If Bitcoin were a physical currency.

[BTC_pokaop]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

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[Wapfika]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

This is a nonsense discussion. Bitcoin become phenomenal because of its cutting edge blockchain technology which allows you to send money without the need of 3rd party services such as bank. Assuming Bitcoin as physical currency will just be another fiat currency.

Why will you buy some physical currency rather than your own fiat currency? Also I wonder what will backed on Bitcoin value if it’s only physical.

[MelanyYYYYYY]

If BTC is a physical currency, then all its advantages regarding the blockchain will not exist. Legal currencies are all legal currencies issued by the country. So which country does BTC belong to? If according to the international situation, the value of BTC should be priced according to the country to which BTC belongs, then it will be worthless

[pinggoki]

I don't think it will gather that much attention if bitcoin was introduced as a physical currency because there's nothing new or revolutionary about a physical currency because every country already have that for centuries already so being a physical currency won't make bitcoin stand out unlike in digital form, it stands out because even if it's not the first, the concept it reintroduced was pretty intriguing especially at that time when people are still pretty curious on what they can do on the Internet. If bitcoin was a physical currency, it will just become a fad and a thing of the past and some other "Satoshi Nakamoto" would probably create "bitcoin" but a different year.

[Tytanowy Janusz]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

Define "physical bitcoin". Because you can generate a private key, feed it with fraction of a bitcoin, wrap it nicely (e.g. in the form of a coin) and treat it as a physical bitcoin. there is such a thing, but it is marginally used.
https://en.bitcoin.it/wiki/Casascius_physical_bitcoins - Casascius  stoped minting new coins in 2013, but i've seen few bitcointalk members continuing his legacy

However, if you mean 100% physicality without any contact with the digital world, then ... this is a physical bitcoin:

[dzungmobile]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency.

You must live with reality.

Bitcoin is a digital currency with good technology from cryptography, blockchain to make it secured and safe to use. Bitcoin has achieved its position today because it is a successful blockchain-based currency and a digital currency. If it is the same like other currencies, in physical formats or like fiat currencies, it would have not make any big difference.

Remember "avec des si on mettrait Paris en bouteille", means “with 'ifs' one could put Paris in a bottle”. <sup>[1]

[1]</sup> https://en.wiktionary.org/wiki/avec_des_si_on_mettrait_Paris_en_bouteille

Welcome you to Bitcointalk and you will feel interested in while reading this The bullish case for Bitcoin. If you like it, you can order a book on Amazon too.

[davis196]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

I agree with the forum member above. You should define "physical currency".
Both gold/silver coins and paper money are physical currencies.
I assume that by "physical Bitcoin" you mean BTC that was printed on paper.
1.If BTC was a 100% paper currency everyone would just try to create counterfeit paper BTC and there would be no central authority to fight against all those counterfeit paper BTC. The governments won't do anything, because paper BTC is not legal tender.
2.I don't agree that physical BTC would be very difficult to buy. There will be no KYC and no additional transaction fees when dealing with offline sellers and buyers, but the security of the buyers and sellers would become a big problem in offline trading.

[naira]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

So Bitcoin is lucky as a digital asset because anyone can buy it without having to think about where to go. Apart from that, Bitcoin in physical form can also be duplicated, especially with current technological advances, it is difficult to distinguish between genuine and imitation. With its existence on the internet and Bitcoin using an blockchain mechanism, it cannot be duplicated and cannot be imitated.
If Bitcoin becomes a physical currency, it means there are regulations governing it and perhaps not many people are interested. And it's certainly not much different from antique items from ancient times that are only owned by a handful of big collectors.

[lombok]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

Why bother making an analogy with something that doesn't make sense? Bitcoin is a digital currency, yes its form will definitely be digital. If you want to make an analogy with Bitcoin in physical form, don't bother. OP, try looking at gold coins, limited quantities, selling in shops or someone who wants to buy the gold coins. Bitcoin will remain digital!

[AprilioMP]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

If Bitcoin is physical and can be touched like fiat currency, then Bitcoin is not an electronic payment system.

The value may be the same as fiat currency and has the potential to be used as a fake at any time outside the rules, such as counterfeiting paper currency. When that happens, it will be difficult for you to get it if you don't trust the currency counterfeiting group.
At another point, Bitcoin is no longer the best hedge if Bitcoin is anything like physical currency.

In real life, have you ever thought about what if your idolized fiat currency became an electronic payment system that you could use as an investment asset?
Just live your life according to reality, bro.

[Luzin]

However, if you mean 100% physicality without any contact with the digital world, then ... this is a physical bitcoin:

I've heard this, physical bitcoin with its wallet address connection and prifatkey. But of course this is a bit risky if many people know the combination of both. Currently it may only be a physical form and emblems such as toys are widely traded in online stores.

