Bayside Corporation (BYSD)

[Iluvbbs]

After seeing your post, the bit coin encapsulation reminds me of how we now encapsulate US and World Collectable coins in tamper proof hard plastic. If I knew how to use a computer better I would send you all pics of what I am talking about. I will try to find you all a google generic example.

Hope this works : https://www.google.com/search?q=PCGS+20+double+eagle+ms+65+photo&tbm=isch&imgil=r2JYPijsJb37DM%253A%253BO8FLuopXAbH6nM%253Bhttp%25253A%25252F%25252Fwww.apmex.com%25252Fproduct%25252F7225%25252F20-saint-gaudens-gold-double-eagle-ms-65-pcgs&source=iu&pf=m&fir=r2JYPijsJb37DM%253A%252CO8FLuopXAbH6nM%252C_&usg=___DJ5fVqTO_JvBDts2j_MDtWWXpk%3D&biw=1280&bih=889&ved=0CD0Qyjc&ei=xqruVNPjJoO8ggSS44OgAQ#imgdii=_&imgrc=r2JYPijsJb37DM%253A%3BO8FLuopXAbH6nM%3Bhttp%253A%252F%252Fwww.images-apmex.com%252Fimages%252FCatalog%252520Images%252FProducts%252F7225_Slab.jpg%253Fv%253D20130612094442%2526width%253D450%2526height%253D450%3Bhttp%253A%252F%252Fwww.apmex.com%252Fproduct%252F7225%252F20-saint-gaudens-gold-double-eagle-ms-65-pcgs%3B450%3B450

I am a retired expert (we never really retire but I am over 60 and tired....LOL) in the field of collecting very rare and sometimes very expensive Early and Type US coins (anything before the civil war to the founding years of our country) primarily but I have to honestly say that once encapsulation started by both PCGS (Professional Coin Grading Service) and NGC (Numismatic Guarantee Corp) back in 1987......., It took a LOT of the inaccuracy of grading and pricing out of the trading and sale and purchases of coins between 2 individuals.

Why, you ask?? Because grading a coins current condition and preservation is so subjective between 2 individuals points of view and ultimately led to more NON transactions between dealer and customer than AFTER the grading services came into play.

The idea was that the 2 of us individuals would "accept" a third party's opinion as to grade and just accept it. In the case of the grading services, every coin submitted for grading must have a grade consensus out of a panel of 5 employed "graders" (Pros in the field). The grading services and price charts corresponding to these same encapsulated coins now makes probably 25% of the entire collecting hobby.

One of the greatest advantages of the grading company's lending a "grade" to the coin encapsulated is now that while the seller may be anywhere in the world and may not even have a photo of his coin but by telling me the type of coin it is and the company who graded it as well as the grade given to the coin, is that I can now just look at a price guide and make the seller an offer that he expects because he has already looked up what his coin is worth at today's prices.

People have no idea what crypto currency's are today but once that they see that, for a price (call it $269 like right now), they can actually own a physical item for their money..........then crypto currency's will explode in acceptance worldwide even more than they are now.

The crypto currency's can still trade the way they do today (merchant to merchant to customer, etc) even in fractions to purchase or sell stuff but in their minds eye (the owner of the "chipped" coin, they will have something to "think" about actually "exists" in a physical form even if it is only in a impenetrable vault located 1000 ft underground.

This is SOOOOO the tip of the iceburg folks.

Again, just my humble opinion and good luck to us all, but although the .999 fine copper (means no impurities in the metal) will NEVER be worth 269 bucks/pound......THAT is not important. It is the ownership of the "chip" in the copper that is worth the 269. Bit coins is even more of a brilliant idea than my hobby and business model of the past 50 years.......BUT the ARTwork that went into creating our US coins over the past 250 years is just as amazing to me. Some people love Monet and Rembrandt and will pay anything for them...even the unreasonable sometimes.

Me?? I love High grade uncirculated specimens of ANY US coin before 1865 and I have paid some nuts numbers for some of my $20 Gold Double Eagles (approximately 1 ounce of pure gold) all the way down to my Flying Eagle Indian pennies. It's all in the eye of the beholder. BTW, if any of you have collections you want appraised, send me a PM.


Bottom line, in my opinion, Crypto currency's need to be a tangible item for acceptance and not intangible like just an electronic entry in an account account somewhere

GO BYSD !!!

JMHO
Peace,
Steve