Physical bitcoin - Is this the future?

[Ucy]

Good idea. I think similar stuff already exists: www.ccn.com/physical-bitcoin-banknotes-launched-in-singapore-to-drive-adoption-2/
 I don't know how far they have gone with it though.
 Physical Bitcoin is better stored long-term to gain from increase in value. For example you could print out Bitcoin on some fancy cards  lock it up (with its inbuilt Timelock) for 5 years and hand it over to your kids to spend when they become adults.


 Your idea would work well if Bitcoin was stable.  Bitcoin isn't meant to be stable fortunately.
A stable & decentralized version of Bitcoin (like Ethereum DAI) could be developed to serve this purpose. I think such stable Bitcoin could also greatly contribute to Bitcoin economic in form of fees

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[nambunamba]

well still i do think the idea of cashless society that trusted and transparancy is not really good to have and seems unnecessary to have a physical form. I dont think bitcoin will be better with it and also what we need is how to make it easier to use and how make it more good and no one could use it for money laundry, that the fundamental idea in bitcoin that makes so many people jump on it cause its trustable and really good for transaction, but the volatility is the things that make it hard to be transactions item.

[lzby2000]

Physical Bitcoins are a misconception that would make the encrypted world disappear at once, because physical Bitcoins would put the community back on its feet, and the drawbacks are obvious.

[Brian_Hunt]

I really don't see a future in that direction. It's not so smart to be honest. I understand the idea of making it more like a standardized currency. Something we were all used to. But that's just a small picture. The bigger picture is revolutionizing how we see and spend money (currency). A physical Bitcoin is more like a step backward. It kills the whole digital currency thing, I suppose. That's my own opinion though.

[euronine897]

That is a one step to make Bitcoin more familiar to local businesses and individuals because most still don't believe in a currency that is not tangible and if Bitcoin become tangible that can do a big difference not only for Bitcoin but for the entire crypto world and it's future and this will never work to make a negative impact on Bitcoins future but to help its journey to achieve its ultimate goal in to become the first and best digital global currency in the world 

[Remainder]

I think physical form of bitcoin will remain as collectible items and valued not like as bitcoin as digital currency in this time but i think also that someday in the future someone can make it possible that bitcoin will become physical and functions like fiat.

[Tashi]

I think this will nullify the purpose of being a digital currency also as of now, the value of Bitcoin is fluctuating and  unstable.

[7jaka7]

I think physical form of bitcoin will remain as collectible items and valued not like as bitcoin as digital currency in this time but i think also that someday in the future someone can make it possible that bitcoin will become physical and functions like fiat.

I never said it would function like FIAT... Just the opposite. I would want to have a good system in which you can always check BTC on that "bill" so that you know it is backed by a real BTC on blockchain. And the chance to exploit this would be minimum.

As I see most of the people are against phsyical form. I just want you to imagine it like this: you go in a shop on vacations in a 3rd world country and unfortunately internet connection is not available there and BOOOOM BTC means nothing there. This is the problem I see. I don't assume there would be more then few % of BTC in physical form. But they could really become in handy when there is no internet connection. Unless whole world is covered with internet connection (probably with satelites) and have up-time more then 99,9% we need something physical for exchanges. I want to see and use BTC as currency not just as a tool for speculators.

[olgafox0404]

in my opinion, one should not come to the physical bitcoin because physical money is not surprising, and the future is behind digital currencies and bitcoin is exactly that, so bitcoin will be the strongest and best digital currency of the future

[7jaka7]

in my opinion, one should not come to the physical bitcoin because physical money is not surprising, and the future is behind digital currencies and bitcoin is exactly that, so bitcoin will be the strongest and best digital currency of the future

Did you read one post above? Or just spamming?
I just exposed problem BTC has in order to become worlds currency...

