Topic: Physical bitcoin - Is this the future? - page 3. (Read 3394 times)

I don't think physical Bitcoin can be considered as the future of Bitcoin it is like a step back from the future because Bitcoin was introduce to eliminate the physical use of currencies for many reasons such as security, convenience and many other and if we again turn Bitcoin into physical form what is the different the crypto world has made to the world and will there be a difference between Bitcoin and United states dollar   

Bitcoin is a decentralized virtual currency and thats it.
Its uniqueness is tied to that feature
,
It can never become a paper money.

I really don't think that it is possible because all the physical money is replaced with bitcoin and they're not having a need to print all those 21 or something decimals for bitcoin cash, it is insane in the useless.

I'm sure that the physical Bitcoin will kill many of Bitcoin's virtues, and he will lose by comparison with cash in the currency, in the sphere of security from the state.

I don't see a point in having physical bitcoins (or any other cryptocurrencies) as then we would lose some of the key features that cryptocurrencies are bringing into the game. I think debit cards are as far as we will get to physical form.

 Yes Bitcoin do exist in physical form. You may don’t know that IN US 500+ ATMs were installed for BTC - Bitcoin and in Israel capital there are 2 ATMS in which it is reported that 1 is working while other is malfunctioned so it undergoing some correction.
 So, if you’re thinking that BTC-Bitcoin is just a virtual currency then update yourself. Keep in mind that yet no country has given Bitcoin a legal tender (Currency) status.

Bitcoin in physical form is useful but in physical will be really dangerous to use because imagine keeping over 6000 dollars worth of note inside your pocket during the day can you actually live without fear and continue to world that someone will take from you or will lost notes  so it would be really difficult thing to do           

For as long as the thing is not in our hands or we do not touch it, it is normal for most of us that we can be doubtful about it. Am I so secure with my wealth? That is the question we keep asking ourselves.

Bitcoin it's sacred on the internet, is it the future of Bitcoin physics or is it still a long chain after, the physical bitcoin is the future? Man, the main purpose of bitcoin is completely wasted. It's not bitcoin anymore. Besides, bitcoin in a physical form is more trouble and people will choose fiat money on that physical bitcoin.

Bitcoin using blockchain technology because its transparant technology and easily to track transaction. Its hard to make fake bitcoin if bitcoin on digital form and if bitcoin is physical form, its much chance for people making fake one

Yes, this is one option. It would actually makes sense if you would put address on these notes. So people could always check that there really is a bitcoin on that address. Of course this means centralization.
I wouldn't say this is like current cash (FIAT) because it isn't backed up by anything. It was true until gold standard still applied.

If someone will decide a physical Bitcoin for payments, they will probably get a lot of Bitcoins, lock them in and release paper currency that will be backed by those Bitcoins. It will work just like current cash.

Hm, did you post this in the right thread?
In general you always have private key or mnemoric seed for certain bitcoin wallet. So it is your responsibility to take care of security (make copies of them and store them in a safe place). There is no insurance though.
But in case of physical bitcoin this wouldn't be possible since you shouldn't get copy of private key until you "destroy" that coin/bill. It would become worthless after you "open" it.

If our atm card is lost, maybe we can still take care of it and our balance will be safe. But if I imagine our bitcoin is gone, where should we take care of it? Is there still hope of being able to return it? Or at least can we use insurance services on bitcoin?

Read OP I think advantages are explained pretty well.

Advantages:
1. No fees - Only fee it would be paid would be in the process of making physical bitcoin and when you would send BTC from the physical bitcoin. And both of these fees can be at minimum, because there is no need to hurry. When you are spending physical bitcoin there is no fee required. The only fee could be from the person who receive bitcoins as payments.
2. Simplicity - It would finally become simple for old grandpa or grandma to use Bitcoin. No wallet, no computer, no explaining, no electricity...
3. No need to understand everything - We don't understand all the things we use everyday (how computers work, how internet works, how cars work...) but we still use them with no concerns. So it should become same with Bitcoin, we just need to make thing so simple that anyone can use without understanding it. And physical bitcoin is a big step towards this goal.
4. Good advertisement - If anyone can use BTC as payment method with ease it is very good for Bitcoin.
5. Interest - You can start to explain about Bitcoin, blockchain with something to show. Now only people who can use computer are able to operate with bitcoins. If you have something to hold anyone can start from there. This would in my opinion raise interest in blockchain technology a lot.
6. Secure - If coins would be safe (disadvantage n.1) this would be really safe currency to use. It would actually be backed with blockchain technology which we know is impossible to break, for now.

I do not think that this will affect the quality of bitcoin.

Hello

I still don't understand this logic, I'm not opposed to it but why bother making so much work for that small thing that will change. Bitcoin will increase but I still don't see any reason to have physicality.

I don't think it is right and if the news is true then also i must say there is no need of that because digital means virtual if it become physical then the name digital become meaning less.

Already there are debit cards planned that will use bitcoin and other cryptocurrencies to make transactions. I am not sure bitcoin can get more physical than that, as it's essentially comprised of software code. These debit cards will become a hit once the bitcoin price stabilizes or the bull market resumes.