Quote from: Blazedout419 on March 02, 2015, 02:16:30 PM

Quote from: gravitate on March 02, 2015, 02:09:18 PM

Quote from: Blazedout419 on March 02, 2015, 12:57:06 PM

I am interested, but can you show us a rendering of how the private keys would work? Is it a piece of metal in the coin that is engraved on both sides? How would the coin be damaged retrieving the key?

I will say some simple stuff here to try make it understandable. Lets say you start with a coin and chop it in half through its center so you have 2 thinner coins. You then engrave a private on one side and some other characters on the other and then stick them together. You can only read the key if you part the 2 halves. This shows you the concept of the private key security.

BUT ITS NOT THAT SIMPLE:
It isn't simply a coin chopped in half it requires a lot of machining on a metal lathe. So to make one of these coins you actually need to start with 2 coins to make only one. From 2 minted coins you end up with 1 finished product and some scrap metal which goes towards the machining. The actual visible cut/seal line just inside the outer ring of the coin making it invisible to the naked eye. The 2 parts of the coin are sealed securely in such a way it is impossible to part the 2 pieces with out causing visible damage to the finished product.

Does this answer your question?

So how would you ever redeem it without potentially ruining the keys while cutting it open?

There is no adhesive/ metalic fusion or compression fitting anywhere near the private key so the 2 parts can be separated and leave the private key intact. When opened it will only be the sides of the coin near the outer ring that will be physically damaged. When the coin has been opened it will still look half ok but you will see tamper marks around the ring of the coin.

With the holographic stickers it is possible to use a lot of patience and get them off with some kind of non polar substance such as naptha etc which has been documented. With these coins with the engraving within the coin it is practically impossible and I would welcome anyone to try.

Quote from: jcoin200 on March 02, 2015, 02:44:55 PM

Quote from: gravitate on March 02, 2015, 08:35:44 AM

Oh Actually just read about coinographic. Yes everyone has been stung by the fall in Bitcoin price but if you are going into a business with precious metal and bitcoin its very important in the current climate to not hold the monies in bitcoin. Remember I said:

I will take payment in Bitcoin for the 275 GBP to start with in bitcoin based on the sell rate on www.bitbargain.co.uk

This is so I can convert the BTC to FIAT immediately and hence you will not be getting any updates like 'sorry I kept all the sales money in bitcoin and the price crashed so all your money is gone' which is what I summarised in the coinographic episode.

Anyway I have been in the physical side of things for 2 years now and still going and still passionate about it. I am confident this series of coins will initiate some good press for bitcoin.

What about funding the coin? What if BTC price shoots up even 10-15%? Wouldnt it make sense to wait until the coin is made and then fund it right when each coin is ordered? Doesn't that seem to be the only way to protect your business and the customers at the same time?

Seems like you want to avoid the same preorder setup coinographic had...

Hi so basically that is exactly what I intend to do. The customer pays 270 GBP then when the coin is finished they will send 1 BTC so I will then ship the coin and then fund when the coin arrives to the purchaser. This way there is absolutely zero risk of the volatility of the bitcoin value.