dead zone

The 30 day comment period starts next week. Bitlicense, as proposed will force most companies that store customer BTC deposits to block New York IP addresses. There is very little chance that Lawsky will make any further changes to it, so what will this mean for Bitcoin around the world?
EDIT, as a reminder:
This is how the Bitlicense will affect Bitcoin businesses, taken from here:
http://www.reddit.com/Bitcoin/comments/2aycxs/hi_this_is_ben_lawsky_at_nydfs_here_are_the/cizyqyz
(I've added modifications in light of changes in the new proposal and information that I found was missing in the original write-up)
Entities are considered dealing in virtual currencies if:
.. to any resident in New York. Web services, even those incorporated overseas, must either comply or block access for NY users. (200.2n)
Entities 'dealing in virtual currency' must:
Added:
The (only?) good news: Merchants do not need a BitLicense to accept Bitcoin for a good or service. (200.3c2).
> This post was created for general guidance, and does not constitute legal advice. You should not act upon the information contained in this publication without obtaining specific advice from a professional. No representation or warranty (expressed or implied) is given as to the accuracy or completeness of the information contained in this post.
EDIT 2, targetpro suggested expressing any concerns you may have about the proposed regs to the NY Dept. of Finan. Services:
submitted by aminok to Bitcoin [link] [comments]

Hi Departments of Financial Services, Here is the proposed Virtual Currency Regulator Application

In developing this regulatory framework, we have sought to strike an appropriate balance that helps protect individuals, consumers, businesses, services, and innovators, while rooting out unscrupulous and over-reaching regulatory activity. These regulations include provisions to help safeguard customer assets, protect against unwarranted account freezes or seizures, and prevent the regulatory abuse of virtual currencies from unethical activity, such as widespread warrantless monitoring, disclosure of private information, dictation as to how users engaged in P2P or non-fiat transfers can spend their money, and scapegoating.
We recognize that not everyone in the regulatory community will be pleased about the prospect of what could be seen as a barrier to their regulatory authority. Ultimately, though, we believe that setting up common sense rules of the road is vital to the long-term future of the virtual currency industry, as well as the safety and soundness of customer assets. (We think the situation in New York, for example, made that very clear.) Moreover, given that P2P decentralized networks are stateless, headless, community consensus driven bodies, we also have a moral obligation to move forward on this framework.
Entities are considered "interested in regulating virtual currencies" if:
... in a manner that would affect any current or prospective member of the human race.
Entities "interested in regulating virtual currencies" must:
As the first decentralized community to put forward specially tailored rules for virtual currency regulators – continued public feedback will be an important part of finalizing this regulatory framework. We look forward to carefully and thoughtfully reviewing public comments on our proposal.
submitted by Try_AgainNY to Bitcoin [link] [comments]