Bitcoin is the money of the future so it is already related to technology. While physical money is money that was first created and still exists today to accommodate users who still cannot use it. Like developing countries that have a population that does not know much technology.

[xzy887]

If bitcoin is a physical currency, it will be like fiat. Then its price will be fixed. The bigger problem is that it will be within the scope of any particular country. Then again we have to take the help of a third person for the transaction. Now the way we can transact very easily, then so many opportunities will not be available. Bitcoin is not inherently convertible to fiat.

[Hyphen(-)]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

If Bitcoin were a physical currency, the primary aim of creating it would have been defeated because it was created as an alternative currency to fiat currency and to give us financial freedom through its properties, which include privacy, anonymity, the ability to hold Bitcoin without any other third party being involved in your transaction, and also the ability to be your own bank by keeping your Bitcoin in a wallet that you control yourself.
 
If Bitcoin were a physical currency, its value would not have gone this far, and just the way people do fake currencies and gold, there will be fake Bitcoins, which is not proper, and moreover, if it were a physical currency, the government would be in control of its circulation and also its value.

[_act_]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

Haven't you read about physical bitcoin called Casascius bitcoin? Due to regulation in United States, the coin was stopped being manufactured. So if there is physical bitcoin, the government would have seen an easy way to stop its adoption and it would become a useless coin.

But bitcoin may not even be of any value if it is only existing in physical form. The blockchain that is decentralized and its digital form makes it an investment that make it well adopted today.

[Fiatless]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

I don't know your location but if you are not from the US and Europe, I am not sure your nation's currency is popular. Many factors contributes to the popularity of a currency. My country's currency is not well-known outside our sub-region.

Even in the face of daily increases in the development of more digital currency, bitcoin's popularity keeps growing which means that it is not just the digital currency status that is making it more popular. Bitcoin is popular because of its uniqueness which distinguishes it from other currencies. It has given people the uncommon privilege of enjoying privacy and bypassing financial middlemen. It has also helped people to have unlimited access to their funds which is not common with conventional fiat currency. OP it is true that the digital nature of bitcoin has made it easy to acquire it. But don't also forget that many countries also have CBDC and they are not still popular.

[_act_]

It has given people the uncommon privilege of enjoying privacy and bypassing financial middlemen.

Bitcoin is not a privacy coin unless you go for it and be private the way you want to be. Most people just use bitcoin the way they thought it is and not knowing the privacy that you are referring to. But if comparing bitcoin with fiat, it is more private.

OP it is true that the digital nature of bitcoin has made it easy to acquire it. But don't also forget that many countries also have CBDC and they are not still popular.

People are not foolish about CBDCs because they know they are fiat. CBDCs are not the first fiat that is digitally created because fiat has been existing in digital form since many years ago before CBDCs were created. The main reason bitcoin adoption continues is because of its increasing value and price and people see it as an investment, but fiat is not like that. CBDCs are fiat.

[retreat]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

What makes Bitcoin famous is Bitcoin's ability to make transactions more secure, faster, anonymous, decentralized and cheaper. The features provided by Bitcoin are the magnet that makes Bitcoin a trusted and popular digital asset to this day. Moreover, the blockchain technology it brings makes Bitcoin not just an ordinary digital asset, but a digital asset that is able to provide a new decentralized financial system that is free from government intervention. And that's what makes Bitcoin a choice for people globally.

[Nrcewker]

It won’t create a major difference to be honest. This is because, the features will be same, the only difference will be its digital form that will be now physical. People who used to treat it as digital asset will now treat it like physical asset. That’s the only thing that will affect everything. Yes the mobility thing and storage issue would have created some problem, but according to me those won’t affect a lot.

[fuguebtc]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

This has been said many times on the forum, if you search you will find several topics similar to yours. If bitcoin were a physical currency, it would be trash and no one would need it because it would be a centralized product and not a decentralized product like it is today. When bitcoin was physical money, it would be easy for governments to control or ban it, they would not face the current difficulties in banning bitcoin. But fortunately things don't happen like that, bitcoin is virtual currency and is decentralized.

[benalexis12]

I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?

It is no different from a natural or ordinary currency, no sense, and no opportunity for sure for anyone. So why did you think this? You are describing a situation that is not the case in reality. Or you can't believe that Bitcoin is not even physical money but has a value that is dear to the market while fiat currencies have not increased in value like Bitcoin?

Remember, Bitcoin was created to solve the financial problem and provide opportunity not only to poor people but also to entrepreneurs and every country that recognizes the concept of Bitcoin and why it was created.