Bitcoin Forum

Do you think its a good idea to have paper Cryptocurrency in circlelation too?


Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!


Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.



So nothing wrong with cash cash is not a devil!

Nope.

A physical manifestation means that someone had to physically create it which means they had access to the private keys which means you have to trust whoever came up with them. That defeats the entire point.

Physical cryptocurrency is an oxymoron - it can't exist. Cryptocurrency is based on the idea that you can verify the state of the network by verifying each individual transaction and maintaining the full ledger. Now how are you going to do it physically? You can't print a private key and say that it's now cash cryptocurrency for obvious reasons.

Read "Introduction on Bitcoin WP", then you can see why Bitcoin must be a digital currency and not be printed as Paper Bitcoin.
Bitcoin WP : https://bitcoin.org/bitcoin.pdf


From the quote above, you must understand why we no need paper Bitcoin.

The answer is NO.

Cryptocurrencies are by nature and definition digital and decentralized currencies. Turning it into paper cash would make it's purpose useless and require someone or some body to oversee the printing or generation of this currency, and that, is where greed and corruption could stem from. This is exactly what crypto is trying to combat in the first place.

I don't support this.

Instead of gaining major steps forward, this idea of yours is a step backward.

Our society is getting high technology-based, there is therefore no need to get back to the crude way of doing business transactions with the use of paper bills and heavy coins. Digital currencies is the way to go. We are fast becoming a digital society and cryptocurrencies are the apt response to it.

With cryptocurrencies, everyone having their own private keys give the user the trust of responsibility over the funds. Even if it gets created physically it can't be used same as the currency. I've got a plan where we ourselves can create the currency(just a printed QR) mentioning the amount to be paid. It can be used only once, when the receiver scans the QR the fund needs to get recorded to the receivers wallet. This can be of limited usage, already might be there in use.

Bingo, couldn't have put it better myself.  And, I would add, even if you knew the paper representation of crypto was secure there's still no need for it.  One of the biggest advantages cryptocurrency has is that it can be transmitted around the globe in an instant with relative privacy and low cost. 

If you're the type of person who needs to hold your money in your hand, get some gold or silver or keep a lot of bills in your wallet.  Crypto is a completely different bird.

That's an interesting existential argument.  I'd say a paper wallet is a physical representation of crypto, but I suppose the coins don't actually exist on the paper.  Or do they?

Nah, no offense but I disagree with this. Imagine, if we make paper/coin btc or other cryptocurrency then where's now the uniqueness it possess which fiat don't have? Of course it's gone already, fiat and crypto would no longer be different to each other. If we will push this, the essence of being 'digital' will be gone.

Furthermore, there is also harmful effects to the environment assuming btc and all the alts in the market will make tangible representations. It will surely consume huge amount of trees and minerals thus resulting to further destruction of our nature.
It would be better if they remain as a form memorabilia only and not a valuable asset.

Coins and private keys are two different things. In Bitcoin a coin is an unspent transaction output, and private key gives access to those outputs. You can't put things like transactions and blocks on paper, because they aren't human-readable and verifiable, you'd need some device to read it and Internet connection to check it, but at that point you can just use Bitcoin software already. So, I'd say paper wallet is just a method of storing crypto, rather than being a physical representation of it - it's absolutely not usable as a currency.

I don't think so. Paper money is in decline while e-money rapidly increasing.

Source: https://www.ft.com/content/9fc55dda-5316-11e8-b24e-cad6aa67e23e

Soon, people who have access to electricity and internet won't use paper money or coins anymore.

Yes, Technology is tricky!
What If there is power electricity problems?

While asking about the electricity problems you should also think that without electricity it isn't possible to print physical currencies.

Technology is always tricky, and it always have alternate ways to make some evolution. One such example is our bitcoin and the blockchain technology.

Who will go to print the paper or created the metal of bitcoin? There will be a big question, and I think they can interfere with the process and I am sure that the government will want to do this. I don't agree if bitcoin has a paper like a fiat. The digital money is not like paper money that we use. Cryptocurrency can send to anywhere without any borderline. But paper money will have a border to send to a different country because we need to convert it into their country currency.

Government Can do that

Nah I don't think so. It defeats the sense of what cryptocurrency really is. Crypto was made when technology was advancing forward AKA most of the transactions were made through online management. Creating a physical appearance or existence for the representation of crypto is degrading its status as cryptocurrency. Besides, it's a waste of trees and other resources which could have been used in a lot more useful applications rather than using them to create paper and coins.

