Definitely No. I won't involve my self with bitcoin if it were to be physical product because of the nature of
the investment and establishment unless maybe i found my self among the rich or the middle class.
Like you said earlier, it will attract more fraudsters, it wont be private anymore and the common man can not invest in it because the government will place a tax that
will be be so difficult for an ordinary man to afford and it will be only the rich man thing.
Topic: If bitcoin was to be physical product? - page 2. (Read 525 times)
It is only "private" ..if you keep it "private".
There are a saying... How do you know a person is a Bitcoiner? Answer : He or she tells you. We Bitcoiners have the need to tell people that we are Bitcoiners and that paints a target on our backs for criminals to target us.
Yes, Bitcoin is not a physical object, but if criminals know that you own bitcoins.. then they will use physical force to get it from you.
There are a saying... How do you know a person is a Bitcoiner? Answer : He or she tells you. We Bitcoiners have the need to tell people that we are Bitcoiners and that paints a target on our backs for criminals to target us.
Yes, Bitcoin is not a physical object, but if criminals know that you own bitcoins.. then they will use physical force to get it from you.
Haha, there are some side effects of it so follow the use with the prescription of the Experts. I would say If Bitcoin would be any Physical product then first of all the point in mind 😉 is Is would be easy to steal haha. Then it would be hard to diversify . There can be other outcomes as well I would like to mention a few of them one by one. It would be interesting to know abut the outcome we can face after getting the physical implementation of Bitcoin.
► compromised Security
► compromised Transparency
► No concept of Decentralization
► Limitation to the use case
► Zero Surplus in the Technology
► Trading would be limited
► Abolition of the core concept
► compromised Security
► compromised Transparency
► No concept of Decentralization
► Limitation to the use case
► Zero Surplus in the Technology
► Trading would be limited
► Abolition of the core concept
To be honest with you all, if bitcoin was a physical product, it would have become heavily centralized, and it doesn't matter whether the network, that is its blockchain is decentralized, bitcoin on its own would have become heavily centralized by now, it is the same as it is with gold, silver and other precious stones, metals, even shares, landed properties, real estate and so on.
And again, let's not forget that central banks I've seen bitcoin as a threat from the onset of bitcoin going mainstream, and have on several occasions called for its ban, if bitcoin was a physical product, I believe by now, government would have seized it, either to take it out of the system completely, or make it their private owned project.
And again, let's not forget that central banks I've seen bitcoin as a threat from the onset of bitcoin going mainstream, and have on several occasions called for its ban, if bitcoin was a physical product, I believe by now, government would have seized it, either to take it out of the system completely, or make it their private owned project.
What sets bitcoin apart from other assets is that it is decentralized and privacy-focused. And if bitcoin being a physical product means that those advantages will disappear, then bitcoin will become useless. Even we won't need it, let alone the government that will care and take over it because the government can do something better than physical bitcoin. I never thought about physical bitcoin, that sounded trivial and turned bitcoin into a toy rather than a valuable asset as it is today.
That Bitcoin is digital has indeed some advantages. Coupled with its being decentralized, you can indeed stay pretty much private with what you have. You can have a million in Bitcoin without your family ever knowing about it. As a matter of fact, it can die with you. I mean, if you kept it in such a way that nobody else could gain any access to it, it will forever be yours even beyond your death.
Anyway, I don't think it is possible for Bitcoin to be a physical product. So, I can't answer whether I'd be involved in Bitcoin had it been a physical product. In the first place, digital and physical are like opposites.
Anyway, I don't think it is possible for Bitcoin to be a physical product. So, I can't answer whether I'd be involved in Bitcoin had it been a physical product. In the first place, digital and physical are like opposites.
Bitcoin was created to provide transaction efficiency, so there is no need to have a physical form. I've heard it exists, but it's just a form of some kind of coin that contains a wallet address and key. So bitcoins remain in the wallet, not the physical one. If bitcoin is created in physical form then that's a setback. Digital money was created to create efficiency and today's metal or paper money has its drawbacks. That weakness is masked by crypto or bitcoin. And currently CBDC is formed and it mimics crypto technology, not metal or paper money.
I think it wasn't created for transaction efficiency but for decentralized version of it. As in, the governments have fiat but they do whatever they want to do with it and that is the best thing about it, but at the end of the day we are talking about a crypto currency that is controlled by just us, and that is a lot better.This is why I believe that it should not be considered as a bad deal, that is a good one and should be considered a great return without a doubt. However, the end result doesn't change and the paper version or any other physical version doesn't really worth anything, it doesn't really matter and should be considered as a good thing that we do not have any, we don't need anything like that and the digital version is good enough.
I thought such thread has been created but that not withstanding. Bitcoin was not meant to be physical but to be digital so there was no assumption for that. Satoshi had given the possible analysis for the both side of the coin before implementing the digit asset.
If the asset was created as physical, I don't think you OP would have participated because there would been a central control system which would restrict people from it. And the rich people would have gotten allot themselves and leaving the poor to continue their suffer. But with the decentralized system on the digital world, bitcoin carry along everyone to itself.
If the asset was created as physical, I don't think you OP would have participated because there would been a central control system which would restrict people from it. And the rich people would have gotten allot themselves and leaving the poor to continue their suffer. But with the decentralized system on the digital world, bitcoin carry along everyone to itself.
If bitcoins become a physical asset , it will definitely fall to same category as other fiat Currency because it will be regulated by government and the Decentralization process will become impossible. Transaction will shift from peer to peer to traditional system. Bitcoins will loose its power and function and become totally useless. As a physical asset, it will definitely require a bank where it is kept and issued out. The truth is that Bitcoin can never be a physical asset. The world is rejoicing on what bitcoins is created for . To make a physical asset is a clear deviation from it's purpose. "When the purpose of a thing is not known defeat is inevitable"
Encourage Bitcoin as a global digital asset? Sorry, but that ship has sailed. Bitcoin is already a global digital asset, whether you like it or not. And while it may have its benefits, let's not forget that it's also incredibly volatile and risky. Not exactly a sure thing for investors.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
To be honest with you all, if bitcoin was a physical product, it would have become heavily centralized, and it doesn't matter whether the network, that is its blockchain is decentralized, bitcoin on its own would have become heavily centralized by now, it is the same as it is with gold, silver and other precious stones, metals, even shares, landed properties, real estate and so on.
And again, let's not forget that central banks I've seen bitcoin as a threat from the onset of bitcoin going mainstream, and have on several occasions called for its ban, if bitcoin was a physical product, I believe by now, government would have seized it, either to take it out of the system completely, or make it their private owned project.
And again, let's not forget that central banks I've seen bitcoin as a threat from the onset of bitcoin going mainstream, and have on several occasions called for its ban, if bitcoin was a physical product, I believe by now, government would have seized it, either to take it out of the system completely, or make it their private owned project.
I am glad you think that way. There are people who dislike Bitcoin because they think it's a mere number in the computer and doesn't have a physical attribute which could be lost anytime. I understand them, you could not please everyone and some people just like the tradition kind of thinking where they should feel it to say it is their property.
If Bitcoin is physically available?
I was not asked this type of question before, but I may not buy it. I don't see why I should buy it instead of gold. That precious metal could increase its value in time and that's not even doubtful. Its demand keeps on increasing everyday so competing against that is too hard.
If Bitcoin is physically available?
I was not asked this type of question before, but I may not buy it. I don't see why I should buy it instead of gold. That precious metal could increase its value in time and that's not even doubtful. Its demand keeps on increasing everyday so competing against that is too hard.
If Bitcoin was to be a physical product, it would have had more adoption than as it is today.
The majority of people that came to bitcoin, did not come because of privacy, they came because of the dividends of investment.
Also, some people came because bitcoin is cheap to afford. If bitcoin was to be as expensive as Real estate, people would also not be interested much except the rich.
Then, here comes the main matter which is, it proves difficult for people to understand the virtual nature of bitcoin. If bitcoin was to be a tangible product. Let's say a physical cash or coin like fiat, many more people would have been interested in bitcoin. So many people would not like to invest in something they do not understand.
The majority of people that came to bitcoin, did not come because of privacy, they came because of the dividends of investment.
Also, some people came because bitcoin is cheap to afford. If bitcoin was to be as expensive as Real estate, people would also not be interested much except the rich.
Then, here comes the main matter which is, it proves difficult for people to understand the virtual nature of bitcoin. If bitcoin was to be a tangible product. Let's say a physical cash or coin like fiat, many more people would have been interested in bitcoin. So many people would not like to invest in something they do not understand.
Bitcoin is even better without being physical and apart from physical things that differentiate it from other assets such as gold, Bitcoin can also be stored more easily than gold which requires a safe. Actually I don't like to compare gold with Bitcoin because basically it's very different so the comparison won't really match between the two because each of them also has its advantages and disadvantages.
Bitcoin was created to provide transaction efficiency, so there is no need to have a physical form. I've heard it exists, but it's just a form of some kind of coin that contains a wallet address and key. So bitcoins remain in the wallet, not the physical one. If bitcoin is created in physical form then that's a setback. Digital money was created to create efficiency and today's metal or paper money has its drawbacks. That weakness is masked by crypto or bitcoin. And currently CBDC is formed and it mimics crypto technology, not metal or paper money.
if bitcoin was to be a physical product, then no it will not be physical product. the only good thing for bitcoin is that when you want to buy, you sell with it and wait for it to make a profit.
the good thing about bitcoin is that no one knows what bitcoin is.
the good thing about bitcoin is that no one knows what bitcoin is.
yes, physical business is good, no doubt the internet is a big help, but some people like to play bitcoin in their gambling and they play bitcoin also when gambling they can get interest from people. that can help to make more money, and that has been proven many times in other industries and online casinos also give interest to many customers who can easily purchase bitcoin in the online casinos.
Bitcoin's intangibility and digital nature are among its unique features that make it an attractive investment option for many.
Unlike physical products, it can be easily stored, transferred, and secured without the need for intermediaries.
Unlike physical products, it can be easily stored, transferred, and secured without the need for intermediaries.
If bitcoin is a physical asset, it will not be able to surpass gold because bitcoin is man-made, so we can create as much as we want, and it will become useless. Your hypothesis is unrealistic, unreasonable, so there is not much to discuss. Bitcoin is a new technology in the world, and that is what makes it different, if it is a physical asset, it is too trivial to be mentioned.
Bitcoin is even better without being physical and apart from physical things that differentiate it from other assets such as gold, Bitcoin can also be stored more easily than gold which requires a safe. Actually I don't like to compare gold with Bitcoin because basically it's very different so the comparison won't really match between the two because each of them also has its advantages and disadvantages. ~Snip
Privacy should always be the first priority in our life. Physical assets are not the one that can assure you the privacy you need. Also, not those which are centralized. Bitcoin is the one that can assure you that, and all thanks to Satoshi and everyone else who have contributed to this cause. I am not saying that bitcoin is immune to such things. But it is the only thing capable of doing it if you can use it in that way. It is totally up to the person who uses it and how they use it.
Freedom, decentralization, your personal asset. All this can be achieved through Bitcoin, which would never be possible if it was a physical asset.
this is an interesting topic because sometimes I also like to think that way, namely what if bitcoin is made physically, but in the end my thoughts are interrupted because I think if bitcoin is made physically how do I transact buying and selling which is sure the transaction will be more complicated because we have to drive a car or motorbikes just to sell btc and deliver it to people who want to buy btc or the post office and so on.
so i think the current btc is the best.
so i think the current btc is the best.
The first time I heard about Bitcoin, I didn't know what it was, but I certainly didn't have a physical asset in mind. I had already worked with some other electronic payment systems and thought it was something like that. A new trend that will soon the die just like everything else does. Fast forward several years later, and here I am.
The first sentence in the whitepaper tells you what bitcoin is. Any source that explains it used the words digital, virtual, electronic, etc. None of that should associate you with a physical asset. It wouldn't even make sense or make the global payment system more efficient. Me possessing physical bitcoins doesn't make it easier for me to pay someone in South America.
The first sentence in the whitepaper tells you what bitcoin is. Any source that explains it used the words digital, virtual, electronic, etc. None of that should associate you with a physical asset. It wouldn't even make sense or make the global payment system more efficient. Me possessing physical bitcoins doesn't make it easier for me to pay someone in South America.
Jump to: