katiecbell
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April 18, 2016, 04:37:12 PM |
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Paper note....yes it will be nice to have it in hands ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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RodeoX
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The revolution will be monetized!
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April 18, 2016, 04:52:14 PM |
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The problem I see is that while the bitcoin network can mathematically protect virtual coins, a paper note is easy to counterfeit. There is really no way around this that I know of.
The structure of bitcoin is entirely different from the currency note and it will not be possible to print notes as there is no physical value of this. There have been many attempts to create physical bitcoins. Most (like the one below) hide the private key inside under a tamper proof seal. If you ever wanted to you could destroy the paper bill and use the private key to transfer the bitcoin to another account. So they are backed by real bitcoin, but they require trust. How do I know the private key is really in there? How would I know if someone used an Xray machine to see the key inside? Or maybe the issuer of the bill kept a copy of all the private keys when he made the bills? Square peg, meet round hole. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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richkellj
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April 18, 2016, 04:55:15 PM |
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Bitcoin is a digital currency and will remain as it is. There is no need for physical notes for bitcoin.
Really do we need paper notes again ?? ![Huh](https://bitcointalk.org/Smileys/default/huh.gif) Digital is the best.
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katiecbell
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April 18, 2016, 04:57:10 PM |
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The problem I see is that while the bitcoin network can mathematically protect virtual coins, a paper note is easy to counterfeit. There is really no way around this that I know of.
The structure of bitcoin is entirely different from the currency note and it will not be possible to print notes as there is no physical value of this. There have been many attempts to create physical bitcoins. Most (like the one below) hide the private key inside under a tamper proof seal. If you ever wanted to you could destroy the paper bill and use the private key to transfer the bitcoin to another account. So they are backed by real bitcoin, but they require trust. How do I know the private key is really in there? How would I know if someone used an Xray machine to see the key inside? Or maybe the issuer of the bill kept a copy of all the private keys when he made the bills? Square peg, meet round hole. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) This concept is like a credit card. Similar features.
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LiteCoinGuy
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In Satoshi I Trust
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April 18, 2016, 05:08:12 PM |
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Do you have any idea when Bitcoin will come in his currency note, just like other currencies note.??
![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fbitfreak.info%2Fpics%2Fbitcoin_note_front.png&t=665&c=OzM5R-TdD-ZOzA)
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Amph
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April 18, 2016, 05:52:23 PM |
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cash require trust, unless you're telling me that you can produce it without a central autorithy which would mean falsification like no tomorrow
this might also destroy the already not 100% decentralized aspect of bitcoin
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calkob
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April 18, 2016, 05:56:07 PM |
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Do you have any idea when Bitcoin will come in his currency note, just like other currencies note.??
Ahh that will be a never, currency is just the 1st app of bitcoin it is so much more than just a currency..... ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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Wendigo
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April 18, 2016, 06:10:19 PM |
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Bitcoin being a decentralized crypto currency there is no one on the helm with the authority to issue paper Bitcoin bills like in centralized governments. I think you have 2 options. The first one is to buy cheap Bitcoin physical coins and load them with the desired amounts. The 2nd one is to print paper wallets and load them as well with different amounts. So now you have physical paper bills and coins with Bitcoin digital money in your hands. Cheers ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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MedaR
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April 18, 2016, 06:30:30 PM |
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We really don't need this and those Judas who proposed this as something useful and good, don't have good intentions. Bitcoin is digital money and we must protect him using btcs only on blockchain not on paper. This not including paper wallets and one time codes..
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Slowturtleinc
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April 18, 2016, 06:44:04 PM |
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I know we have some purists in how bitcoin should operate but I tend to follow the idea that the more options people have to get bitcoin the better. If they need something physical to hold so be it. Also like the idea of picking up bitcoin at a gas station like the credit cards that are prepaid.
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Avirunes
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April 18, 2016, 07:03:33 PM |
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Do you have any idea when Bitcoin will come in his currency note, just like other currencies note.??
Well bitcoin is a digital or virtual currency which was developed in a way to handle it electronically and i don't think that it will ever come up in form of physical currencies like notes or coins etc..Moreover bitcoin was developed with a purpose to handle e-transactions .So i don't think whatever you asked here will ever happen.
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RealBitcoin
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April 18, 2016, 07:51:40 PM |
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We really don't need this and those Judas who proposed this as something useful and good, don't have good intentions. Bitcoin is digital money and we must protect him using btcs only on blockchain not on paper. This not including paper wallets and one time codes..
