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The World's Most Valuable Coin - The Gold Cas - Currently $48 million (value 10 years ago was $4905)

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    jmlanzafjmlanzaf Posts: 31,943 ✭✭✭✭✭
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    @Gazes said:
    A common theme I've seen over the last few decades----"i wish I could go back in time when there was the ability to make huge fortunes. Those opportunities arent around anymore." Here is a coin that did exactly that. Yes, it required outside the box thinking and risk. And I gurantee there are opportunities out there now.

    If I had a time machine, I would go back to the Morgan Dollar Treasury hoard

    Young Numismatist

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    orevilleoreville Posts: 11,786 ✭✭✭✭✭

    @cameonut2011 said:
    I’d sell it now before the capital gains tax rate increases given all of the tax talk in DC and retire early.

    The 5000 BTC is considered a collectible?

    If so, the long term capital gain rate is already 28% plus the 2.9% medicare surcharge.

    Congress is ruining the income tax system by adding surcharges and addendums that do not make any sense.

    Now they are proposing to tax unrealized capital gains which is even more nutty.

    This is more like the unpopular intangible property tax that the State of Florida used to impose but thankfully trashed it a few years back.

    A Collectors Universe poster since 1997!
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    JimTylerJimTyler Posts: 3,059 ✭✭✭✭✭

    I don’t have a damn clue what this Bitcoin 💩 is all about. I have lived most of my life without Bitcoin I think I can wrapped it up without Bitcoin. You guys enjoy.

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    jmlanzafjmlanzaf Posts: 31,943 ✭✭✭✭✭

    @JimTyler said:
    I don’t have a damn clue what this Bitcoin 💩 is all about. I have lived most of my life without Bitcoin I think I can wrapped it up without Bitcoin. You guys enjoy.

    You could sell it for $57 million and buy something else.

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    JimTylerJimTyler Posts: 3,059 ✭✭✭✭✭

    @jmlanzaf said:

    @JimTyler said:
    I don’t have a damn clue what this Bitcoin 💩 is all about. I have lived most of my life without Bitcoin I think I can wrapped it up without Bitcoin. You guys enjoy.

    You could sell it for $57 million and buy something else.

    If I had $57 million I would have the largest animal sanctuary I could buy and a nice $20 Liberty.

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    jdimmickjdimmick Posts: 9,601 ✭✭✭✭✭

    Its not the coin thats valuable (except the gold), its the account number attached to it. Or linked to anything of that matter, card, paper napkin , etc. the fact that it is in fact on a coin, that's cool as all get out. Incredible return on investment, to the point its simply unbelievable. Not to this extreme, but several years ago, i had a guy come in with like 25 bitcoin on coins, when it was around 2-3k. I remember him telling me "it's the money of the future and I should get in. Me not even understanding what the h+ll it was at the time, just shrugged it off, today that same amount is 55k x 25=1.375 Mill. I could kick myself in the arse for not really listening.

    However, going forward, Bit coin may experience some tuff roads as the government is desperately trying to figure out a way to kybash it. Creating investigating teams and staff to counter act it, expose tax avoidance, fraud and other issues. Even to the point that the US itself will create a crypto currency of its own, and illegize all the remainder.

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    jmlanzafjmlanzaf Posts: 31,943 ✭✭✭✭✭

    @jdimmick said:
    Its not the coin thats valuable (except the gold), its the account number attached to it. Or linked to anything of that matter, card, paper napkin , etc. the fact that it is in fact on a coin, that's cool as all get out. Incredible return on investment, to the point its simply unbelievable. Not to this extreme, but several years ago, i had a guy come in with like 25 bitcoin on coins, when it was around 2-3k. I remember him telling me "it's the money of the future and I should get in. Me not even understanding what the h+ll it was at the time, just shrugged it off, today that same amount is 55k x 25=1.375 Mill. I could kick myself in the arse for not really listening.

    However, going forward, Bit coin may experience some tuff roads as the government is desperately trying to figure out a way to kybash it. Creating investigating teams and staff to counter act it, expose tax avoidance, fraud and other issues. Even to the point that the US itself will create a crypto currency of its own, and illegize all the remainder.

    The government had talked about a digital currency. I don't recall their suggesting a crypto.