My bitcoin value has surpassed my decade long stock account

Throwaway account because I'm revealing more than I want tied to my primary account.
I'll put the TL;DR at the top.
TL;DR: Apparently, I'm well off and 2 years of bitcoins are worth more than 10 years of stock market investment.
I'm nearly 50 years old. A few years out of college and I just barely broke $20k salary. That was worth more than $20k today, but was still a lousy wage with college loan debt. I briefly (1.5 years) had a dotcom job at the turn of the millineum making more than I do now, but I had never had money like that before and boosted the economy instead of putting any aside. I did get some nice toys, though.
Add on another 1.5 years of unemployment, living off my wife's meager salary and a few odd under-the-table jobs, and I finally landed a decent paying job again. Nothing like the dotcom days, but close. However, I'd learned we could live on much less and I wanted a cushion. I dumped tons into my 401k, my savings account and opened a Scottrade account. A little money goes each month to savings and Scottrade.
Roughly ten years later, my 401k is about 3 times my annual income. The Scottrade account is about 30% of it.
Two years ago, I heard about bitcoin on Slashdot. It sounded interesting. I started mining on my son's gaming machine, which meant it was only mining when my son wasn't playing games and if he remembered to start the miner when he was done.
I mined solo for a few days, and quickly joined a mining pool. I was getting a bitcoin every three or four days initially. That didn't last long.
I opened a MtGox account, added some cash and purchased btc almost at the height of the 2011 spike.
I felt like an idiot.
I bought some Casascius coins. I left my MtGox account alone.
This was also around the time the 99% protests were going on. I felt very sympathetic. I remember in reading about the protests, I stumbled across a site that showed what percentage people were based on annual income. With mine and my wife's income, I was above the 90th percentile and below the 95th. I remember the horror and disbelief I felt.
Througout it all, I continued mining. I got lucky during the early 2013 spike and sold some of the MtGox stuff I'd had sitting there. I also got a high end SLR camera at bitcoinstore.com almost at the peak. I was feeling pretty good.
I bought a ButterflyLabs Jalapeno with bitcoins just before that first 2013 spike. I also stopped even trying to mine with a graphics card soon after that because it made no sense. I did eventually get delivery of the Jalapeno. It's earned almost .68 bitcoins. Don't ask what it cost in bitcoins, because I don't remember and I don't want to know.
After realizing my MtGox profits couldn't be pulled out in dollars in any reasonable timeframe, I converted them to bitcoins and pulled them out. I got more bitcoins than I sold them for, but not by much.
So, now I own bitcoins in the high 2 digits, about a third of them are still in physical Casascius coins. I only have an account on MtGox, so I have no real way of converting any of them to cash. I still have $100 sitting in the MtGox account, which I should have converted into bitcoins and pulled out long ago, but I'm frustrated by the premium bitcoins require in USD on MtGox.
For nearly ten years, I've been putting money in my Scottrade account. I saw the collapse in 2008 and mostly held. I bought bank stocks at that time and made a killing. That killing was offset by the REITs I'd invested in before the crash.
In ten years of regular transfers to Scottrade and investment that has gotten better as I've gotten older and more cynical, I've accumulate about 30% of my annual income.
In the last few days, even with the purchase of a cool SLR and the cut involved in Casascius coin purchases, my double-digit bitcoin ownership has now surpassed my Scottrade account in value. I don't have an easy way of converting that bitcoin to USD, but I'm also not concerned about that because I think that easy methods will exist soon.
I fully expect that my bitcoins will be worth less in the near future. However, I believe in the long term, they'll be worth more and that I'll have a number of easier possibilities for converting them to USD if I want to.
I also believe the analogies to the early WWW are flawed. I think analogies to the IP protocol are more apt and that we've only begun to imagine the possibilities.
I'm in it for the long haul. They'll either be worth nothing or much more than now. And, if I add up my electricity costs and the small investment I made during the spike in 2011, I'm still ahead of the game because I have an SLR camera that my wife would never have let me buy with cash.
I'm already ahead of the game and I think the game hasn't even started.
EDIT: Grammar
submitted by throaway419 to Bitcoin [link] [comments]

It Seems That I Am Stupid Because I Am Not Selling My Casascius Coins. Here Is Why:

Inspired by THIS I recently asked myself why am I holding to my (unopened) Casascius Coin in the first place?
Why should I NOT sell my Casascius coins?
At the moment, when I sell a 1 BTC Casascius coin (unopend untampered hologram) I will get about 2 BTC worth of fiat (=$2000) because it is a collectors item. That's a premium of $1000 or 100% over the face value.
However, if Bitcoin keeps on increasing in price, will the 1BTC Casascius coin keep the 100% premium? Will it have a $10,000 premium if 1 BTC = $10,000? I do not think so, I think in that case the premium will be $2000 or $5000 but certainly the premium will not increase at the same pace as the price itself. And thinking even further, will it have a $100,000 premium if 1 BTC = $100,000? No, in all probability not. Will it have a $1,000,000 premium if 1 BTC = $1,000,000? Almost certainly not. Why not? Because there is a certain risk for the buyer of my Casascius coin that I have read out the secret key in an advanced manner without violating the hologram. So the buyer is risking a lot when buying a $1,000,000 coin from me - he is risking $1,000,000! So the premium might even become negative when I am trying to sell my 1BTC Casascius coin at a BTC price of $1,000,000. Today this is different. Today 1BTC is only $1000, and the buyer is only risking $1000, and he also knows that the effort for me, the seller, to engage in an advanced and costly method to read out the private key is probably not worthwhile for only $1000. $1000 is no life changing amount. But $1,000,000 is.
So it is absolutely plausible that the Casascius coin premium percentage will decrease as Bitcoin price increases.
So the Casascius premium is going to decrease (in percent of BTC face value, not in fiat units) as BTC price increases. So if I assume that BTC price will rise, the best I can do is to sell my Casascius 1 BTC coin now and invest the $2000 into two "proper" digital bitcoins (2BTC), thereby doubling my BTC holdings.
Only if Bitcoin price drops (maybe from $1000 to $100 and further down to $10) the premium of Casascius coin (in percent of face BTC value) is going to increase, for the same reasons, just inversely.
So, it seems that ...:
Why am I still keeping my Casascius coins then? Because I like having them. Stupid me! Strange... I thought I am rational, but I am not.
Update: From the discussions it turns out there is some pragmatic justification for keeping the casascius coins: The strategy "keep the Casascius coin" is a middle path between the two alternative strategies "sell it now and buy pure bitcoins from the revenues" on the one hand, and "sell it now and keep the fiat" on the other hand. In both cases, case of rising or case of falling BTC prices, the strategy "keep the Casascius coin" turns out to be the middle path of the three strategies, so it is not that bad after all.
submitted by Amichateur to Bitcoin [link] [comments]

