Topic: Bitcoin Banknotes - page 6. (Read 15259 times)
Feels a little bit counter-intuitive. I mean crypto should replace traditional money and printing them makes them more traditional. But I agree that would raise awareness among less tech people
I understand and support the Crypto-ATM's, however isn't the whole idea of Cryptocurrency to be paperless and completely electronic? Wouldn't Crypto banknotes defeat the purpose of that?
No. You've misunderstood both what these 'notes' are and the purpose of Bitcoin.
If you haven't already I would suggest reading Satoshi's original white paper.
https://nakamotoinstitute.org/bitcoin/#selection-49.4-49.211
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What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.
These 'notes' are actually hardware wallets using NFC. It is the trust element that is important. You're not trusting that a bank will honour the value of a fiat banknote, you're storing Bitcoin on a chip.
As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
I understand and support the Crypto-ATM's, however isn't the whole idea of Cryptocurrency to be paperless and completely electronic? Wouldn't Crypto banknotes defeat the purpose of that?
The development is a flat hardware purse, on which a limited number of bitcoins are stored. The figure depends on the nominal value indicated on the "banknote". The device also has a built-in Samsung S3D350A chip. According to the developers, Tangem's cold wallets are protected from both hardware and software attacks.
I am confused that how banks notes are going to work in crypto, I mean if it is something like paper wallet then it would be almost impossible to identify that the security credentials like the private keys are already copied or not? Or is it going be like some card system that will allow us to withdraw/purchase Bitcoins using that card through ATM machine? Since the whole system is based on decentralization, everyone must get the latest transactions data as soon as transactions are taking place.
The application that they use says that it will erase the whole banknote or just a part of it based on the amount of purchase, but I haven't seen if these banknotes can be refilled, if it is used only once then I think it will be useless and will be too costly for the company to produce every time new banknotes.
From their faq: https://tangem.com/faq << Redirects to Google docs.
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Can I reuse a Tangem Note after extraction?
A Tangem Note has a limited number of transactions permitted, with the basic version limited to just one. Unless clearly identified as «reusable» in the validation app, you will not be able to use it after extraction at this time.
Can I extract partial value from a Tangem Note?
A Tangem Note may restrict extraction to only the full face value. You can currently extract a smaller value.
A Tangem Note has a limited number of transactions permitted, with the basic version limited to just one. Unless clearly identified as «reusable» in the validation app, you will not be able to use it after extraction at this time.
Can I extract partial value from a Tangem Note?
A Tangem Note may restrict extraction to only the full face value. You can currently extract a smaller value.
Technically they can be reusable but the business plan seems to be to make them in mass production numbers large enough so that they are cheap enough to be use-once disposables.
Great idea but not really that feasible with the logistics and architecture to be put in place for acceptance (at an early stage of course if idea takes off). But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too. Saying that, it is a good look upon the general uptake and adoption of Bitcoin, and maybe some of these cards will find their way into the hands of new people, who have only maybe heard about this magic internet money.. One question is, say if I have a 0.01 Bitcoin card gifted to me; I then go on to buy a coffee at the local coffee house, where does the change go?
The application that they use says that it will erase the whole banknote or just a part of it based on the amount of purchase, but I haven't seen if these banknotes can be refilled, if it is used only once then I think it will be useless and will be too costly for the company to produce every time new banknotes.
But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too
Great idea but not really that feasible with the logistics and architecture to be put in place for acceptance (at an early stage of course if idea takes off). But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too. Saying that, it is a good look upon the general uptake and adoption of Bitcoin, and maybe some of these cards will find their way into the hands of new people, who have only maybe heard about this magic internet money..
The rhetorical fallacy of «cashless society» is really very simple. You're not getting rid of cash, you're replacing it with a behemoth monolith of an infrastructure which is catastrophically centralized.One question is, say if I have a 0.01 Bitcoin card gifted to me; I then go on to buy a coffee at the local coffee house, where does the change go?
We start in the ballpark of USD100 and USD500 bills because that's where the most demand is. They are not meant for coffee shops, but rather casual experimenting, savings, gifts, storage, transactions where fractions below 0.01 BTC do not really matter. They are meant to be spent physically, whole.That said, a willing coffee shop will give you change in fiat. And we're working on another exciting solution to small payments.
As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
The creation of bitcoin banknotes is with the futuristic view that bitcoin could hit a million dollars in the coming years. At the same time its goal is to increase the bitcoin users all across the country even to areas without electricity, computer access and internet connection. This will be one of the reason why bitcoin will be increasing tremendously in value in the coming years but as long as its production is monitored and transparent then everything will go smooth.
Great idea but not really that feasible with the logistics and architecture to be put in place for acceptance (at an early stage of course if idea takes off). But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too. Saying that, it is a good look upon the general uptake and adoption of Bitcoin, and maybe some of these cards will find their way into the hands of new people, who have only maybe heard about this magic internet money..
The rhetorical fallacy of «cashless society» is really very simple. You're not getting rid of cash, you're replacing it with a behemoth monolith of an infrastructure which is catastrophically centralized.One question is, say if I have a 0.01 Bitcoin card gifted to me; I then go on to buy a coffee at the local coffee house, where does the change go?