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    rmpsrpmsrmpsrpms Posts: 1,818 ✭✭✭✭✭

    The US may be waiting until the "Digital Dollar" CBDC is ready before making their move. All it take is one executive order stating that cryptos are considered "private money" and immediately outlawed, just like they did in China, who indeed waited until their "Digital Yuan" was ready before outlawing cryptos. It's only a matter of time.

    PM me for coin photography equipment, or visit my website:

    http://macrocoins.com
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    fcfc Posts: 12,789 ✭✭✭
    edited October 11, 2021 9:30PM

    casascius was a forum name on bitcointalk.org. Mike Cadwell I think his real name was. I was active back then along with many others. Per the norm with bitcoin everyone wanted to make a name for themselves, make money, promote, etc... bitcoin. It was basically a hobby back then in those early days. So I ran several rigs mining bitcoin and since I worked at an ISP I ran an early litecoin mining pool.

    Basically the consensus was among us early folks while it is a cute idea casascius or anyone else involved could know the private key to claim the bitcoin. Since scamming was so bad back then and today just the thought of someone else knowing your private key was blasphemy. So people would have no problem buying a cheap coin but the more expensive ones was just considered foolish to trust someone that much.

    I know at some point Fincen shut him down. I am not sure if he figured a way around that. Bitbills was another idea along the same vein but on a credit card type material.

    His first attempt even had a typo of his nickname on it. That did not give anyone a lot of faith at that stage. Anyway I have no particular thoughts about it. Just another person trying to make a few bucks and get involved.

    As for people feeling regret about missing out on bitcoin don't be. You can say the same things about many things. Why did I not buy amazon stock in 2002? Why did I not buy that X Y or Z that went up a ton? I have had 1000s of bitcoins pass through my hands. A staggering amount but at the time they were worth .25 cents to 10K. At a certain stage we all took our profits and moved on. We had no idea that wall st would fall into the mess. Bitcoin was already showing its age by 2015 and really should be replaced by something more useful. It has pretty much failed at what we originally wanted which was for it to be used. Not a store of value. A speculation asset. But hey.. that is life. I am totally out of the scene but I enjoyed my time doing it and made plenty. Per the norm it is the people who sell the shovels to the miners who truly are raking in the cash. Not the holders. Coinbase comes to mind. The large mining pools who withstood getting denial of service attacked weekly and knocked off line.

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    skier07skier07 Posts: 3,694 ✭✭✭✭✭

    @Gazes said:
    A common theme I've seen over the last few decades----"i wish I could go back in time when there was the ability to make huge fortunes. Those opportunities arent around anymore." Here is a coin that did exactly that. Yes, it required outside the box thinking and risk. And I gurantee there are opportunities out there now.

    Speculating/investing in Bitcoin retrospectively was a missed opportunity for most of us. But if I had 1000 Bitcoins I’d prefer mine in a digital wallet rather than a coin which is probably not vey liquid.

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    fcfc Posts: 12,789 ✭✭✭
    edited October 11, 2021 9:51PM

    @skier07 said:

    @Gazes said:
    A common theme I've seen over the last few decades----"i wish I could go back in time when there was the ability to make huge fortunes. Those opportunities arent around anymore." Here is a coin that did exactly that. Yes, it required outside the box thinking and risk. And I gurantee there are opportunities out there now.

    Speculating/investing in Bitcoin retrospectively was a missed opportunity for most of us. But if I had 1000 Bitcoins I’d prefer mine in a digital wallet rather than a coin which is probably not vey liquid.

    The level of paranoia larger holders had is that we would buy a dedicated laptop, wipe it clean, reinstall linux/windows from a legit CD copy, and only connect it to the internet when we wanted to send/receive bitcoin. We would also print out a private key and store it away. You could also backup to thumb drive if you wanted. It is very stressful dealing with large amounts of digital currency. It is not something I would want to push on people at all.

    Even people like dread pirate robert who ran that drug website... I had to help him recover his wallet and he paid me 100 BTC for the simple one line command in the bitcoin client. It was worth 1000 bucks back then. Can you imagine? Ran a drug website, had 10s of thousands of btc in a wallet, and could not figure out how to resync his own wallet. Crazy. He is sitting in prison to this day.

