Bitcoin Forum

As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.

Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.

Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/

The creation of bitcoin banknotes is with the futuristic view that bitcoin could hit a million dollars in the coming years. At the same time its goal is to increase the bitcoin users all across the country even to areas without electricity, computer access and internet connection. This will be one of the reason why bitcoin will be increasing tremendously in value in the coming years but as long as its production is monitored and transparent then everything will go smooth.

With this new technology item introduce into the market it might have some effect on helping to raise the awareness of btc to more people. Since this physical note can attend to problem like transfer fee and from online to offline we can expect more demand in btc for the coming years if it is being adopt by public and crypto users.

Interesting in themselves and worthy of attention are Singapore banknotes with a par value of 0.01 and 0.05 bitcoins. While it is difficult to imagine how these banknotes will go as a means of payment, but how they can be used as bonds. The organization that issued them should guarantee their redemption at par value in the case of presentation for payment. At the same time, bitcoin, as everyone expects, should increase substantially in price. This makes it possible to use them in this capacity, than simply as a payment method for mutual settlements.
We see that new forms of application of crypto-currency are being created, including their combination with conventional cash. This indicates that the crypto currency is still developing and the possibilities of its application are still enormous.

Co-founder of Tangem here. The crypto value is on the Tangem Notes, inside the secure chip — in the form of a unique private key which is impossible to copy. You can redeem any Tangem Note directly to blockchain without a third party — using an open NFC protocol. We provided reference apps for Android and iOS (only Android can redeem / extract the value at the moment).

Tangem as a company does not hold any cryptocurrency associated with Tangem Notes — we're just developing the technology and making sure the banknotes are impossible to hack or tamper with at any point in the supply chain or in public circulation.

The redeemable nature of Tangem Notes mean you have to verify their current value over NFC when receiving them from someone you don't trust. We rely on the high and growing NFC smartphone penetration. Offline balance check will be available through trusted attestation, but for now an internet connection is required, because the app will check against the blockchain, using electrum nodes.

What I was able to deduce from the linked article in the OP, your note is suitable for users without any technical knowledge regarding Bitcoin and the underlying technology.

You say that the private key is stored in the card itself, and your app will connect to the Bitcoin network to check the balance or use the funds.

What I'm interested in is how you plan to protect the users' private keys (even from employees of your company)? This is important, even though the value stored on these cards is not so big.

It's just only means that bitcoin became more popular and very well known all over the countries and the blockchain technology has been more developed that's why they created this kind of bank notes that is impossible to hacked or tampered.

Nobody has access to the private keys, they are created by the chips inside Tangem Notes. You can't import or export these keys. You can't get them out in a lab, because the chip is an EAL6+ secure element. You can't hack the firmware — it's based on EAL6+ cryptographic libraries, has minimal attack surface and 100% audited both internally and by one of the best independent security groups.

Of course there's a limit to security and reverse–engineering labs in China get upgraded — we have a dynamic roadmap to improve security in anticipation of more sophisticated attacks and attack vectors.

Thanks for explaining this. I think it is an important point to emphasize, so the users of your notes can feel protected.

And, good luck with your project. I hope it can help promote and popularize the usage of bitcoin, which can only be a good thing.

Does that mean that the notes don't have the Bitcoin address printed on them? If not why was it done that way?

Anything printed is trivial to counterfeit. When you validate a Tangem Note over NFC, there's a cryptographic challenge–response authentication which is impossible to fake. In a few milliseconds the app gets the public key and a proof that the private key is on the chip, as well as another digital signature that attests the manufacturing authenticity of the item.

Since we already rely on NFC and the secure chip to establish value and authenticity, adding too many physical cues could decrease overall security by making people rely on them in some situations.

If we apply Tangem technology to national cryptocurrencies, governments can limit redemption of the crypto banknotes they issue to accredited agents that guarantee physical destruction at redemption — then people can rely on physical properties for those banknotes.

A Singaporean startup developing ‘smart banknotes’ for cryptocurrencies has launched sales of physical bitcoin banknotes with a pilot in a major Singaporean mall.

Describing itself as a ‘smart banknote platform’ that manufactures physical notes with denominated values of cryptocurrencies like bitcoin, Singaporean firm Tangem has debuted ‘Tangem Note(s)’ in a pilot launch at the Suntech City shopping center in the city-state today.

The ‘banknotes’ will carry their value in bitcoin on a chip inside each note and are available in denominations of 0.01 BTC ($98) and 0.05 BTC ($485) at launch.

The hardware inside each banknote – it isn’t made of paper – is a Samsung Semiconductor S3D350A chip which, according to Tangem co-founder Andrew Pantyukhin says, ‘addresses all known attack vectors on hardware and software levels” on a Medium post. The accompanying cold wallet is “uncopiable”, Tangem says, while its co-founder insists the hacking of a single banknote would prove ‘uneconomical’ and would only be restricted to a single banknote even in the event of a hack.


Image credit: Medium/Hackermoon
Each banknote costs the company $2 to manufacture. The co-founder says the company is ‘making millions of units now’ in a bid to facilitate crypto transactions that are “immediate, free and anonymous”.

Pertinently, transferring ownership of the notes and their value in bitcoin is instant when the banknote swaps hands. “Physically hand over the whole wallet together with the blockchain private key. No transaction fees, no need to await confirmation blockchain,” Tangem states on its website, adding that each note will be NFC-enabled, allowing a user to instantly verify the validity of the assets contained via a smartphone.

With bases of operation spread in multiple places around the world – its global headquarters is in the Swiss town of Zug, commonly known as ‘Crypto Valley’ – Tangem has plans to distribute its banknotes globally following its launch in Singapore.

‘As Singapore sets the lead, Tangem is delivering the first shipment of 10,000 production notes to prospective partners and distributors around the world for commercial pilots,’ the company said in a press release.

Thanks. I've just been having a look at your website. It looks to be a very interesting development, good luck.

I think it is possible that Bitcoin money will not be released into a shoe currency, there are now many people who invest in Bitcoin because there is a desire to be accepted in many countries around the world, I think there are many co The world has good growth but Bitcoin is still a developing currency in the world and is in 6th place.

yes with this new technology item introduce into the market it might have some effect on helping to raise the awareness of btc to more people. Since this physical note can attend to problem like transfer fee and from online to offline we can expect more demand in btc for the coming years if it is being adopt by public and crypto users and  Interesting in themselves and worthy of attention are Singapore banknotes with a par value of 0.01 and 0.05 bitcoins. While it is difficult to imagine how these banknotes will go as a means of payment, but how they can be used as bonds. The organization that issued them should guarantee their redemption at par value in the case of presentation for payment. At the same time, bitcoin, as everyone expects, should increase substantially in price. This makes it possible to use them in this capacity, than simply as a payment method for mutual settlements and we see that new forms of application of crypto-currency are being created, including their combination with conventional cash. This indicates that the crypto currency is still developing and the possibilities of its application are still enormous.

If it requires an NFC connection to chech the current balance, why the banknote is different from a mobile wallet? It's only that if you hand it over, it does not require a transaction to wait for? If the lightning network starts there will be no (or very short) time needed to the LN transactions to complete.
Maybe the only thing which is different is the anonymity if someone hands over the banknote and this has no track in any database...

You do a beta test with bitcoin and after you can start to work with national currencies?

The fact that the private key always remains secret in the chip means that they seem to be made for handing them over like you would a bank note.

They aren't really notes but cards:

https://tangem.com/assets/images/image04.png?v51307406855251

The problem I see with that is that they are selling them for $199 for a pack of 10 unloaded cards. So who is going to want to hand over a device worth $20 when they spend $100?