Do you know about 1 oz Silver 1 BTC Casascius coins?

OgNasty (of nastyfans.org fame) has a group buy at bitcointalk.org
https://bitcointalk.org/index.php?topic=246650.0
1 Oz Silver 1 BTC coins are available for 2.15 BTC in this group buy. I think it's an excellent deal, and I picked up a few. I really believe others on reddit would buy one if they new more about it, so here's my plan:
I will use the reddit bitcointip bot to give 0.01 BTC to my favorite comment for every 10 votes this post gets, up to a total of 100 upvotes (0.10 BTC).
You can learn more about Mike Caldwell's casascius physcial bitcoins here: https://www.casascius.com/
While it's true that they are technically a novelty, they're a popular novelty and they have great keepsake or resale potential.
I should point out that the great thing about OgNasty's group buy, is that it saves you 0.75 BTC off the cost of a coin. If you go to casascius.com and buy one, you'll pay 2.5 + 0.4 (shipping) for a total of 2.9 BTC.
submitted by huanix to Bitcoin [link] [comments]

Selling some Physical Bitcoins & other cryptos! Fair Prices!

Verification and More Pictures
Pictures of Lealana Brass, I forgot to add some to the main album
Hey guys, I have a huge collection of physical Bitcoins & other physical cryptos, and I'm selling a few extras just to be able to buy 1 or more coins still on my "Wish List." I love all coins in general, but these are my favorite to collect followed by old world silver coinage & Norfed Liberty Dollars. I haven't sold much on Reddit yet, but I have a 100% positive feedback eBay account and also a lot of positive trust feedback on Bitcointalk.org.
eBay Account and BitcoinTalk profile (click on "trust" to see feedback)
Added some brief information about the coins in italics
For Sale:
MicroSoul's original coins were minted in the UK. Low mintage, but not sure off the top of my head what the numbers were. They released a couple series and some in .999 fine silver.
These coins came from Crypto Imperator in Spain. They have released these 10,000 Dogecoins made of brass- total mintage of 500, and did a limited run of only 25 coins in .999 fine silver containing it's face value of 100,000 Dogecoins, and are currently working on a run of only 10 .999 fine gold 1,000,000 Dogecoins. There are 5 left of 10, check here for more info. They also made 1 physical Bitcoin, all are very finely made beautiful coins. CI's coins are in no way related to the Silver bullion Dogecoin coins you may have seen.
bhcoins come from a pair in Argentina. They have released 4 different series in the past few years. These coins are from Series 3 and a mintage of only 200, with the first 20 reserved by the creators.
Cryptolator is based in Canada but minted at the esteemed Northwest Territorial Mint in Washington state. Their only design so far was the Unchained Series, minted in .999 fine silver, copper, Merlin Gold, antique copper, and antique brass. These copper coins listed are from a limited mintage of 500. The the coin is minted with proof-like quality and features the "Unchained Series" design, according to the maker: "The artist's design on the face of the coin represents us breaking free from the "chains that bind us" to the banks. In front of the bank, there is a pig and a dog sitting (the pig representing a banker & the dog a businessman), and the people running from the collapsing bank are considered as the sheep that are freeing themselves. This is a reference to the Pink Floyd album, Animals. The crying eye at the top of the bank is the Illuminati eye that is now closed and crying, the sad "pig" bankers who have lost from the liberating peer-to-peer money system that is Bitcoin."
Lealana is based in Hawaii but these coins were minted at the Northwest Territorial mint in Washington state. They are most known for their Lealana Litecoins, which were minted in silver and early followers after the trailblazing Casascius Bitcoins
These Lealana coins are the "Buyer Funded" model, and do not contain or come with any digital Bitcoin value, but any amount of Bitcoin can be loaded onto them for cold storage. They have a unique Bitcoin address assigned to them with private key inside. In this case the denomination or face value of 0.1 Bitcoin is just a suggestion; any amount of BTC can be sent to the coins
All coins are in mint condition (have never been handled) or the condition they were in coming from their maker. Not really in any hurry to sell these coins and don't need the money, so probably won't come down a ton on price, but can negotiate discounts if buying a few. I feel like these prices are pretty fair based off of current and past sales of similar coins.
Payment Info:
Will take payment in Bitcoin or PayPal Friends & Family (leave note line blank), and/or will accept PayPal G&S +3% from trusted members with positive feedback.
Shipping Info:
