Re: casascius and other physical bitcoins is a fraudulent idea
Following a good will Casascius apparently opened the pandora box. Now people are really believe that the sealing proves that the physical bitcoin is secure. But of course it is not. A producer of a physical note or a coin can copy and preserve the private key. This situation is so strange. I bet that if this hysteria wouldn't decline we will face a wave of fraud associated with a physical pseudosecured coins in a future.
It would be better if Casascius spend the same amount of effort populating the idea that only self printed paper wallets are secure. Every such cold storage obtained from a second party as a present, gift or a payment should be immediately transferred to the safer wallet because private key could be copied and preserved by a grantor. Tamper-evident seal in this case doesn't provide the needed level of security because the private key could be copied before the sealing was applied on a coin.
Shame on you Casascius
It would be better if Casascius spend the same amount of effort populating the idea that only self printed paper wallets are secure. Every such cold storage obtained from a second party as a present, gift or a payment should be immediately transferred to the safer wallet because private key could be copied and preserved by a grantor. Tamper-evident seal in this case doesn't provide the needed level of security because the private key could be copied before the sealing was applied on a coin.
Shame on you Casascius
Yeah, shame on you Casascius.
And shame on me for having this realism presented to me via a Newbie. I should've done my due diligence a long time ago on this shyster operation. Goes to show, never trust a Mormon, and don't deny that either, for we all know you live in Utah with probably ten wives. Speaking of, where the hell do you find time to produce these fraudulent coins of yours, seeing now that your hands are full with them ten wives and probably at least thirty children? Shame on you for conning the Bitcoin community for the sole purpose of providing for your ever extending family.
BTW, Mike, hope sales were swell during Black Friday.
And that, my friends, is another fine post by...
~TMIBTCITW
PS: Apologies if my sentiment was already expressed in this thread, for I didn't read past the OP because I was so livid.