Then use a generator or UPS.

If there is a temporary power failure, then you won't be able to pay with cash either, since the shop's cash register/POS won't function.

IMO the argument for paper/coins/barter should be about remote areas, where there are no electricity or internet coverage. But still, isn't it better to develop those areas instead?

It wouldn't change anything if there's a paper cryptocurrency. What's the difference of it with fiat/cash that we use for our daily lives? Bitcoin was created mainly focusing as a digital currency and although your idea looks good but it doesn't fit its feature.

Banks won't work if there's no electricity.

I totally disagree with you on this point, Paper or printed BTC, ETH, and other cryptocurrency are against the crypto format, If it will happen then the uniqueness of this platform will be no more, then Blockchain system will get less worthy. so paper and printed based cryptocurrency will not match with the actual blockchain system. Not only that but also you can't get any security measures which you are getting by this system like your own private keys, the decentralized system will also not exist if paper BTC will come, Governmental regulation will come to this platform very easily. one thing you have to consider that day by day our technology is being developed so there is no way to look back anymore, so look forward and think outside the box.

It oppose the crypto functions intended for. Paper cryptos will be no different in paper currencies of each countries that determines and controlled by one state. The idea of having crypto is for a decentralised transaction, to secure one's identity. It's impossible to see it for circulation. Maybe like what BTC and other tokens have now for some coin collection can be possible for paper too in the future as paper collection with seals and encrypted crypto details.

I do not think it would be useful. For this to be valid, there must be a private key on the paper (maybe another system that can replace it, but it is not worth the effort for something small) and also it will be too risky. Stealing money will be very easy. Also, imagine that you buy something from the store and the price is 0.03561 BTC , how will seller give you the remaining money when you give 1 BTC.

What is the point of regressing back to a centralised system that requires trust, when you have blockchain which is supposed to circumvent these problems in the first place? Seems a bit counterintuitive to me, at least.

Someone has to be issuing these paper currencies, and despite the ledgers that cryptos operating on being decentralised, there will be a factor of centralisation of power as a result. You'd essentially have to trust that the private key written within the paper can actually access the funds in the address.

It's not worth it. Nor should it be done.

Tangible/Physical cryptocurrency isn't not that necessary. It is very dangerous and not secured enough. Cryptocurrency has its private transaction and maintaining quality trading. It should be always digital for its purpose will become ineffective anymore. We should stick at using digital crypto to ensure our security.

Technology is evolving very fast and we don't need to go back on the old days where we only use tangible currency just to pay for food, clothes, shelter and etc. We need to use technology wisely because we're now a digital society.

Cryptocurrency was created to be a digital based currency and means payment away from the traditional fiat system. Creating a paper Bitcoin or other cryptos will just idea and nature of cryptocurrencies in the first place.
Printing Bitcoin in paper won't provide a means for the total supply not to be exceeded and at same time make it cease to become bictoin but just another fiat currency out there.

Cryptocurrency paper? if you mean paper wallet we already have it and many people already use it to store their wallet as their freeze wallet. but if what you mean is crypto based on paper coins with real goods I think it's quite strange and can be controversial. because it could be considered to rival the flat. except that it was made by the government. and for what ? whats the difference with flat ?

The goal of a well designed economy, is to allow consumers to make transactions as efficiently, safely and conveniently as possible. And to expand the number of options consumers have, making it easier for them to create value, start businesses, save, travel, etc.

Paper money has advantages over digital money in that regard. Consumers do not need phones, merchant support or bank accounts to utilize cash. Paper money being an entry level, barebones, method of transaction opens certain doors and empowers business & consumers in ways that we sometimes take for granted. We've witnessed this in nations like india banning paper money, with severe negative effects on consumers and their economy.

I would 100% love if a form of paper based deflationary crypto were devised. It wouldn't necessarily have to be a serious big time venture. It could yield value even as a small social experiment, in terms of being an educational tool, while challenging traditional views and ideas people have about money.

Of course, printing your own paper currency or minting your own coins is illegal in practically every nation on earth. Governments hold monopolies over those markets and deter competition.

There could be loopholes around those restrictions. Rather than a direct paper currency, it might be possible to print a paper voucher which can be electronically exchanged for crypto. Vouchers may then be exchanged to make transactions. There may not be laws against that! Although I can't say its something I've put time or energy into researching.

Then it will become a scam money too in the future because the government will start controlling cryptocurrency and we will go back to the old system. Having a cryptocurrency online is the best for us, its convenient and very high in value and a super fast transactions compare to fiat money.

