I think Bitcoin grew to the current extent just because of the excellence of its technology. I am not sure if it would have been physical then it would have been just something old by now. Bitcoin is special because it is digital, maintains its data integrity, and is irreversible. Do we have such properties in the physical coin? They tend to wear and tear over a period of time, they can mint duplicates of it, and they can also get lost in the process of transacting. If physical appearance had something then in day today's activity we would have seen gold as a precious coin but it lost its transacting value "on a daily basis" since it's getting costlier to carry and transact small amounts. It would also become highly life-threatening if someone just sees and senses you are carrying a kilo bar in your car.
Bitcoin is digital, you don't have to carry the burden of it, and with an internet connection, it can be transacted anywhere in the world. It secure and anonymous that is not achievable with the physical presence of any sort of currency.
Topic: If Bitcoin were a physical currency. - page 2. (Read 342 times)
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
I wanted to dismiss this imagination as nonsense as many others have already done here in the thread but on a second thought I decided to refine the idea. If bitcoin was to be a physical currency, it won't have a Blockchain connection, which will make the whole essence and relevance of bitcoin unattainable.But we can imagine that bitcoin remains a digital currency, runs on the Blockchain and at the same time have a physical representation in terms of fiat. It is not actually making alot of sense but I am trying to roll the lane of Op's imagination.
So, if bitcoin being a digital coin, has a physical representation and people can handle and feel it, I instead think that it will encourage adoption. Why some people haven't adopted bitcoin yet could be that they cannot see it or hold it in their physical wallet to buy groceries with.
Who would control bitcoin if bitcoin was a physical currency? If it is controlled by one country, they will think that they are superior to other countries.
There is no difference between bitcoin and other local currencies and the price will not be like now.
Fortunately, bitcoin is a digital asset so many people can buy it in different amounts.
And fortunately, no one can control bitcoin so bitcoin can stand alone.
There is no difference between bitcoin and other local currencies and the price will not be like now.
Fortunately, bitcoin is a digital asset so many people can buy it in different amounts.
And fortunately, no one can control bitcoin so bitcoin can stand alone.
If Bitcoin were a physical currency, its value would not have gone this far, and just the way people do fake currencies and gold, there will be fake Bitcoins, which is not proper, and moreover, if it were a physical currency, the government would be in control of its circulation and also its value.
This is part of the major challenges associated with physical currency and one of the reason why it’s devaluation happens. A physical currency is always expensive to print, expensive to maintain and then needs a central authority or mint to print it. If bitcoin was a physical currency the advantage of it not been manipulative wouldn’t be there because it would just be printed more to cause large circulation of it and causes it to devalue.
Other things like store of value and limited supply wouldn’t be also there. Another biggest issue is cross boarder transactions that can be done swiftly without intermediaries will not be possible with a physic currency of it
It's nothing different with gold, gold is scarce and it was decentralized before not many people hold it. Now most of golds are hold by whales and institutions, they can easily manipulate the price. It also increase the possibility of scam because someone will try to create replication and since Bitcoin is a physical currency, there's no privacy anymore.
It's a failed project IMO, but since Bitcoin is a digital currency, the project become successful.
It's a failed project IMO, but since Bitcoin is a digital currency, the project become successful.
Remember, Bitcoin was created to solve the financial problem and provide opportunity not only to poor people but also to entrepreneurs and every country that recognizes the concept of Bitcoin and why it was created.
Bitcoin was not created to solve financial problems. Solving those problems is task for governments, policy makers, politicians, congressmen and women.Bitcoin is a transaction mean that is centralized, censorship-resistant, borderless and unbanked people can access Bitcoin easily. But Bitcoin is not here to solve poor, poverty or many chronic issues for the whole nation or world. It gives people one more option, another open door, freedom to make their choice.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
It is no different from a natural or ordinary currency, no sense, and no opportunity for sure for anyone. So why did you think this? You are describing a situation that is not the case in reality. Or you can't believe that Bitcoin is not even physical money but has a value that is dear to the market while fiat currencies have not increased in value like Bitcoin?
Remember, Bitcoin was created to solve the financial problem and provide opportunity not only to poor people but also to entrepreneurs and every country that recognizes the concept of Bitcoin and why it was created.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
This has been said many times on the forum, if you search you will find several topics similar to yours. If bitcoin were a physical currency, it would be trash and no one would need it because it would be a centralized product and not a decentralized product like it is today. When bitcoin was physical money, it would be easy for governments to control or ban it, they would not face the current difficulties in banning bitcoin. But fortunately things don't happen like that, bitcoin is virtual currency and is decentralized.
It won’t create a major difference to be honest. This is because, the features will be same, the only difference will be its digital form that will be now physical. People who used to treat it as digital asset will now treat it like physical asset. That’s the only thing that will affect everything. Yes the mobility thing and storage issue would have created some problem, but according to me those won’t affect a lot.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
What makes Bitcoin famous is Bitcoin's ability to make transactions more secure, faster, anonymous, decentralized and cheaper. The features provided by Bitcoin are the magnet that makes Bitcoin a trusted and popular digital asset to this day. Moreover, the blockchain technology it brings makes Bitcoin not just an ordinary digital asset, but a digital asset that is able to provide a new decentralized financial system that is free from government intervention. And that's what makes Bitcoin a choice for people globally.
It has given people the uncommon privilege of enjoying privacy and bypassing financial middlemen.
Bitcoin is not a privacy coin unless you go for it and be private the way you want to be. Most people just use bitcoin the way they thought it is and not knowing the privacy that you are referring to. But if comparing bitcoin with fiat, it is more private. OP it is true that the digital nature of bitcoin has made it easy to acquire it. But don't also forget that many countries also have CBDC and they are not still popular.
People are not foolish about CBDCs because they know they are fiat. CBDCs are not the first fiat that is digitally created because fiat has been existing in digital form since many years ago before CBDCs were created. The main reason bitcoin adoption continues is because of its increasing value and price and people see it as an investment, but fiat is not like that. CBDCs are fiat. 
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
I don't know your location but if you are not from the US and Europe, I am not sure your nation's currency is popular. Many factors contributes to the popularity of a currency. My country's currency is not well-known outside our sub-region. Even in the face of daily increases in the development of more digital currency, bitcoin's popularity keeps growing which means that it is not just the digital currency status that is making it more popular. Bitcoin is popular because of its uniqueness which distinguishes it from other currencies. It has given people the uncommon privilege of enjoying privacy and bypassing financial middlemen. It has also helped people to have unlimited access to their funds which is not common with conventional fiat currency. OP it is true that the digital nature of bitcoin has made it easy to acquire it. But don't also forget that many countries also have CBDC and they are not still popular.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
Haven't you read about physical bitcoin called Casascius bitcoin? Due to regulation in United States, the coin was stopped being manufactured. So if there is physical bitcoin, the government would have seen an easy way to stop its adoption and it would become a useless coin. But bitcoin may not even be of any value if it is only existing in physical form. The blockchain that is decentralized and its digital form makes it an investment that make it well adopted today.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
If Bitcoin were a physical currency, the primary aim of creating it would have been defeated because it was created as an alternative currency to fiat currency and to give us financial freedom through its properties, which include privacy, anonymity, the ability to hold Bitcoin without any other third party being involved in your transaction, and also the ability to be your own bank by keeping your Bitcoin in a wallet that you control yourself.If Bitcoin were a physical currency, its value would not have gone this far, and just the way people do fake currencies and gold, there will be fake Bitcoins, which is not proper, and moreover, if it were a physical currency, the government would be in control of its circulation and also its value.
If bitcoin is a physical currency, it will be like fiat. Then its price will be fixed. The bigger problem is that it will be within the scope of any particular country. Then again we have to take the help of a third person for the transaction. Now the way we can transact very easily, then so many opportunities will not be available. Bitcoin is not inherently convertible to fiat.
However, if you mean 100% physicality without any contact with the digital world, then ... this is a physical bitcoin:
I've heard this, physical bitcoin with its wallet address connection and prifatkey. But of course this is a bit risky if many people know the combination of both. Currently it may only be a physical form and emblems such as toys are widely traded in online stores.
Bitcoin is the money of the future so it is already related to technology. While physical money is money that was first created and still exists today to accommodate users who still cannot use it. Like developing countries that have a population that does not know much technology.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
If Bitcoin is physical and can be touched like fiat currency, then Bitcoin is not an electronic payment system.
The value may be the same as fiat currency and has the potential to be used as a fake at any time outside the rules, such as counterfeiting paper currency. When that happens, it will be difficult for you to get it if you don't trust the currency counterfeiting group.
At another point, Bitcoin is no longer the best hedge if Bitcoin is anything like physical currency.
In real life, have you ever thought about what if your idolized fiat currency became an electronic payment system that you could use as an investment asset?
Just live your life according to reality, bro.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
Why bother making an analogy with something that doesn't make sense? Bitcoin is a digital currency, yes its form will definitely be digital. If you want to make an analogy with Bitcoin in physical form, don't bother. OP, try looking at gold coins, limited quantities, selling in shops or someone who wants to buy the gold coins. Bitcoin will remain digital!
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
So Bitcoin is lucky as a digital asset because anyone can buy it without having to think about where to go. Apart from that, Bitcoin in physical form can also be duplicated, especially with current technological advances, it is difficult to distinguish between genuine and imitation. With its existence on the internet and Bitcoin using an blockchain mechanism, it cannot be duplicated and cannot be imitated.If Bitcoin becomes a physical currency, it means there are regulations governing it and perhaps not many people are interested. And it's certainly not much different from antique items from ancient times that are only owned by a handful of big collectors.
I'm new here and don't know much about bitcointalk forums. But I thought about Bitcoin for a while. At one point I wondered what it would be like if Bitcoin was a physical currency instead of a digital currency. It would not have gained so much popularity, and its price would not have increased so much. If it were a physical currency, it would be very difficult to buy, how would you buy? And had to go to different stores to sell or buy. How difficult it would have been then. Are you thinking about this?
I agree with the forum member above. You should define "physical currency".
Both gold/silver coins and paper money are physical currencies.
I assume that by "physical Bitcoin" you mean BTC that was printed on paper.
1.If BTC was a 100% paper currency everyone would just try to create counterfeit paper BTC and there would be no central authority to fight against all those counterfeit paper BTC. The governments won't do anything, because paper BTC is not legal tender.
2.I don't agree that physical BTC would be very difficult to buy. There will be no KYC and no additional transaction fees when dealing with offline sellers and buyers, but the security of the buyers and sellers would become a big problem in offline trading.
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