If bitcoin was to be physical product? - page 3.

Rruchi man

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

But bitcoin is cool private investment nobody knows what's going on, on your devices only you.

Bitcoin will remain private to you if you keep it to yourself to ensure your privacy. Many people especially newbies to bitcoin have the problem of not keeping their investment in bitcoins private, they go ahead to tell friends and family that they investing in bitcoins, and that breaches the idea of keeping it to yourself.

Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

Would you have involved if bitcoin is a physical product?

It is difficult to imagine bitcoin as a physical product, but yes I would still be involved. If bitcoin did not start as digital, but had same benefits as it has currently somehow for investment and transactions, I will still have an interest in it.

Magic-Money

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Bitcoin business deal with privacy and online digital currency that work online with a less stressed of paying shop rent or other bills attached, which many institution and individual enroll Bitcoin business which no one can see each other quantity of Bitcoin holding on like other traditional business doing physical knowing how many good's has in the shop. Hence Bitcoin business is limitless business which is the way you present your self we determine you're partner your worth net in the Bitcoin business.

karabiber

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Societies are more curious about the things they cannot see and touch but they also have difficulty in understanding something they cannot see. We need to get Bitcoin to more people. If Bitcoin were a physical product, i would definitely own it and that would be cool.

Of course, there will be difficulties in Bitcoin being a physical product. Storage cost is one of them. But if we want to establish a new currency or exchange system, we no longer have to do it physically but digitally. The world population is increasing and the cost of fiat money is causing inflation.

davis196

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Quote

People love privacy in business and bitcoin is one profound individuals investment business with the public necessary sees your progress. Physical business attracts enemies, hatred, criminals, stress and energy, even witchcrafts (enemies of progress). But bitcoin is cool private investment nobody knows what's going on, on your devices only you. That in many ways bitcoin is more advantageous to other business investments with lots of benefits, this is more reason why it should be encourage to be accepted as a global digital assets. Would you have involved if bitcoin is a physical product?

You could buy stocks, trade on the FOREX markets or put your money in an index fund. Nobody would know that you are doing this, unless you are open about it. Isn't this the same as Bitcoin/cryptocurrency trading/investing?
The government and many centralized crypto exchanges(that require KYC) know who you are and what you are doing. When you buy BTC/crypto most of the time you are required to verify your identity. This is quite the opposite of complete privacy.
I would never be involved with Bitcoin, if BTC was a physical product, because physical products require shipping and handling. Grin

summonerrk

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

Let me say, when the first time you heard about bitcoin, you ...
...
...physical product?

We are used to the fact that jewelry and money have a physical embodiment. Gold, diamonds, then coins and paper money. The world quickly got used to plastic cards, although we can only see the balance of our money on the screen.
Nevertheless, we have cards that have a completely physical embodiment. But bitcoin is a thing that we cannot touch or feel. Nevertheless, it is there.
It, like other cryptocurrencies, cannot have a physical embodiment, because it works on the blockchain. And distributed all over the world.
Accepting bitcoin is a matter of habit.

GeorgeJohn

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Quote from: hugeblack on April 22, 2023, 09:32:22 PM

Over time, most of us will not enjoy privacy when using Bitcoin due to the many restrictions imposed by the government, and with all the money that is invested in tracking transactions and the effort to close all services that enhance privacy, I do not think that the average user will be able to keep his currencies without disclosing them to the government.

In addition, Bitcoin is far from the high privacy that cash offers.

It's obvious that while people continue maintain the frequency of having bitcoin is due to its security status, because its obvious that if bitcoin happens to be physical government would have change it narrative and by now it wouldn't be valid again, so when you check the turn up bitcoin since its wasn't a physical product, its what gives bitcoin the temerity to maintain its value even though it falls today or neither tomorrow. But from another perspective, do you know that if assume bitcoin wasn't a digital currency that has privacy government won't have not disturb the existence of bitcoin to such length, but nevertheless since Bitcoin has survived government throughout the day it was launched and till now, I don't think government have any effect on bitcoin existence and even the restrictions is not longer holding water over the restrictions on some any other countries.

avikz

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

Let me say, when the first time you heard about bitcoin, you begins to wonder what is it all about and finally you gets to see it as physical product like lands, cars, gold or diamonds that's instances. This products also people invest in it but not everybody probably the rich, I believe many people won't have had the money to buy bitcoin or even put interest even if you have the money.

