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Author Topic: Bitcoin As Paper Notes Useful? thoughts?  (Read 220 times)
worldtraveller321
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July 11, 2018, 01:00:49 AM
 #1

I know there was some company experimenting with paper notes to help people who have not internet use BTC.

Anyhow this is an interesting thought. Do you think that it would be possible to put not exactly BTC into a paper note but any crypto in some what of a denomination in a paper note. eg hardware

more less it could be used for people who have no access to internet have spending power, where the paper notes would have  bar code scanner code on it, that they take to someone else for buying goods and services.

Your thoughts on this idea, could be used in whole numbers of a type of crypto if the numbers meet up to a certain standard, as not to correspond to a FIAT system but be entirely in Crypto?

your thoughts? pros and cons to this concept.?

why it could work ? or why it would not work?

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July 11, 2018, 01:11:18 AM
 #2

In my opinion, paper notes will defeat the purpose of bitcoin. Bitcoin was designed to be a virtual currency --a digital payment system that does not require banks. And I think that's the beauty of it. Let's embrace the fact we are at a digital age and haven't reached its peak yet. It only makes sense that our future will be shaped by these revolutionary technologies. I heard in a few decades, everything will be digital or virtual. What do you think about being a cashless society?
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July 11, 2018, 02:54:05 AM
 #3

I know there was some company experimenting with paper notes to help people who have not internet use BTC.

that's silly! and wrong!
you wouldn't be using bitcoin if you use these "paper notes". you would be using some piece of paper that has value only as much as the person printing them. it may not even be legal to do something like that and if the government starts looking into them and closes their shop, those "paper notes" value can drop to zero.

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July 11, 2018, 03:09:34 AM
 #4

I think we're veering away from the purpose of Bitcoin if we're going to create them as paper notes. Bitcoin is a digital currency, let's leave it that way.
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July 11, 2018, 05:42:27 AM
 #5

your thoughts? pros and cons to this concept.?

to be honest I don't see any pros, all I see is cons to this.
it has been discussed before too, many times. some people want to see bitcoin in physical form but even they would never use it in that form because it would require trusting that centralized entity that is issuing those physical coins.
there is one way of doing it such as the collectible physical coins but they are only used for collection not for transactions and they do actually contain private keys which you can reveal and spend them.

besides why would anyone want to use paper bitcoin when there is paper fiat?

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July 11, 2018, 05:49:54 AM
 #6

In this modern world,even most of the fiat money is in digitized form so there is no need to convert an digital money into physical form and I don't think there is any way to do that even if someone wanted to do that.But we can do one thing we can store our bitcoin into an paper wallet where we have physical form for bitcoin (Maybe).

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davis196
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July 11, 2018, 06:14:46 AM
 #7

If the bitcoin price was more stable,paper notes would have been a great way to adopt bitcoin in third world countries,that don`t have stable national currencies and most of the population don`t have electricity and computers.Anyway,the btc volatility ruins that idea.

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July 11, 2018, 06:27:13 AM
 #8

I know there was some company experimenting with paper notes to help people who have not internet use BTC.

that's silly! and wrong!
you wouldn't be using bitcoin if you use these "paper notes". you would be using some piece of paper that has value only as much as the person printing them. it may not even be legal to do something like that and if the government starts looking into them and closes their shop, those "paper notes" value can drop to zero.

Agreed. Bitcoin is meant to push people towards tech usage and it gains its value through the technology it's used on too. Putting it on paper notes offers some kind of centralization (who's making those notes?) as well as removes the technological aspect of Bitcoin itself. The whole point of a new currency is to be new and unique. Pushing it to be just like every other currency goes against any change that might come from it, so there's no reason to go ahead with that plan.

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July 11, 2018, 06:30:29 AM
 #9

paper notes will survive long, unless any government pushes people to go cashless. but these guys are very enthusiastic about Bitcoin taking over fiat in 10 years https://www.bitcoinmarketinsider.com/bitcoin-will-replace-traditional-currency-within-ten-years/

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July 11, 2018, 07:19:16 AM
 #10

paper notes will survive long, unless any government pushes people to go cashless. but these guys are very enthusiastic about Bitcoin taking over fiat in 10 years https://www.bitcoinmarketinsider.com/bitcoin-will-replace-traditional-currency-within-ten-years/
In an advanced country, it may take 10 years to move to crypto by leaving cash. But for a new country, it still takes a long and long process. Which will all use blockchain technology if you do not want to be left behind
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July 12, 2018, 12:19:42 AM
 #11

This is the reason i made this post about BTC in a paper format

check this article out from Singapore

https://news.bitcoin.com/bitcoin-smart-banknotes/


worldtraveller
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July 12, 2018, 12:23:54 AM
 #12

I don't understand, Bitcoin is a digital currency and it will always be. Why would it want to go back to paper based? Instead it should be pushing towards eliminating any form of paper money.
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July 12, 2018, 12:29:26 AM
 #13

Yes that is reason i put that topic in the form based on that actions of that company in May with doing paper notes, but way it works for that, is almost the reverse of fiat bank notes, the actual paper notes they have in BTC have no actual value till scanned by your phone or a device,
so its almost like carrying a paper wallet around almost,

but i figure it be interesting to get thoughts on this issue, as a what if scenario? if this could be something that be useful?

worldtraveller
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July 12, 2018, 09:30:19 PM
 #14

No i am not agree with this statement because if bitcoin do this then it will like fiat money. In recent time bitcoin gets acceptance by some countries government it’s a good news for them. Now they will become more popular.
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July 12, 2018, 09:44:09 PM
 #15

Even paper notes used for traditional currencies are going the way of the dinosaur, most countries are reducing the production of note-based fiat and are instead switching to credit and digital money systems. For those countries that still use notes, there is a broad overall push towards high durability polymers due to the wear and tear that usually befalls paper cash.


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July 12, 2018, 10:11:38 PM
 #16

It is called cryptocurrency for the purpose of a currency over internet, bringing it out is in congruence with it's purpose (to be a currency in the internet)
So it might be cool at first but when you think these things over you will realize that there are more disadvantages in what you have said about the notes, so better stay at is and do what it should do

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July 13, 2018, 12:39:04 AM
 #17

Not at all. This will hamper the virtuality feature of bitcoin. So this will not be wise to make bitcoin paper nores. The digital crypto bitcoin cannot have a hard copy.

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July 13, 2018, 11:16:56 AM
 #18

well thank you so much for asking this question but I am afraid  that i don't have clear idea about this topic,and to be frank most of users are also not aware about this gamaing networks yet, there are lots of way and sites are available  in this trading market it is difficult for some one identify all of them.
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July 13, 2018, 11:39:22 AM
 #19

Not useful
It's called cryptocurrency, and not fiat currency
Ofcourse when bitcoin is turned to paper note, then it will have to follow the trend the banking sectors are following and it will be agl great disaster

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July 13, 2018, 01:57:48 PM
 #20

Bitcoin is an online based cryptocurrency with blockchain network, so it wouldn't make sense if it comes in hardware form. Besides ,those who are not able to access the Internet, they would have other ways of transaction which would be much more convenient rather than "paper note" Bitcoin.
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