It will not be a scam since the shop owner has to verify if the papers contains money and has to transfer it immediately to avoid being scammed by the customer who already has the private keys and so on for everyone having this paper before!
Governments cannot still control it since they have to acquire bitcoin first which is different than just printing money..
Anyway, i don't see any point in the future for the usage of papers whether in education, administrations, currencies...

I think you misunderstood the operation of cryptocurrency. It doesn't work like digital fiat currency, it works on the concept of Proof Of Work (PoW). Whenever you make cryptocurrency transaction, it is broadcasted on blockchain and verified by the miners. So even if we create physical copy of cryptocurrency, only way to transfer it to others is transferring the whole ownership with private keys. It is not possible to transfer part of your cryptocurrency without rooting it through blockchain. So it is not feasible.

That would disrupt the whole concept of cryptocurrencies mate and it would even worsen the situations in the financial industry mate. It's best if we stick with the digital form of cryptocurrencies as pioneered by Satoshi Nakamoto.

It technically is already happening. I'm not sure if you follow the collectibles section on this forum, but there have been various initiatives in form of people issuing their own physical coin or paper'ish wallet, either directly loaded or they can be loaded by the buyer. They're used as currency too without anything even moving on-chain, which means that this form of money is fungible too.

In the end, it does depend on trust because the issuer of these physical means *could* have a copy of the keypairs or used an unsecure system to generate them, but it works. We have that evidence. Currently it's still a niche market, but it wouldn't surprise me if we get to see an attempt to get these to go mainstream eventually. The best thing of all, nothing the government can do about it. :)

If we implement this, we should just stick to the current system.  Why spend billions of dollars just to do the same thing?  Besides it is not worth doing given the risk stated by gentlemand (https://bitcointalk.org/index.php?topic=5188623.msg52598818#msg52598818).  If the monetary system needs to advance, then just advance and leave the obsolete way behind.  That way, we can avoid confusions and contradictions.

As I have mentioned previously, we are getting digital. Even the fiat system has slowly stepped out of the old way of doing transactions using paper bills and metal coins. If the current system which is basically an old system is aware that the digital or online version is the way to go, how much more to cryptocurrency which is, by design, a digital or electronic money or cash.

Furthermore, paper bills and metal coins are prone to faking and other shady processes. Bills and coins are faked, others are not faked but printed or minted without sound basis. This we cannot do with Bitcoin for example. Everything is transparent and can be scrutinized online.

Paper money was printed back in the day because there was no other method, when first paper money came out (compared to coins) there was no internet, there was no computers, which means they were forced to do it, there was probably a lot of counterfeit as well because even the technology to print unique papers were not around just yet.

Now, we have all the technology and all the improvements upon that and we should go back to paper? Not a chance, paper bitcoin or any paper crypto sounds silly, you have your mobile phones, you have your internet connections almost anywhere in the world and you have all the good things you can have as innovations, we should just send each other money via with couple clicks without worrying about carrying stashes of money with us.

I would say opinions vary

There was a startup a few years ago which came up with an idea of paper bitcoins called BitNotes. What's become of them? Regardless, this question had been extensively discussed a few years ago, and personally, I don't find this idea as disgusting as many others come to think of it, at least as long as these paper bitcoins are "provably fair", i.e. you can always check whether a particular paper bitcoin is actually backed up by anything on the blockchain (and in the same amount). I think it is technically possible to lock these "real" bitcoins until the paper tokens representing them are destroyed or otherwise redeemed

I really agree with those guys who express their opinion that cryptocurrency in paper form sounds very stupid.  I believe that the author, who could even suggest such a thing, just wanted to make a joke.  In any case, each of us must realize that the initial task of digital money is to offer users the possibility of cashless payments.  This is practically one of the most important tasks.  I am sure that paper money will go down in history together with the current generation of people, because only the new generation will be able to use cryptocurrency in full.

There are many people saying and suggesting that we should have crypyocurrency in paper. Are we really sure that some country would have like this kind of thing? what if there would be future problems in terms of transaction? I think bitcoin is created for us to have a cashless payment and cashless transaction but we would like some having in touch with our transaction. Before we have this kind of cryptocurrency lets have a knowledge of what we are doing to have safe and good future.

