If Bitcoin were a physical currency.

[knowngunman]

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 inspire you to think this way? I can confidently say that you don't know what bitcoin stands for by bringing up this conversation. If bitcoin were to be a physical coin then it is not longer different from traditional currency. Bitcoin is digital for a reason and if Bitcoin were to be turned into a physical coin, it would lose some of the features that make it unique. For example, it would be subject to the same limitations as traditional physical currencies, such as the need for secure storage and the risk of theft. It would also no longer be decentralized, since it would need to be physically minted and distributed by a central authority.

[dezoel]

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?

That doesn't make any sense, why would someone think of creating a new physical currency when we already have fiat currencies available? And what makes you think that a government or the governments would allow it? Bitcoin is digital and it isn't available physically which is why they aren't able to destroy it, otherwise, it would have been destroyed a long time ago, and no one would dare to create a physical currency to make it compete with existing fiat currencies.

So, we don't think about things that don't make any sense at all. Bitcoin is famous mainly because of its technology and the ability to bypass problems that exist in traditional financial systems. How do you think Bitcoin could solve any problem or be any different if it was physical and not digital? No security, no anonymity, no decentralization, it wouldn't be Bitcoin if it was physical, it would just be one more paper currency that would get banned immediately and the creator, buyers, and sellers would all be punished for being involved.

[bbigtart]

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.

Of course these are two different things, because Bitcoin's initial purpose was clear as digital money, if it is made in physical form it is no longer digital money. More precisely, it could be said to be fiat money, money without collateral whose use is forced on society. Meanwhile, bitcoin is honest money that frees the world from the fakeness of fiat money.

Bitcoin, government fiat money. There's nothing wrong with any of that. Everyone will be poor if they don't have it, everyone will be rich if they have it. What is wrong is that the government feels threatened by bitcoin. Even though God blessed his existence.

[Crypto Library]

Buddy, did you know what is the real reason behind the origin of Bitcoin? Bitcoin was invented by Satoshi in 2009 primarily for privacy reasons.  And as a great example of this, you can see that the inventor of Bitcoin, Satashi, is not yet known. It is a digital technology that is based on block chain technology, so I think it would be wrong if we thought that Bitcoin is also a digital currency like others digital currencies.
So I think if Bitcoin was a physical currency then this block chain system would never have been implemented and if it wasn't I think it wouldn't have been possible to protect the privacy that is currently possible with Bitcoin.  Moreover, if Bitcoin was a physical currency, it would have experienced inflation just like its fiat currency.  Essentially, if Bitcoin were a physical currency, Bitcoin would be completely worthless because the properties that make Bitcoin its current value today would not have existed at that time.

[Sophokles]

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 inspire you to think this way? I can confidently say that you don't know what bitcoin stands for by bringing up this conversation. If bitcoin were to be a physical coin then it is not longer different from traditional currency. Bitcoin is digital for a reason and if Bitcoin were to be turned into a physical coin, it would lose some of the features that make it unique. For example, it would be subject to the same limitations as traditional physical currencies, such as the need for secure storage and the risk of theft. It would also no longer be decentralized, since it would need to be physically minted and distributed by a central authority.

You are right but what if physical bitcoin has all the characteristics of the digital one? It will be quite challenging and as you have said it will be centralized at least at the beginning due to the necessity of central authority to mint and distribute. It seems hard to have a decentralized currency in its physical form, isn't it? Or perhaps we can have one only by changing the nature of the currencies or setting some rules.

[The Cryptovator]

If you want, you can't create a new physical currency. Every country has its own native currency, which means even a government can't create another new currency. Even printing new notes of existing currency needs some regulation.A government can't just print money whenever they want. So it's a useless discussion imagination of Bitcoin as a physical currency. Any physical currency must be centralised and controlled by the government, which is against Bitcoin features.