Bitcoin Banknotes

[ThunderCatSteve]

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.



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?

[TheQuin]

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.

[Minerall]

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.

[SexForCryptos]

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/

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.

[Rumayanhi]

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.

[Pan Troglodytes]

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/

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.

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.

[fibrolit]

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.

[TheQuin]

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.

[noormcs5]

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.



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?

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.

[Biscutard]

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/

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.

[Digital_Lord]

 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.

[ThunderCatSteve]

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?

[statdude]

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

[13TNLjs3oLfvTNuyb5ZL92DkG]

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.