If bitcoin was to be physical product?

[Reid]

I am glad you think that way. There are people who dislike Bitcoin because they think it's a mere number in the computer and doesn't have a physical attribute which could be lost anytime. I understand them, you could not please everyone and some people just like the tradition kind of thinking where they should feel it to say it is their property.

If Bitcoin is physically available?
I was not asked this type of question before, but I may not buy it. I don't see why I should buy it instead of gold. That precious metal could increase its value in time and that's not even doubtful. Its demand keeps on increasing everyday so competing against that is too hard.

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[Fivestar4everMVP]

To be honest with you all, if bitcoin was a physical product, it would have become heavily centralized, and it doesn't matter whether the network, that is its blockchain is decentralized, bitcoin on its own would have become heavily centralized by now, it is the same as it is with gold, silver and other precious stones, metals, even shares, landed properties, real estate and so on.

And again, let's not forget that central banks I've seen bitcoin as a threat from the onset of bitcoin going mainstream, and have on several occasions called for its ban, if bitcoin was a physical product, I believe by now, government would have seized it, either to take it out of the system completely, or make it their private owned project.

[Walesone]

Encourage Bitcoin as a global digital asset? Sorry, but that ship has sailed. Bitcoin is already a global digital asset, whether you like it or not. And while it may have its benefits, let's not forget that it's also incredibly volatile and risky. Not exactly a sure thing for investors.

[Forever101]

If bitcoins become a physical asset , it will definitely fall to same category as other fiat Currency because it will be regulated by government and the Decentralization process will become impossible. Transaction will shift from peer to peer to traditional system. Bitcoins will loose its power and function and become totally useless. As a physical asset, it will definitely require a bank where it is kept and issued out. The truth is that Bitcoin can never be a physical asset. The world is rejoicing on what bitcoins is created for . To make a physical asset is a clear deviation from it's purpose. "When the purpose of a thing is not known defeat is inevitable"

[Mate2237]

I thought such thread has been created but that not withstanding. Bitcoin was not meant to be physical but to be digital so there was no assumption for that. Satoshi had given the possible analysis for the both side of the coin before implementing the digit asset.
If the asset was created as physical, I don't think you OP would have participated because there would been a central control system which would restrict people from it. And the rich people would have gotten allot themselves and leaving the poor to continue their suffer. But with the decentralized system on the digital world, bitcoin carry along everyone to itself.

[bitgolden]

Bitcoin was created to provide transaction efficiency, so there is no need to have a physical form. I've heard it exists, but it's just a form of some kind of coin that contains a wallet address and key. So bitcoins remain in the wallet, not the physical one. If bitcoin is created in physical form then that's a setback. Digital money was created to create efficiency and today's metal or paper money has its drawbacks. That weakness is masked by crypto or bitcoin. And currently CBDC is formed and it mimics crypto technology, not metal or paper money.

I think it wasn't created for transaction efficiency but for decentralized version of it. As in, the governments have fiat but they do whatever they want to do with it and that is the best thing about it, but at the end of the day we are talking about a crypto currency that is controlled by just us, and that is a lot better.

This is why I believe that it should not be considered as a bad deal, that is a good one and should be considered a great return without a doubt. However, the end result doesn't change and the paper version or any other physical version doesn't really worth anything, it doesn't really matter and should be considered as a good thing that we do not have any, we don't need anything like that and the digital version is good enough.

[Darker45]

That Bitcoin is digital has indeed some advantages. Coupled with its being decentralized, you can indeed stay pretty much private with what you have. You can have a million in Bitcoin without your family ever knowing about it. As a matter of fact, it can die with you. I mean, if you kept it in such a way that nobody else could gain any access to it, it will forever be yours even beyond your death.

Anyway, I don't think it is possible for Bitcoin to be a physical product. So, I can't answer whether I'd be involved in Bitcoin had it been a physical product. In the first place, digital and physical are like opposites.

[fuguebtc]

To be honest with you all, if bitcoin was a physical product, it would have become heavily centralized, and it doesn't matter whether the network, that is its blockchain is decentralized, bitcoin on its own would have become heavily centralized by now, it is the same as it is with gold, silver and other precious stones, metals, even shares, landed properties, real estate and so on.

And again, let's not forget that central banks I've seen bitcoin as a threat from the onset of bitcoin going mainstream, and have on several occasions called for its ban, if bitcoin was a physical product, I believe by now, government would have seized it, either to take it out of the system completely, or make it their private owned project.

What sets bitcoin apart from other assets is that it is decentralized and privacy-focused. And if bitcoin being a physical product means that those advantages will disappear, then bitcoin will become useless. Even we won't need it, let alone the government that will care and take over it because the government can do something better than physical bitcoin. I never thought about physical bitcoin, that sounded trivial and turned bitcoin into a toy rather than a valuable asset as it is today.

[Hamza2424]

Haha, there are some side effects of it so follow the use with the prescription of the Experts. I would say If Bitcoin would be any Physical product then first of all the point in mind 😉 is Is would be easy to steal haha. Then it would be hard to diversify . There can be other outcomes as well I would like to mention a few of them one by one. It would be interesting to know abut the outcome we can face after getting the physical implementation of Bitcoin.

► compromised Security
► compromised Transparency
► No concept of Decentralization
► Limitation to the use case
► Zero Surplus in the Technology
► Trading would be limited
► Abolition of the core concept

[Kakmakr]

It is only "private" ..if you keep it "private".

There are a saying... How do you know a person is a Bitcoiner? Answer : He or she tells you. We Bitcoiners have the need to tell people that we are Bitcoiners and that paints a target on our backs for criminals to target us.

Yes, Bitcoin is not a physical object, but if criminals know that you own bitcoins.. then they will use physical force to get it from you. 

