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Author Topic: Paper Bitcoin eth, ltc and others  (Read 2306 times)
Polo7
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September 29, 2019, 07:08:31 PM
 #1

Do you think its a good idea to have paper Cryptocurrency in circlelation too?


Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!


Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.



So nothing wrong with cash cash is not a devil!
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September 29, 2019, 10:42:00 PM
Merited by lionheart78 (1), SummerBliss (1)
 #2

Nope.

A physical manifestation means that someone had to physically create it which means they had access to the private keys which means you have to trust whoever came up with them. That defeats the entire point.

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September 29, 2019, 11:24:58 PM
 #3

Physical cryptocurrency is an oxymoron - it can't exist. Cryptocurrency is based on the idea that you can verify the state of the network by verifying each individual transaction and maintaining the full ledger. Now how are you going to do it physically? You can't print a private key and say that it's now cash cryptocurrency for obvious reasons.

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September 29, 2019, 11:39:02 PM
 #4


I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!

Read "Introduction on Bitcoin WP", then you can see why Bitcoin must be a digital currency and not be printed as Paper Bitcoin.
Bitcoin WP : https://bitcoin.org/bitcoin.pdf

Quote
What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

From the quote above, you must understand why we no need paper Bitcoin.

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September 30, 2019, 01:25:38 AM
 #5

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

The answer is NO.

Cryptocurrencies are by nature and definition digital and decentralized currencies. Turning it into paper cash would make it's purpose useless and require someone or some body to oversee the printing or generation of this currency, and that, is where greed and corruption could stem from. This is exactly what crypto is trying to combat in the first place.
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September 30, 2019, 02:01:32 AM
 #6

I don't support this.

Instead of gaining major steps forward, this idea of yours is a step backward.

Our society is getting high technology-based, there is therefore no need to get back to the crude way of doing business transactions with the use of paper bills and heavy coins. Digital currencies is the way to go. We are fast becoming a digital society and cryptocurrencies are the apt response to it.
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September 30, 2019, 02:35:08 AM
 #7

Nope.

A physical manifestation means that someone had to physically create it which means they had access to the private keys which means you have to trust whoever came up with them. That defeats the entire point.
With cryptocurrencies, everyone having their own private keys give the user the trust of responsibility over the funds. Even if it gets created physically it can't be used same as the currency. I've got a plan where we ourselves can create the currency(just a printed QR) mentioning the amount to be paid. It can be used only once, when the receiver scans the QR the fund needs to get recorded to the receivers wallet. This can be of limited usage, already might be there in use.

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September 30, 2019, 02:36:39 AM
 #8

A physical manifestation means that someone had to physically create it which means they had access to the private keys which means you have to trust whoever came up with them. That defeats the entire point.
Bingo, couldn't have put it better myself.  And, I would add, even if you knew the paper representation of crypto was secure there's still no need for it.  One of the biggest advantages cryptocurrency has is that it can be transmitted around the globe in an instant with relative privacy and low cost. 

If you're the type of person who needs to hold your money in your hand, get some gold or silver or keep a lot of bills in your wallet.  Crypto is a completely different bird.

Physical cryptocurrency is an oxymoron - it can't exist.
That's an interesting existential argument.  I'd say a paper wallet is a physical representation of crypto, but I suppose the coins don't actually exist on the paper.  Or do they?

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September 30, 2019, 02:38:43 AM
 #9

Do you think its a good idea to have paper Cryptocurrency in circlelation too?
Nah, no offense but I disagree with this. Imagine, if we make paper/coin btc or other cryptocurrency then where's now the uniqueness it possess which fiat don't have? Of course it's gone already, fiat and crypto would no longer be different to each other. If we will push this, the essence of being 'digital' will be gone.

Furthermore, there is also harmful effects to the environment assuming btc and all the alts in the market will make tangible representations. It will surely consume huge amount of trees and minerals thus resulting to further destruction of our nature.
I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!
It would be better if they remain as a form memorabilia only and not a valuable asset.

 
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September 30, 2019, 02:49:49 AM
 #10

That's an interesting existential argument.  I'd say a paper wallet is a physical representation of crypto, but I suppose the coins don't actually exist on the paper.  Or do they?