    Even sending bitcoin is stressful when you deal with it a lot. Cut and paste a bitcoin address and send. Now you have to send several more and those strings all start looking the same and sometimes cut and paste does not work like you expect on windows.. and oops. You just sent 5K to the wrong person and good luck getting it back. Maybe things are easier now days but somehow I doubt it. A bitcoin address is a bitcoin address.

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    vulcanizevulcanize Posts: 1,339 ✭✭✭✭✭

    @fc said:
    casascius was a forum name on bitcointalk.org. Mike Cadwell I think his real name was. I was active back then along with many others. Per the norm with bitcoin everyone wanted to make a name for themselves, make money, promote, etc... bitcoin. It was basically a hobby back then in those early days. So I ran several rigs mining bitcoin and since I worked at an ISP I ran an early litecoin mining pool.

    Basically the consensus was among us early folks while it is a cute idea casascius or anyone else involved could know the private key to claim the bitcoin. Since scamming was so bad back then and today just the thought of someone else knowing your private key was blasphemy. So people would have no problem buying a cheap coin but the more expensive ones was just considered foolish to trust someone that much.

    I know at some point Fincen shut him down. I am not sure if he figured a way around that. Bitbills was another idea along the same vein but on a credit card type material.

    His first attempt even had a typo of his nickname on it. That did not give anyone a lot of faith at that stage. Anyway I have no particular thoughts about it. Just another person trying to make a few bucks and get involved.

    As for people feeling regret about missing out on bitcoin don't be. You can say the same things about many things. Why did I not buy amazon stock in 2002? Why did I not buy that X Y or Z that went up a ton? I have had 1000s of bitcoins pass through my hands. A staggering amount but at the time they were worth .25 cents to 10K. At a certain stage we all took our profits and moved on. We had no idea that wall st would fall into the mess. Bitcoin was already showing its age by 2015 and really should be replaced by something more useful. It has pretty much failed at what we originally wanted which was for it to be used. Not a store of value. A speculation asset. But hey.. that is life. I am totally out of the scene but I enjoyed my time doing it and made plenty. Per the norm it is the people who sell the shovels to the miners who truly are raking in the cash. Not the holders. Coinbase comes to mind. The large mining pools who withstood getting denial of service attacked weekly and knocked off line.

    At the end of the day, they are all jusy zeros and ones on a computer somewhere that can be easily manipulated. ;)

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    fcfc Posts: 12,789 ✭✭✭
    edited October 11, 2021 10:08PM

    @vulcanize said:

    @fc said:
    casascius was a forum name on bitcointalk.org. Mike Cadwell I think his real name was. I was active back then along with many others. Per the norm with bitcoin everyone wanted to make a name for themselves, make money, promote, etc... bitcoin. It was basically a hobby back then in those early days. So I ran several rigs mining bitcoin and since I worked at an ISP I ran an early litecoin mining pool.

    Basically the consensus was among us early folks while it is a cute idea casascius or anyone else involved could know the private key to claim the bitcoin. Since scamming was so bad back then and today just the thought of someone else knowing your private key was blasphemy. So people would have no problem buying a cheap coin but the more expensive ones was just considered foolish to trust someone that much.

    I know at some point Fincen shut him down. I am not sure if he figured a way around that. Bitbills was another idea along the same vein but on a credit card type material.

    His first attempt even had a typo of his nickname on it. That did not give anyone a lot of faith at that stage. Anyway I have no particular thoughts about it. Just another person trying to make a few bucks and get involved.

    As for people feeling regret about missing out on bitcoin don't be. You can say the same things about many things. Why did I not buy amazon stock in 2002? Why did I not buy that X Y or Z that went up a ton? I have had 1000s of bitcoins pass through my hands. A staggering amount but at the time they were worth .25 cents to 10K. At a certain stage we all took our profits and moved on. We had no idea that wall st would fall into the mess. Bitcoin was already showing its age by 2015 and really should be replaced by something more useful. It has pretty much failed at what we originally wanted which was for it to be used. Not a store of value. A speculation asset. But hey.. that is life. I am totally out of the scene but I enjoyed my time doing it and made plenty. Per the norm it is the people who sell the shovels to the miners who truly are raking in the cash. Not the holders. Coinbase comes to mind. The large mining pools who withstood getting denial of service attacked weekly and knocked off line.

