Paper Bitcoin eth, ltc and others - page 2.

DBronze98

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Quote from: Polo7 on September 29, 2019, 03:08:31 PM

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!

Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.

So nothing wrong with cash cash is not a devil!

Bitcoin does not have a central bank or legal organization to even define it as a "fiat".
that definition of fiat is a currency legally recognized as a legal common currency and bitcoin is not. So this idea will be eliminated.

blckhawk

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Quote from: Polo7 on September 29, 2019, 03:08:31 PM

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!

Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.

So nothing wrong with cash cash is not a devil!

Making digital currency to paper is just a waste of resources and will be completely non-sense. To start off, the price of bitcoin is volatile and it would be inefficient if the price that you hold in your bills fluctuates. It would be more of a burden than advantage to both traders, merchants and consumers. Second idea is that digital currencies are supposed to be transacted through digital means. Making fiat out of these makes it the same as the government controlled currency to avoid too much price action with monetary policies.

DaftAjax

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Quote from: BitHodler on October 02, 2019, 04:43:17 AM

1) He nails it though. I wouldn't see fiat being a problem at all if the monetary system wasn't as toxic due to rogue governments. In other words, the tool isn't the problem, just the one issuing it irresponsibly.

2) Fiat is the most convenient and efficient form of money. Bitcoin and other crypto currencies are nothing but a wet dream of people to replace fiat in the future. Right now they are horrible forms of money, and that is almost every aspect.

3) Another thing is that people don't want to spend something that appreciates in value, which applies to Bitcoin and gold. Fiat on the other hand is something we are incentivized to spend due to inflation.

1) It can't be helped (for now). People that utilize a form of money, naming Fiats, that can be manipulated by these so-called rogue governements(?) even if it's really convenient for citizens will have to accept these kinds of acts. Talk about politics, ugh. The government isn't transparent about this at all.

2) I agree. But the thing is, it's also the same very reason why people such as rogue governments, take advantage and use it for their own benefits. As for Cryptocurrency, you have this "freedom", you can use it however much you like.

3) I get that but why do you even invest in it if you will not spend it, per se.

meliodas

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Quote from: redsun114 on October 04, 2019, 04:28:21 PM

Quote from: ?? on ??

The idea of cryptocurrency is to be a digital type of currency and I don't think that it will be a good idea to make a physical representation of the cryptocurrency because the convenience will be gone because it is more convenience to do transactions in the cloud because you don't need to bring a chunk of paper or coins in your pocket to pay your thing because you just need to pull out your phone, get the address then send the payment securely.

Governments are even running away from these chunk of papers, because printing bitcoin in a paper will not be different from the way money is being printed and we know the issue that the printing of money has actually generated for most government, if it was possible for governments of every country not to print money, I am sure they would have halted it instantly.

Rather than halting it instantly, they are gradually encouraging the cashless society which in advanced countries, they are gradually eliminating the use of paper currency which many of their citizens are getting adjusted to, so it would just be like sending us back to what we are trying to eliminate, like you said, the idea of crypto is to be based on internet and I think it is best we leave it that way.

I totally agree, we are now in the era of being all digital and we should not get back on having a paper of money or even paper of cryptocurrencies. It is always better for us and for the society in overall to have an advancement in currency in terms of adapting to the influence of cryptocurrency and establish a payment system through the power of internet and blockchain only and not those printing mechanism.

redsun114

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Quote from: ?? on ??

The idea of cryptocurrency is to be a digital type of currency and I don't think that it will be a good idea to make a physical representation of the cryptocurrency because the convenience will be gone because it is more convenience to do transactions in the cloud because you don't need to bring a chunk of paper or coins in your pocket to pay your thing because you just need to pull out your phone, get the address then send the payment securely.

Governments are even running away from these chunk of papers, because printing bitcoin in a paper will not be different from the way money is being printed and we know the issue that the printing of money has actually generated for most government, if it was possible for governments of every country not to print money, I am sure they would have halted it instantly.

Rather than halting it instantly, they are gradually encouraging the cashless society which in advanced countries, they are gradually eliminating the use of paper currency which many of their citizens are getting adjusted to, so it would just be like sending us back to what we are trying to eliminate, like you said, the idea of crypto is to be based on internet and I think it is best we leave it that way.

exstasie

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Quote from: Hydrogen on September 30, 2019, 09:31:11 AM

There could be loopholes around those restrictions. Rather than a direct paper currency, it might be possible to print a paper voucher which can be electronically exchanged for crypto. Vouchers may then be exchanged to make transactions. There may not be laws against that! Although I can't say its something I've put time or energy into researching.

Sounds just like gold certificates. It could only be done through a trusted third party.

I'm seeing the emergence of bearer instrument-like devices, the most prominent of which is the Opendime. You can plug it in to verify the balance and pass it around like cash. If the seal is intact, the private key isn't compromised.

Given the cost and risk of hardware failure, I'm not sure how tenable they are at scale. Pretty cool though! Especially because these are truly cash-like transactions. Physical, no paper trail, no movement on the blockchain.

Ucy

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I think "paper cryptos" will do great if there are easy ways to use them. You have to make them look like real money so that people will find them attractive.
In my opinion, people will accept such paper currencies if they see others around them accepting them. So, to make this work quickly you could create a small crypto community (or communities) within a city or town or rural area. A community funded by online Crypto community but trades amongst themselves with the paper cryptocurrencies.

The physical Crypto communities have to operate ideologically, just like their online counterpart in order to survive the authorities.

fullhdpixel

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Also, at what point a person would want a paper currency over a digital one if they can use both? Imagine a world where your phone is your wallet and you are capable of paying anything with your phone (QR Codes made this possible but it is still not common) and you have paper currency as well and also cards you can pay. Which one would you prefer?

Even right now most of the transactions are via cards instead of paper in fiat currency and you are talking about a digital currency in itself, so when people are not even using fiat which is in default a paper money in paper form why would they use a digital one by printing their own? It is just not making any sense in preference.

If you asked if people should have bitcoin debit cards that would have been a good question but paper makes no sense.

Genemind

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We will only lose the real essence of cryptocurrency. It will only turn out to be physical money if that happens.
What makes cryptocurrency unique is its security where we will only be able to access it on our own. Online transactions using cryptocurrency is actually convenient enough rather than using physical cryptocurrency. I would still prefer it to stay as digital money.

lab rat hoax

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I think bitcoin is important because of not printed and can not traced. Also bitcoin tranfer fee is lower and faster than money. İn the following years, governments will keep up with this technology and they use their own digital money. Paper Money will not be used. Bitcoin is valuable because of these things.

Shinpako09

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Quote from: Polo7 on September 29, 2019, 03:08:31 PM

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!

Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.

So nothing wrong with cash cash is not a devil!

Definitely not a good idea. Crypto was made and meant for online purposes. So why the hell you will make a paper crypto currency? For what? We already have fiat which is more convenient to use physically, while crypto is more convenient to use online. You're just destroying on what crypto should only be. Also, that will take too long to be accepted. Look at the current state of crypto in our society , there are still a lot who isn't favor or wanted crypto to be there.

beej

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I think it's simply a bad and discouraging idea. Having Bitcoins and other altcoins
into paper is going to make crypto look worthless and depreciate their value at
some point. It's going to be a classy disaster, it's gonna render cryptocurrency as
an unnecessary investment and it's gonna become a kind of ruination masterpiece.
It's better at it's current form as it is. Decentralized and still preserving the integrity
with it's reluctant anonymity.

Eclipse26

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Quote from: Polo7 on September 29, 2019, 03:08:31 PM

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!

Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.

So nothing wrong with cash cash is not a devil!

Having paper cryptoccurency feels like going against on its nature. It was made to be digital. Also it would be hard to monitor its price. Imagine having a physical crypto to buy things just how you buy things with fiat, but time to time it's changing its value so you also have to monitor it every time. And besides, it will still be hard to find shops that would accept it...

Though I don't say that cash is devil, but it's still the best for crypto to remain digital as what it is in the very first place.

Mumbeeptind1963

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Quote from: ?? on ??

The idea of cryptocurrency is to be a digital type of currency and I don't think that it will be a good idea to make a physical representation of the cryptocurrency because the convenience will be gone because it is more convenience to do transactions in the cloud because you don't need to bring a chunk of paper or coins in your pocket to pay your thing because you just need to pull out your phone, get the address then send the payment securely.

I agree with this, every paper money has a unique code it can have a serial numbers with letters , if there will be paper crypto, government may be easily regulates it, and our freedom that we can do with bitcoin will be gone. we will be having a tax also, because government will be the in charge of this procedure, expect so many new rules and protocols that will be created, so Its a NO for me.

crzy

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I wont support this suggestion because paper money is a big scam and a big syndicate can easily create paper money to scam people. We have to stay online for a faster and safer transactions and that is only possible on a blockchain technology and that is because of bitcoin. If there's a paper money then I'd rather use the fiat money with a lower value, less risk at all.

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Quote from: Sithara007 on October 02, 2019, 11:51:54 PM

Quote from: gentlemand on September 29, 2019, 06:42:00 PM

Nope.

A physical manifestation means that someone had to physically create it which means they had access to the private keys which means you have to trust whoever came up with them. That defeats the entire point.

Agreed with this 100%.

Once you convert cryptocurrency from digital form to physical form, many of its advantages will be lost. For example, it becomes easier to counterfeit physical coins and banknotes. In the past, a lot of people have tried to convert crypto from digital to physical form, starting with the Casascius coins in 2013. But they were not very successful

Honestly, I'm not very well familiar with the current state of affairs in this department

And while the Casascius coins may have fallen flat on their face, heads or tails (I don't really know but let's trust you on this), OpenDime devices seem to be quite useful if you want to transfer large amounts of coins instantly as well as anonymously, without leaving any trace on the blockchain

Yeah, I understand that these USB sticks (what they essentially are) don't look quite like paper bitcoins or actual coins, but technically, they are physical bitcoins as they can be used as such. As they say (actually, Shakespeare says, so no plagiarism intended), what’s in a name?

Mumbeeptind1963

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Quote from: Polo7 on September 29, 2019, 03:08:31 PM

Do you think its a good idea to have paper Cryptocurrency in circlelation too?

Like we have fiat currency digitally we also can have Fiat Currrency as paper.

I personally think its a good idea to have btc paper Currrency or metal coins too wich Will be accepted any shops!

Second point is that the dEvil is not the paper currency or any Kind of fiat currency the devil is the just the money printing out of thin air and lending this money out.

So nothing wrong with cash cash is not a devil!

I do not agree with this, if we will be having a paper money,companies will need our details and information, also the anonymity of having a cryptocurrency will be exposed, government will also regulate the printing of papers, they can also know and track the every single distribution of this paper money. In terms of accepting in any shops, some of the shops are accepting cryptocurrency now, you need to scan their qr code and that's it, it can also prone to hoarding when we will create paper crypto.

redsun114

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It is a very bad idea because every government is thinking of how they can eliminate paper fiat, and this is why they are doing everything possible to promote cashless policy and with the Rotten that we have in fiat is why cryptocurrency was created, having a paper cryptocurrency will still eventually take us back to that old fiat system of using paper and you know that anything that has to do with physical paper will not rely on technology alone which the use of Bitcoin is meant to be digitally base.

I personally don't see any much sense in making a paper cryptocurrency, instead of that, better we leave the fiat for those who would not be able to use cryptocurrency, while we that can use cryptocurrency stick with its digital usage.

ene1980

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Quote from: Polo7 on September 29, 2019, 03:08:31 PM

Do you think its a good idea to have paper Cryptocurrency in circlelation too?
Like we have fiat currency digitally we also can have Fiat Currrency as paper.

Consider the amount of risk involved when you are carrying the private key of your bitcoin wallet in papers, the solution is to hold a certain amount as tokens and a centralized authorities can print paper currency with bitcoin as a back up valuation and put into circulation but whether any government will allow those is another question.
The closest thing we can have is a prepaid crypto debit card and it is available now.

Sithara007

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Quote from: gentlemand on September 29, 2019, 06:42:00 PM

Nope.

A physical manifestation means that someone had to physically create it which means they had access to the private keys which means you have to trust whoever came up with them. That defeats the entire point.

Agreed with this 100%.

Once you convert cryptocurrency from digital form to physical form, many of its advantages will be lost. For example, it becomes easier to counterfeit physical coins and banknotes. In the past, a lot of people have tried to convert crypto from digital to physical form, starting with the Casascius coins in 2013. But they were not very successful. Mike Caldwell was the one who created the Casascius coins, before a directive from the Financial Crimes Enforcement Network (FinCEN) forced him to shut down the business.

The method used for creating the Casascius coins were simple. A piece of paper with the private key is embedded inside the coin, covered by a tamper-proof hologram. In order to redeem the Bitcoin value, the hologram needs to be broken, and therefore the user can be assured of the value of the hologram was not damaged. Caldwell claimed that it is 100% impossible to redeem the BTC, unless the hologram is peeled off. He had even included an anti-tampering measure on the holograms.

But here, the user is trusting Caldwell, and hoping that he will not try to redeem the coins sometime later.

Topic: Paper Bitcoin eth, ltc and others - page 2. (Read 2582 times)