We start in the ballpark of USD100 and USD500 bills because that's where the most demand is. They are not meant for coffee shops, but rather casual experimenting, savings, gifts, storage, transactions where fractions below 0.01 BTC do not really matter. They are meant to be spent physically, whole.That said, a willing coffee shop will give you change in fiat. And we're working on another exciting solution to small payments.
Great idea but not really that feasible with the logistics and architecture to be put in place for acceptance (at an early stage of course if idea takes off). But seems ironic we are try to rid the world of physical cash in our communities - but yet adding plastic cards, be it all very clever they are too. Saying that, it is a good look upon the general uptake and adoption of Bitcoin, and maybe some of these cards will find their way into the hands of new people, who have only maybe heard about this magic internet money.. One question is, say if I have a 0.01 Bitcoin card gifted to me; I then go on to buy a coffee at the local coffee house, where does the change go?
As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
I think bitcoin does not require physical form in the form of paper, bitcoin is better now and even if bitcoin in the form of paper money it will trouble the use of bitcoin.
I understand that someone might feel that crypto will become more tangible with banknotes, but the truth is that cash is slowly disappearing from the society, why would crypto need to go the opposite direction? future is cashless
The cashless society is something being forced on us by big brother government so they can watch every cent you spend. That's why this is a perfect antidote to that, Bitcoin can be passed from person to person without even the need for a blockchain transaction, complete anonymity.
It is absolutely impossible. Not only because of hundreds of technical issues that would arise, but more because of the idea that such modern currency would use such outdated representation. It would be absolutely inefficient and uncontrollable. I would say that this currency should stay in the electronic state, at best - on cards or phone apps.
Read the thread. These are cards with an NFC chip in them. It is not impossible, these things exist.
As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
I think bitcoin does not require physical form in the form of paper, bitcoin is better now and even if bitcoin in the form of paper money it will trouble the use of bitcoin.
I understand that someone might feel that crypto will become more tangible with banknotes, but the truth is that cash is slowly disappearing from the society, why would crypto need to go the opposite direction? future is cashless
The actual truth is, 150 billion banknotes are printed every year and growth is at 9% — much more dynamic than global economy.
Think about Tangem Notes as a familiar and secure physical interface to blockchain technology that enables more people to use it. Most of the «cashless» technologies you're thinking about are incredibly centralized and controlled. For actually decentralized ecosystems, a lot more tools need to be invented, scaled, and given to the people. Tangem is one of them.
It is absolutely impossible. Not only because of hundreds of technical issues that would arise, but more because of the idea that such modern currency would use such outdated representation. It would be absolutely inefficient and uncontrollable. I would say that this currency should stay in the electronic state, at best - on cards or phone apps.
The concepts of «cards» or apps you're thinking about are inherently backed by centralized companies. Crypto is about decentralization, trustless ecosystems, reclaiming control. People need to have finer grain control over their digital assets now and a smartphone alone cannot do it without siloed hierarchies.
It is absolutely impossible. Not only because of hundreds of technical issues that would arise, but more because of the idea that such modern currency would use such outdated representation. It would be absolutely inefficient and uncontrollable. I would say that this currency should stay in the electronic state, at best - on cards or phone apps.
I don't totally understand the idea. As far as my understanding is concerned, it only makes things complicated. I think we just need to improve our current uses of bitcoin than having this. If it's up for security issues, then current hardware wallets could be safer I guess. I don't think it gives convenience.
Bitcoin banknote are not like bitcoin paper wallets. Bitcoin paper wallets are bitcoin storage while bitcoin bank notes are bitcoin in paper form. Bitcoin banknotes are like money and it is not a storage. With bitcoin banknotes bitcoin can reach areas without internet connection or electricity. But since this idea is not so clear the bitcoin community is worried about its transparency and production.
As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
I understand that someone might feel that crypto will become more tangible with banknotes, but the truth is that cash is slowly disappearing from the society, why would crypto need to go the opposite direction? future is cashless
But that's the whole point. The aim of introducing physical bitcoins is to make Bitcoin more usable overall as well as expand its adoption and recognition in every backward corner of the world. Even if the future is cashless, this future is not in any way guaranteed to be Bitcoin-rich or Bitcoin-aware, so to speak. In other words, whatever helps the Bitcoin future to come about is good and should be welcomed. If cash is slowly disappearing from circulation, then more power to it. Physical bitcoins are there and ready to fill the void.
As the popularity and value of Bitcoin increases so do its adoption. Recently, about 4,000 new ATMs were introduced in Argentina. A drastic transformation in this sphere is being brought by Tangem that is trying to make the cash like transaction through cryptocurrencies a possibility for the users.
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
Tagem, a new smart banknote platform is launching the bitcoin banknotes in Singapore, which is known for its blockchain and crypto favorable regulatory measures. The notes will be on sale at the Megafash Suntec City store. The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
Continue reading: https://coingape.com/bitcoin-banknotes-ready-to-replace-traditional-currency/
I understand that someone might feel that crypto will become more tangible with banknotes, but the truth is that cash is slowly disappearing from the society, why would crypto need to go the opposite direction? future is cashless
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