    At the end of the day, they are all jusy zeros and ones on a computer somewhere that can be easily manipulated. ;)

    Actually they can. In the early days the bitcoin client had an integer overflow. You could create bitcoins and get them into the blockchain. The person who exploited the bug went crazy wild and created billions and billions more. So they quickly created a patch, got the largest mining pools to switch to it, reverted (forked) the blockchain back just far enough, and recovered the situation. All it takes is for the majority of miners to agree to do something and it can be done. Which now days is like 6-10 people who have true power over the main mining pools. If this original hacker would have only made several at a time... he could have gotten away with it for a long time.

    The whole story of them being impossible to create, the blockchain is perfect, is not really correct. I could give you a few more examples of this and a really recent one involving a major bitcoin theft where it was proposed but failed to garner support. It just takes one clever person to destroy the whole thing. The only reason this was solved so quickly is because we all hung out on bitcointalk.org and the news traveled very fast in the small community.

    No one likes to talk about this except hardcore programmers, old school bitcoin people, and etc... who know how this all works. It ain't magic.

    "Value overflow incident

    On August 15 2010, it was discovered that block 74638 contained a transaction that created 184,467,440,737.09551616 bitcoins for three different addresses.[1][2][3] Two addresses received 92.2 billion bitcoins each, and whoever solved the block got an extra 0.01 BTC that did not exist prior to the transaction. This was possible because the code used for checking transactions before including them in a block didn't account for the case of outputs so large that they overflowed when summed.[4]

    A new version of the client was published within five hours of the discovery that contained a soft forking change to the consensus rules that rejected output value overflow transactions (as well as any transaction that paid more than 21 million bitcoins in an output for any reason).[5] The block chain was forked. Although many unpatched nodes continued to build on the "bad" block chain, the "good" block chain overtook it at a block height of 74691[6] at which point all nodes accepted the "good" blockchain as the authoritative source of Bitcoin transaction history.

    The bad transaction no longer exists for people using the longest chain. Therefore, the bitcoins created by it do not exist either. While the transaction does not exist anymore, the 0.5 BTC that was consumed by it does. It appears to have come from a faucet and has not been used since"

    I could go on an on with this stuff.

    "Back in September 2018, developers first discovered the inflation bug — which, in theory, could allow miners to inflate the total bitcoin supply beyond the 21 million BTC by spending multiple unspent transaction outputs (UTXOs) in the same transaction.

    Given the nature of the bug, the developers kept it a secret, quietly releasing a new version of the client."

    Bitcoin is just software. It has and will continue to have bugs.... depends on who finds them first. On top of that the most powerful people in the scene (pool owners/large miners) control it 100%.

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    vulcanizevulcanize Posts: 1,339 ✭✭✭✭✭

    Thank you. I remember reading about all this on a conspiracy website back then ;)

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    ilmcoinsilmcoins Posts: 525 ✭✭✭✭

    @ianrussell said:

    @Rampage said:
    @ianrussell Thanks for posting this. It is very intriguing. I see it says 1000 bitcoin, but for those of us who are naïve about digital currency, can you help us understand how this is 1000 Bitcoin and not just an ounce of gold? I am not understanding the relationship if this with digital currency. Please take no offense to this, I am just asking. You are welcome to send me a private message if you prefer.

    Definitely no offense taken and it's a very good question.

    Apart from the one oz. of gold, there is a public key displayed on the reverse, printed on the tamper proof hologram. Under the hologram, there is a private key. You can see on Bitcoin Casiscius tracking websites that the public key is still valid, but no one has redeemed the 1000 BTC, which is only possible using the private key (with the public key).

    • Ian

    I am assuming that others had access to the private key to print it on there. I would be worried the BTC might disappear and all I would be left with is the gold.

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    ZoinsZoins Posts: 33,898 ✭✭✭✭✭

    @ianrussell said:

    @cameonut2011 said:
    Is this going to be a future GC offering?

    The owner is not planning on selling the Gold Cas, but of course, we're always open to auctioning $50 million items. :smile:

    Would it have a reserve? ;)

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    batumibatumi Posts: 797 ✭✭✭✭

    But will it CAC? Sorry, I had to!

