Greenkarki (OP)
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May 17, 2018, 06:30:33 PM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
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Gozie51
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May 17, 2018, 06:48:45 PM |
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I don't think that is visible. Bitcoin and its tools or compartments/properties are better efficient as cryptocurrency, made in digital. What you are talking about would not be made real. If it comes like fiat, that means its glory would disappear. For instance, there won't be pair to pair, anonymous transactions, banks would come in, regulations would follow too etc.
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jvdp
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May 17, 2018, 07:34:10 PM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
Nope not existed mate. You may find the paper wallet and hardware wallet see the physically. Apart from that there is no physically used bitcoin in the market so far. Yesterday in one of news channel I have found that bitcoin does not need internet anymore to send and receive. Company caleed GoTenna they are developing the wallet which can allow to you make the transaction via Mash node and its network. Nothing else improvement has been so far on crypto currencies mate.
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TianaStam
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May 17, 2018, 08:11:50 PM |
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You can buy a physical form of Bitcoin on eBay, but it is kinda bitcoin and you can't pay with that, it's more just like a souvenir and nothing more. I do not understand why do you even need to have a paper note or a coin of Bitcoin? It is perfect as it is, digital. The society moved to cashless exchanges long time ago and it is not in a trend to move back to physical money.
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Steamtyme
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May 17, 2018, 09:38:16 PM |
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The closest to this you will find Is the coins that have private keys imprinted on them. They have been around for a while, I don't really k ow anything about them but I see them in the collectibles section.
Other than that you won't see it like cash today, how would the transactions be verified? How could you be sure the person is handing you a "loaded" amount of paper money?
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Taki
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May 17, 2018, 09:58:34 PM |
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You can buy a physical form of Bitcoin on eBay, but it is kinda bitcoin and you can't pay with that, it's more just like a souvenir and nothing more. I do not understand why do you even need to have a paper note or a coin of Bitcoin? It is perfect as it is, digital. The society moved to cashless exchanges long time ago and it is not in a trend to move back to physical money.
The coin from eBay that you are talking about is definitely a souvenir, but I heard that there are coins or maybe even notes of bitcoin which really worth something serious. You need to search on Google for more detailed information about it
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Dreamchaser21
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May 17, 2018, 10:02:34 PM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
If bitcoin have a Physical currency note I think it will be just a normal note without value because basically you can just print out and the supply may never stop. I'm already contented about this digital curreny and I hope bitcoin will not become worthless in the future.
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Hydrogen
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May 17, 2018, 10:30:41 PM |
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Making physical notes or coins could be crossing lines of legality. Years ago, a man named Bernard von NotHaus out of hawaii made his own coins out of pure silver and wound up in legal trouble. Its a cool story, NotHaus is similar to Satoshi Nakamoto in many ways. He made his own coins out of silver to create his own money which were backed by the precious metals they were made from(see: intrinsic value). The government threw baseless accusations at him claiming he was a terrorist. https://lfb.org/the-domestic-terrorist-you-can-call-a-hero/https://www.forbes.com/sites/georgeleef/2014/12/09/protecting-us-from-a-terrorist-who-made-pure-silver-coins-the-bernard-von-nothaus-case/I think NotHaus is still walking free. He wasn't charged. Not 100% certain what the final verdict was and there doesn't appear to be news stories covering it. Still, even if he wasn't charged, issuing a type of coin or printed money could be cause for legal issues.
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stomachgrowls
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May 17, 2018, 10:47:45 PM |
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The closest to this you will find Is the coins that have private keys imprinted on them. They have been around for a while, I don't really k ow anything about them but I see them in the collectibles section.
Other than that you won't see it like cash today, how would the transactions be verified? How could you be sure the person is handing you a "loaded" amount of paper money?
It would be quite hassle to make transactions with these notes yet you would always check out if theres a balance on that specified address together on where those privatekeys being listed on the note. Its too much hassle in my part where i cant think off that this will be adopted.I would always prefer to stick into traditional ways yet bitcoin is a digital currency after all and having a physical form isnt really necessary and as being said above these things are just good for collectibles.
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jossiel
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May 17, 2018, 11:13:35 PM |
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How it would be when we have a physical bitcoin currency note?
What you mean? physical bitcoin which is backed up by the government or just the community alone? Do they already exist?
The closest thing that I can even think of are the casascius and paper wallets. Check most of them @ Collectibles.If created, will it impact the market growth and loose it's value in the market? Any thoughts?
