It is a common misconception that the Satori Coin Gi is not designed with resale in mind.
As long as the physical Satori Coin Gi's seal is unbroken, it is suitable for resale.
There are two private keys for your Satori Coin Gi:
Key #1 is printed inside the coin itself, and it is known to whoever owns and unseals the coin. It is also known to us temporarily during manufacturing. Keys are destroyed after successful delivery.
Key #2 is generated by the purchaser client-side, and it is printed inside the Redeem Kit.
For secondary market buyers, their experience is very close to their experience with our original coin: it is important they check that the tamper-evident seal on the physical Satori Coin Gi is still in tact. In addition, a buyer should be given a copy of the Redeem Kit to confirm matching serial numbers and to cryptographically confirm its validity and association with the physical coin using open-source bitcoin utilities or clients with the appropriate features. Understandably, performing certain cryptographic operations may be difficult for those who aren't advanced users, so we also provide easy UI that can be run client-side offline (https://satoricoin.com/pk-verify) and a guide (coming soon) for those who want to do so independently without tools authored by us.
Unless a coin has been opened, resellers will only ever know the Redeem Kit content (Key #2). It is not enough to redeem anything. A buyer need only check the tamper evident seal (as with our original Satori Coins) once they've checked the Redeem Kit's authenticity.
In short:
- Key #1 exists only in your Satori Coin Gi, and can only be revealed by physically opening the seal.
- It is important that the seal remains intact until you want to spend it. Once seal is broken, it is not suitable for resale.
- Key #2 is in the Redeem Kit.
- You could technically copy and share this openly to the entire world, and the funds would still be redeemable only by the individual who also owns the unsealed coin in hand.
- This key structure protects primary market buyers from our company taking loaded customer funds (since we temporarily only know Key #1), while still protecting secondary market buyers using the traditional tamper-evident seal feature.