They look like a pretty cool hardware wallet but I couldn't consider them bank notes.

This is like handing over your trezor or ledger nano S :)
I know it's easier to handle for a person who is not so tech savvy, but what in the other topic of this I've already asked the founder: what happens if I have this banknote (card) and by the time when I want to hand it over, the secure chip fails inside? I know that the coins will still sitting on the blockchain but how I can move them if I can't make a backup?
If I lose it, then it's the same like I lose a real banknote, because it's my fault, but if there is a hardware fault, that's not the same...

From what I've read on their website there is no backup so if it fails or you lose it then you cannot get the private key to your funds any other way. This is what makes them different to other hardware wallets, the original owner has no access to the funds, only physical access give that.
This might be usable like a banknote if they were priced at a few cents rather than $20.

I think that if they improve their idea a bit, they can change this into Bitcoin cards you can make payments with, much more secure than the smartphone, clearly, and you don't have to get your Trezor with you.
On the other hand, compatible readers need to also be deployed in shops, I guess.

However, the idea is interesting, but it's too expensive. And backup option is a must.

I agree with bitcoin ATM, a few months ago Singapore sold a lot of ATM bitcoin, and it was all run out. because the popularity of bitcoin is already high. then a stupid statement if anyone says that bitcoin will die.

but I do not agree if bitcoin has a physical shape, such as paper or coins. this is a bad innovation, bitcoin will lose its character. so bitcoin is not a digital currency again.

I think, they have a conspiracy to eliminate bitcoin in an interesting way.

I do not think that Bitcoin can become a paper currency, many believe that the development of virtual currencies is uneven, and many social states are experiencing economic conflicts. The development of virtual currency such as Bitcoin meet.

Tangem Notes are completely trustless and decentralized beyond the multi–party security audit — in fact more trustless than any other current way to store Bitcoin. The chip is a tiny standalone HSM designed entirely for mission critical security applications and is completely air–gapped with just a tiny API to access it. You don't need anyone to guarantee their redemption as you can redeem Tangem Notes yourself with an NFC phone using an open protocol — or our reference apps (iOS open–sourced, Android to be open–sourced).


Tangem Notes compare to mobile wallets same way fiat banknotes compare to mobile banking apps. Except mobile banking actually has banks behind them, while mobile wallets are relatively insecure. For most people without a background in engineering and security Tangem Notes are by far the safest way to store Bitcoin right now.


We want entrepreneurs, financial organizations, and governments to use the base Tangem technology for thousands of different tokens, currencies, and applications. It looks like Bitcoin will be the flagship for at least a long while.


The price tag is just for a limited edition Pioneer Kit for people who want it now, while we're rolling out normal distribution channels around the world, which takes time. The Pioneer Kit also comes with additional features which makes it useful as a highly secure hardware wallet. For retailers the cost of a basic Tangem Note is designed to nicely fit within their margins.


The chip and firmware inside every Tangem Note is designed to be secure not just against hacking, but against sporadic failures. The secure element should survive magnetic fields and pulses as well as cosmic rays better than most other electronics. It is rated for at least 40 years in operation, but is expected to last much longer than that. We apply extreme mechanical and RF testing, targeting CQM and other standards compliance.

In short, value stored on Tangem Notes should be orders of magnitude safer than that on exchanges, cloud wallets, hot wallets, cold wallets, or paper.

Thanks for that explanation. Can you expand on what the additional features are and how the basic version will differ? Also what ballpark price range are you talking about, say per 1000 units?

So in theory, the cards always represent the value of BTC stored on the card, but you can never use it for payment... if the value is lower or higher than the amount stored on the card. The bitcoins never leave the card, right? So this is more like a collectible than a currency and a store of value. < It can be a currency, but then you have to pay the exact amount, stored on the card?>

Or... Do you use it as a hardware wallet, where the coins are continuously funded and used as a currency, but the content of the card is accessed and changed via a NFC phone?

I am still trying to figure our how you going to use this.  ???  <Can you make a little demo video?>

very good! this is exactly what is needed for cryptocurrencies to get closer to normal people. Get the services closer to them so they can get bitcoin and alts easily and get immersed in this cool tech :)

No, you can spend the value held on the card. You need an NFC able phone and the app can then verify the balance and spend it. They are reusable as you can top them up. Have a look at tangem.com they look pretty cool if the price becomes reasonable.

Yes, I found a video on Youtube now, explaining it. <Not by them>

What I cannot understand is, if these cards are expensive... why would you want to discard them... once you used them? I cannot see on their site what the cost of the cards is. Is it supposed to be disposable or is this more like a cheap hardware wallet? If this is like a cheap hardware wallet, then I will buy some of them.... the hardware wallets are expensive and the firmware updates is a pain in the ass.

How will governments react towards this? Is this not like "printing" your own currency? <You not going to cross borders with physical cards>

We're working with distributors around the world to figure out the right feature set and volume pricing. Aspects of reusability can be restricted in the basic variants meant primarily for physical circulation and fixed denominations.

The ones in the Pioneer Kit are more like full featured hardware Bitcoin wallets, only more secure, simpler to use, and much cheaper.

This will be very helpful not only to normal people but specially for people who have bitcoin and travel a lot. You will be able to convert your bitcoin to fiat easily.

This will be favorable to us.

Also perhaps other people would be curious on bitcoin because of the new technology.

They are selling a limited edition Pioneer Kit of 5x 0.05 and 5x 0.01 unfunded cards for $199. When I pointed out above that only makes them suitable as a hardware wallet I got this answer.


If that means they eventually end up being a few cents each then they could be used like bank notes and people would just hand them over. If they end up being more expensive then they'll be a handy credit card sized hardware wallet you can just stick in your wallet with your cash and cards.

---

OK, very interesting. I'll keep watching to see what they end up being.  ;)

Well, this spells nothing good for other expensive hardware wallets, like Ledger and Trezor.  ;D  <Though these wallets still have the advantage over these Bank notes that they support multiple Crypto currencies> On their website <side demo> it shows something that says, "Remaining Signatures : 999" ....so they have a limited use.

The $20 per card is still cheaper than most of the hardware wallets out there, but very expensive for people in 3rd world countries. <Which I had hoped that this was targeted to>  :(

The $20 is for the special limited edition set. It says "Fully reusable, unlimited times". So that is good value compared to Ledger and Trezor even as a one coin wallet.

Like I said if the limited use ones end up being a few cents each then that'll really work as a banknote substitute.

There is nothing new in this idea. If my mind serves me right, a few years ago there was a start-up called BitNotes (or something to that line). I don't know what's become of them but their idea was pretty much the same. They went for issuing paper bitcoins, so-called bitnotes, which were expected to facilitate the exchange of goods and services with Bitcoin. As much as this idea of creating paper bitcoins is loathed and hated by almost everyone in the community (because it effectively turns Bitcoin into a fiat currency), there is some rationale behind it. Technically, as long as paper bitcoins are backed up by the real ones which exist on the blockchain and there is a way to check every paper bitcoin for its blockchain counterpart, I see no big deal in that, especially if it could actually contribute to Bitcoin adoption in the real world.

But the problem is that there is no reliable and verifiable way to establish this connection, and whoever comes up with this idea and carries it out in practice, they will be tempted to issue more bitnotes than there are actual bitcoins. It had happened before with gold depositary receipts issued by the American banks in the 19th century as with the US dollars issued by the Fed after WWII (surprise, surprise), and is likely going to happen again with Bitcoin all over again.

yes you are right bank notes currently no longer need to be used when you use bitcoin you can include notes in bitcoin transactions, not only that all bitcoin transcations are also recorded in big snagat notes and open all can see it.

