I like looking around old Bitcointalk.org threads and I came across this one today. These are physical coins with certificates. An awesome idea and the artwork is fantastic! And worth so much more today than in 2016. This is seriously the coolest conversation starter to have on a shelf in the living room. But there is no way I would buy this many XMR at market price right now.
They are absolutely beautiful
Created by a Legendary Member of the forum named Smoothie, this was his process for the creation of these XMR coins.
1. Base64 Keys generated on a air-gapped computer
2. Keys cut and assembled into coins(?)
3. XMR address given to customer
4. Customer funds coin address & I confirm the coin is funded
5. All information except private spend key is transferred burned to a CD to be transferred to a live node.
6. View only wallets for addresses are created on live node and extracts output_public_key, index, amount, and tx_id for each output from funding from the monero blockchain and burned to a new CD.
7. Both CDs are destroyed and never used again.
8. Air gapped computer:
a. calculates key_image for each output
b. hashes all output information (as denoted between the tag lines ----START---- and ----END----)
c. uses that hash to compute a signature using a degenerated monero ring signature (signs a single output with the private spend key, i.e. 1 sig per output)
And finally . . .
9. Private spend key is then destroyed on air gapped computer once key images and signatures are created and is funded with the face value of coin.
He uses a very safe method for creation. There is a paper certificate example also posted on the thread.
The set comes in 3 coins. 100, 50, and 25 XMR tokens "in" each silver coin respectively. At the time of this post, Monero is trading at about 115 dollars USD. On June 4th, when that thread was created, Monero was trading at less than a dollar. WOW . . .
That would give the set a value of about 20,125 dollars.
At the time of posting, and I do not know if the price was ever edited to reflect market value, the cost of the set was 0.62 btc. That didn't include the cost of funding. I assume this meant that you would have to provide the XMR for the physical tokens themselves.
A couple more pics of various sets from the thread
That is one happy customer
It doesn't appear that the sale is active anymore. But I did leave a comment on the thread congratulating Smoothie on his work. Seems to me to be way too much money now to spend on these coins. I sure wouldn't feel comfortable sending someone I didn't know over 20,000 dollars of Monero.
Check out the post here: https://bitcointalk.org/index.php?topic=1499278.0
All images pulled from that same post.
I hope you enjoyed it! Drop me a comment and let me know what you think!
View my Steemit Board here!
