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birdcat90
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October 10, 2015, 07:08:40 AM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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n2004al
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October 10, 2015, 09:10:42 AM
Last edit: October 10, 2015, 12:28:51 PM by n2004al |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
Bitcoin is a digital currency and that is known and told by everyone. Is a particular new currency which for the moment have no physical form. I write "for the moment" because in the future it is not impossible that even bitcoin has its physical form. But it is not the problem about which I want to discuss in this thread. Let's make an analyse of your post. You tell that if bitcoin be a currency there will (must) be a paper coin, or anything that has phisycal (form). Where have found you this? Who told this? Below are the meaning of the words "currency" and "money" taken from good sources. In no one of definitions is conditioned the existence of a currency with the having of one physical form of it. It is only one part of definition which ask for the physical form of the currency but this definition is not an condition but optional because tell: " You'll need some cash in local currency but you can also use your credit card" So you need to have some cash (physical money) OR you can use your credit card. As a conclusion. If you have the credit card you don't need the cash. If you have the credit card you may "forget" about the cash. Credit and debit card with bitcoin are to many in circulation so this part of definition meet the conditions asked by the definition of the currency. Read below the entire definition and the source of those. According to Oxford dictionary: "The currency is the system of money that a country uses: trading in foreign currencies a single European currency You'll need some cash in local currency but you can also use your credit card." Source: http://www.oxfordlearnersdictionaries.com/definition/english/currencyAccording to Wikipedia: "Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form." Source: https://en.wikipedia.org/wiki/MoneyThe final conclusion. Bitcoin is a currency even with the actual definitions of this "tool". But even is not. Who told you that the definitions cannot be improved with the evolution of the "tool"? |
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jt byte
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October 10, 2015, 11:54:49 AM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
To be a physical coin it should require lots of money to produce. Because it requires lots of metals and at least 1 country should implement it. But as a digital currency it is much easier and you can buy almost anything with the bitcoin debit card. |
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bitart
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October 10, 2015, 08:00:08 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
Please correct me if I'm wrong but I've hered that there are some phisical bitcoin coins, but since the value of them are so much (approx. 250 USD now) that it makes people not to use them as normal everyday coins. Just imagine what is the approx. value of the normal coins you have in your pocket/leather wallet/car's ashtry, is it worth the value of 1 bitcoin coin? The bitcoin coin is phisical (or will be phisical if I know it wrong), but because of the value of it you would put it into your safe instead of your pocket. Another question if the bitcoin coin will have smaller coins (change) like cent for EUR or for USD. This could be the satoshi for example |
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qiwoman2
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Oikos.cash | Decentralized Finance on Tron
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October 12, 2015, 06:01:37 AM |
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I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Africa many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.
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Dotakels
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October 12, 2015, 02:48:15 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
To be a physical coin it should require lots of money to produce. Because it requires lots of metals and at least 1 country should implement it. But as a digital currency it is much easier and you can buy almost anything with the bitcoin debit card. Implementing bitcoins as a form of physical money have a different requirements that should have a particular country there such things that you must consider like bitcoin must be mainstream so that there will no problem that will come. |
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n2004al
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Activity: 1134
Merit: 1000
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October 12, 2015, 04:00:10 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
Please correct me if I'm wrong but I've hered that there are some phisical bitcoin coins, but since the value of them are so much (approx. 250 USD now) that it makes people not to use them as normal everyday coins. Just imagine what is the approx. value of the normal coins you have in your pocket/leather wallet/car's ashtry, is it worth the value of 1 bitcoin coin? The bitcoin coin is phisical (or will be phisical if I know it wrong), but because of the value of it you would put it into your safe instead of your pocket. Another question if the bitcoin coin will have smaller coins (change) like cent for EUR or for USD. This could be the satoshi for example Any physical bitcoin have no value as a currency but only as an ornamentation object. Those are made by bitcoin passionate people which pretend to create with those even their being unique (meaning being unique as it is every bitcoin) and not reproducible. But this don't make them regular bitcoin because bitcoin is known only as a digital currency from everyone. And it is not known yet how (which, what) can be a physical bitcoin. |
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Mickeyb
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October 12, 2015, 04:37:46 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
To be a physical coin it should require lots of money to produce. Because it requires lots of metals and at least 1 country should implement it. But as a digital currency it is much easier and you can buy almost anything with the bitcoin debit card. Implementing bitcoins as a form of physical money have a different requirements that should have a particular country there such things that you must consider like bitcoin must be mainstream so that there will no problem that will come. It seems to me that all of the countries and governments will shift slowly towards digital money/tokens, just like Bitcoin. It seems also that they will try and issue these tokens in a format of centralized blockchain. That's why I wouldn't be worried about this physical/digital thing, since we are going towards digital nevertheless. It seems to me that Bitcoin and crypto in general have just made this transition faster. |