Free standard tracked shipping for US residents (this will be a small bubble mailer with First Class postage) or you can add $3 and I will bump you up to 2-Day Priority with a Small Flat Rate Box.
Willing to ship nearly anywhere in the world. I will always try to ship for as fair a price as possible, so if you're outside the US and want to buy, ask for a quote and I will see what options we have.
Will Ship Same Day Payment is Received 99% of the Time!
Any Questions Just Ask! Thanks
About Physical Bitcoins/other cryptos:
In 2011 a man named Mike Caldwell, an avid supporter of cryptography and Bitcoin, had an idea to mint physical coins that could represent digital Bitcoin value in a more conventional way, so that more people would be able to conceptualize and understand this new digital cryptocurrency technology. He came up with a way to mint a physical coin that actually contained the digital Bitcoin value it represented. On one side of the coin, he had a recessed groove stamped into it. He then securely and safely generated new Bitcoin address public & private keys, printing the private keys (needed to spend the funds) and placing them in the recessed groove. He then had complex & layered tamper-evident holograms created to cover the private key, which served 2 purposes: 1- these complex holograms made it harder to ever create a believable counterfeit of his coins, and 2- when the holograms were peeled back exposing the private key needed to spend the funds, it left a honeycomb pattern behind, which would instantly tell someone considering buying one on the 2nd market whether the coin still contained its valuable BTC funds, or if it had been spent. He called his coins Casascius physical Bitcoins, and they proved to be very popular, with several different denominations and Series released over a couple years' time. Today these coins are highly valued & sought after collectors' items. Many individuals, groups, and companies followed suit in the years that followed, designing and minting their own physical crypto coins. And that's where we are today with these coins I have for sale. :) I tried my best to explain how physical Bitcoins work in a limited space, but it is hard to fully summarize such a topic in so few words, so if you have any questions just ask!
submitted by snarlpill to Coins4Sale [link] [comments]

Help Numisalis Physical Bitcoin get off the ground

Hey everyone! I just started an Indiegogo campaign to get my company, Numisalis, off the ground. I want to make a physical bitcoin that addresses many of the issues I see in the physical bitcoin market.
Indiegogo campaign
Numisalis web site
The overarching issue I see is that physical bitcoin are not tradable. They are collector's items, they are non-durable, or they are both. Here is a list of problems and what I am doing to resolve them:
I have been involved with Bitcoin for over 2 1/2 years. I am a huge advocate and I think the protocol is pretty great as it is. But I also believe physical bitcoin is valuable and extremely healthy for the bitcoin ecosystem.
I have a friend who purchased a bitcoin from me. He asked if he could just take one of my Casascius coins. I told him it would cost him a lot more than he paid me. He is a programmer but does not want to manage his own digital assets and I really can't blame him. This project is a response to that situation. I want people like him to have a reasonable option for making physical transactions.
Why am I doing an Indiegogo campaign for fiat? I thought about fundraising with bitcoin. I don't mind the "hassle" of converting bitcoin to fiat to pay suppliers who don't take bitcoin, but delayed payment does not work well with bitcoin. If the price drops and I can't pay for supplies and the project is sidelined that is not fair to my customers. If the price spikes I don't think it is fair to my customers if I profit off my luck at their expense. Bitcoin is great for instant payment. But not delayed payment. When the campaign is over and I will only take orders through my website I will only take payment in bitcoin.
Aren't you worried about what happened with Casascius and FinCen? FinCen deals with money laundering. I will not be charging your coins with bitcoin for you. I will be taking payment for a cold storage solution. I will provide a script for creating a proper transaction to charge the coins I sent, but you will be charging them with your own bitcoin.
Why do I need to raise money? Why not just take orders? There is a large up front cost when producing plastics. This campaign takes care of that and the costs of the first run of coins. Once that is complete everything will run as orders from my website.
submitted by bitscavenger to Bitcoin [link] [comments]

[WTS] Physical Dogecoins from Spain that contain their Face Value of 10,000 DOGE! Only 500 Minted! Plus Shibanu Dogecoins from the EU <500 Minted!

