This PCGS coin sold on GC in 2021 has lost over $1,000,000 in value since sold.
gtstang
Posts: 1,756 ✭✭✭✭✭
Suppose it's ok to post since it is a PCGS holdered coin. It obviously has no value listed by PCGS.
https://www.greatcollections.com/Coin/1053185/2011-25-BTC-Casascius-Bitcoin-Gold-Plated-Coin-PCGS-MS-67
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i have thought of and looked at a few similar items (various denoms) and thought the same about how much value has been "lost" since sold in past 24 or so months.
fwiw, i have very loosely read/heard about bitcoin for the past idk, 10+ years (not sure when it was created) and i remember reading/hearing about its VEEERRRYYY tumultuous ride up and down, rejection and acceptance and generally speaking, seems to be like everything else, a decent long-term investment, where one has to have good timing or hold and sell when they should, not when they want or have to.
most of crypto hasn't seen a long history like bitcoin and some others have and this is just most likely the current major dip in a long line of ups n downs. kinda sings when it goes this low but another peak will come, even if several years away.
although, time and events are NOT the same each time there is an up n down. so predicting what and when it an art and science unto itself.
my 2c.
Good. I’m not a fan of crypto myself. It requires massive electricity generation to produce it. See the linked article below.
https://wapo.st/3cUuPWo
P. T. Barnum would have appreciated this "coin".
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Glad i only invest in Gold, Silver and stocks.
MIKE B.
What about Gold, it takes massive amounts of fuel use to produce, oh wait this coin is crypto and gold oh my
It always seemed a bit ironic to produce physical tulip bulbs...... er... cryptocurrency. Doesn't that defeat the purpose?
What ever happened to the 1000 bitcoin that was valued at 48 Million last Oct?
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iirc, the owner stated they were not selling, not even BTC at $60k.
don't know if anything changed from there but i gotta believe if it were sold, publicly, that someone here would've heard about it.
@LanceNewmanOCC Hopefully the owner sold it. Otherwise how many millions did thst drop in value?
Successful BST with ad4400, Kccoin, lablover, pointfivezero, koynekwest, jwitten, coin22lover, HalfDimeDude, erwindoc, jyzskowsi, COINS MAKE CENTS, AlanSki, BryceM
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here is the THREAD about it.
fwiw, depending on when the bought in, only thing that was probably lost, was equity.
although, if sold at the peak and bought in any time recently......
edited to add: BTC is around $19k right now. so it is roughly 1/3 what it was at $60k but it was on a heck of a tear so it is probably back around what it was at the beginning of the pandemic. give or take.
It's like most investment analysis, the more informed or knowledgeable you are about the subject, the more likely you are to succeed. Bitcoin has always been over my head as to investment opportunities.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
The coin being gold-plated is a funny twist :-)
Your info is a bit dated. September 15th is the Ethereum merge. Proof of stake rather than proof of work. No more electricity than your Visa card.
Bitcoin though will always be PoW.
And other PoW cryptos will rise. PoW is the most true to the spirit of crypto, true decentralization.
"It's like God, Family, Country, except Sticker, Plastic, Coin."
Yes, there is some truth in that [the spirit]. However it just isn't scalable or cost effective with rising energy prices. I shudder to think of how much energy would be required if all transactions switched to bitcoin.
China has cracked down on mining quite a bit but here is a link to a video of a Chinese mining factory from a few years ago, Please note that there will most likely be an ad at in front of the video. It is interesting and you can see there is nothing overly technical or tricky about it, it is just a brute force process that uses a huge amount of electricity.
https://video.vice.com/en_us/video/life-inside-a-chinese-bitcoin-mine/55b910f39820ecc47f68c306
K
Although the 25 BTC Casascius Physical Bitcoin dropped a lot since November, over the past 3, 5 or 10 years, it probably still increased in value more than any rare coin. I don't know the original issue price of the 25 BTC, but I think it was significantly under $500.
Owner/Founder GreatCollections
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Not a coin.
To paraphrase that Blame Canada song, it's not even a real coin anyway!
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Imo cryptos are like the proverbial hot potato, and I prefer to keep a distance from them.
I have looked into Bitcoin... back when it became super popular. I chose to remain at a distance... and not invest. I am content with that decision. That is a neat 'coin' though. Cheers, RickO
Maybe it needed the CAC sticker😳
Watch out Mike. There are some pretty popular error Casascius physical bitcoins.
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@Ian
Yes!