I doubt it will lose it's value in the market as it's market cap it good so it's impossible.
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supermine
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May 18, 2018, 03:16:23 AM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
There is no physical form for bitcoin so it never can have a physical currency notes,but why we even need physical formed currency even now in the fiat money system we hardly need physical money to pay because we can use debit and credit cards which is also in digital form so I don't find any valid reason that bitcoin should be in physical form. So it is impossible to create then the remaining section will become void to discuss.
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Kayum10029
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May 18, 2018, 03:32:28 AM |
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could it possible? only governments accepted currency have physical notes fiat paper money. but bitcoin is globally online currency and only few countries accepted bitcoin. so physical currency or metal coin is not possible.
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samcrypto
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May 18, 2018, 03:56:48 AM |
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could it possible? only governments accepted currency have physical notes fiat paper money. but bitcoin is globally online currency and only few countries accepted bitcoin. so physical currency or metal coin is not possible.
If this thing happen the supply for bitcion will be high and the value may decreased so basically this will not happen. This is a digital currency, we don't need paper money here and for sure government will not let this thing to happen so let's just deal with a digital currency.
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mostkey
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May 18, 2018, 04:25:06 AM |
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does not seem to be happening and I do not expect that to happen. bitcoin would still be much better if it remained in digital form and undermined for the future development of digital monay which has no physical figure
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Sadlife
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May 18, 2018, 04:37:03 AM |
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I dont think bitcoin is suited in physical form, it is better anonymous and much more efficient as a crypto currency and much more easy to use than fiat because it's faster, secured and only take minutes to receive. Especially if your goin on a travel you wont be restricted on how much amount you bring cause you can store it in your btc and convert into fiat when you arrive to that country.
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player514
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May 18, 2018, 05:29:14 AM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
I feel like that could make some forms of centralization pop up. If you have all these currency notes, who's making them? Someone's gotta manufacture and make those notes and coins. Also, I think the strong benefits of using bitcoin come from the fact that you have a lot of flexibility and precision in how much money you want to send to someone. If we make some kind of notes for BTC, you lose out on that pretty nice benefit. Genuinely, we as a society are likely going to be moving away from currencies that are physical and move towards the electronics based ones. They're just a lot more fitting when it comes to the future and potential uses for crypto.
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This area is up for grabs! PM me if you're interested.
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hugeblack
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May 18, 2018, 07:50:47 AM |
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Owning such a kind of currency would be interesting, something like "A currency with digital/real value." The value of this coin is 2 Bitcoin, This coin consists of gold with a value of one Bitcoin, The front face of the currency is a pattern that takes the shape of "2 BTC", and the back face is a private key covered by the public key inscription. This currency will derive its value from gold and bitcoin together
will it impact the market growth and loose it's value in the market? Any thoughts?
It will not affect but it is a good idea.
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reflector
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May 18, 2018, 09:55:36 AM |
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I dont think bitcoin is suited in physical form, it is better anonymous and much more efficient as a crypto currency and much more easy to use than fiat because it's faster, secured and only take minutes to receive. Especially if your goin on a travel you wont be restricted on how much amount you bring cause you can store it in your btc and convert into fiat when you arrive to that country.
You are right. I tell how it is. Actually we are taking bitcoin as a update of traditional form of money. So it need to better in digital form instead of being fiat cash. Fiat are very much limited to use and it has a control on various country corporate giant mate. To save your fiat cash you need to fear that whether it is stolen by someone but bitcoin will be safer unless you share your private key someone else mate.
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CryptAssist
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May 18, 2018, 10:30:45 AM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
Yes, they exist. I have never had one but as I understand it, they can have like a peel off sticker with the BTC private address and maybe a QR code. You see the problem with this approach. It's an added security risk for obvious reasons. I think coins will disappear. Too much resources in metal etc. Instead, we will have advanced web wallets, almost surely on our phones. As we do now with enhanced payment features. It will have to be as fast as a handshake, yet secure.
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martina14
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May 18, 2018, 11:29:48 AM |
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How it would be when we have a physical bitcoin currency note? Do they already exist? If created, will it impact the market growth and loose it's value in the market? Any thoughts?
This will never happen as bitcoin is connected and run by blockchain. though there are some physical bitcoin (limited) that has some wallet address on it with some bitcoin value but still you need to have it online.
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