EDIT: 10/9/15 - I have updated the listing as 2 of the coins have been Sold. There are still 3 of the Crypto Imperator 10,000 DOGE coins left that are truly some beautiful coins, and each contain their Face Value/Denomination of 10,000 Dogecoins, yet any amount can be sent to its address and the coin used as a secure cold storage wallet. Their holograms are Visually Stunning!
Check my personal Limited Edition #95 CI 10,000 Dogecoin graded MS67 by ANACS in the photo album; it is a beautiful coin! It is the last 2 pictures; the very last pic is a duplicate and not the MS67.
Verification and More Pictures (Sorry the verification date is a few days old; I took the pictures and planned on listing them but it was a pretty hectic week)
Click for Full Size/Higher Resolution!
Hey guys, I have a huge collection of physical Bitcoins & other physical cryptos (such as these physical Dogecoins), and I'm selling a few extras. I love all coins in general, but these are my favorite to collect closely followed by old world silver coinage & Norfed Liberty Dollars.
Here is some of my feedback from Reddit sales
Here is my eBay profile with 100% Feedback
Here is my BitcoinTalk profile, where I have probably had the most dealings (Click on "Trust" to see Feedback)
(4 3 Available) Crypto Imperator 10,000 Dogecoins, and some background info. below:
Price per Crypto Imperator 10,000 Dogecoin -- $24
First coming out of Spain in 2014, the 10,000 Dogecoin Series were the first coins ever released by Crypto Imperator, now an established and respected manufacturer of physical crypto coins. With a very low mintage of only 500 coins, some excellent minting strikes, and beautifully complex security holograms, these coins were a hit from the start and quickly sold out. The first wallet-type physical Dogecoins ever minted, each coin contains its face value of 10,000 Dogecoins.
The zinc-alloy 10,000 Dogecoin was first released in June 2014 and is 39mm in diameter with a thickness of 3mm. The denomination on the face of the coin is "10,000 DOGE", and each coin was funded with that amount of Dogecoins by the creator. An appealing yet complex tamper-evident security hologram covers the private key to a unique Dogecoin address containing the coin's funds. The coin can be funded with any amount of extra Dogecoin by the buyer if desired, and can be used as a secure cold storage Dogecoin wallet. If you are ever ready to spend the funds contained within the coin, simply peel the hologram off of the coin to reveal the private key, which you can then import into your Dogecoin wallet of choice (however this will probably reduce the value of the coin as a collectible).
The obverse of the coin features a large centered portrait of a shiba inu dog, the dog breed famous for the "Doge" internet memes and the cryptocurrency Dogecoin. Next to the 'Shibe' is the word "Wow" written in the appropriately chosen font of 'Comic Sans'. Above the Doge portrait reads the slogan, "in shibes we trust", and on the bottom of the coin the denomination "10,000 DOGE" is stamped.
On the coin's reverse is the manufacturer's name "CryptoImperator" across the top and its year of minting "2014" along the bottom, the two sets of writing separated by a beautiful floral print that goes up both sides like a vine. In the center of the coin the tamper-evident security hologram is placed, covering up the coin's private key. Crypto Imperator's hologram is one of the best; there are so many different layers in it and each has a different look depending on which angle it is viewed from (which is why I included so many different pictures). Among the different features that can be seen in the hologram are the words "Crypto Imperator Original", a rocket flying to the moon with the words "To The Moon" present, and a Roman-type figure above 2 pillars and the words "Crypto Imperator". In the center of the hologram a small window is cutout, showing the first 8 characters, or 'First Bits', of the coin's Dogecoin address.
SOLD! (1 Available) Shibanu 50,000 Dogecoin (Un-Funded, DIY physical Dogecoin) and some background info. below:
Price for the Shibanu Dogecoin -- $24 SOLD!
The very first coin released in September 2015 by Shibanu (a new physical crypto coin maker), the Shibanu 50,000 Dogecoin coin is a DIY physical Dogecoin. Each purchase includes 1 coin in a protective flip, and 1 tamper-evident security hologram (for placing a private key and assembling the coin if you choose to do so). This coin has a beautiful gold-plated finish that just shines and pictures do not do it justice.
The Shibanu 50,000 DOGE coin was first released in early September 2015 and is 38mm in diameter with a thickness of 2.5mm, composed of Zinc Alloy with a beautiful and lustrous Gold-Plated finish. The recommended denomination on the face of the coin is 50,000 DOGE, but these coins are unfunded as they were originally sold, and any amount of Dogecoin can be loaded onto them if desired. They can be used as a secure cold storage Dogecoin wallet if you choose to print and place a private key and assemble the coin with one of the tamper-evident security holograms. Please note that these coins are sold unfunded, and do not contain or come with any actual digital Dogecoin value. If you are ever ready to spend the funds contained within the coin (if you've assembled & funded it), simply peel the hologram off of the coin to reveal the private key, which you can then import into your Dogecoin wallet of choice. (This concept can be confusing, just ask if you have any questions!)
The obverse of the coin features the word "SHIBANU" stamped across the top, representing its maker, with "50000 DOGE" (representing its suggested denomination, or face value) stamped across the bottom. A large "D" is stamped into the center, with a Shiba Inu dog leaning on the top, which represents the Doge meme. To the left and right of the large "D" are the phrases "Multus Moneta" and "Multus Fortuna", which roughly translate from Latin to English as "Much Money" and "Much Fortune". The large "D" in the center also has an X pattern behind it, and those surfaces are smooth and shiny strikes, while the background has a nice contrasting textured strike.
The reverse features the word "DOGECOIN" stamped across the top in an arched fashion with the year of issue "2015" stamped across the bottom. There is an indented circular area in the center on the reverse, where a private key can be placed and covered with the provided Shibanu tamper-evident security hologram, if you choose to assemble it and/or use it as a cold storage Dogecoin wallet. Shibanu's first holograms are very appealing on the eye with many different elements, layers, and colors, depending on which angle the coin is viewed from. They feature a repeating "SHIBANU" logo in the background with a dog's paw prints and a rocket heading to the moon in the center, which has a letter "D" and the maker's name "Shibanu". There is also a small window cut out in the center of the hologram so that the coin's "First Bits", or first 8 letters of a Dogecoin address, can be viewed to verify funds contained within.
These coins are DIY (Do It Yourself) physical Dogecoins and as such are sold as unfunded kits containing 1 coin and 1 tamper-evident security hologram. The positive aspect of buying a DIY physical Dogecoin is that you don't have to trust anyone with the private keys to your Dogecoin addresses (and Dogecoin funds). With your coin, your wallet's security will be in your own hands if you choose to generate, print, and place a private key within your coin. The tamper-evident security holograms are designed in a way that if somebody gained access to your physical coin and pulled off the hologram to access your private key, it would be obvious it had been compromised due to a visible honeycomb pattern left across the back of your coin. It is your choice if you want to print a private key and assemble your coin, or leave it un-assembled as it is sold. If you need help or have any questions about generating and printing private keys for your coin, just let us know and we will send you some helpful resources and instructions.
Payment Info.- Bitcoin and/or PayPal Friends & Family highly preferred at the moment (Please leave note/comment line blank if paying with PP F&F) but will also accept PP Goods & Services (add 3% to your total). Also, I almost forgot to add- I will also definitely accept Dogecoins as payment for these physical Dogecoins!
Shipping Info.- $2.25 for basic, tracked shipping in the US via First Class Parcel (no matter if you buy 1 or all 5 coins); this will be extremely well-packaged in a bubble mailer and comes with tracking and delivery confirmation for free. If you want Priority 2-Day (which includes $50 insurance), just add $5 to your total.
Always willing to ship international at cost, and can do so very affordably. PM if interested in buying overseas.
Also- I package very securely & discretely, and drop off each package by hand- so once it's shipped you own it unless you want to pay extra for insurance. I will say though I have never had a package lost out of hundreds (knock on wood..)
About Physical Bitcoins/other cryptos:
In 2011 a man named Mike Caldwell, an avid supporter of cryptography and Bitcoin, had an idea to mint physical coins that could represent digital Bitcoin value in a more conventional way, so that more people would be able to conceptualize and understand this new digital cryptocurrency technology. He came up with a way to mint a physical coin that actually contained the digital Bitcoin value it represented. On one side of the coin, he had a recessed groove stamped into it. He then securely and safely generated new Bitcoin address public & private keys, printing the private keys (needed to spend the funds) and placing them in the recessed groove. He then had complex & layered tamper-evident holograms created to cover the private key, which served 2 purposes: 1- these complex holograms made it harder to ever create a believable counterfeit of his coins, and 2- when the holograms were peeled back exposing the private key needed to spend the funds, it left a honeycomb pattern behind, which would instantly tell someone considering buying one on the 2nd market whether the coin still contained its valuable BTC funds, or if it had been spent. He called his coins Casascius physical Bitcoins, and they proved to be very popular, with several different denominations and Series released over a couple years' time. Today these coins are highly valued & sought after collectors' items. Many individuals, groups, and companies followed suit in the years that followed, designing and minting their own physical crypto coins. And that's where we are today with these coins I have for sale. :) I tried my best to explain how physical Bitcoins/Dogecoins/etc. work in a limited space, but it is hard to fully summarize such a topic in so few words, so if you have any questions just ask!
This can all sound so complicated and confusing to someone unfamiliar with Dogecoin/cryptocurrencies and how they work. If you have any questions about these coins or Dogecoin in general, please reach out to me via a message and I would be glad to help you out!
Thanks for Reading!
submitted by snarlpill to Coins4Sale [link] [comments]