If you had read the thread you would have known that these are actually more like hardware wallets and you can verify that they are funded using NFC and a smartphone app. So it is not possible to issue more and there is no comparison with fiat.

For me, it doesn't look good. Why would we even need banknotes when we have smartphones in our pockets which can store our bitcoins securely? There are many well coded wallets for Android and iOS which are fairly easy to use. I understand that some people might have problems with using Bitcoin, but it's not that difficult at all if you are not interested in coin control for example. The number of available bitcoins on the banknote won't change so someone will have to scan it with NFC anyway. It's not really convenient.

https://news.bitcoin.com/bitcoin-smart-banknotes/

I read it just now through some other thread sharing the same information. So it is damn true that this is a great move and the concept is truly innovative. Likewise there is much more to it than just being the simple currency notes.


But you see that now you will not have to wait for hours to transfer and the transaction fees is also NIL. What I think every new change that is introduced has its own pros n cons. But if you see the advantages outweighing the disadvantages, then definitely the change must be appreciated.

There are OpenDime devices on the market already, and they recently seem to have developed a new version of their disposable wallet. One of the use cases stated is a truly anonymous transfer of large amounts of bitcoins totally avoiding any traces that regular transfers leave on the blockchain. For example, you want to buy something expensive and don't want anyone to know about that. You privately exchange this hardware wallet with your bitcoins in it for the thing you are looking for, and that's pretty much all there's to it. If you feel interested, you can search for a thread about these devices somewhere around here started by their developer and read about possible use cases in greater detail there.

It looks more like bonds. Well done first in the market in its form as bitcoin in due time. on the one hand it's good: they lie quietly in your pocket and you will not be taken away by any hacker.

Tangem’s bitcoin smart banknote could become revolutionary if people adopt it massively.
https://www.bitcoinmarketinsider.com/bitcoin-smart-banknote-launched-in-singapore/

The Singapore company Tangem released bitcoin-bills, which the developers themselves call "smart banknotes."  However, they are not made of paper - in fact it is hardware cold wallets with an integrated S3D350A chip from Samsung.  At the same time, the novelty has common features with traditional banknotes.  So, each bitcoin-bill represents a certain fixed denomination in BTC and can be transferred physically for payment.  In the company itself Tangem development is called "uncoolable cold wallet."

You can use bitccoin to insert a note in a bitcoin transaction and that's all the bitcoin transactions are also recorded in very large notes and all open systems can see them. 8)

bitcoin bank notes in physical form is most existing news in cryptocurrency market we can see more trust in coming days with this initiative add more positive price spike here on words

For some reason,I feel that this is a terrible idea. Physical notes would fuck up the entire the blockchain's recordings. Corruption would become worse,and before we know it,bitcoin may even cease to exist. This may seem exciting and futuristic thing but it really is not.

but it seems to illogical for me as the reason for btc was to make a cashless society but this company tries to issue banknotes which means to go back to start for me.

I have not thought about this: bitcoin paper money. When does that happen? If bitcoin is printed on paper money, it must be issued by the State and regulated in a stable manner. Now bitcoin is encrypted numbers that are not easy to know for their real value.

I was think of this the past few weeks , OMG I can not believe that there is someone actually working on this , That is just amazing . The idea is so close to what was in my mind but I am not sure if it is similar . What was in my mind is to make this Banknote process a  decentralized process so anyone in the world can just scan his BTC and use it , There was a lot of details in my mind , But ya this project is something close to what in my mind , Wish you luck guys .

How exactly? The only way for a transaction to make it into the blockchain is to get confirmed. In this case it means that a fee has been included and the transaction is as normal as any other transactions.

Calm down. It has zero impact on Bitcoin itself since these bills are cheap forms of hardware wallets containing a certain amount of Bitcoin. It might affect certain individuals in case of fraud, and that's really it.

Most importantly, these bills are completely being offered to the public as optional product or tool. If you don't want to use it, then you don't. No one will ever for you to use them, and they likely will fail in their purpose anyway.

I wouldn't even be surprised if one or more groups will buy up everything and use them as collector items.

I am not sure how this works but the news is exciting, Singapore is showing how things can be done, they will be holding bitcoin and print notes, which is quite brilliant rather than printing notes without any backing. With this trend starting i am sure more countries will follow this and we will have a bigger valuation in the future if that happens.

It's really a great initiative in Singapore and when bigger organisations come forward to issue such bitcoin notes,then it would attract more normal people who just know only about paper currencies.

That's what a impenetrable security is. So it is safe to carry it with you any time you want? By the way how much would cost a single bitcoin banknote would be? Does is have some sort of technology that it could connect to the internet and sync it's value to the current market? Bitcoin could gain massive supporters with these, people would able to understand more what is bitcoin if they see something like paper money but in a different and far more better.

Those news about the 4000 ATMS on argentina is FAKE.

I have some friends who are using bitcoins, some of them live on Argentina, and they confirmed it to me by their own. it is more than fake, there is not even a single btc atm in there.

The cost of Tangem Notes does not currently depend on denominations, although we might consider additional security mechanisms for very high value ones like 1 BTC. Currently we only ship 0.01 BTC and 0.05 BTC.

The Notes are always denominated in crypto, they don't need to be synced — an app can show their current market value.


Haha, the idea was there from the start of Bitcoin, I think, but it was really impossible to implement. The best the community could come up with was Opendime, which is great, but not user friendly and not as secure as I would like. Tangem Notes are made possible only with the latest advances in secure microelectronics in 2017, which finally caught up with blockchain and became powerful and energy efficient enough to perform Elliptic Curve Cryptography on an NFC chip.

Tangem Notes are completely decentralized, and can be used physically or digitally.


The BTC is electronically stored on each Tangem Note, so there's zero need for any centralization or protective regulation. It's all made safe with state-of-the-art cryptographic mechanisms.

heeh, sounds like those metal bitcoin coin from china, I`ve got myself one of them for $1 on aliexpress, it would be funny to have fiat bitcoin.

Opendime is perhaps closest to Tangem Notes in terms of ideology. Like Ledger, Opendime uses secure electronics in addition to insecure chips. Our goal is to make Tangem Notes by far more secure and easier to use than any other technology on the market.

It is a free market, isn't it? If this effort fails or takes some small niche (which is more likely), then so be it.


In my opinion, this innovation won't have any noticeable effect on Bitcoin. People won't start to use these notes all of a sudden, and I don't think they will turn into collectibles. They are not like Casascius physical bitcoins which are real coins made of silver and gold. The latter do have some numismatic value (well, at least I think so), but how many people do you know who collect credit cards? They are purely utilitarian in function and designed to be useful rather than attractive.

Speaking of corruption, it can't become worse as these devices don't add up much if anything at all to what we already have in this department. It is people who are corrupted, and there are a multitude of ways they can enjoy their corrupted nature without them. And honestly, I don't see how these wallets can fuck up the blockchain if nothing gets written to it. Care to explain?

So, is there any way for the company to retrieve lost cards? Knowing people, they would lose these cards or it will get destroyed. <Wallet in the tumble dryer scenario> or is this card indestructible?

I can just imagine that millions of these cards will be created and not a lot of them will survive over time. What happens with the odd Satoshi that are on these cards, if the fees to transfer them, are higher than the amount? 

If there was a way to do that it would mean the company had kept a record of all the private keys and that would be a serious vulnerability. That has already happened in the past with some of the later physicals.


It looks like these will end up being disposable and the idea is to redeem the whole value in one transaction. I don't see any reason someone would leave some dust behind.