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    jmlanzafjmlanzaf Posts: 31,943 ✭✭✭✭✭

    @vulcanize said:

    @fc said:
    casascius was a forum name on bitcointalk.org. Mike Cadwell I think his real name was. I was active back then along with many others. Per the norm with bitcoin everyone wanted to make a name for themselves, make money, promote, etc... bitcoin. It was basically a hobby back then in those early days. So I ran several rigs mining bitcoin and since I worked at an ISP I ran an early litecoin mining pool.

    Basically the consensus was among us early folks while it is a cute idea casascius or anyone else involved could know the private key to claim the bitcoin. Since scamming was so bad back then and today just the thought of someone else knowing your private key was blasphemy. So people would have no problem buying a cheap coin but the more expensive ones was just considered foolish to trust someone that much.

    I know at some point Fincen shut him down. I am not sure if he figured a way around that. Bitbills was another idea along the same vein but on a credit card type material.

    His first attempt even had a typo of his nickname on it. That did not give anyone a lot of faith at that stage. Anyway I have no particular thoughts about it. Just another person trying to make a few bucks and get involved.

    As for people feeling regret about missing out on bitcoin don't be. You can say the same things about many things. Why did I not buy amazon stock in 2002? Why did I not buy that X Y or Z that went up a ton? I have had 1000s of bitcoins pass through my hands. A staggering amount but at the time they were worth .25 cents to 10K. At a certain stage we all took our profits and moved on. We had no idea that wall st would fall into the mess. Bitcoin was already showing its age by 2015 and really should be replaced by something more useful. It has pretty much failed at what we originally wanted which was for it to be used. Not a store of value. A speculation asset. But hey.. that is life. I am totally out of the scene but I enjoyed my time doing it and made plenty. Per the norm it is the people who sell the shovels to the miners who truly are raking in the cash. Not the holders. Coinbase comes to mind. The large mining pools who withstood getting denial of service attacked weekly and knocked off line.

    At the end of the day, they are all jusy zeros and ones on a computer somewhere that can be easily manipulated. ;)

    As is every asset you have including your very identity.

  • Options
    JimTylerJimTyler Posts: 3,059 ✭✭✭✭✭

    @jmlanzaf said:

    @vulcanize said:

    @fc said:
    casascius was a forum name on bitcointalk.org. Mike Cadwell I think his real name was. I was active back then along with many others. Per the norm with bitcoin everyone wanted to make a name for themselves, make money, promote, etc... bitcoin. It was basically a hobby back then in those early days. So I ran several rigs mining bitcoin and since I worked at an ISP I ran an early litecoin mining pool.

    Basically the consensus was among us early folks while it is a cute idea casascius or anyone else involved could know the private key to claim the bitcoin. Since scamming was so bad back then and today just the thought of someone else knowing your private key was blasphemy. So people would have no problem buying a cheap coin but the more expensive ones was just considered foolish to trust someone that much.

    I know at some point Fincen shut him down. I am not sure if he figured a way around that. Bitbills was another idea along the same vein but on a credit card type material.

    His first attempt even had a typo of his nickname on it. That did not give anyone a lot of faith at that stage. Anyway I have no particular thoughts about it. Just another person trying to make a few bucks and get involved.

    As for people feeling regret about missing out on bitcoin don't be. You can say the same things about many things. Why did I not buy amazon stock in 2002? Why did I not buy that X Y or Z that went up a ton? I have had 1000s of bitcoins pass through my hands. A staggering amount but at the time they were worth .25 cents to 10K. At a certain stage we all took our profits and moved on. We had no idea that wall st would fall into the mess. Bitcoin was already showing its age by 2015 and really should be replaced by something more useful. It has pretty much failed at what we originally wanted which was for it to be used. Not a store of value. A speculation asset. But hey.. that is life. I am totally out of the scene but I enjoyed my time doing it and made plenty. Per the norm it is the people who sell the shovels to the miners who truly are raking in the cash. Not the holders. Coinbase comes to mind. The large mining pools who withstood getting denial of service attacked weekly and knocked off line.

    At the end of the day, they are all jusy zeros and ones on a computer somewhere that can be easily manipulated. ;)

    As is every asset you have including your very identity.

    OK now you’re freaking me out. You mean I might be a 20 year old female Swedish volleyball player ?

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