Anyone interested in a Kialara group buy?

You can find them here: http://www.reddit.com/Bitcoin/comments/2e32dg/as_an_artist_and_collector_of_casascius_coins_i/cjwf65e
The creator only ships internationally for orders of at least 10 units. So, who might be interested in buying some in group?
I buy one myself and already have one other participating redditor. They are 99 USD each and payed for with BTC. I'm willing to organize the group buy and ship them around.
Anyone interested?
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Hidden Treasure - Casascius Bitcoin Value?

About four years ago in college, I was at a Libertarians meeting and someone presented the idea of Bitcoin, and gave me a physical coin with a code for 1 BTC printed on the back. At the time, it was worth about $10. I just had dinner with a friend of a friend who says that the physical coin has far outstripped the value of the BTC in it.
I'd like to figure out the approximate size of this nest egg, but I'm struggling to find an auction listing for my exact coin. It's always the wrong year or denomination. I was able to identify that the exact coin I have is a Casascius 1.0 BTC Brass, Series-2 (2012).
About how much is this worth if I sold today?
submitted by lostozian to Bitcoin [link] [comments]

Sorted 25,101 Casascius Coins by denomination

Last I posted about finding 25,101 unspent Casascius coins.
Tonight I decided to sort them by denomination to see which values of coins hadn't been spent.
There are 168 different denominations. As you can imagine most of the coins are .1, .5, 1, 5, 10, 25. There are 5 w/ 1000 BTC.
Many of them are one-offs w/ odd values such as 6.4526818 which makes me think that people are just using them as cold storage and sending more coins to them than whatever was their initial value.
Here are the
submitted by cgcardona to Bitcoin [link] [comments]

Gauging interest on a USA Group Buy - One Dozen Silver Physical Bitcoin Halfs (2013) 0.5 Bitcoin on 0.5 Troy Ounce of .999 Fine Silver