I don't know about this new device and how the producer handles such issues, but with OpenDime what's lost is lost, and it's for good. However, with hardware wallets it is possible to retrieve the keys if your device malfunctions, though that doesn't mean that they keep the keys as such (meaning that someone from inside can steal your coins). If I'm not mistaken, they don't keep the keys themselves but you can still restore the key if you keep a seed to the key (or how it is called correctly). In simplified terms, they keep one part of the password to the key while you keep the other part, so in no way they can steal the coins from you.


In fact, it is not much different from you losing access to your desktop wallet for whatever reason, for example, due to a drive failure. Regarding dust in your wallet, you can always try sending the coins with no fees and then start praying eagerly.

These devices don't work that way.

From their website:


The private keys are only stored in the chip inside the 'note' and cannot be got at by you or anyone else. So if it is lost or damaged that's it, the coin is lost. In that way, they are similar to banknotes.

I don't totally understand the idea. As far as my understanding is concerned, it only makes things complicated. I think we just need to improve our current uses of bitcoin than having this. If it's up for security issues, then current hardware wallets could be safer I guess. I don't think it gives convenience.

Take some time to understand. If you can just hand over a note (or card) that the other person can quickly verify is funded then you don't need to pay a transaction fee or wait for a network confirmation. If these devices are cheap enough when they go into mass production they will be very convenient to use.

Seems a bit strange that the media (and the makers of that Singaporean product) seem to have forgotten that there already was physical Bitcoin. In fact, any reference to physical Bitcoin is assumed to talk about it (Casascius). They probably also would have forgotten that physical Bitcoin has already had its issues, at least in the US, when the makers were forced to stop minting them.

Always a collector's item today, still want to own one one day, but the price keeps getting beyond reach! Maybe these notes will also follow down that path...

I think they'll be OK if they carry on selling them unfunded. Unlike physical coins which need the manufacturer to put the private key under the hologram so assure it is funded these can be checked electronically. The problems they had in the US were related to running an unlicensed money transmitter business.

That's quite another revolution in the crypto world; i would just about love to have some BTC bills in my literal wallet, probably pay my tithes with it. Its a welcome innovation for me.

It's right that if the production is done in bulk it will be comfortable if done but which is my question whether it will be safe or allowed to be done in other countries than singapore? Like other countries that still have not raised currencies other than the dollar and local money and still has not received cyptocurrencies fully or legally?.

It is difficult to understand what your question is but I think the answer is there isn't any country that has banned the sale or use of hardware wallets.

Based on the article that I have read that Bitcoin smart banknote launched in Singapore as a new tool for mass adoption of blockchain technologies. It has the potential to improve the simplicity and security of acquiring, owning and circulating cryptocurrency. In this new innovation, Banknote looks good.

I have been dreaming and waiting for something like this to happen, I hope this happens and effects the whole world in the nearest future

At the same time its goal is to increase the bitcoin users all across the country even to areas without electricity, computer access and internet connection. This will be one of the reason why bitcoin will be increasing tremendously in value in the coming years but as long as its production is monitored and transparent then everything will go smooth.
Tangem as a company does not hold any cryptocurrency associated with Tangem Notes — we're just developing the technology and making sure the banknotes are impossible to hack or tamper with at any point in the supply chain or in public circulation.

I do think the infrastructure is being ramped up which is needed. The underlining technology is there we just need more infrastructure and adoption to see the whole market increase. What I would say regarding the bank notes is that I think it is bit of a novelty. The beauty of bitcoin is that is is massively divisible and can be sent cross borders. Its like taking a Ferrari and placing wooden wheels on it haha but I can see why they are doing it. It might help people who haven't been exposed to bitcoin before conceptualise it slightly better.

Nowadays bank notes are no longer needed when you use bitcoin you can enter notes in bitcoin transactions and not only that all bitcoin transactions are also recorded in very large notes and they are open in transparency and can see them in real time. 8)

Manufacturers of digital asset banknotes have launched bitcoin banknotes at a store in Singapore. Designed to make ownership and cryptocurrency circulation as easy as using paper money, they are currently available in 0.01 and 0.05 BTC denominations.
Manufacturers of digital asset money Tangem announces the launch of smart bitcoin banknotes at the Megafash Suntec City store in Singapore.
Tangem explained that their bitcoin smart bills are "Comparable to well-protected paper money" and "Quite cheap to hand over.

I understand that someone might feel that crypto will become more tangible with banknotes, but the truth is that cash is slowly disappearing from the society, why would crypto need to go the opposite direction? future is cashless

But that's the whole point. The aim of introducing physical bitcoins is to make Bitcoin more usable overall as well as expand its adoption and recognition in every backward corner of the world. Even if the future is cashless, this future is not in any way guaranteed to be Bitcoin-rich or Bitcoin-aware, so to speak. In other words, whatever helps the Bitcoin future to come about is good and should be welcomed. If cash is slowly disappearing from circulation, then more power to it. Physical bitcoins are there and ready to fill the void.

Bitcoin banknote are not like bitcoin paper wallets. Bitcoin paper wallets are bitcoin storage while bitcoin bank notes are bitcoin in paper form. Bitcoin banknotes are like money and it is not a storage. With bitcoin banknotes bitcoin can reach areas without internet connection or electricity. But since this idea is not so clear the bitcoin community is worried about its transparency and production.

It is absolutely impossible. Not only because of hundreds of technical issues that would arise, but more because of the idea that such modern currency would use such outdated representation. It would be absolutely inefficient and uncontrollable. I would say that this currency should stay in the electronic state, at best - on cards or phone apps.

The actual truth is, 150 billion banknotes are printed every year and growth is at 9% — much more dynamic than global economy.

Think about Tangem Notes as a familiar and secure physical interface to blockchain technology that enables more people to use it. Most of the «cashless» technologies you're thinking about are incredibly centralized and controlled. For actually decentralized ecosystems, a lot more tools need to be invented, scaled, and given to the people. Tangem is one of them.


The concepts of «cards» or apps you're thinking about are inherently backed by centralized companies. Crypto is about decentralization, trustless ecosystems, reclaiming control. People need to have finer grain control over their digital assets now and a smartphone alone cannot do it without siloed hierarchies.

I think bitcoin does not require physical form in the form of paper, bitcoin is better now and even if bitcoin in the form of paper money it will trouble the use of bitcoin.

The cashless society is something being forced on us by big brother government so they can watch every cent you spend. That's why this is a perfect antidote to that, Bitcoin can be passed from person to person without even the need for a blockchain transaction, complete anonymity.

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Read the thread. These are cards with an NFC chip in them. It is not impossible, these things exist.

it's really what you say, it's better that bitcoin like this is easy to use a lot of people and bitcoin is better also to be as a asset that can make people a better life

Great idea but not really that feasible with the logistics and architecture to be put in place for acceptance (at an early stage of course if idea takes off). But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too. Saying that, it is a good look upon the general uptake and adoption of Bitcoin, and maybe some of these cards will find their way into the hands of new people, who have only maybe heard about this magic internet money.. One question is, say if I have a 0.01 Bitcoin card gifted to me; I then go on to buy a coffee at the local coffee house, where does the change go?

The rhetorical fallacy of «cashless society» is really very simple. You're not getting rid of cash, you're replacing it with a behemoth monolith of an infrastructure which is catastrophically centralized.

We start in the ballpark of USD100 and USD500 bills because that's where the most demand is. They are not meant for coffee shops, but rather casual experimenting, savings, gifts, storage, transactions where fractions below 0.01 BTC do not really matter. They are meant to be spent physically, whole.

That said, a willing coffee shop will give you change in fiat. And we're working on another exciting solution to small payments.

  I do not see anything futuristic in this price growth of bitcoin. Many things that even 10 years ago were considered impossible are now used by people everywhere in everyday life. What to say if 30 years ago people did not even have thoughts about what the Internet is) If the process is relevant and progressive, sooner or later he will be come what is not.

I heard about a similar project from Australian young startups. As far as I know it failed at the stage of collecting collection investment for ICO and there was not a coffee shop, but a hair salon or a beauty salon like. Nevertheless, the project is interesting. So it would be very interesting to know what project you are preparing)

But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too

The application that they use says that it will erase the whole banknote or just a part of it based on the amount of purchase, but I haven't seen if these banknotes can be refilled, if it is used only once then I think it will be useless and will be too costly for the company to produce every time new banknotes.

From their faq: https://tangem.com/faq << Redirects to Google docs.
 

Technically they can be reusable but the business plan seems to be to make them in mass production numbers large enough so that they are cheap enough to be use-once disposables.

I am confused that how banks notes are going to work in crypto, I mean if it is something like paper wallet then it would be almost impossible to identify that the security credentials like the private keys are already copied or not? Or is it going be like some card system that will allow us to withdraw/purchase Bitcoins using that card through ATM machine? Since the whole system is based on decentralization, everyone must get the latest transactions data as soon as transactions are taking place.

The development is a flat hardware purse, on which a limited number of bitcoins are stored. The figure depends on the nominal value indicated on the "banknote". The device also has a built-in Samsung S3D350A chip. According to the developers, Tangem's cold wallets are protected from both hardware and software attacks.

I understand and support the Crypto-ATM's, however isn't the whole idea of Cryptocurrency to be paperless and completely electronic? Wouldn't Crypto banknotes defeat the purpose of that?

No. You've misunderstood both what these 'notes' are and the purpose of Bitcoin.

If you haven't already I would suggest reading Satoshi's original white paper.

https://nakamotoinstitute.org/bitcoin/#selection-49.4-49.211

These 'notes' are actually hardware wallets using NFC. It is the trust element that is important. You're not trusting that a bank will honour the value of a fiat banknote, you're storing Bitcoin on a chip.

Feels a little bit counter-intuitive. I mean crypto should replace traditional money and printing them makes them more traditional. But I agree that would raise awareness among less tech people

Thank you for that information and the link. I will definitely go and have a look at this and see where I've misunderstood.

After reading the whitepaper from the link that you've provided and reading the original article that the tread was based on, this is what I've come up with:

The purpose of Bitcoin was to eliminate the need for a third party which would entail a certain level of trust.

"What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party." - According to the link you've provided.

Also, with banknotes, there is the possibility of fraud, due to the transaction not going through the Blockchain, as Satoshi originally intended.

"...there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads." - Also from the link you've provided.

From what the original article, from Coingape, states: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
"The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018."
it will go directly against the original whitepaper, where the electronic method of transactions was essentially vetted by the Blockchain in order to eliminate fraud.

Perhaps we have both misunderstood, but this is what my understanding is after having read through both the article as well as the whitepaper.

The use of the word 'notes' is what is causing your misunderstanding. Replace 'notes' with 'cheap disposable hardware wallets' and it might make more sense. There's still a blockchain transaction needed to fund the device and another one needed to spend from the device. You wouldn't want to hand over your Ledger Nano S to someone else to spend the coin stored on it because it is too expensive but that is the same principle. These are just cheap enough to pass around if you want. Or if you want to think of it in the same way as the physical Bitcoins although they have really become collectables rather than useful to spend.

Ok. I understand now.

With that understanding though, I refer back to my point of fraud. What, then would stop someone from selling the wallet to 3 different people where only one will be able to use it?

I would suggest reading through this thread. There's a lot of information from one of the co-owners of the company that makes them.

In short, there is only one physical wallet so how could you physically give it to 3 people?

The hardware wallet is contained in an NFC chip on the card that is encrypted. The balance can be verified using an NFC enabled smartphone. That's why you don't need trust, you can verify the card you have been given is funded.

I'm not saying that the system and technology used is inherently flawed, and I understand the use of the NFC chips, however, taking into account human nature, wouldn't the hardware wallet open up potential avenues for fraud where the fraudulent 'card' or hardware wallet looks legitimate at face-value, and people only realize that they've been defrauded when they go and try to initialize the wallet and it does not work?

The smartphone app verifies the card is real and funded.

This is what happens when you don't read the thread.

https://bitcointalk.org/index.php?topic=3535973.msg36355447#msg36355447

I'm just playing Devil's advocate here, because there's surely a way for people to get scammed. It's been happening for as long has humans have been around. For example, if someone sells one of these wallets online and 3 people reply and say they want to buy it, the seller can say, "I need the payment before couriering it to you." The seller can then collect multiple payments for the same wallet, and send fake ones to the buyers. If that happens, the only way for the buyer to know if he/she was scammed would be to check the package when it arrives, but by that time it would be too late as he/she has already paid money to the scammer. I'm not saying that this WILL happen, I'm just asking, wouldn't the potential for it to happen open up in this case?

That's where the analogy with banknotes actually does work. You wouldn't send payment to someone in exchange for a promise of cash in the post. You would have to do it face to face to make sure the banknotes are real. The same goes for these, you need to spend them face to face so the receiver can verify they are real and funded.

Although printed on paper money, I think it's more worth mentioning as a member card that can only be used in one place
The initial expectation of bitcoin creation is that it can be used as a global currency, and bitcoin should not be tied to institutions why you make it more complicated by organizing it by signing up for membership before you can use bitcoin directly.

great. It makes a lot of sense for Argentinians to put their fiat to bitcoin and other crypto as the local economics is facing some serious struggle and there is a chance of massive dip in coming months.

We rely on the high and growing NFC smartphone penetration. Offline balance check will be available through trusted attestation

Does anyone else have the same feeling about this as me...?

In Singapore, issued the first "smart banknotes" bitcoin. The developers of Tangem presented bills of 0.01 and 0.05 BTC denominations. They can be used as an alternative means of payment and physically transferred from hand to hand. In fact, these are miniature hardware cold wallets into which the S3D350A chip, created by Samsung Semiconductor, is integrated. Developers call their product a "noncopable cold wallet."

Unlikely. I already explained that if anyone gets scammed like that then they only have themselves to blame. Who would send an upfront payment for something which you need physical access to be able it contains Bitcoin? Unless it was done with a trusted trading partner or with escrow it just wouldn't happen to anyone who know what they are doing.

Well, yes... You have, indeed, stated that, but as we see time and time again, this industry is rife with scams and, on the flip side of the coin, a massive education problem. So, essentially, you're saying that, should someone not understand the "system" as well as you, too bad, so sad it's their fault. Frankly, it's that attitude that hurts Crypto.

On that note, the flaw with these "Bank notes" is that they are still handled by human beings, so there will always be the human element to take into account and, as I'm sure you're aware, throw a stick in the wind these days, you're going to hit a scam or someone trying to take advantage of a lack of education. This is a problem; a very serious one. Until the community is properly educated(just as they are in Fiat currency; only after centuries of use and support from those who brought it to them in the first place and those who are experts with it), Crypto will probably remain to be seen as something to be avoided by the main stream because of all of these issues. If all you did was Google the sheer amount of scams over the centuries following the introduction of banknotes, you would see the reason I'm posing these questions to this forum; in the hope that there is someone who has more knowledge than me, to help educate me and quell my fears.

I'm not trying to play a game of who's more right, I'm simply putting forward an opinion that, as a large amount of this rest in the hands of humans, it is still open to dodgy dealings; that is all. You obviously have your opinion and it's one of: if you partake you better be ready to be scammed... Really? Surely education on Crypto is a better solution, rather than just a nihilistic view. Would you say this to one of your family members if they got scammed because they didn't know better and you, being an expert, didn't explain how it works to them?

So, in conclusion, I am looking for a constructive conversation, not a one sided view on the matter. I understand you have your view and opinions, but they aren't the gospel, and I hope you see that...

Your previous reply had been there sometime and nobody came along to agree with you.

I fail to see how any of that is relevant to the product in question. Tell me why someone is more likely to be scammed buying one of these than they are a Casascius coin on eBay? These aren't even collectable so there isn't even a reason someone would attempt to buy one of those other than from physical outlet. Your example of someone selling the card to 3 people just doesn't make any sense.


Any wallet is handled by humans. Scams can happen in any form. Describing that as a flaw is ludicrous. The fact that they can be physically checked makes them more not less secure.

Its good news for cryptocurrency. I think adoption on crypto to real world will become more common in the future. Cryptocurrency is the future our economic world and it will be growing more bigger than now.

It is just anotheed simple example of bitcoins development and popularity.

It means bitcoin successfully pass one more stem towards the bright future.

Another advantage of banknotes before online transactions is the developers call the instant payment and the absence of commissions. However, they also adopted all the shortcomings of other physical media, including the potential risk of theft and limited transmission range.

If the BTC is operating on a technology platform and is working outside like paper money, this is very complicated. And gradually lose the original features of the BTC, in my opinion if the BTC converted into paper money should use the national currency will be better. Use BTC only for cross-border payments.

This is a Bitcoin application that is popular. If Bitcoin wants to become a mainstream currency, more applications are needed.

Bitcoin bank accept notes is really amazing idea which is very effective in crypto currency world. When all countries accept bitcoin as their trading system, then it could be possible.

With this new tech item introduced to the market it may have an effect on helping to raise awareness of btc to more people. Because these physical records can handle issues such as transfer fees and from online to offline we can expect more demand in btc for the coming years if it is adopted by public users and crypto and Interesting in themselves and worth noting is Singapore banknotes with par value of 0.01 and 0.05 bitcoin. Although it is difficult to imagine how these bills will be used as a means of payment, but how they can be used as bonds. Organizations that publish it must guarantee their redemption at face value in terms of presentation for payment.

I don't think though that many people would take it since cashless transaction especially this is bitcoin's feature and convenience but still it is good to have an alternative currency when you are short on fiat money as long as the stores accept bitcoin as payment.

If it happens then bitcoin will get its physical id and it is really good.

Due to the fact that this new technology will appear on the market, this may affect the increase of awareness about btc for more people.

I think it would be a great step and i'm very glad.

WELL thats a good attempt, but the main concern is which business will be accepting the bitcoin notes and how valuable will it be,. Printing another currency note which is not the legal tender is in itself illegal and will be met by governmental repercussions, it the government allows circulation of these notes then its okay, but i doubt it they will there are way too many logistics involved, and the institution which will take the task to print the will have to go through way too much process to get it legalized

That's quite another revolution in the crypto world; i would just about love to have some BTC bills in my literal wallet, probably pay my tithes with it. Its a welcome innovation for me.

How is it not relevant to the topic in question? I am not saying that one is more prone to be scammed by buying one of these. What I'm saying is that the hardwallet is like a giftcard that has been loaded with 'money' already and someone can decide that they don't want to use it anymore, and therefor sell it.


The online wallets that are used in Crypotcurrency are secure only because it is keyed to you and only you. No-one else can access it without your private key. Also, with cold wallets, like the Ledger Nano for example, there are various conditions that one has to meet before accessing anything on the wallet. That being said, if one decided to sell their Ledger Nano as second hand, my previous argument would then come into effect. What would stop the  person selling the Ledger Nano from accessing the wallet after selling it to you, as the private key on that cannot be changed after initiation? This would further emphasize my point of a lack of education, as anyone who is sufficiently educated in using hardwallets, would never buy a second-hand wallet anyway.

There are various website to facilitate the buying and selling of unwanted gift cards already, so what's stopping those websites from adding these "hardwallets" to their database and facilitating the buying and selling of these? All one has to do is register the card on the website and post the add. Most of the time, payment is needed before delivery, so, as I've said before, one can collect payment from multiple people interested in buying the 'hardwallet' and send copied versions to the buyers, which are then only verified (or, in this case, not verified) upon delivery. People are willing to buy just about anything online these days in order to save the time and the effort of having to leave their homes.

Good grief what are you on about now? That is exactly what you were saying.


There's a smartphone app that you can verify the card with. The keys are inaccessible and you need to have physical possession of the card to redeem it. This is a system that makes it next to impossible to get scammed if you buy one of these.


It's totally irrelevant but you can reset the seed on a Nano S and if you buy a second-hand one it is essential you do so. These devices are completely different as the key is encrypted inaccessable



Why would anyone buy one online when they could make a blockchain transaction? These are only designed to be exchanged face to face. There's nothing to stop these sites advertising $100 bills and then sending out fakes ones. Is that a flaw in the concept of cash?

Bitcoin does not need banknotes! They are reviving the old problem, the fact that the organization must ensure that the value of this banknote.

Can't you read? No institution needs to verify these, that's the whole point of them.

Wow,  this is a great technological innovation. With the presence of this technology then the transaction with bitcoin will be easier. I'm sure if bitcoin continues to make technological innovations to simplify human work, bitcoin will still lead the crypto currency in position number one. I'm sure bitcoin will not lose its existence. With the existence of this bitcoin banknote can be more accepted by a country. I am sure sooner or later, one by one the country will accept this bitcoin in order not to lag behind in technology. Hopefully, this will soon be realized and more bitmin atm that spread all over the world.

I am very happy to hear this news. Hopefully with the presence of bitcoin banknotes are making my country more open with bitcoin so I can enjoy the benefits of bitcoin freely. I am sure if this is soon realized then countries will reconsider to give legal status to bitcoin. I became more excited again to invest in bitcoin. This proves that bitcoin will eventually be owned by everyone. Hopefully there is no polemic that prohibits this great technological innovation. In my opinion, this is one of the efforts so bitcoin can be a legitimate world currency like the dollar.

From this response, it's clear that you are not prepared to help out a beginner. Your comment has really put me off this topic completely. I feel like I've been talking to this guy this whole conversation: https://www.youtube.com/watch?v=g-zIbVEjVpQ

To other members: there are other newbies out there looking for help, advice, or guidance without wanting to be told that they're stupid, if you know what I mean.

I'm more than prepared to help a beginner but after I've already done that if they keep coming back with the same nonsensical arguments I tend to get a bit short of patience with them. Especially when it was clear from the beginning you didn't even spend a few minutes reading at least the start of the thread to where your misunderstandings were already cleared up.

This is what makes them different to other hardware wallets the original owner has no access to the funds. I became more excited again to invest in bitcoin.

While it is difficult to imagine how these banknotes will go as a means of payment, but how they can be used as bonds. The organization that issued them should guarantee their redemption at par value in the case of presentation for payment. At the same time, bitcoin, as everyone expects, should increase substantially in price. This makes it possible to use them in this capacity, than simply as a payment method for mutual settlements and we see that new forms of application of crypto-currency are being created

It would definitely be possible to use Bitcoin "banknotes" in this way, as bonds, but personally, I don't see a lot of purpose in that, especially when you can just keep your bitcoins on the blockchain while the keys to your coins in some safe place outside it. Really, what if this device fails or malfunctions due to natural wear and tear (or because of some other reason), what are going to do with it then, throw it away? Bonds as they are bring you interest, but what kind of interest these devices are going to give you? There's none, so they are pretty useless in this field of application. Apart from that, you don't need redemption as you can "redeem" the bitcoins in this device yourself.

These thingies are basically a hardware wallet (like Opendime sticks).

Well good luck with that! There are only 21 million bitcoins TOTAL and some of them already lost.
Printing money will not be that easy with bitcoin for you. You may happilly print US dollars, but not bitcoins.

right now bitcoin is the most popular cryptocurrencies even the digital currencies, and we all know that bitcoin is worked in digital, and i think bitcoin will 100% work if they use the blockchain system in digital, so if the bitcoin makes the banknotes i think it will n ot work 100% functionally

It might be a good idea to read the thread before posting that way you would stand a chance of having a clue what you are talking about. These are disposable hardware wallets denominated in 0.01 and 0.05 BTC. As each one will be funded once and spent once it is quite possible that over time millions of them could be used.

bitcoin bank notes in physical form is most existing news in cryptocurrency market we can see more trust in coming days with this initiative add more positive price spike here on words

Is this a good breakthrough for bitcoin? I myself do not really understand whether this is really necessary for bitcoin at this time. Because this seems to be useless if bitcoin users are still not too many and still many people who do not know about the bitcoin itself.

awesome that bitcoin has now its physical image this will be the beginning of a mass adoption of bitcoin and cryptocurrency.

That's quite another revolution in the crypto world; i would just about love to have some BTC bills in my literal wallet, probably pay my tithes with it. Its a welcome innovation for me.

Haha! Coming to you soon!


We hope so. People are visual, physical creatures and Bitcoin sorely needs better, human-friendly interfaces to use it.


About two billion people have heard about Bitcoin by now, but it's too cumbersome for most of them to try. The earliest holders of Tangem Notes in Singapore were predominantly first time users — and they are spreading the knowledge by showing the physical Bitcoin to everyone they meet and explaining as much as they can.


Fortunately Tangem as a business does not have to guarantee anything — the Bitcoin value is physically on the smart banknotes, inside a highly secure chip, and can only be accessed by the current holder.


I think right now Tangem notes are the safest way to hold Bitcoin in the world. If you keep it physically secure, it should work for centuries (40 years certified), but more importantly the private key does not have a copy. With almost any other way there's always a risk someone would have a copy and you could lose everything.

While Opendime is closest to Tangem in principle, it follows a different security model and is less friendly to the mass consumer, we believe. Nonetheless, we are big fans of their work :-)

the first such banknotes with a face value of 0.01 and 0.05 BTC were issued in Singapore. they are mini-hardware purses of cold storage, only they can be physically transferred from hand to hand and used as a means of payment. according to the developers of banknotes, they are completely safe and protected from external interference.

Some crazy idea.  When paying in this way it is impossible to get change.  I recall the comic news as gypsies near the market sold coins with a nominal value of 1 bitcoin.  Such banknotes can only be used for a comic but still useful and slightly valuable gift to a friend on his birthday.

This means that Bitcoin is becoming more popular and well known all over the country and the Blockchain technology has grown because it creates a kind of bank notes that can not be hacked or destroyed. I think if they increase their idea a little bit, they can turn this into a Bitcoin card that you can use to pay, much more secure than smartphones.

well i thinkit doesn't look good. Why would we even need banknotes when we have smartphones in our pockets which can store our bitcoins securely? There are many well coded wallets for Android and iOS which are fairly easy to use. I understand that some people might have problems with using Bitcoin, but it's not that difficult at all if you are not interested in coin control for example but i doubt it they will there are way too many logistics involved, and the institution which will take the task to print the will have to go through way too much process to get it legalized

well i think the infrastructure is being ramped up which is needed. The underlining technology is there we just need more infrastructure and adoption to see the whole market increase. What I would say regarding the bank notes is that I think it is bit of a novelty. The beauty of bitcoin is that is is massively divisible and can be sent cross borders and Another advantage of banknotes before online transactions is the developers call the instant payment and the absence of commissions

My opinion is that the bitcoin of a banknote is absolutely superfluous and useless. This is extremely inconvenient and not practical in terms of everyday use.

What is the denomination of banknotes in these terminals?Do you know?

I strongly appreciate the presence of this bitcoin paper currency. It provides a good sign for bitcoin to perform its function as a means of payment. This also becomes a breakthrough technological innovation that can bring bitcoin better known to the public at large. This also benefits the bitcoin because people's trust in bitcoin can return well again and many people choose bitcoin for transactions and investments. That’s a bit of my opinion about bitcoin banknotes. Hopefully, bitcoin banknotes is soon realized and socialized well.

Thank you! You can help already by becoming a Tangem Merchant and spreading the banknotes around while making a profit :-) https://tangem.com/sell


We currently print 0.01 BTC and 0.05 BTC. We're also starting to print other tokens. At the moment there are no «terminals» — these smart banknotes are sold and accepted manually. However, we're planning to manufacture certain hardware.

https://pbs.twimg.com/media/Dgr7Zb1WkAAj5Zt.jpg

That looks pretty smart but what does it do? Is it like an ATM or can you both buy and sell cards?

This is funny that they want to make new innovative things more close to the people by making them more similar to what they used to do before

It is very strange and unusual for me to think about those bitcoin banknotes, this is an attempt to make bitcoin closer to regular people

This is a cheering news for the cryptocurrency family. In Argentina with the massive 400 crypto ATM  in use now will increase the awareness and adoption of cryptocurrency as a means of  financial transaction. It is going to be a test case for the surrounding countries which will join once argentina is successful.
 

Why? Because banknotes are so easy to counterfeit. The world goes to that to get rid of banknotes, and not vice versa.

Read the thread you fool. These are not that sort of banknote.

I think it is not a good thing to do and that will be a big step backwards that hinders the development of society. If we use paper money, we invisibly fight against the 4.0 revolution and are moving backward with the development of society.

Therefore, I believe we should not issue bitcoin paper money, even technology can throne and we can transfer easily.

The whole idea might seem interesting and it certainly is but who is going to use these banknotes? I doubt that they will manage to get to mainstream. I know that people are trying to make sending and receiving Bitcoin easier but what's difficult in installing a wallet on your phone? They are so easy to use that there is no point in creating alternatives.

right, it would surely be the step backwards. Trend is exactly the opposite, we should be trying to avoid physical currencies instead of creating more of them from crypto ones

If you can just hand over a note (or card) that the other person can quickly verify is funded then you don't need to pay a transaction fee or wait for a network confirmation. If these devices are cheap enough when they go into mass production they will be very convenient to use.

Very interesting item, but i think it is some futuristic. The government does not allow BTC in many countries as fact... We need that regulators decide on it.  But i like this idea very much.

That's quite another revolution in the crypto world; i would just about love to have some BTC bills in my literal wallet, probably pay my tithes with it. Its a welcome innovation for me.I don't totally understand the idea. As far as my understanding is concerned, it only makes things complicated. I think we just need to improve our current uses of bitcoin than having this. If it's up for security issues, then current hardware wallets could be safer I guess. I don't think it gives convenience.

Of course, it is easier for people to understand their condition when they hold it in their hands. This is the real money they have earned, they will no longer have to think about the market and their value. That's a great idea.

