Topic: Bitcoin Banknotes - page 8. (Read 15238 times)
heeh, sounds like those metal bitcoin coin from china, I`ve got myself one of them for $1 on aliexpress, it would be funny to have fiat bitcoin.
By the way how much would cost a single bitcoin banknote would be?
Does is have some sort of technology that it could connect to the internet and sync it's value to the current market?
Does is have some sort of technology that it could connect to the internet and sync it's value to the current market?
The cost of Tangem Notes does not currently depend on denominations, although we might consider additional security mechanisms for very high value ones like 1 BTC. Currently we only ship 0.01 BTC and 0.05 BTC.
The Notes are always denominated in crypto, they don't need to be synced — an app can show their current market value.
I was think of this the past few weeks , OMG I can not believe that there is someone actually working on this , That is just amazing . The idea is so close to what was in my mind but I am not sure if it is similar . What was in my mind is to make this Banknote process a decentralized process so anyone in the world can just scan his BTC and use it
Haha, the idea was there from the start of Bitcoin, I think, but it was really impossible to implement. The best the community could come up with was Opendime, which is great, but not user friendly and not as secure as I would like. Tangem Notes are made possible only with the latest advances in secure microelectronics in 2017, which finally caught up with blockchain and became powerful and energy efficient enough to perform Elliptic Curve Cryptography on an NFC chip.
Tangem Notes are completely decentralized, and can be used physically or digitally.
I have not thought about this: bitcoin paper money. When does that happen? If bitcoin is printed on paper money, it must be issued by the State and regulated in a stable manner.
The BTC is electronically stored on each Tangem Note, so there's zero need for any centralization or protective regulation. It's all made safe with state-of-the-art cryptographic mechanisms.
Those news about the 4000 ATMS on argentina is FAKE.
I have some friends who are using bitcoins, some of them live on Argentina, and they confirmed it to me by their own. it is more than fake, there is not even a single btc atm in there.
I have some friends who are using bitcoins, some of them live on Argentina, and they confirmed it to me by their own. it is more than fake, there is not even a single btc atm in there.
What I'm interested in is how you plan to protect the users' private keys (even from employees of your company)?
Nobody has access to the private keys, they are created by the chips inside Tangem Notes. You can't import or export these keys. You can't get them out in a lab, because the chip is an EAL6+ secure element. You can't hack the firmware — it's based on EAL6+ cryptographic libraries, has minimal attack surface and 100% audited both internally and by one of the best independent security groups.
Of course there's a limit to security and reverse–engineering labs in China get upgraded — we have a dynamic roadmap to improve security in anticipation of more sophisticated attacks and attack vectors.
That's what a impenetrable security is. So it is safe to carry it with you any time you want? By the way how much would cost a single bitcoin banknote would be? Does is have some sort of technology that it could connect to the internet and sync it's value to the current market? Bitcoin could gain massive supporters with these, people would able to understand more what is bitcoin if they see something like paper money but in a different and far more better.
It's really a great initiative in Singapore and when bigger organisations come forward to issue such bitcoin notes,then it would attract more normal people who just know only about paper currencies.
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.
I am not sure how this works but the news is exciting, Singapore is showing how things can be done, they will be holding bitcoin and print notes, which is quite brilliant rather than printing notes without any backing. With this trend starting i am sure more countries will follow this and we will have a bigger valuation in the future if that happens. 
Physical notes would fuck up the entire the blockchain's recordings.
How exactly? The only way for a transaction to make it into the blockchain is to get confirmed. In this case it means that a fee has been included and the transaction is as normal as any other transactions.Corruption would become worse,and before we know it,bitcoin may even cease to exist. This may seem exciting and futuristic thing but it really is not.
Calm down. It has zero impact on Bitcoin itself since these bills are cheap forms of hardware wallets containing a certain amount of Bitcoin. It might affect certain individuals in case of fraud, and that's really it.Most importantly, these bills are completely being offered to the public as optional product or tool. If you don't want to use it, then you don't. No one will ever for you to use them, and they likely will fail in their purpose anyway.
I wouldn't even be surprised if one or more groups will buy up everything and use them as collector items.
I was think of this the past few weeks , OMG I can not believe that there is someone actually working on this , That is just amazing . The idea is so close to what was in my mind but I am not sure if it is similar . What was in my mind is to make this Banknote process a decentralized process so anyone in the world can just scan his BTC and use it , There was a lot of details in my mind , But ya this project is something close to what in my mind , Wish you luck guys .
I have not thought about this: bitcoin paper money. When does that happen? If bitcoin is printed on paper money, it must be issued by the State and regulated in a stable manner. Now bitcoin is encrypted numbers that are not easy to know for their real value.
but it seems to illogical for me as the reason for btc was to make a cashless society but this company tries to issue banknotes which means to go back to start for me.
The aim is to mass produce the physical notes of bitcoin in millions by the end of 2018.