On casascius.com, these go for 1.9 btc plus .5 btc shipping in the USA if you order a SINGLE. Arithmetic tells me that the total cost of ordering ONE would be 2.4 btc.
If we did a group buy, a DOZEN coins cost 15.6 btc. Divided, that is 1.3 btc each, and shipping about .1 btc (here I am guessing, but it really can't be more than .1 btc to ship a little coin w/in the US, can it?)
I'd charge a .05 management fee on each coin for doing the organizing, ordering, re-shipping, etc. This seems to be cheaper than the management fee for other group buys I've seen on this /r (referencing this group buy, of which I was a part). Also if shipping is more than .1 btc, I'll take the rest out of my management fee (again, can shipping a coin seriously cost more that ten bucks???)
So basically in a group buy, you'd get a .5 btc Casascius Silver Coin for 1.45 btc instead of 2.4 btc if you ordered a single. So again, arithmetic tells me that you'd be saving .95 btc.
Right now I'm just trying to gauge interest. I am not John K Escrow, nor do I have any history of escrowing, but if interest is high enough I'd be willing to link my FB page, LinkedIn page, give you my gmail address, prove where I work (a non-profit in Seattle), etc. Whatever people needed to feel comfortable.
So let me know if there's interest.
I just got in on a group buy for the 1btc silver coins but the buyer was located in the UK so shipping was an extra .1 btc for the US (making total shipping .25). FYI, same link as before :-)
These .5 btc silvers are more affordable that the 1 btc coins, and shipping should be cheaper if we keep it in the US. Also, I heard of another group buy for the 1btc's a little bit ago in the US, but for some reason they were more expensive than the UK buy (which is sort of why I'm here, I understand there is a premium on trustworthiness in btc forums, but I think I can give you enough info for you to trust me and not charge out the ass for it).
Anyway, let me know what's up. I'm in for one .5btc coin (maybe 2), so if we can get people interested in 10-11 more, we could all save .95 btc and get some badass coins. Flip it on eBay or BitMit if you want. You're saving almost $100 USD; you can still sell it for $50 above what you paid and whoever buys it will be getting $50 off what they'd pay on casascius.com.
Here's the link for the lazy or for the opposite of lazy who want to do their own math: https://www.casascius.com/
So, please let me know if you're interested and we can make this thing a "go". If we get enough interest I'll create another "official ordering" post.
Questions and comments are appreciated.
Thanks!
submitted by Takashi_Satori to Bitcoin [link] [comments]

For Sale: Bag of 10 Casascius Aluminum coins + Holograms on cryptothrift

For Sale: Bag of 10 Casascius Aluminum coins + Holograms on cryptothrift for cryptocoins
Tags: aluminum, Blank, Casascius, Coins
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

For Sale: 10 Casascius Aluminum blank coins + Holograms on cryptothrift

For Sale: 10 Casascius Aluminum blank coins + Holograms on cryptothrift for cryptocoins
Tags: aluminum, Blank, Casascius, Coins
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

For Sale: Bag of 10 Casascius Aluminum coins + Holograms on cryptothrift

For Sale: Bag of 10 Casascius Aluminum coins + Holograms on cryptothrift for cryptocoins
Tags: aluminum, Blank, Casascius, Coins
cryptothrift is a Bitcoin, Litecoin and altcoin marketplace and auction site with automated escrow.
submitted by cryptothrift to cryptothrift [link] [comments]

Casascius 0.5 BTC Coins unpacking casascius bitcoin How To Mine 1 Bitcoin in 10 Minutes - Blockchain BTC Miner ... redeeming casascius bitcoin Análisis Bitcoin/Btc - ¿¿A LOS $10.000??

The coins sell for 0.02 BTC to 0.04 BTC and the full set of 20 Antana bitcoin statistic coins costs 0.41 BTC. Although they are not physical coins with QR codes and holograms, they still make for ... New Listing Bitcoin Magazine 1st Issue Brand New in UNOPENED Packaging casascius BTC [email protected]@K # Brand New. $560.00. or Best Offer. Free shipping. Watch; Unfunded LEALANA 2013 .1 BTC Wallet - like Bitcoin CASASCIUS Rare Private Key . Has .02 BTC loaded. $650.00. or Best Offer. Free shipping. Watch; New Listing 2013 silver Casascius coin / unredeemed / ANACS 68 /ultra rare / 0.1BTC-loaded. $17,500 ... In 2011, Mike Caldwell created the notorious Casascius physical bitcoin collection, and since then the series of coins has become extremely valuable. Over the last two months, a bunch of people have redeemed their Casascius coins and on December 23 someone peeled a 100 BTC ($723K) Casascius bar. Bitcoin munten. Deze Casascius coins zijn fysieke metalen coins die zijn gemaakt door Bitcoiner Casascius. In de echte wereld heet hij Mike Caldwell en is afkomstig uit Sandy (Utah, USA). Ze werden tot 26 november 2013 verkocht met een stukje papier erin. Dit werd bedekt met een fraude bestendig hologram. Je kon de Casascius coins kopen in groottes van 1, 10, 25, 100 en 1000 BTC. Maar hoe kan ... A Casascius 1 BTC coin that was originally released back in 2011 as part of the coin’s second series just sold on eBay. The winning bid was an eye-opening $28,700. Bidding War. Overall, the Casascius coin had 166 bids placed upon it. The seller bravely started off the auction at 1 cent. This was pretty gutsy as the coin contains 1 Bitcoin in value, which currently stands at $14,399. The ...

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Casascius 0.5 BTC Coins unpacking

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