Bitcoin Banknotes is coming to Singapore.
Banknotes denoted by bitcoin, namely 0.01 and 0.05 bitcoin - are determined by a chip containing those values. The chips developed by Samsung (which, of course, in its most recent results have said it has a boost from the creation of chips tied to pre-coded extraction).
The paper money is not really paper, it's also in the form of ATM cards. According to Tangem, the company's website is counted as "safe and reliable" with 20 years of digital asset storage (can use future use cases outside the currency) can not multiply The copy, or the company also said that the notes should only be touched with an NFC capable smartphone, ensuring that the note is 100 percent valid.

I don’t think it will be happen, even I can’t think how it can be. But if this happen, I wish it will do good.

This will be a good progress for bitcoin. and be good for the places with there is limited internet access. But there needs an authority to monitor how many banknotes will be printed and where it will be given.

At the same time the goal is to increase bitcoin users across the country even to any region. It is hard to imagine how these bills will be used as a means of payment, but how they can use them. This shows that the crypto currency is still developing and the possibility of its application is still very large.

This thing will not be able to get into reality. The main theme for using Bitcoin is virtual use. We will have manipulation with it. People everywhere want to make some crime things to steal your money.

It is interesting. But I do not think that it will be in demand with investors. But I think that such banknotes have a drawback that needs improvement - the potential risk of theft and limited transmission range.

as for me so they do not need, everyone already pays for the phone from the card for hours) bitcoin is the currency of the future which can afford a better payment method than paper money.

The path to recognition of Bitcoin as a fully-fledged currency by the governments of all countries is still long. The more so because some of the states simply banned cryptocurrencies. Such a decision was made, among others India, Russia and Bangladesh. Other countries allow their turnover, but they define the role of cryptocurrencies in the economy. This is because governments are torn between wanting to protect the monopoly of their central banks for issuing money and the desire to tax transactions concluded with bitcoins. Faced with this dilemma, they adopt different attitudes that can best be illustrated in a few examples:
- The Australian government considers Bitcoin to be property, such as a property or a car. Therefore, transactions in which goods or services are purchased through cryptocurrencies are treated as barter exchanges and an appropriate tax should be paid.
- In the UK, according to the current guidelines of the Bank of England, Bitcoin is treated as a foreign currency. Its exchange for pounds is not treated as a sale and you do not have to pay VAT on it.
- In turn, the Finnish authorities consider Bitcoin as a form of security. Transactions involving him are subject to the same tax as investments in other financial instruments.
As you can see, the states are very diverse in determining the legal status of cryptocurrencies. Therefore, the answer to the question of whether Bitcoin is money can not be unambiguous if it takes the legal systems of individual countries as a criterion.

Bitcoin doesn't need the banknotes, bankers, and banks need it.
Bitcoin and other cryptocurrencies have their own financial technologies.

This idea is quite surprising. It should be taken into account that it could take care of someone's own security after death or simply lose access to their cryptocurrencies. Also, the knowledge of people about Bitcoin and some awareness would be able to become much bigger if Bitcoin existed in physical form, but does not it contradict the idea of ​​Bitcoin? Bitcoin as a non-physical form of payment from anywhere in the world when we want and to whom we want without leaving home. In my opinion, at the moment, both ideas can't work together.

Bitcoin banknotes for me personally is something unbelievable. It is no need to create it. The walls are still very corrupted for Fiat money.

Just talking only about that part i cant even imagine that bitcoin would come into that point. Even though they would suggest or recognized bitcoin wont really work on this way. Its really contrary on its real purpose and feature which we do know it is on decentralization and having a bank notes will definitely removed that revolutionary feature and i guess popularity and support would be gone since it would just still act as a
local fiat money instead.

no . bitcoin will become more popular and legal as it is already have its own physical form .  but , i guess bitcoin can still be used globally because no one ownes it  , so overall it is still  a good idea .



sure bitcoin and other cryptos do already have thier own technology which is commonly known as "blockchain technolgy " but bitcoin will become  more indemand if it is partnered with banks because banks can maybe promote bitcoin to the public , thefor people wont have a doubts on using and trying it .

Not to destroy your positiveness towards bitcoin but those things wont really be that possible where Bitcoin would have already its physical form? No it wont happen yet 21 Million supply of coins wont really be that enough to be on circulation basing on the entire population in the world if it would starts to be regulated and come to think that creating physical form would definitely derailed out the true existence of bitcoin where it is based on digital aspect this is why theres no possibility for that thing to happen. It would just still remain on where is it now.



Banknotes can be used but I'm not sure will it be used as an entire banknote or it will be a digital wallet that will have balance inside it and this banknote can be filled?

You are correct it is a digital wallet. Yes, they can be filled but the plan is to make them one-time use, so a cheap disposable digital wallet.

There are no banknotes for cryptocurrency. It is yet to be made by banks. There are many other ways for changing cryptocurrency. Many banks in Europe have placed ATM machines for drawing money.All those people who have cryptocurrency accounts can use these machines.

4,000 new ATMs in Argentina? That is totally impressive! Do you know where it's possible to find a map where to find those ATMs? I'm planning a trip to Argentina soon.

by looking at these new tech items introducing bitcoin to the market it may have the effect to help raise awareness of btc to more people. Because these physical records can handle issues such as transfer fees and from online to offline we can expect more demand in btc for the coming years if it is adopted by public users and crypto and Interesting in themselves and worth noting is Singapore banknotes with par value of 0.01 and 0.05 bitcoin. While it is difficult to imagine how this paper money will be used as a means of payment, the organization issuing it must guarantee their redemption at face value in terms of presentation for payment. At the same time, bitcoin, as everyone expects, should increase prices substantially.

Check coinatmradar.com

But, they are NOT listing 4000 ATMs in Argentina. I am afraid it may be all the misleading news just to advertise their concept, which by the way (bitcoin preloaded coins/notes) was tried many times in the past and always by the end of the day requires that one trusts the issuer of such a note not to misuse their private key that the issuer knows too.

I do not think it's time to start releasing bitcoin in paper form. Not the time. The vast majority of people even involved in the cryptocurrency process will not know what a real paper bitcoin looks like and how to distinguish a real bill from a fake one. I think that it should take a few more years and over the years bitcoin in digital form will win at least part of the electronic market(e-shops). Only after that you can start talking about the bill.

Read the thread you fool. They are not paper and they use an encrypted NFC chip and smartphone app to distinguish a real one.

We are already tired of the bank notes and that's why we shifting towards bitcoins and digital currency to keep ourselves free from the banks and physical notes stuff. There is no need to again go back to old tradition and thinking of making bitcoins notes. Our focus should be on the development of more secure and easy to use wallets and how to keep safe our digital currencies.

Creating such banknotes would create another scheme.

Why would they have to make another banknotes?
Does this banknotes changes the market fluctuation when they produce it?
How much banknotes are they planning to produce?

With these questions already, it will give you a hint on why a digital money should always be in computer and not in a physical world.

 Bitcoins price is not tied to other objects in life we purchase with banknotes like we do with our own national currency. Bitcoin price is tied to dollar directly, not even fiat currency of any other nation, its strictly tied to dollar price, even while it was dropping in price for dollar it was going up on my country
because dollar gained value here.
So, basically there is no purpose of having bitcoin banknotes specially when you think we would require to make like "100 satoshi" banknotes or something for it to make sense since you can't make 1 bitcoin as a banknote. I think paper wallets to used as a cold wallet is a great option but banknotes to spend is not a great idea.

Just read the article and it seems very impressive as they have developer based on the Samsung chips for NFC which is for instant transactions but are they using the blockchain for sending transaction or any other internal third party service/application.
Can someone who has more knowledge tell us if this is 100% secure and has no backdoors so there is no chance to lose the funds?

Does anyone know how these could be used if Tangem stopped supporting the App?

Tangem app is open source. You can find it on the GitHub.