understood, but they can not access funds once allocated.......
how would you structure it to allow a coin sale, insure it was funded and finally insure the private key was unknown to anyone absent breaking the seal on the coin...... without being a transmitter?
You know the arena, and all suggestions would be helpful. As I recall there were multiple FinCEN letters sent.
bob
So this thread brings up an interesting concept. One could create "blanks" so to speak that had the private address concealed behind a hologram and the public address revealed. The purchaser of the blank could then fund the wallet with the face value. Then the produced is only selling a product, the blanks, and not engaged in a money services business. Of course, at every transaction, the recipient should probably validate the funds exist in the wallet to assure that it was originally funded. This is kind of reminiscent of the old days when gold and silver coins needed to be weighed to identify debasement (
http://en.wikipedia.org/wiki/Methods_of_coin_debasement).
Anyway, while this is an interesting intellectual exercise and physical coins have become the face of every news article on bitcoin, the actual benefit of physical bitcoin is limited.