How can you possibly verify a physical coin contains its bitcoin. Without breaking the hologram and sweeping the wallet?
If I were sneaky. I would buy a Casascius coin, Duplicate it. And sell my "chain of custody" coin, over and over again.
The only way i get caught. Is if someone opens their coin and sweeps the wallet. This alerts everyone else (if they are looking), that they've been had.
There is nothing particularly special about these coins to prevent duplication. And a huge $ incentive to rip them off.
I'm intrigued if I am missing something. People still buying these things, at significant premiums. Based solely on idea they aren't possible to fake?
I have asked this question in a bunch of places. And I would like to know why they are given such a premium. I spent 10 years in China. And went to a talk years ago by a researcher who uses pollen grains to track fake medical products coming from southern China. They change the holograms regularly, but it doesn't stop the fakes. And I think that pharma companies have more resources than Mike, and others, making these physical objects.
I don't understand the resale market for these objects. Would appreciate a discussion.
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source https://www.reddit.com/r/btc/comments/djf08s/physical_bitcoins_how_to_verify/
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