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bitart
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October 12, 2015, 10:04:27 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
Please correct me if I'm wrong but I've hered that there are some phisical bitcoin coins, but since the value of them are so much (approx. 250 USD now) that it makes people not to use them as normal everyday coins. Just imagine what is the approx. value of the normal coins you have in your pocket/leather wallet/car's ashtry, is it worth the value of 1 bitcoin coin? The bitcoin coin is phisical (or will be phisical if I know it wrong), but because of the value of it you would put it into your safe instead of your pocket. Another question if the bitcoin coin will have smaller coins (change) like cent for EUR or for USD. This could be the satoshi for example Any physical bitcoin have no value as a currency but only as an ornamentation object. Those are made by bitcoin passionate people which pretend to create with those even their being unique (meaning being unique as it is every bitcoin) and not reproducible. But this don't make them regular bitcoin because bitcoin is known only as a digital currency from everyone. And it is not known yet how (which, what) can be a physical bitcoin. Thanks for the clarification, so it means that those phisical coins are only a kind of art work instead of the phisical appearance of bitcoin itself? If you have a bitcoin coin like that, it only worths what passionate poeple wants to pay for it even if the 1 bitcoin value is written on that? Bitcoin is working while there is power for the computers that processes the transactions, like money is working while there are banks and clearing systems they run the whole system. Phisical money exists, but payments are tending to be done by bankcards, even since paypass or paywave or the smartphone NFC payment systems have been introduced. You can use NFC cards as a montly ticket on subway, train, bus etc. So these kind of digital things are used and alive as long as the backend system is up and running. I can imagine the phisical bitcoin as a kind of coin that you buy only once and you assign your wallet to it (so it should be a kind of NFC tag coin, you don't have to hand it over to buy anything but just to tap it to the reader and the payment is done.) Normal everyday bank cards are only specific numeric strings and are linked to your account where you have your money digitally (or you have your credit line also digitally in case of credit cards). So why it is not possible for bigger bitcoin wallet providers to phisically produce some NFC tags with their own logo on it and let the people start using them instead of (or paralell with) their bank cards? The problem yet should be the acceptance, but I think every smartphone that's NFC capable could be a kind of POS terminal for these kind of tags and this way acceptance could spread rapidly (e.g. wallet provider's app would be able to process this kind of payments) Even there are phisical wallets available (trezor, etc), these are nearly the bitcoins themselves. |
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thejaytiesto
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October 13, 2015, 02:16:21 AM |
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We are still not close to that. Maybe in decades when we see further deterioration of the current fiat system, but right now we must go step by step and focus on scaling, and right now the most interesting developments are all related to sidechains, LN and so on, that's what interests me the most, the rest is pretty much noise to me to be honest. We need this solved as first priority.
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suda123
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October 13, 2015, 02:22:20 AM |
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For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.
Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.
It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.
Well the establishments I use to get good from people who take bitcoin usually just use there phone to accept it or an IPAD. |
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BTChaintrader
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October 13, 2015, 03:36:12 AM |
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Good point, but I think US would treat bitcoin as a commodity like gold instead of currency. I'm not supporting US, but if bitcoin disturb its economy, I guess US will do anything to regulate bitcoin with its power (although we know bitcoin is a decentralized thing). And sometimes what exactly happens in real world is different with what we expected before, so if the whole world adopt bitcoin, we can't guarantee the wealth become more distributed in every country.
They can regulate Bitcoin but they can't regulate the use of blockchain which is the real innovation. |
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Dotakels
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October 13, 2015, 02:39:08 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
To be a physical coin it should require lots of money to produce. Because it requires lots of metals and at least 1 country should implement it. But as a digital currency it is much easier and you can buy almost anything with the bitcoin debit card. Implementing bitcoins as a form of physical money have a different requirements that should have a particular country there such things that you must consider like bitcoin must be mainstream so that there will no problem that will come. It seems to me that all of the countries and governments will shift slowly towards digital money/tokens, just like Bitcoin. It seems also that they will try and issue these tokens in a format of centralized blockchain. That's why I wouldn't be worried about this physical/digital thing, since we are going towards digital nevertheless. It seems to me that Bitcoin and crypto in general have just made this transition faster. Being bitcoin centralized is the biggest mistake that you would suggest because if theres someone who will handle it like your own government, theres so many problem that may occur like corruption. |
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tech_solutions
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October 13, 2015, 03:10:49 PM |
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up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..
if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..