Coins and private keys are two different things. In Bitcoin a coin is an unspent transaction output, and private key gives access to those outputs. You can't put things like transactions and blocks on paper, because they aren't human-readable and verifiable, you'd need some device to read it and Internet connection to check it, but at that point you can just use Bitcoin software already. So, I'd say paper wallet is just a method of storing crypto, rather than being a physical representation of it - it's absolutely not usable as a currency.

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September 30, 2019, 03:17:19 AM
 #11

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!
I don't think so. Paper money is in decline while e-money rapidly increasing.

Quote
Across the world, a crop of other countries and companies are trying to loosen our reliance on cash. In South Korea, a close second to Sweden in terms of the growing dominance of electronic money, the central bank has set a 2020 target to phase out coins. There have been more limited withdrawals of small denominations in Ireland and parts of northern Europe.
Source: https://www.ft.com/content/9fc55dda-5316-11e8-b24e-cad6aa67e23e

Soon, people who have access to electricity and internet won't use paper money or coins anymore.

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September 30, 2019, 04:07:58 AM
 #12

Yes, Technology is tricky!
What If there is power electricity problems?
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September 30, 2019, 04:13:08 AM
 #13

Yes, Technology is tricky!
What If there is power electricity problems?
While asking about the electricity problems you should also think that without electricity it isn't possible to print physical currencies.

Technology is always tricky, and it always have alternate ways to make some evolution. One such example is our bitcoin and the blockchain technology.

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September 30, 2019, 04:14:17 AM
 #14

Who will go to print the paper or created the metal of bitcoin? There will be a big question, and I think they can interfere with the process and I am sure that the government will want to do this. I don't agree if bitcoin has a paper like a fiat. The digital money is not like paper money that we use. Cryptocurrency can send to anywhere without any borderline. But paper money will have a border to send to a different country because we need to convert it into their country currency.

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September 30, 2019, 04:29:21 AM
 #15

Who will go to print the paper or created the metal of bitcoin? There will be a big question, and I think they can interfere with the process and I am sure that the government will want to do this. I don't agree if bitcoin has a paper like a fiat. The digital money is not like paper money that we use. Cryptocurrency can send to anywhere without any borderline. But paper money will have a border to send to a different country because we need to convert it into their country currency.


Government Can do that
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September 30, 2019, 04:45:07 AM
 #16

Do you think its a good idea to have paper Cryptocurrency in circlelation too?


Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!


Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.



So nothing wrong with cash cash is not a devil!
Nah I don't think so. It defeats the sense of what cryptocurrency really is. Crypto was made when technology was advancing forward AKA most of the transactions were made through online management. Creating a physical appearance or existence for the representation of crypto is degrading its status as cryptocurrency. Besides, it's a waste of trees and other resources which could have been used in a lot more useful applications rather than using them to create paper and coins.

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September 30, 2019, 06:17:14 AM
 #17

Yes, Technology is tricky!
What If there is power electricity problems?
Then use a generator or UPS.

If there is a temporary power failure, then you won't be able to pay with cash either, since the shop's cash register/POS won't function.

IMO the argument for paper/coins/barter should be about remote areas, where there are no electricity or internet coverage. But still, isn't it better to develop those areas instead?

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September 30, 2019, 08:04:36 AM
 #18

It wouldn't change anything if there's a paper cryptocurrency. What's the difference of it with fiat/cash that we use for our daily lives? Bitcoin was created mainly focusing as a digital currency and although your idea looks good but it doesn't fit its feature.

What If there is power electricity problems?
Banks won't work if there's no electricity.

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Murat
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September 30, 2019, 09:29:57 AM
 #19

I totally disagree with you on this point, Paper or printed BTC, ETH, and other cryptocurrency are against the crypto format, If it will happen then the uniqueness of this platform will be no more, then Blockchain system will get less worthy. so paper and printed based cryptocurrency will not match with the actual blockchain system. Not only that but also you can't get any security measures which you are getting by this system like your own private keys, the decentralized system will also not exist if paper BTC will come, Governmental regulation will come to this platform very easily. one thing you have to consider that day by day our technology is being developed so there is no way to look back anymore, so look forward and think outside the box.



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September 30, 2019, 10:02:14 AM
 #20

It oppose the crypto functions intended for. Paper cryptos will be no different in paper currencies of each countries that determines and controlled by one state. The idea of having crypto is for a decentralised transaction, to secure one's identity. It's impossible to see it for circulation. Maybe like what BTC and other tokens have now for some coin collection can be possible for paper too in the future as paper collection with seals and encrypted crypto details.



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