No, it doesn't. Cryptocurrency must be a digital currency. If it will ever exist (which it will not), then what's the difference from fiat currency?
What I think is a good idea is to co-exist with fiat. Let them both exist, a medium that can be used physically and digitally. Although this also perceives many problems, because the majority of people will lean on digital currency, the problem what most of us probably experiencing is its instantaneous accessibility. And fiats, for now, fulfill that.


Is this supposed to be a Bible reference?

thats only an evidence that majority are not contented with cryptos being online alone but they wanted to see and feel thier cryptos physically on the offline world not just that but it also brings other benefits like instant transaction and no fees  . this will be really helpful on the countries that are not develop or dont have internet  .  i will definetly support this function  . look at fiats  , they have physical form but they also have the ability to function online  .

it would be unfair if cryptos dont work in a dual purpose.

He nails it though. I wouldn't see fiat being a problem at all if the monetary system wasn't as toxic due to rogue governments. In other words, the tool isn't the problem, just the one issuing it irresponsibly.

Fiat is the most convenient and efficient form of money. Bitcoin and other crypto currencies are nothing but a wet dream of people to replace fiat in the future. Right now they are horrible forms of money, and that is almost every aspect.

Another thing is that people don't want to spend something that appreciates in value, which applies to Bitcoin and gold. Fiat on the other hand is something we are incentivized to spend due to inflation.

This cannot be done because of the counterfeit. At our current time where only a few of us know the existence of Cryptocurrencies, only a few people will know how Paper bitcoin will work. Most of the people in the world don't even know what may those things are. they may tell you that you're paying with a receipt.

What I understand regarding the situation of Cryptocurrencies in our time is, they are not known yet to most of the people in the world. So what we need to do now is don't rush into something we don't have a plan especially with the Cryptocurrencies rather everything we do, are needed to be calculated at some point.

We still need a lot of work to do, in our country alone there are many people who are victims of the Ponzi scheme in the name of bitcoins. we need to educate these people at some point and another after that, we can proceed with the things that can improve the use of bitcoin.

There is no cloud without a silver lining

If people prefer to spend fiat, say, the dollar instead of Bitcoin, it basically means that they value the latter higher than the former. And there should be a reason for this. So we can't actually say that Bitcoin is a horrible form of money per se. I agree that it sucks as a currency while fiat and more specifically, the dollar, shines in this department. But if we don't consider a currency aspect of money as the only one or the only important one, Bitcoin may not be that bad after all (for example, as a value transfer vehicle)

Doesn't that violates the whole basic idea of cryptos which was the fact that no one can create it or no one can control it. Moreover transferability too will be hampered with this. Think for example you have one person giving his paper btc to other how will the actual transfer over blockchain take place?? Even if you say that there would be some central authority holding all that in blockchain and issuing all paper currency against it then congratulations we are just back in fiat because even the fiat currency today started with this experiment when it was removed from pegging against the US dollar.

It is the same as transferring the ownership of private keys

The implication being that there is nothing wrong in this on its own. When you give somebody your private keys (and no, you don't necessarily need to know them yourself), quite expectedly nothing gets written to the blockchain. And in fact, it can be a good thing as far as anonymity is concerned. Or bad, depending on which side of the anonymity "fence" (or rather barrier) you are on


You don't need a central authority for that. In other words, if these paper bitcoins are backed up by real ones, we will be back to a form of gold standard (let's call it Bitcoin standard)

Well it can be a good idea too since bitcoin becoming popularized and becoming more and more than we expected well sooner or later it will turn into a real life fiat or the paper money, which in that case will be a good idea for some, and the bitcoin we know will now be a noticable instead of anonymously.

It should better if cyptocurrency stays in online for online transaction like trading, investment and more. And leave the paper currency or basically the fiat in physical for daily transaction. Cryptocurrency is decentralize if it does printed in a paper then it wont be classify as decentralized because it will be manipulated by government. Transaction will never be anonymous and it will now able to track down.

I picture of it as a paper with encryption or has the ready to transfer cryptocurrency ( I don't know if we already have that ) but there is a huge problem how would the government allow this kind of transaction? We kind of like tax evading. And who will be the regulator of this if we still want it untouch by taxation?  Who are we going to call if we got scammed? NONE. If this will going happen ( very vague ) this won't be cryptocurrency anymore as we already using it physically.

No it is utopia.How it can be done who will manage all that paper money
Cryptocurrencies are digital money and will stay like a digital money
Main idea of cryptocurrencies is decentralization .How to imagine decentralization with paper money

I think counterfeit is the last of bitcoin papers worries. We are talking about a paper that could not be replicated as something filled with crypto, you can print any paper you want make it look as legit as you want but a person could just type in that key and see its empty, this is not something you just take and say thank you and leave.

This is something you check each time and you could do a QR code paper or key phrase paper or whatever you want but in the end whoever you end up giving the paper would be able to check if there is any money in it by a simple search on blockchain. Considering there would be waiting times and useless checking process and acceptance, digital is much much better so even when not a counterfeit it takes way too long to accept paper crypto.

May it paper with encryption or not, the point is that someone already knows the private key of it when someone could produce it physically. That's why it's better that cryptocurrency should stay as a digital money and also sending cryptocurrency around the globe is much better than sending money using fiat.

Paper money is the old way and it should be left behind.

• It's inconvenient to carry
• easy to counterfeit
• easy to lose
• easy to steal
• burns and gets damaged
• you have to count it manually which makes big transactions bothersome

I don't see any benefits of having crypto in paper form. Physical coins are a nice collectible and that's all. Nobody uses them to pay for things. You can probably use them as collateral and that's it.

We need upgrade system with bitcoin and altcoin become accept in any shop with many country, need paper for bitcoin or other altcoin is very good to make bitcoin most easy to use as transaction.

Agreed with this 100%.

Once you convert cryptocurrency from digital form to physical form, many of its advantages will be lost. For example, it becomes easier to counterfeit physical coins and banknotes. In the past, a lot of people have tried to convert crypto from digital to physical form, starting with the Casascius coins in 2013. But they were not very successful. Mike Caldwell was the one who created the Casascius coins, before a directive from the Financial Crimes Enforcement Network (FinCEN) forced him to shut down the business.

The method used for creating the Casascius coins were simple. A piece of paper with the private key is embedded inside the coin, covered by a tamper-proof hologram. In order to redeem the Bitcoin value, the hologram needs to be broken, and therefore the user can be assured of the value of the hologram was not damaged. Caldwell claimed that it is 100% impossible to redeem the BTC, unless the hologram is peeled off. He had even included an anti-tampering measure on the holograms.

But here, the user is trusting Caldwell, and hoping that he will not try to redeem the coins sometime later.

Consider the amount of risk involved when you are carrying the private key of your bitcoin wallet in papers, the solution is to hold a certain amount as tokens and a centralized authorities can print paper currency with bitcoin as a back up valuation and put into circulation but whether any government will allow those is another question.
The closest thing we can have is a prepaid crypto debit card and it is available now.

It is a very bad idea because every government is thinking of how they can eliminate paper fiat, and this is why they are doing everything possible to promote cashless policy and with the Rotten that we have in fiat is why cryptocurrency was created, having a paper cryptocurrency will still eventually take us back to that old fiat system of using paper and you know that anything that has to do with physical  paper will not rely on technology alone which the use of Bitcoin is meant to be digitally base.

I personally don't see any much sense in making a paper cryptocurrency, instead of that, better we leave the fiat for those who would not be able to use cryptocurrency, while we that can use cryptocurrency stick with its digital usage.

I do not agree with this, if we will be having a paper money,companies will need our details and information, also the anonymity of having a cryptocurrency will be exposed, government will also regulate the printing of papers, they can also know and track the every single distribution of this paper money. In terms of accepting in any shops, some of the shops are accepting cryptocurrency now, you need to scan their qr code and that's it, it can also prone to hoarding when we will create paper crypto.

Honestly, I'm not very well familiar with the current state of affairs in this department

And while the Casascius coins may have fallen flat on their face, heads or tails (I don't really know but let's trust you on this), OpenDime devices seem to be quite useful if you want to transfer large amounts of coins instantly as well as anonymously, without leaving any trace on the blockchain

Yeah, I understand that these USB sticks (what they essentially are) don't look quite like paper bitcoins or actual coins, but technically, they are physical bitcoins as they can be used as such. As they say (actually, Shakespeare says, so no plagiarism intended), what’s in a name?

I wont support this suggestion because paper money is a big scam and a big syndicate can easily create paper money to scam people. We have to stay online for a faster and safer transactions and that is only possible on a blockchain technology and that is because of bitcoin. If there's a paper money then I'd rather use the fiat money with a lower value, less risk at all.

I agree with this, every paper money has a unique code it can have a serial numbers with letters , if there will be paper crypto, government may be easily regulates it, and our freedom that we can do with bitcoin will be gone. we will be having a tax also, because government will be the in charge of this procedure, expect so many new rules and protocols that will be created, so Its a NO for me.

Having paper cryptoccurency feels like going against on its nature. It was made to be digital. Also it would be hard to monitor its price. Imagine having a physical crypto to buy things just how you buy things with fiat, but time to time it's changing its value so you also have to monitor it every time. And besides, it will still be hard to find shops that would accept it...

Though I don't say that cash is devil, but it's still the best for crypto to remain digital as what it is in the very first place.

I think it's simply a bad and discouraging idea. Having Bitcoins and other altcoins
into paper is going to make crypto look worthless and depreciate their value at
some point. It's going to be a classy disaster, it's gonna render cryptocurrency as
an unnecessary investment and it's gonna become a kind of ruination masterpiece.
It's better at it's current form as it is. Decentralized and still preserving the integrity
with it's reluctant anonymity.

Definitely not a good idea. Crypto was made and meant for online purposes. So why the hell you will make a paper crypto currency? For what? We already have fiat which is more convenient to use physically, while crypto is more convenient to use online. You're just destroying on what crypto should only be. Also, that will take too long to be accepted. Look at the current state of crypto in our society , there are still a lot who isn't favor or wanted crypto to be there.

I think bitcoin is important because of not printed and can not traced. Also bitcoin tranfer fee is lower and faster than money. İn the following years, governments will keep up with this technology and they use their own digital money. Paper Money will not be used. Bitcoin is valuable because of these things.

We will only lose the real essence of cryptocurrency. It will only turn out to be physical money if that happens.
What makes cryptocurrency unique is its security where we will only be able to access it on our own. Online transactions using cryptocurrency is actually convenient enough rather than using physical cryptocurrency. I would still prefer it to stay as digital money.

Also, at what point a person would want a paper currency over a digital one if they can use both? Imagine a world where your phone is your wallet and you are capable of paying anything with your phone (QR Codes made this possible but it is still not common) and you have paper currency as well and also cards you can pay. Which one would you prefer?

Even right now most of the transactions are via cards instead of paper in fiat currency and you are talking about a digital currency in itself, so when people are not even using fiat which is in default a paper money in paper form why would they use a digital one by printing their own? It is just not making any sense in preference.

If you asked if people should have bitcoin debit cards that would have been a good question but paper makes no sense.

I think "paper cryptos" will do great if there are easy ways to use them. You have to make them look like real money so that people will find them attractive.
In my opinion, people will accept such paper currencies if they see others around them accepting them. So, to make this work quickly you could create a small crypto community (or communities) within a city or town or rural area. A community funded by online Crypto community but trades amongst themselves with the paper cryptocurrencies.

The physical Crypto communities have to operate ideologically, just like their online counterpart in order to survive the authorities.

Sounds just like gold certificates. It could only be done through a trusted third party.

I'm seeing the emergence of bearer instrument-like devices, the most prominent of which is the Opendime. (https://opendime.com) You can plug it in to verify the balance and pass it around like cash. If the seal is intact, the private key isn't compromised.

Given the cost and risk of hardware failure, I'm not sure how tenable they are at scale. Pretty cool though! Especially because these are truly cash-like transactions. Physical, no paper trail, no movement on the blockchain.

Governments are even running away from these chunk of papers, because printing bitcoin in a paper will not be different from the way money is being printed and we know the issue that the printing of money has actually generated for most government, if it was possible for governments of every country not to print money, I am sure they would have halted it instantly.

Rather than halting it instantly, they are gradually encouraging the cashless society which in advanced countries, they are gradually eliminating the use of paper currency which many of their citizens are getting adjusted to, so it would just be like sending us back to what we are trying to eliminate, like you said, the idea of crypto is to be based on internet and I think it is best we leave it that way.

I totally agree, we are now in the era of being all digital and we should not get back on having a paper of money or even paper of cryptocurrencies. It is always better for us and for the society in overall to have an advancement in currency in terms of adapting to the influence of cryptocurrency and establish a payment system through the power of internet and blockchain only and not those printing mechanism.

1) It can't be helped (for now). People that utilize a form of money, naming Fiats, that can be manipulated by these so-called rogue governements(?) even if it's really convenient for citizens will have to accept these kinds of acts. Talk about politics, ugh. The government isn't transparent about this at all.

2) I agree. But the thing is, it's also the same very reason why people such as rogue governments, take advantage and use it for their own benefits. As for Cryptocurrency, you have this "freedom", you can use it however much you like.

3) I get that but why do you even invest in it if you will not spend it, per se.