People love privacy in business and bitcoin is one profound individuals investment business with the public necessary sees your progress. Physical business attracts enemies, hatred, criminals, stress and energy, even witchcrafts (enemies of progress). But bitcoin is cool private investment nobody knows what's going on, on your devices only you. That in many ways bitcoin is more advantageous to other business investments with lots of benefits, this is more reason why it should be encourage to be accepted as a global digital assets. Would you have involved if bitcoin is a physical product?

If Bitcoin was issued as a physical asset, the most prominent features of Bitcoin wouldn't have existed - privacy and anonymity. So I guess, then Bitcoin would have become any other assets like gold, land etc. etc. So Bitcoin wouldn't have become a revolution. It would have been treated like any other normal investment or currency system. It wouldn't have anything radically different than the current system and it would have been much easier for the enforcement agencies to stop the spread of Bitcoin.

In a nutshell, Bitcoin has survived and thrived, because it is an internet-based currency system that is controlled by none.

landheer

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If bitcoins were to become physical goods I think that would destroy bitcoins and the point of destruction here is that no one is going to want to invest in btc.

just try to imagine who would want to buy 1/2 piece of bitcoin if bitcoin is in physical form, and in my opinion what makes people interested in investing in btc is because bitcoin is a digital currency that cannot be touched.

Despairo

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@OP you're just saying if most people who buy and invest Bitcoin are care with their privacy, you're wrong because most of people bought their coins through centralized exchange and they don't mind to share their holdings to their social medias in order to let anyone know if they're rich.

Quote from: MoonOfLife on April 23, 2023, 12:39:46 AM

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.

Do you think gold and other mineral resources aren't scarce? if Bitcoin was a physical product, it's not always the product can be produced freely as much as you want.

Quote from: Mr.corol on April 23, 2023, 12:10:49 AM

If Bitcoin was a physical currency instead of a digital currency, there would be many problems. There were various problems including buying and selling. No one would be interested in investing in Bitcoin.

What problems? how you can sure no one will interest to invest in Bitcoin when there are many people want to buy precious metals? many people also trade Bitcoin through direct P2P.

MoonOfLife

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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.

Mr.corol

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

. Would you have involved if bitcoin is a physical product?

If Bitcoin was a physical currency instead of a digital currency, there would be many problems. There were various problems including buying and selling. No one would be interested in investing in Bitcoin. First of all, what do you make bitcoin physical currency with? Think if Bitcoin was equal to a currency if it was made of any precious metal, gold, silver, would it be worth so much. Then the price of the precious metal will not rise above it. Due to the digital currency has gained recognition all over the world. A physical currency would not have created such a stir in the whole world.

Similificator

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

Let me say, when the first time you heard about bitcoin, you begins to wonder what is it all about and finally you gets to see it as physical product like lands, cars, gold or diamonds that's instances. This products also people invest in it but not everybody probably the rich, I believe many people won't have had the money to buy bitcoin or even put interest even if you have the money.

People love privacy in business and bitcoin is one profound individuals investment business with the public necessary sees your progress. Physical business attracts enemies, hatred, criminals, stress and energy, even witchcrafts (enemies of progress). But bitcoin is cool private investment nobody knows what's going on, on your devices only you. That in many ways bitcoin is more advantageous to other business investments with lots of benefits, this is more reason why it should be encourage to be accepted as a global digital assets. Would you have involved if bitcoin is a physical product?

Had Bitcoin been in a physical form, then it would probably have a lot more owners than how much people own Bitcoin today since people feel more at ease with investing on things that they can actually see or physically touch. That is to say, if the physical Bitcoin we are talking about is still able to fully offer the same utility it has today as a virtual asset when on its physical form. If not, then it would hardly be able to gather a couple of eyes to even take a look at it. Remember that the main reason why we all are drawn into this industry is because of what Bitcoin and most of the good utility coins in this industry has to offer to us investors. And a physical form of Bitcoin just can't offer such utility. Hence, Bitcoin as a physical product is a big no for me.

Gallar

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

People love privacy in business and bitcoin is one profound individuals investment business with the public necessary sees your progress. Physical business attracts enemies, hatred, criminals, stress and energy, even witchcrafts (enemies of progress). But bitcoin is cool private investment nobody knows what's going on, on your devices only you. That in many ways bitcoin is more advantageous to other business investments with lots of benefits, this is more reason why it should be encourage to be accepted as a global digital assets. Would you have involved if bitcoin is a physical product?

Bitcoin is indeed an incredibly good asset, all crypto investors know that. I'm sure almost all the members in this forum really admire the quality that bitcoin has, including me too. Bitcoin is indeed superior in terms of maintaining privacy, good potential in the future, and its market price is always stable.

But that doesn't mean that other businesses that exist today are not good or unsafe. any business always has advantages in their respective fields, we must think realistically. Don't think there is no good business besides investing in bitcoin, if you think like that, it means you have never experienced business in other fields. because right now, I'm investing in bitcoin, while running a business even though it's still not big. And from my personal experience, I can conclude, that if you want to do business in any field, there will definitely be advantages and disadvantages.

For privacy matters, not only in business,
Even outside of business, when it comes to privacy, everyone also wants their privacy to be very well maintained, so when it comes to privacy, I don't think it lies in a job or business, but it has become a natural human trait.

And if bitcoin exists in physical form, and still remains decentralized, I will still invest in bitcoin.

Lorence.xD

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If Bitcoin would be physical then I think people would rather invest in gold since they already know gold investment which is not too complicated for them. And it would be hard to analyze it's value since Bitcoin is volatile, without it's volatility it would be hard for Bitcoin to reach it's current price. Plus the transactions would be hassle as people would like meet up to trade Bitcoin and that would be risky since it's a decentralized system there could be criminals that you can see in the movie. But it would be cool if that happened like Bitcoin came to life not only digital.

OcTradism

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

Let me say, when the first time you heard about bitcoin, you begins to wonder what is it all about and finally you gets to see it as physical product like lands, cars, gold or diamonds that's instances.

It was not designed to be something like a physical asset. It is designed as a digital asset or virtual asset as some people called it like that.

Quote

This products also people invest in it but not everybody probably the rich, I believe many people won't have had the money to buy bitcoin or even put interest even if you have the money.

You don't have to be rich or millionaire or billionaire to buy Bitcoin. Satoshi Nakamoto thought about it so he designed bitcoin with satoshi as the smallest unit. You can buy some satoshis, hundreds of satoshis or more and of course you don't have to be billionaire to buy a fraction of bitcoin.

Some people don't know about that and think they have to buy 1, 2, 3 bitcoins only. It's misinformation and misunderstanding.

CryptoBuds

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Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

...
Would you have involved if bitcoin is a physical product?

If bitcoin were a physical asset, it would be no different from assets like gold or real estate...No physical asset is decentralized, private, anonymous, and not subject to government control...In the end, it will make no difference and won't get as much attention as it does now. As for investing in bitcoin, assuming it is a physical asset, but as long as it brings great profits, I believe people will still participate because the human need is to earn a lot of money. Today, every market participant is more concerned with profit than with technology.

omoniy1

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If Bitcoin could be a physical product, it'd rely on different factors including its utility, marketplace demand, and price. It could be much like every other commodity, and person funding choices could rely on private chance tolerance and funding desires and also Bitcoin is already a widespread of a global digital assets, it has already won sizeable reputation and adoption as a virtual foreign money and keep of value, and its decentralized nature and stable blockchain era make it a famous preference for people and corporations across the world.

Stella Mese

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Indeed, if you invest physically, there are many dangers, for example investing in gold, it will be at risk of being stolen and so on, but of course everything will not be free from risk.
as well as investing in bitcoin, of course there must be risks, for example the price falls to a low while we buy it at a high price.

but in my opinion if btc is changed to physical goods in my opinion it is the same as changing the purpose of btc.

lizarder

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What makes people choose bitcoin because of its advantages that are not owned by other forms of investment, we are not tied to anyone and we are the sole owner of full control of the assets we own. So considering bitcoin to be the same as any other product has no basis in that it functions very differently and as far as I can see the power to maintain its value long term is one of its main strengths.

Quote from: Godlovesyou on April 22, 2023, 11:59:10 AM

Would you have involved if bitcoin is a physical product?

It never crossed my mind that bitcoin would be a physical product and it never could be because it goes against what it does. If bitcoin was like any other physical product then today we don't see any power from it and many people would think of bitcoin just like any other physical product.

Where did this idea come to your mind? have you read the White Paper? To be honest, the level of rationality people believe in bitcoin because other products don't have the advantages like you mentioned, that basis will refute all your ideas about bitcoin as a physical product, even if you say if If possible.

hugeblack

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Over time, most of us will not enjoy privacy when using Bitcoin due to the many restrictions imposed by the government, and with all the money that is invested in tracking transactions and the effort to close all services that enhance privacy, I do not think that the average user will be able to keep his currencies without disclosing them to the government.

In addition, Bitcoin is far from the high privacy that cash offers.

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