[mvdheuvel1983]

Definitely No. I won't involve my self with bitcoin if it were to be physical product because of the nature of
 the investment and establishment unless maybe i found my self among the rich or the middle class.
Like you said earlier, it will attract more fraudsters, it wont be private anymore and the common man can not invest in it because the government will place a tax that
 will be be so difficult for an ordinary man to afford and it will be only the rich man thing.

[crunck]

Would you have involved if bitcoin is a physical product?

Definitely not, look at all the other physical products being controlled by the government, and they become fully centralized. If bitcoin is physical, then it is no different than other assets such as fiat money, and gold... are all centralized and controlled. So what is the benefit in this case? So I will never be involved.

[CryptoHeadlineNews]

People love privacy in business and bitcoin is one profound individuals investment business with the public necessary sees your progress. Physical business attracts enemies, hatred, criminals, stress and energy, even witchcrafts (enemies of progress). But bitcoin is cool private investment nobody knows what's going on, on your devices only you. That in many ways bitcoin is more advantageous to other business investments with lots of benefits, this is more reason why it should be encourage to be accepted as a global digital assets. Would you have involved if bitcoin is a physical product?

And that's the beauty about Bitcoin, because you can own even a million dollar in Bitcoin and yet nobody will know you have such wealth, unlike in the case of land, real estate business and several other physical businesses that could attract enemies into suspecting and targeting you. But that in the other way round doesn't mean if you have such huge sum of money not to invest in all, that is Real estate and land, while the rest left in Bitcoin, because the beauty about this three is that with time it's price value will definitely appreciate.

[Games.Bitcoin]

If Bitcoin is physically available?

I think it is never possible. Because Bitcoin is for virtual money. If you want to buy it instead of gold, you must stay with the virtual world because it looks like gold is available in reality but Bitcoin is not available in reality. Overall, virtual currency Bitcoin design and value lies its digital natural and blockchain technology. Although physical representations of bitcoins do not exist, they should not be confused with the actual currency or its functionality.

[Rupok]

In the beginning no one thought much about Bitcoin, because very few people knew about Bitcoin. But maybe there were many people who knew about Bitcoin but didn't know how to access it.Bitcoin is currently considered by people as an asset.  It is very important that at one time many people did not have the money to buy Bitcoin, although they were interested in Bitcoin.  You are right Bitcoin is a great personal investment to manage on your own.Bitcoin is for virtual money, if Bitcoin is to be converted into gold then it has to live with the virtual world.

[Latviand]

In the beginning no one thought much about Bitcoin, because very few people knew about Bitcoin. But maybe there were many people who knew about Bitcoin but didn't know how to access it.Bitcoin is currently considered by people as an asset.  It is very important that at one time many people did not have the money to buy Bitcoin, although they were interested in Bitcoin.  You are right Bitcoin is a great personal investment to manage on your own.Bitcoin is for virtual money, if Bitcoin is to be converted into gold then it has to live with the virtual world.

I knew some people who knew about bitcoin as far as 2011, but they don't know where to get it and back then, online transactions is not as trustworthy as the present so they have a hard time getting their hands in one. One probable reason why there's so few people that have the money to buy bitcoin back then was that most of them was probably young people who doesn't have their own money or the appeal of bitcoin isn't there yet.

If bitcoin were a physical product, it wouldn't reach what it has reached so far as a virtual currency because of logistics, there won't be a lot of people that will be able to get their hands on it and not to mention that they will shelved together with other fad like pet rock except that there's a notion that it will increase in value. Bitcoin will become a coin collectible if it was a physical product.

[ilovealtcoins]

Remember that bitcoin became famous for its decentralization and scarcity. And if it becomes a physical product, that means it will lose those properties, and the government will turn bitcoin into trash and won't get as much attention as it does now. Honestly, this topic and question don't make sense when things are very different now, Bitcoin is a virtual currency, and no one controls it yet.

[DoverDoane]

I am glad you think that way. There are people who dislike Bitcoin because they think it's a mere number in the computer and doesn't have a physical attribute which could be lost anytime. I understand them, you could not please everyone and some people just like the tradition kind of thinking where they should feel it to say it is their property.

If Bitcoin is physically available?
I was not asked this type of question before, but I may not buy it. I don't see why I should buy it instead of gold. That precious metal could increase its value in time and that's not even doubtful. Its demand keeps on increasing everyday so competing against that is too hard.

One drawback of Bitcoin is that it lacks physical presence. To strengthen its value, it would actually be better to have a physical form of currency. However, implementing such a policy would be highly cumbersome as it would involve the government of a particular country and require approval from multiple stakeholders. Therefore, Bitcoin as a cryptocurrency benefits from its decentralized nature, as its policies are less complicated compared to a physical currency. Although the value of Bitcoin has soared, it remains a dream for quite some time before it can be widely accepted by everyone.

[Agbe]

Would you have involved if bitcoin is a physical product?

But Bitcoin is not like that so all these thinkings are just for saying sake. Satoshi Nakamoto create bitcoin only for digital purpose and not for physical asset. Even the assets you made mentioned on the OP are totally different from bitcoin. Land and car are not having any association with bitcoin but assets like diamond and gold can have some association with bitcoin and not land or car. And if bitcoin was a physical asset and the value is remain the same, I would still involved in it.

[Myleschetty]

Remember that bitcoin became famous for its decentralization and scarcity.

Maybe but that's the only reason Bitcoin became famous cause Bitcoin become famous is due to its unique combination of decentralization, security, accessibility, scarcity, and investment potential. Besides, if most Bitcoin investors could to provide an honest to the reason why they invested in Bitcoin you will see that 75% invested in it because of the investment potential.