I don't think that making a physical version of Bitcoin makes sense. It will only work the way it was indented to work in digital form only. Although, you can make a appropriate 3d model of Bitcoin and print it with a good 3d printer. But that will not make it usable as the way it's being used today.
Bitcoin was meant to be a electronic p2p finance system, and it's currently working the way Satoshi imagined it to work. If physical version of Bitcoin was to work the same way then I'm sure that someone like Satoshi Nakamoto would have done that himself.
Topic: What a physical Bitcoin could look like? - page 3. (Read 422 times)
I don't think the technologically is what's the problem per se (could be very wrong, of course), but specifically the trust part. Something being made physical means that we need to trust a centralized entity(s) to produce the physical bitcoin.
We have things like the OpenDime which is a very interesting piece of hardware, but I don't think even the OpenDime will let me transact with confidence anywhere close to simply seeing using block explorers to see that I received BTC.
We have things like the OpenDime which is a very interesting piece of hardware, but I don't think even the OpenDime will let me transact with confidence anywhere close to simply seeing using block explorers to see that I received BTC.
Physical Bitcoin is actually a kind of a misnomer. Strictly speaking, there can't be a physical Bitcoin. Nobody can actually take that Bitcoin out of the blockchain and turn it into a physical coin or bill or penny. Bitcoin is digital, so physical and Bitcoin are actually antonyms.
Anyway, there are already a number of bills and coins that are loaded with Bitcoin. Actually, not really loaded, but they contain the private keys that give you access to the Bitcoin. There are even cards, chips, and other physical items and artworks that are also loaded with Bitcoin. If you head to the Collectibles section, you will see a number of them. You have the revered Casascius coins. You have the Lealana, BTCC, CryptoImperator, Alpencoin, and many others. You also have Bitcoin bills like Polymerbit.
But these are largely collectibles. In the future, though, it is possible that there will be bills and coins backed by Bitcoin. Just like the old days when fiat was backed by gold, there might come a time in the future when bills and coins can be redeemed for Bitcoin. As to how they would look like, I don't know.
Anyway, there are already a number of bills and coins that are loaded with Bitcoin. Actually, not really loaded, but they contain the private keys that give you access to the Bitcoin. There are even cards, chips, and other physical items and artworks that are also loaded with Bitcoin. If you head to the Collectibles section, you will see a number of them. You have the revered Casascius coins. You have the Lealana, BTCC, CryptoImperator, Alpencoin, and many others. You also have Bitcoin bills like Polymerbit.
But these are largely collectibles. In the future, though, it is possible that there will be bills and coins backed by Bitcoin. Just like the old days when fiat was backed by gold, there might come a time in the future when bills and coins can be redeemed for Bitcoin. As to how they would look like, I don't know.
Thoughts on this. Now at this time. It would be almost impossible to make a physical Bitcoin. But with advances in technology it could be possible. Maybe if you have just whole numbers of Bitcoin, eg 1 Bitcoin.
i am thinking its possible into a almost like a paper note format, with bar codes etc on it. It would be centralized in physical form almost, but i think it could be possible to actually have a physical aspect that could be moved in the real world.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
i am thinking its possible into a almost like a paper note format, with bar codes etc on it. It would be centralized in physical form almost, but i think it could be possible to actually have a physical aspect that could be moved in the real world.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
I imagine it would have to look like a coin, first and foremost. Otherwise it would be disappointing to call it a BitCOIN. Furthermore, I think it should look very technologically (designed) awesome and of course, it needs the BTC symbol for Bitcoin. So, obviously, it would look more or less exactly the same as the Bitcoin logo that everyone knows and loves. We even use that coin logo for Bitcointalk- Just take a look at your tab, lol.
But I will always see a physical Bitcoin as infinitely inferior to the real Bitcoin. Just because a physical Bitcoin is a centralized version of Bitcoin. Which is quite ugly to me and is not what Bitcoin stands for (decentralization).
they work by having the private key hidden under a tamper proof seal that way you can see a public key to see the value is there but the seal hides the private key to not claim digitally unless seal is broken
If physical Bitcoin is made for global like coin fiat, the government must have the authentic seal to make sure it never opens by people. That seal also can hide from Roentgen rays or X-rays if it has changed hands so it can be used again for buying goods or needs without transferring it to another address. I don't know How secure casascious coin, but if if proven, we can use that. 
~snip~
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
I disagree with this idea, bitcoin represents the revolution of blockchain technology and creates a decentralized asset. If physical bitcoins are created, they will look like fiat or traditional assets and will be controlled by someone, possibly a government, so this is a bad idea.
Moreover, we are moving towards the digital world, we are gradually getting rid of things that are too cumbersome, polluting, and costly to print like fiat. So creating bitcoin in physical form is not groundbreaking, if that happens, the government is just trying to control us with that idea.
Wasn't there a recent issue about how a seller here was holding the addresses of the sold bitcoin-like coins? That's one of the issues you can have with selling them like that, the seller was actually pretty well trusted before this issue cropped up afaik.
There's no need really for a physical one, the most we'd get is something that uses qr codes or a concept of something similar with improved qol changes I guess.
There's no need really for a physical one, the most we'd get is something that uses qr codes or a concept of something similar with improved qol changes I guess.
yes it requires ensuring you got them from a trusted source and someone didnt just print a public facing label of a randomly funded address with no private key underneath.. and yes you got to ensure no one just printed hundreds of notes/labels that have the same keys..
This tells all the reasons why bitcoin just has to remain digital. Its always been digital either ways as, to gain full value of it, you still have to use it in transacting over the blockchain and get some confirmations on it, leaving no room for double spending or any form of counterfeiting which isn't possible in bitcoin.Bitcoin obviously has got its about over the Web with fiat to operate the realms of the physical and so, we might just have to leave it in its best fit, digital.
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but all in all it has been done and people have successfully traded in the physical world within a small group of trusted face to face exchanges
This spells how determined some bodies and users are determined yo attain certain fantasies. I don't think that bitcoin can have a physical format / version. Because somehow, when you would transfer some physical bitcoin to someone else, at the same time, that transfer of ownership would also have to happen online.
And also, digital money is exactly to try to end with physical money so I'm not sure it would make much sense to even think about a physical version.
Bitcoin don't need a physical form. It is different from fiat I don't know why OP wants a physical bitcoin while he can have fiat in his hand. And also, digital money is exactly to try to end with physical money so I'm not sure it would make much sense to even think about a physical version.
But if someone wants to have a physical form of bitcoin he or she can have a hardware wallet and called it bitcoin.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
I have no idea except the logo being printed loaded with BTC in it. I do not think we can represent Bitcoin in physical form. It is a virtual currency, anything physical is not Bitcoin but just some printout loaded with Bitcoin. If you create any physical coins and say it is Bitcoin is stupid thing IMO. And if they made Bitcoin to physical will defeat the purpose of why Bitcoin is created. You cannot instantly move physical object across the border, do you? So why bother creating physical Bitcoin when we already have fiat currency for it?
Using 3-D printers to manufacture physical Bitcoins with private keys that can be used to redeem their BTC online could be a reasonable solution. Given that many people like to see their assets in what we call cash, the desire for digital currencies to be produced like traditional fiats is growing.
It is proven a failed thing. The creator of the coin can scam people by retrieving the BTC on the coin after he sold it to the client. It was a hot topic recently so I do not think that the said process could be a reasonable solution.
Using 3-D printers to manufacture physical Bitcoins with private keys that can be used to redeem their BTC online could be a reasonable solution. Given that many people like to see their assets in what we call cash, the desire for digital currencies to be produced like traditional fiats is growing.
But, the BIG QUESTION is, if the digital currency is converted to a physical form and made available, won't it lose its digital properties?
This is why, in my opinion, we must continue to instill more trust in the use of digital currencies and cryptocurrencies, while simultaneously devising new ways to make the transaction process more seamless.
But, the BIG QUESTION is, if the digital currency is converted to a physical form and made available, won't it lose its digital properties?
This is why, in my opinion, we must continue to instill more trust in the use of digital currencies and cryptocurrencies, while simultaneously devising new ways to make the transaction process more seamless.
Thoughts on this. Now at this time. It would be almost impossible to make a physical Bitcoin. But with advances in technology it could be possible. Maybe if you have just whole numbers of Bitcoin, eg 1 Bitcoin.
i am thinking its possible into a almost like a paper note format, with bar codes etc on it. It would be centralized in physical form almost, but i think it could be possible to actually have a physical aspect that could be moved in the real world.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
i am thinking its possible into a almost like a paper note format, with bar codes etc on it. It would be centralized in physical form almost, but i think it could be possible to actually have a physical aspect that could be moved in the real world.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
I don't know what you are thinking though, Bitcoin is not design to be physical my any means.
