Topic: If bitcoin was to be physical product? - page 4. (Read 519 times)
First things first — how would you even make a physical version of bitcoin with it being decentralized and trustless? Someone has to physically mint the coins. The closest thing to physical bitcoin is obviously gold, but you can't really replicate gold's sort of 'natural' supply distribution.
Would you have involved if bitcoin is a physical product?
No, I wouldn't involve in it because I am really happy if Bitcoin is only to be like now, I am very comfortable that Bitcoin doesn't have development as your suggestion. Because it would be very confusing, and that is the old way which does fit with fiat. I don't know where you got the idea. But, if you still think it would happen, better to own just like physical Bitcoin like Casascius.
Bitcoin was designed to be a virtual payment system that no centralized body can control and that can be traded easily via P2P route without any restrictions. Such thing was only possible in software form, if something like Bitcoin was physical by nature then the inventor of that product might not be able to hide himself from centralized bodies. The nature of Bitcoin is decentralization, and purposefully Satoshi set the Hard limit at 21 million bitcoins. And, that genius guy gave this world a gift, especially to us in this tech world.
Physical products are different from virtual products in many aspects. Let's still guess that if something like Bitcoin was physical then it must have to be made out of physical elements. How would volatility like this could ever be achieved with a physical product, and how would others transfer that product anonymously? The answer to those questions is simply not possible at all. No body can trade a physical product without any interference from centralized bodies. That's the reason Bitcoin was made as a virtual product and it will remain in same state, it will never be released as a physical item.
Physical products are different from virtual products in many aspects. Let's still guess that if something like Bitcoin was physical then it must have to be made out of physical elements. How would volatility like this could ever be achieved with a physical product, and how would others transfer that product anonymously? The answer to those questions is simply not possible at all. No body can trade a physical product without any interference from centralized bodies. That's the reason Bitcoin was made as a virtual product and it will remain in same state, it will never be released as a physical item.
Myself hadn't got any thoughts on whether it had got physical presence or not, simply I believed in it and tried with a transaction and I enjoyed it. Further started to understand well about the interesting things associated, along with the goodness of growth. At the beginning while hearing about it everyone will have a question how does it can hold value without have its physical presence. Slowly we'll understand and the best things will happen further. Very important thing then only we'll find what additional expenses every government is going through with the printing of currencies. Anyhow the need of physical currency lasts forever as everyone can't go digital as the people aren't prepared for it. Maybe after generations things might change.
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?
This is also one of my reason why I love crypto, people don't really know what is happening with you if you wouldn't tell them, the only negative side is that most of the time people tend to get crazy ideas when they see you being successful in life or buying things that you once couldn't afford.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?
I know some people who had been accused or rumored to be doing something illegal like selling drugs
.Some of my family members also suspect me before that I was doing something like that since I am earning a lot even though I am not leaving the house.
If bitcoin took on a tangible guise, like real estate, autos, gold, or precious stones, it would indisputably be among the most coveted goods out there. However, as you astutely emphasize, the true allure of bitcoin springs from its privacy and the liberty it grants to individual investors. As a crypto-enthusiast for ages, I can vouch for bitcoin's awe-inspiring potential and perks as a confidential investment. The capacity to deal anonymously and securely, minus intermediaries or middlemen, revolutionizes the financial landscape.
But such liberty entails immense responsibility. As individual investors, it's crucial we stay alert and become prudent wealth custodians, shielding our private keys and defending our investments against ill-intentioned actors and external hazards. Although bitcoin isn't a physical product per se, its ethereal character and the influence it embodies hold the power to reshape finance and empower people like never before.
But such liberty entails immense responsibility. As individual investors, it's crucial we stay alert and become prudent wealth custodians, shielding our private keys and defending our investments against ill-intentioned actors and external hazards. Although bitcoin isn't a physical product per se, its ethereal character and the influence it embodies hold the power to reshape finance and empower people like never before.
You will be surprised that people will invest in Bitcoin as a physical product, it may take a while just like it did also as a digital currency but it will gain recognition in the years that roll by.
Obviously, there will be people investing to this kind of scheme but it doesn't make sense because it beats the purpose why Bitcoin is created. Remember Bitcoin is a kind of electronic transfer, not physical transfer.
Remember that BTC's unique properties, such as its decentralization, immutability, and digital nature, are what make it valuable and attractive to users. These properties would not exist if Bitcoin were a physical product, and it would lose its potential as a decentralized digital currency.
Bitcoin in physical products will defeat its purpose. So I don't ever think or imagine Bitcoin as a physical product. There may be coins that are created to serve as a physical wallet for BTC but its proven to be risky just like what happened recently where the creator sweep the Bitcoins on its released loaded physical coins.
Obviously, there will be people investing to this kind of scheme but it doesn't make sense because it beats the purpose why Bitcoin is created. Remember Bitcoin is a kind of electronic transfer, not physical transfer.
You will be surprised that people will invest in Bitcoin as a physical product, it may take a while just like it did also as a digital currency but it will gain recognition in the years that roll by.
Obviously, there will be people investing to this kind of scheme but it doesn't make sense because it beats the purpose why Bitcoin is created. Remember Bitcoin is a kind of electronic transfer, not physical transfer.
You will be surprised that people will invest in Bitcoin as a physical product, it may take a while just like it did also as a digital currency but it will gain recognition in the years that roll by.
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.
Physical products like lands, cars, gold are multi-billion dollar establishments with investments from the rich and middle class and sometimes the poor even. Every investment cannot be virtual as each serves their different purposes, I for example would definitely not buy a virtual car or a virtual land in the metaverse, but as a transaction method and a store of value, being digital and private has its advantages.Would you have involved if bitcoin is a physical product?
Bitcoin as it is designed cannot be a physical product. This would limit its ease of transfer or it's ease of storage meaning it loses somebody it's features. I can be interested in Bitcoin collectibles.
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?
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?
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