Making digital currency to paper is just a waste of resources and will be completely non-sense. To start off, the price of bitcoin is volatile and it would be inefficient if the price that you hold in your bills fluctuates. It would be more of a burden than advantage to both traders, merchants and consumers. Second idea is that digital currencies are supposed to be transacted through digital means. Making fiat out of these makes it the same as the government controlled currency to avoid too much price action with monetary policies.

Bitcoin does not have a central bank or legal organization to even define it as a "fiat".
that definition of fiat is a currency legally recognized as a legal common currency and bitcoin is not. So this idea will be eliminated.

Another paper money, really? Not possible and it don't make sense at all. Cryptocurrencies are not created to work like that, were going digital nowadays and soon we will get rid of paper money maybe few decades from now. Paper money is old school we need to upgrade but not to downgrade. 

Third party is trusted, why we give our trust to government?  Coz they serve us they organize and gather!
Trust??  Its better long time income then just one thing!  Government serve and gather us but why they need to cheat or scam us?  If they get money just to be as middleman and collecting taxes.

Same goes for everything! 
Trust is always there coz third party making profit out of your sweat and Laobour!

If the third party will scam you then they lose you and If they lose you they lose their income!!

I do support idea of Paper cryptocurency!
Its good and will give even better to cryptocurency!
And its hacking proof!

u must be crazy enough to have that idea. listen, bitcoin is a eletronic cash system.you should be able to define it just from logo.
bitcoin or another alcoins doesn't need third party such as paper like real money, because all of cryptocurrency doesn't real, but have the real effect. paper wallet is enough, but no on currency itself.
its simple right ?

Maybe he meant a paper wallet here. I cant imagine if he meant a fiat with cryptocurrency value seems redundant already. If he wants a crypto, then he should convert his fiat to either bitcoin , ethereum, litecoin etc., or others that's simple. He complicates more with his idea, and its unnecessary.

Looking at his statement carefully, he really meant that bitcoin and other currencies should be turned to paper currency, and I am wondering if he really understand the whole concept of bitcoin and how we are trying everything possible to really eliminate the fiat system that has created a hard currency which people are using to destroy themselves now and the government are getting much  more corrupted because of the access to print money any how without limit which destroys the economy of a country.

The government themselves knows how bad a paper currency is, and like one of the mates said in this post that some countries are even trying all their possible best to eliminate it by creating some policies that will favor a cashless society more.

Paper cryptocurrency? Digital should remain digital to avoid manipulation from the government. We already have Fiat currency, so what's the point of having crypto to have paper version.

Oh, in fact there are many points

Paper bitcoins (or whatever) would allow physical exchange without anything going to the blockchain itself, ever. That would likely lead to higher awareness of common people about crypto and its advantages (you would be able to buy beer with it), thus promoting greater popularity of cryptocurrencies. From this perspective, it is a good thing

The problem arises when someone decides to create more paper bitcoins than there are real ones. But this issue can be dealt with if every paper bitcoin in existence means its digital version locked on the blockchain, the implication being that you can then spend only this paper bitcoins and can't create a transaction with their digital counterpart

Indeed. It will be useless to call cryptocurrency a digital currency if we will create a cryptocurrency that was made in paper or cash. The convenience of making transactions and great value of a cryptocurrency will be gone that no one would appreciate it anymore, that is why cryptocurrency will remain digital and will never be a cash or paper.

TBH, this is kinda unexpected, coming from you that is.

This topic is probably one of the most argued--if a digital currency should have a physical form. So, I have a few questions: First of all, who would be the eligible person/company/group (whatever) to print out the said Cryptocurrency? Secondly, let's say it is also in the form of a paper bill, how can we know the authenticity of the said paper bill? Thirdly, with the correlation of authenticity, who would clarify the number of existing paper Bitcoins or rather how could we know the number of existing paper Bitcoins? And lastly with what you said: does that mean we should have a separate value for paper Bitcoins(?) as they cannot be transacted with their digital counterpart?

It doesn't really matter

Well, in the 19th century (before the Civil War) US banks had been issuing gold receipts (or how they were called), and this wasn't a problem as long as they didn't abuse their power, i.e. didn't issue more receipts than they had physical gold in their vaults (gold standard on a private level)

Obviously, they very soon started to exploit the popularity of these notes (I guess the origin of the term banknote refers to that period) by printing receipts not backed up by anything which led to bank runs and bankruptcies (probably another term originating in those times), but that's a different story


I don't really know. But who could say some 20+ years ago that Bitcoin itself was possible (I refer to its decentralized nature mostly)? The thing is, if you can check the authenticity of a paper bitcoin, i.e. to check that it hasn't been spent by someone else, it's okay. In fact, there are OpenDime devices which serve as physical bitcoins, so we can actually say that there is a way to check that in a "provably fair" manner


We don't need to, but technically, there will certainly be certain discrepancies - either premiums or discounts - depending on the ease of use and such things

That would be really absurd to see digital currencies in paper form. People will not be able to accept this entirely opposing idea to the real objective of bitcoin or digital currencies. World is already having enough of fiat and a lot of variety is there. People were and are attracted to bitcoin because of its digital nature. I don’t think it is great idea to attract investors.

Presumably, if the same situation would ever happen to "Paper Bitcoin" eventually. It would just tatter the credibility of Bitcoin, thus making it harder for adaptation.

Worst case, the government will be forced to take action.


True, no one could've said it.

Yes, there is (I almost forgot about that). But that doesn't seem to be genuinely "physical" as you still need to access a wallet (storage) for that. But nevertheless, yes, it could be one way to check authenticity or rather it could be the only way to check authenticity.


I would prefer, it should be accessible via smartphone (or something), e.g. scanning QR codes, but this time a device, let's say from a store, will scan your (temporary: address) code that will automatically transact a payment. Isn't that more reliable and convenient? Also, we don't have to worry about the smartphone in the case of being stolen as the wallet (storage) isn't really the smartphone.

If you mean paper as in real paper, then it is one thing

But if you actually mean just physical representation, i.e. not necessarily in paper, it is a completely different story. As I mentioned above, there are physical devices (technically USB sticks) which can be used to transfer the ownership of private keys without anything being recorded on the blockchain, ever

If you ask me, for all practical intents and purposes, this is what physical bitcoins would be. And while their area of application may in fact be limited, they still have some use. Say, if you want to receive bitcoins from or give them to your counterparty in a truly anonymous way, this appears to be only the reliable way to go (and no, mixers don't cut it)

Btc, eth, ltc and others is a digital currency concept, it would be strange if digital technology actually made growth backwards with paper. Paper bitcoin won't happen, we want to go to technology that is simple and effective. If the concept of paper here is a barcode wallet, maybe an idea like that will be made.

Bitcoin owners should actually print the paper themselves. You made a good point though. I guess your point should serve as warning to those who would allow other people to print the bitcoin for them. I also think it should be possible in the future for another person to print out bitcoin without ever knowing or revealing the private keys. If the private keys are seen, the paper becomes useless. Someone could create devices that print without ever revealing the private keys.

There's a physical Bitcoin, I'm sure it's not known to many people, but basically it is in the form of a coin (not metal) sometimes devices like USB sticks--that has the private keys inside. Which then can be accessed by the receiver. It's not entirely a physical form, but it serves the purpose nevertheless.

You can look it up if you are doubting me.

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That's actually one of my concerns too, the authenticity of Paper Bitcoin.

My idea is somewhat similar. I've mentioned this from my past reply:

Source: https://bitcointalk.org/index.php?topic=5188623.msg52796009#msg52796009 (https://bitcointalk.org/index.php?topic=5188623.msg52796009#msg52796009)

Its been discussed here in the forum sometime and I also said I don't like that idea.

The idea of cryptocurrencies is decentralized and with paper money, that will not be decentralized.

I mean, it is great seeing someone using those paper money but I don't think people would like anyone seeing paying and bringing this money in their wallets. Digital currencies with physical representation ia not digital for me.

Absolutely. You call it digital currency and yet you are carrying a physical representation. What is that? That is like we did not make progress at all. We are trying to do away with physical money and shift into the digital way and yet here we are trying to come up with a traditional way of doing things.

If and when there is a paper Bitcoin, ETH, LTC, and others, there would also be like the central bank where these paper bills are to be printed. We are not making a single step away from what is happening with the current fiat system of today if that is the case.

But isn't credit/debit cards the same way?

They are actually Fiat money, but the transactions are done "digitally". So in the case of Paper Bitcoin, we could use the same method, a device that has access to your wallet that will permit transactions. That way we don't need to manually operate every transaction (or any exchange/conversion at all). Now you will ask "what are the flaws?", same as hacking/hijacking--what if the "device" was stolen(?), now that will depend on the user and unlike credit/debit cards you have to contact the bank in order to terminate it, but here you are the one who'll cancel the effectiveness of the "device".