But we have what we call, Physical Bitcoins by our very own, Mike Caldwell. So I guess you will get a idea if ever a physical format will be released to the public. However, I will understand that majority of us are not keen on this idea, to see Bitcoin being treated as like a paper or coin money.
if you are curious about what a physical Bitcoin would look like, just search "physical Bitcoin" on Google and you'll see a lot of images of different looking physical Bitcoins. these coins usually(a least as far as I know) have a wallet private key in them that contains a certain amount of Bitcoin. you can check the forum's sub-board called "collectables" you might see someone selling "physical bitcoin" there.
https://bitcointalksearch.org/topic/a-physical-bitcoin-2084
https://bitcointalksearch.org/topic/why-a-physical-bitcoin-41950
https://bitcointalksearch.org/topic/making-a-physical-bitcoin-currency-using-qr-codes-11292
https://bitcointalksearch.org/topic/physical-bitcoins-10209
Over the past year (2010-2011), there have been threads regarding the creation of physical Bitcoin, with each of the OPs having a different idea of how they will make it possible and authentic and how it will be valued and priced the same way as normal Bitcoin on the open market. I don't think any of those were ever achieved. I can also remember reading through a thread where the OP proposed a physical Bitcoin with a chip inside, and those chips would be used to check if there was still value in it or something of that nature.
To me, I don't think there is actually any need for us to have a physical Bitcoin or whatever; everything is just perfect the way it is. What's the need for the physical Bitcoin when we can do everything we need to do by transacting our Bitcoin just the way we are doing it now, which is less stressful, and not some form of physical stuff like fiat, where you will make some purchases and ask for change when you go to shop with a higher amount than what you purchased?
https://bitcointalksearch.org/topic/why-a-physical-bitcoin-41950
https://bitcointalksearch.org/topic/making-a-physical-bitcoin-currency-using-qr-codes-11292
https://bitcointalksearch.org/topic/physical-bitcoins-10209
Over the past year (2010-2011), there have been threads regarding the creation of physical Bitcoin, with each of the OPs having a different idea of how they will make it possible and authentic and how it will be valued and priced the same way as normal Bitcoin on the open market. I don't think any of those were ever achieved. I can also remember reading through a thread where the OP proposed a physical Bitcoin with a chip inside, and those chips would be used to check if there was still value in it or something of that nature.
To me, I don't think there is actually any need for us to have a physical Bitcoin or whatever; everything is just perfect the way it is. What's the need for the physical Bitcoin when we can do everything we need to do by transacting our Bitcoin just the way we are doing it now, which is less stressful, and not some form of physical stuff like fiat, where you will make some purchases and ask for change when you go to shop with a higher amount than what you purchased?
there have already been bitnotes and casascious coins
they work by having the private key hidden under a tamper proof seal that way you can see a public key to see the value is there but the seal hides the private key to not claim digitally unless seal is broken
yes it requires ensuring you got them from a trusted source and someone didnt just print a public facing label of a randomly funded address with no private key underneath.. and yes you got to ensure no one just printed hundreds of notes/labels that have the same keys..
but all in all it has been done and people have successfully traded in the physical world within a small group of trusted face to face exchanges
they work by having the private key hidden under a tamper proof seal that way you can see a public key to see the value is there but the seal hides the private key to not claim digitally unless seal is broken
yes it requires ensuring you got them from a trusted source and someone didnt just print a public facing label of a randomly funded address with no private key underneath.. and yes you got to ensure no one just printed hundreds of notes/labels that have the same keys..
but all in all it has been done and people have successfully traded in the physical world within a small group of trusted face to face exchanges
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What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
Bitcoin is a digital currency, it is not peg to any physical asset or money, the idea of Bitcoin was not to be even used in a physical way, just like the paper dollar, Euro, gold, and other physical assets. If Bitcoin has a physical existence, then there is nothing like decentralization for Bitcoin because the government will want to be in control like they have always wanted to be.
I don't think that bitcoin can have a physical format / version. Because somehow, when you would transfer some physical bitcoin to someone else, at the same time, that transfer of ownership would also have to happen online.
And also, digital money is exactly to try to end with physical money so I'm not sure it would make much sense to even think about a physical version.
And also, digital money is exactly to try to end with physical money so I'm not sure it would make much sense to even think about a physical version.
Making a physical bitcoin just like with fiat money that has designated value attached to each each is invariably making or turning bitcoin into a centralized asset which is against what it's known for. It's okay having bitcoin as a digital asset, wether it's possible or not making it a physical money it doesn't matter as I believe it's isn't part of the dreams of Satoshi to have bitcoin in physical form. So let the fiat money be there playing its own role.
Thoughts on this. Now at this time. It would be almost impossible to make a physical Bitcoin. But with advances in technology it could be possible. Maybe if you have just whole numbers of Bitcoin, eg 1 Bitcoin.
i am thinking its possible into a almost like a paper note format, with bar codes etc on it. It would be centralized in physical form almost, but i think it could be possible to actually have a physical aspect that could be moved in the real world.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
i am thinking its possible into a almost like a paper note format, with bar codes etc on it. It would be centralized in physical form almost, but i think it could be possible to actually have a physical aspect that could be moved in the real world.
What are your thoughts on what a physical Bitcoin could look like and an idea on how it would work?
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