[thepers0n]

I think it is not  necessary to make BTC real. It is more comfortable to use BTC on the net because you don't have to do manipulations in real life. Moreover it is safer and faster

[Naginiya]

If we turn Bitcoin into a tangible or physical currency it may seems like Bitcoin will become more usable but that makes it difficult to use and the security and safety will be terrible because it won't be on the BlockChain anymore if we make Bitcoin into a physical currency but first we should think do we really need to do that in order to make Bitcoin more usable because for an Example the train ticket was issues as a paper but in many develop countries there are digital systems for that and it has become more usable and convenient than a paper so making Bitcoin a paper currency will not solve the problem we have right now the best thing to do is promote it and use it often to make it accessible popular in the world

[7jaka7]

If we turn Bitcoin into a tangible or physical currency it may seems like Bitcoin will become more usable but that makes it difficult to use and the security and safety will be terrible because it won't be on the BlockChain anymore if we make Bitcoin into a physical currency but first we should think do we really need to do that in order to make Bitcoin more usable because for an Example the train ticket was issues as a paper but in many develop countries there are digital systems for that and it has become more usable and convenient than a paper so making Bitcoin a paper currency will not solve the problem we have right now the best thing to do is promote it and use it often to make it accessible popular in the world

If you understand Bitcoin then you know that it can only exist on blockchain. So the underlying security would stay the same. What would be hard is transferring ownership of that certain bitcoin number. You could've had only a bill representing that number or actually swap private keys.
I agree, the most important thing atm is to spread it's usability and actually use it. Maybe this could proceed faster if you can give something physical to people... I think majority of the people would be more open to this new technology after they've touched something physical.

[pinoyden]

I think it is not  necessary to make BTC real. It is more comfortable to use BTC on the net because you don't have to do manipulations in real life. Moreover it is safer and faster

I think it is not  necessary to make BTC real

why not? if btc has been issued a physical form and been used offline  , many people will trust it and many people will now use it which can result for a better inflation .

It is more comfortable to use BTC on the net

how much more if it is in offline? btc is more easier to use if we can feel and touch it because we can instantly make a transaction without the hassel of fees and delays .

Re: Physical bitcoin - Is this the future?

yes it can be the future and we should push that idea , so that devs and inventors can now start to make a design about its physical container .

[Umkar]

Bitcoin is only partially able to regain its physical form and this is already happening. Thus, the Singapore firm Tangem issued its banknotes in denominations of 0.01 and 0.05 bitcoins. However, I would not say that this is better than the virtual form of bitcoin. Just for some, this form will be more convenient, for others there is not. Both forms have a right to exist.

[SIDDHI777]

Good concept but hard to implement and even if we do that there will be many problems because even Bitcoin is great as a digital asset we would miss such qualities once we turn that into a paper currency because border less and barrier less transactions will be much difficult in a tangible form like we face in fiat money and there are other major problems will occur if something like that implemented which can make many limitations for Bitcoin   

[Brandon Sousa]

Physical Bitcoin has both advantages and disadvantages. With a physical form,  the problem of high fee can be solved. Also, people don't need to have high knowledge are able to use Bitcoin because it is much similar to other currency. But the disadvantages is that, we are heading to a cashless society and Bitcoin was created to promote that. Physical form seems to against the original purposes of Bitcoin

[Brenda Smith]

Personally, I think the reason why Bitcoin was created is to solve the shortcomings of physical money and lessen the dependence on the authority issuing it. If we try to issue a physical form of Bitcoin, we are getting Bitcoin centralized. Everything will be back to the square.

[Christine Tavares]

The safety of physical form will be nowhere near as high as the digital one, I believe. And it seems to me that physical from will be against the trand. Nowadays, everything tends to be digitalized, but Bitcoin, already a digitalized money, is finding a way to be physicalized? Does that make sense?

[Mark Tabicas]

If Bitcoin goes physicalized, the high fee problems will be solved well. Physical Bitcoin is simple enough and requires no fee for each transaction. People who are tech-dumb can easily to approach Bitcoin. But meanwhile, legistration will be an obstacle. Governments will definitely intervene or crack down on it.