For some reason,I feel that this is a terrible idea. Physical notes would fuck up the entire the blockchain's recordings. Corruption would become worse,and before we know it,bitcoin may even cease to exist. This may seem exciting and futuristic thing but it really is not.
bitcoin bank notes in physical form is most existing news in cryptocurrency market we can see more trust in coming days with this initiative add more positive price spike here on words
You can use bitccoin to insert a note in a bitcoin transaction and that's all the bitcoin transactions are also recorded in very large notes and all open systems can see them. 
The Singapore company Tangem released bitcoin-bills, which the developers themselves call "smart banknotes." However, they are not made of paper - in fact it is hardware cold wallets with an integrated S3D350A chip from Samsung. At the same time, the novelty has common features with traditional banknotes. So, each bitcoin-bill represents a certain fixed denomination in BTC and can be transferred physically for payment. In the company itself Tangem development is called "uncoolable cold wallet."
Tangem’s bitcoin smart banknote could become revolutionary if people adopt it massively.
https://www.bitcoinmarketinsider.com/bitcoin-smart-banknote-launched-in-singapore/
https://www.bitcoinmarketinsider.com/bitcoin-smart-banknote-launched-in-singapore/
It looks more like bonds. Well done first in the market in its form as bitcoin in due time. on the one hand it's good: they lie quietly in your pocket and you will not be taken away by any hacker.
For me, it doesn't look good. Why would we even need banknotes when we have smartphones in our pockets which can store our bitcoins securely? There are many well coded wallets for Android and iOS which are fairly easy to use. I understand that some people might have problems with using Bitcoin, but it's not that difficult at all if you are not interested in coin control for example. The number of available bitcoins on the banknote won't change so someone will have to scan it with NFC anyway. It's not really convenient.
There are OpenDime devices on the market already, and they recently seem to have developed a new version of their disposable wallet. One of the use cases stated is a truly anonymous transfer of large amounts of bitcoins totally avoiding any traces that regular transfers leave on the blockchain. For example, you want to buy something expensive and don't want anyone to know about that. You privately exchange this hardware wallet with your bitcoins in it for the thing you are looking for, and that's pretty much all there's to it. If you feel interested, you can search for a thread about these devices somewhere around here started by their developer and read about possible use cases in greater detail there.
https://news.bitcoin.com/bitcoin-smart-banknotes/
I read it just now through some other thread sharing the same information. So it is damn true that this is a great move and the concept is truly innovative. Likewise there is much more to it than just being the simple currency notes.
But you see that now you will not have to wait for hours to transfer and the transaction fees is also NIL. What I think every new change that is introduced has its own pros n cons. But if you see the advantages outweighing the disadvantages, then definitely the change must be appreciated.
I read it just now through some other thread sharing the same information. So it is damn true that this is a great move and the concept is truly innovative. Likewise there is much more to it than just being the simple currency notes.
For me, it doesn't look good. Why would we even need banknotes when we have smartphones in our pockets which can store our bitcoins securely? There are many well coded wallets for Android and iOS which are fairly easy to use. I understand that some people might have problems with using Bitcoin, but it's not that difficult at all if you are not interested in coin control for example. The number of available bitcoins on the banknote won't change so someone will have to scan it with NFC anyway. It's not really convenient.
But you see that now you will not have to wait for hours to transfer and the transaction fees is also NIL. What I think every new change that is introduced has its own pros n cons. But if you see the advantages outweighing the disadvantages, then definitely the change must be appreciated.
For me, it doesn't look good. Why would we even need banknotes when we have smartphones in our pockets which can store our bitcoins securely? There are many well coded wallets for Android and iOS which are fairly easy to use. I understand that some people might have problems with using Bitcoin, but it's not that difficult at all if you are not interested in coin control for example. The number of available bitcoins on the banknote won't change so someone will have to scan it with NFC anyway. It's not really convenient.
There is nothing new in this idea. If my mind serves me right, a few years ago there was a start-up called like BitNotes. I don't know what's become of them but their idea was essentially the same. They went for issuing paper bitcoins, so-called bitnotes, which were to facilitate the exchange of good and services via Bitcoin. As much as this idea of creating paper bitcoins is loathed and hated by almost everyone in the community (because it effectively turns Bitcoin into a fiat currency), there is some rationale behind it. Technically, as long as paper bitcoins are backed up be real ones which exist on the blockchain and there is a way to check every paper bitcoin for its real counterpart, I see no big deal in that, especially if it could actually contribute to Bitcoin real life adoption.
The problem is there is no reliable way to establish this connection, and whoever comes up with this idea and employs it in practice, they will be tempted to issue more bitnotes than there are actual bitcoins. It had happened before with gold depositary receipts with North American banks in the 19th century, with the US dollar after WWII (surprise, surprise), and is likely going to happen again with Bitcoin.
The problem is there is no reliable way to establish this connection, and whoever comes up with this idea and employs it in practice, they will be tempted to issue more bitnotes than there are actual bitcoins. It had happened before with gold depositary receipts with North American banks in the 19th century, with the US dollar after WWII (surprise, surprise), and is likely going to happen again with Bitcoin.
If you had read the thread you would have known that these are actually more like hardware wallets and you can verify that they are funded using NFC and a smartphone app. So it is not possible to issue more and there is no comparison with fiat.
Jump to: