No 😂
We already have paper wallets, do you see people giving them around? I am aware of some instances where people did give paper wallets to waiters etc.. but how usual it is ?
It is not safe, not tradable, can't be converted easily to online version, does need valid third party on the go to make it happen. The current system does need KYC you think that won't? That won't be governed by a body? You do have fiat to exchange, what would you even do with it? The coffee is 4.50$.. here have a physical Bitcoin! Np keep the change. Sorry sir the value just went down ! You gotta pay more.
Topic: Is the world ready to embrace physical bitcoin? - page 3. (Read 537 times)
Sorry but a "Physical Bitcoin" is impossible with the current protocol and I don't think there's a way to make an actual physical version of a bitcoin.
Besides this, which is a very good point, people nowadays barely use cash because they mainly use phones to pay (Apple Pay, Google Pay, etc), what is the point to create a physically version of something that was born to be digital? Would you use a horse to move your car? It's the same thing. 
Characteristically, btc will disappear if it has physical properties, because as we know btc is digital money whose value is not felt like fiat, it's quite a hassle if a physical form is created,
As some kind of merchandising, why not? It would be cool to be able to pay some sats from your pocket, with no need to use smartphones. Physical coins could become some sort of fetiche for many Bitcoin users, and help with adoption too.
We're actually ready for both, physical and digital. We're from physical so that's not really a question anymore.
Knowing that we're on the digital age and that's what bitcoin is, having a physical coin that's pre funded is just going to be like a cold storage for someone who wants to keep it for long.
It will serve just like a memorabilia.
Knowing that we're on the digital age and that's what bitcoin is, having a physical coin that's pre funded is just going to be like a cold storage for someone who wants to keep it for long.
It will serve just like a memorabilia.
I don't think so there is any need of physical existence of Bitcoin. If you are gonna make the world digitalized, then no need to even think about physical Bitcoin. Bitcoin gonna change the world into digitalized.
Agree 100% about this why we need physical bitcoin unless it can be used as merchandise rather than using physically we can using lightning network and make the transaction even faster for daily transaction or using some kind of crypto debit card. or using efficient chain but still crypto would be great
Sorry but a "Physical Bitcoin" is impossible with the current protocol and I don't think there's a way to make an actual physical version of a bitcoin.
Those Casascius coins are actually just fancy "Paper Wallets".
For those who are unfamiliar with the term, here's the information about paper wallet: en.bitcoin.it/wiki/Paper_wallet
And since those paper wallets are made by another person, it's not even compliant with bitcoin's trustless system.
Those Casascius coins are actually just fancy "Paper Wallets".
For those who are unfamiliar with the term, here's the information about paper wallet: en.bitcoin.it/wiki/Paper_wallet
And since those paper wallets are made by another person, it's not even compliant with bitcoin's trustless system.
The original and most famous physical version of Bitcoins was Casascius Coin, created by a guy in Utah
Certainly, the fact and provenly discussed, Bitcoin is not a thing and will never have a physical form. But what if the world suddenly change and opt to in physical form, are we ready to embrace it?
If you think about this statement a little while looking at the world around you, it is obvious how silly it sounds. Forget about bitcoin for a moment, you can see that the world is moving towards become more digital and the physical form of money is slowly fading away. So why should bitcoin, the currency that was created to be digital from the start, go backwards and have a physical form?!Certainly, the fact and provenly discussed, Bitcoin is not a thing and will never have a physical form. But what if the world suddenly change and opt to in physical form, are we ready to embrace it?
Besides, "Casascius" and other similar objects were never "physical form of bitcoin" regardless of what they named them. They were clearly a collectible that only collectors or super enthusiasts were gathering as a "fancy" object not as a physical currency. Most of the bullet points you provided as reasons were wrong.
I don't think so there is any need of physical existence of Bitcoin. If you are gonna make the world digitalized, then no need to even think about physical Bitcoin. Bitcoin gonna change the world into digitalized.
You should try resizing your images, as it makes it a bit difficult to read through the body of text.
Digital Bitcoin already serves all these purposes more efficiently than any physical form would, making it redundant to actually create one.
In fact, one of the qualities of Bitcoin is it's digital form. Making it easy to carry large amounts anywhere and exchange any fraction you want.
- To be used for the purchase of goods or services
- To facilitate the storage and/or management of Bitcoin
- To make them available for market transactions
- To act as an investment vehicle
- To be used for the purchase of goods or services
In fact, one of the qualities of Bitcoin is it's digital form. Making it easy to carry large amounts anywhere and exchange any fraction you want.
Adopting bitcoin as a physical asset is kinda like going backwards, no? Especially knowing that verifiability would be kinda difficult(unless you're using an Opendime, which is like $20 a piece). It's mostly a solution to a problem that isn't that that much of a 'problem' (aside from a few instances) in the first place.
The original and most famous physical version of Bitcoins was Casascius Coin, created by a guy in Utah named Mike Caldwell, which made of brass, with gold electroplating. This coin comes in different shapes, designs and forms.
A Casascius physical Bitcoin showing an eight-character code (Source: casascius.com)
This physical Bitcoins were pre-loaded or pre-funded with a certain amount of Bitcoin, such as 1, 5, 10, 100 or 1000 BTC. The coin also include both an identification number and a hidden private key.
The main reason for designing these coins was:
However, in 2013, Caldwell had to shut it down. The reason for shutting down was because of the intervention of FINCEN due to lack of required licensing to operate.
Certainly, the fact and provenly discussed, Bitcoin is not a thing and will never have a physical form. But what if the world suddenly change and opt to in physical form, are we ready to embrace it?
Sources:
https://phemex.com/academy/what-is-physical-bitcoin
https://www.cnet.com/culture/are-physical-bitcoins-legal/
https://www.analyticssteps.com/blogs/what-casascius-coin
A Casascius physical Bitcoin showing an eight-character code (Source: casascius.com)
This physical Bitcoins were pre-loaded or pre-funded with a certain amount of Bitcoin, such as 1, 5, 10, 100 or 1000 BTC. The coin also include both an identification number and a hidden private key.
The main reason for designing these coins was:
- To be used for the purchase of goods or services
- To facilitate the storage and/or management of Bitcoin
- To make them available for market transactions
- To act as an investment vehicle
- To be used for the purchase of goods or services
However, in 2013, Caldwell had to shut it down. The reason for shutting down was because of the intervention of FINCEN due to lack of required licensing to operate.
Certainly, the fact and provenly discussed, Bitcoin is not a thing and will never have a physical form. But what if the world suddenly change and opt to in physical form, are we ready to embrace it?
Sources:
https://phemex.com/academy/what-is-physical-bitcoin
https://www.cnet.com/culture/are-physical-bitcoins-legal/
https://www.analyticssteps.com/blogs/what-casascius-coin
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