To be a physical coin it should require lots of money to produce. Because it requires lots of metals and at least 1 country should implement it. But as a digital currency it is much easier and you can buy almost anything with the bitcoin debit card. Implementing bitcoins as a form of physical money have a different requirements that should have a particular country there such things that you must consider like bitcoin must be mainstream so that there will no problem that will come. It seems to me that all of the countries and governments will shift slowly towards digital money/tokens, just like Bitcoin. It seems also that they will try and issue these tokens in a format of centralized blockchain. That's why I wouldn't be worried about this physical/digital thing, since we are going towards digital nevertheless. It seems to me that Bitcoin and crypto in general have just made this transition faster. Being bitcoin centralized is the biggest mistake that you would suggest because if theres someone who will handle it like your own government, theres so many problem that may occur like corruption. then the same thing will happen what currency is doing, then their wont be difference between bitcoin and currency, i think bitcoin being centralized in online format will be good |
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gon
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October 13, 2015, 03:36:05 PM |
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if bitcoins became accepted as an alternative source of payments everywhere then we could say that it has become a global currency but that will take decades before that happens
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Skeksis
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October 13, 2015, 03:47:22 PM |
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It seems to me that all of the countries and governments will shift slowly towards digital money/tokens, just like Bitcoin. It seems also that they will try and issue these tokens in a format of centralized blockchain.
That's why I wouldn't be worried about this physical/digital thing, since we are going towards digital nevertheless. It seems to me that Bitcoin and crypto in general have just made this transition faster.
I think digital currencies are inevitable at some point (maybe not in our lifetime) but security technology needs to be stronger. Not sure how most people would feel about keeping their entire wealth themselves and not relying on banks. It would be quite daunting having all your money to look after personally. |
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neochiny
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October 13, 2015, 05:29:46 PM |
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For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.
Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.
It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.
bitcoin as global currency would be a bad idea. if that happens more underground trading will be made without being traced and not every country can use bitcoin even after a dacade or so. and if bitcoin became a global currency im pretty sure it will be controlled by the government. |
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bitart
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October 13, 2015, 09:20:25 PM |
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How will it be technically possible to control the bitcoin system? OK, governments have more powerful tools than normal people and they can control a large number of PC or buy some specific hardware to have as many mining capacity as possible. But is it possible that a big government (like US) can have so much mining capacity to take over the control of bitcoin?
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n2004al
Legendary
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Activity: 1134
Merit: 1000
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October 14, 2015, 02:37:13 PM |
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How will it be technically possible to control the bitcoin system? OK, governments have more powerful tools than normal people and they can control a large number of PC or buy some specific hardware to have as many mining capacity as possible. But is it possible that a big government (like US) can have so much mining capacity to take over the control of bitcoin?
The bitcoin can be "controlled" not through the mining system but only as a currency. The way may be will the collaboration of all the countries which have regulated it. Later can be added all the other countries which will regulate it (probably all the world). Those can create an Authority which can try to do monetary policies for bitcoin as a currency and to treat it as a world currency. This authority will be independent from every state and will do politics which will have as aim the stability of bitcoin as a currency and the use of it according to the role given to it from those countries. An interesting role of bitcoin it will be this proposition made in this thread: https://bitcointalk.org/index.php?topic=1191118.0Comments about this role proposed here are welcomed. |
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Dotakels
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October 15, 2015, 03:03:09 AM |
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How will it be technically possible to control the bitcoin system? OK, governments have more powerful tools than normal people and they can control a large number of PC or buy some specific hardware to have as many mining capacity as possible. But is it possible that a big government (like US) can have so much mining capacity to take over the control of bitcoin?
The bitcoin can be "controlled" not through the mining system but only as a currency. The way may be will the collaboration of all the countries which have regulated it. Later can be added all the other countries which will regulate it (probably all the world). Those can create an Authority which can try to do monetary policies for bitcoin as a currency and to treat it as a world currency. This authority will be independent from every state and will do politics which will have as aim the stability of bitcoin as a currency and the use of it according to the role given to it from those countries. An interesting role of bitcoin it will be this proposition made in this thread: https://bitcointalk.org/index.php?topic=1191118.0Comments about this role proposed here are welcomed. maybe if bitcoin become the global currency theres so many law or policies that may occur and i think if some country controlled bitcoin we can complain as a users, it can be global currency but not centralized. |
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