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Author Topic: What if the Bitcoin was in note?  (Read 333 times)
MainIbem
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May 20, 2024, 08:45:34 PM
 #41

What if the Bitcoin was in notes and with the same value as it has now, do you think anyone would misplace it or even walk with it on the street. Eventually you see a Bitcoin note will you return it to the owner. Let's be sincere and also see it as fun.
You should understand that Bitcoin is a digital currency and unlike like those fiat currencies (paper money) it can't be seen or held in hand. The question of what if doesn't make any sense cause though Bitcoin and fiat are currencies, their mode of operation is different, the fiat currency is controlled by the Government through it's Central Bank, while Bitcoin is not controlled by anyone but operates through it's blockchain. Moreover, I feel Bitcoin wouldn't had it current value if it was in form of paper, then it would definitely be manipulated by the government and lose it value like most fiat currency currently. What makes Bitcoin have more value is it's scarcity and once it's in form of paper money then it would be easy to see around making it lose more value, also 1 BTC is worth about $68k currently how do you expect people to carry that about in their physical wallet?.
Uhwuchukwu53
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June 05, 2024, 10:02:29 AM
 #42

The purpose of a thing defined it nature to imagine Bitcoin to be in note is like trying to turn it purpose, this is purely digital currency that differ from Fiat even though it has the same function of being financial and solve issue if transaction that exist between two parties when entering or exchanging goods and services the purpose is not to be Carried around just as they hold fiat or bank note.

There are many things which the system of been digital has solved mostly the area of printing, storage  and preservation  if this currency exist in note allot of losses will occur as many fiat today fade away got spoiled in the hand of user, nit to talk of the money spent in printing and mobility issue of moving them from one location to another, this digital currency cut off many activities that fiat undergoes that is while it can never exist in note form because it's never the original design of it.

Another aspect of it is that if it exist in note there must be allot of controversy as it's not possible for many nation who is adopting crypto to make use of different note as there currency but been digital give room for any one or nation to go into it and convert to your national currency or fiat.

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teamsherry
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June 06, 2024, 08:51:36 AM
 #43

Fait is easy to lose cause its lightweight and very easy to forget you have it on you, so irrespective of value I believe that anyone can make such mistake to forget that he has that amount of bitcoin in his pocket, but why carry around instead you keep it in a safe or In your house, unless you want to use it or exchange it. I believe if that was a thing then there should be a wise way of doing things in that situation .

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