I know we have some purists in how bitcoin should operate but I tend to follow the idea that the more options people have to get bitcoin the better. If they need something physical to hold so be it. Also like the idea of picking up bitcoin at a gas station like the credit cards that are prepaid.
Bitcoin could have a fractonal reserve built on it. But here is the catch, if the debt scheme collapses, they cant print bitcoins to ease the collapse. Therefore bitcoin will never be the fiat money of choice of bankers. And those that will use bitcoin's fiat form, will just simply lose, but the risk will be contained to those suckers, as the digital bitcoin cannot be counterfeited.
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jak1 (OP)
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April 19, 2016, 06:01:04 AM |
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Bitcoin is a digital currency and will remain as it is. There is no need for physical notes for bitcoin.
Yes you are absolutely right, i really like your answer, if anyone ask me that question, so my answer will be same, i know bitcoin will remain as it is, but mostly people think that after passing the time bitcoin will be changed in note. but i always say that no. so mostly people can know about this point.
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mkc
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April 19, 2016, 06:11:13 AM |
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You can create one yourself, all you need to is saying, whoever own this note, mail it to you, you will send how much Bitcoin to his address. Oh well, i think a company with enough money and Bitcoin can do this. Of course why will he do this, what is the benefit for him and general public? Since Bitcoin is very easy to carry, paper note offer no value at all,
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jak1 (OP)
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April 19, 2016, 09:49:06 AM |
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The problem I see is that while the bitcoin network can mathematically protect virtual coins, a paper note is easy to counterfeit. There is really no way around this that I know of.
The structure of bitcoin is entirely different from the currency note and it will not be possible to print notes as there is no physical value of this. Actually bitcoin has no country name, and it is digital currency so it is different from the note currency, personally i don't think that it might be possible that bitcoin will be come on currency note.
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CubitsBTC
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April 19, 2016, 10:36:43 AM |
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There were Casascius Bitcoins, physical coins of brass which contained a private key and a physical address. Since November 2013, they are just souvenirs with no real Bitcoin worth. Now, there are other manufacturers of physical Bitcoins (coins): some even come in silver (Alitin, etc) or gold (Titan, etc). There are plenty of them - just google:) Such physical Bitcoins, however, serve more as collectibles or gifts. There is no point of using them on the regular basis (due to a number of reasons stated above).
There is also a ton of paper wallets (treat them as notes). The only point in them is to use in a brick-and-mortar store that accepts Bitcoins when your smartphone's battery's gone dead. Otherwise, there are too many shortcomings of paper Bitcoins.. There were stories of people accidentally washing them together with jeans, for example.
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MedaR
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April 19, 2016, 02:57:49 PM |
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There is also a ton of paper wallets (treat them as notes). The only point in them is to use in a brick-and-mortar store that accepts Bitcoins when your smartphone's battery's gone dead. Otherwise, there are too many shortcomings of paper Bitcoins.. There were stories of people accidentally washing them together with jeans, for example.
Paper wallets Is not even close to money, this is combination of public and private key, maybe it is on paper but this is only because we need more accessibilities. Paper wallet is perfect for disposable.
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MFahad
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April 19, 2016, 05:17:08 PM |
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I think bitcoin is better as it ,because in this time bitcoin doesn't need in his currency note, if we think bitcoin will need currency note, so who country will made bitcoin's currency note.than bitcoin will be face many difficulties.
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▄▄████████▄▄ ▄▄████████████████▄▄ ▄██████████████████████▄ ▄█████████████████████████▄ ▄███████████████████████████▄
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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jamesl22
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April 19, 2016, 05:21:24 PM |
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I think bitcoin is better as it ,because in this time bitcoin doesn't need in his currency note, if we think bitcoin will need currency note, so who country will made bitcoin's currency note.than bitcoin will be face many difficulties.
I cannot imagine to see bitcoin in a currency note in near future as first of all the Governments will never make it happen, but if bitcoin is available in physical form then we will see many new users adopting it, as people want to have something that they can hold physically.
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Vaskiy
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April 19, 2016, 05:33:32 PM |
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I think bitcoin is better as it ,because in this time bitcoin doesn't need in his currency note, if we think bitcoin will need currency note, so who country will made bitcoin's currency note.than bitcoin will be face many difficulties.
Yeah bitcoin is unique, it differs from other currencies only by its nature. If it is made as a real currency note where will we use it as it is not accepted by most countries and can't be used locally, so if these changes are made bitcoin will definitely suffer.
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