Topic: What Bitcoin unit look like in real life (Read 388 times)

At least you have a set of codes as proof that it exists.  Though Bitcoin is virtual and not tangible, you can use your sense of sight to prove its existence.  You can check and verify the program used to run the system and use your logic whether it exists or not and not rely on someone on the internet to decide for you.  You can also use the marketplace of its existence and countries' reaction of it.  You cannot ban something or approve a regulation accepting it as a mode of payment if it does not exist.

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Bitcoin is a set of codes, a script that enables a borderless P2P electronic cash transfer that does not need any intermediary such as financial institutions.

You can simply use a decentralized/shared Public Record System (with inbuilt internal currency) that is in form of a numbered Book that started as Page One and continues to increase in number as more pages are added or stapled to it.
Once a transaction is made on a piece of paper by peers or two users, every participant checks to see that the users are actually sending values/currency that already exists in the book. If everything checks out, the participants photocopy the piece of paper and attach the original piece to the Public Book while having their own potocopies attached to their own copies of the public Book, using a stapler.

The shared Book or a Record System is a Blockchain which every participant has a copy of ...The pages are the blocks while The internal currency which is already predetermined and known by the public is the Bitcoin. You can use the smallest possible unit you want for the currency and maybe call it pitoshi instead of satoshi

You certainly don't see Bitcoin in real life. Bitcoin is a digital currency. And Bitcoin cannot be counterfeited.


"Bitcoin is a P2P payment method, and uses cryptography to ensure the security of all aspects of currency circulation. Cryptography-based design allows Bitcoin to be transferred or paid only by the real owner."

You're repeating the same irrelevant stuff and ignore the point. The point is that every idiot can create a system that will print numbers. That's why you have the inflation of crypto systems - systems that print numbers. This has absolutely nothing to do with the banking systems that prints debt units(fiat currency units), and secure them with collaterals. Debt units must be returned to the issuer by the debtors and that's why they are valuable. Just like people need food for nutrition or oil for energy they need debt units for loan repayments. On the other hand, whoever needs the numbers - for marking, counting or calculating, can create them in an instant with a keyboard or pencil. And you people are buying numbers or spending tons of energy to "protect" them. You pay  $17K for the number "1" or $170K for the number"10". It's a stupidity never seen before. No matter how much text you write you cannot change that stupidity.

Since people are unable to print dollar, they use computer and electricity to mine bitcoin and sell it in exchange of dollar or any other currency, that's called being smart.

try to search on google what is bitcoin? and the results will come out like this,
"Bitcoin is a decentralized digital currency that can be bought, sold and exchanged directly, without intermediaries such as banks."
then you pay attention to the word digital money, digital money means "all currency, money, or assets similar to money that are primarily managed, stored, or exchanged through digital computer systems, especially through the internet network."
and bitcoin is digital money, so that means it is virtual, and has no form.

What do you mean in real life? Don't you know that Bitcoin is a digital currency, an electronic cash system? There is no bill or coin version of Bitcoin. There is no hard Bitcoin. Even if there are bills and coins representing Bitcoin, they aren't the real Bitcoin. The real Bitcoin is stored in the blockchain. Your Bitcoin is kept in the blockchain. But you have a personal and unique address where Bitcoin could be sent to you and from where you could also send to another.

If you want a material that answers your question "What is Bitcoin?", read the whitepaper.

Hahaha, seems this guy is spreading FUD, even provided a youtube link that explains why Bitcoin is a joke.
Bitcoin is really not an illusion because first, a lot of people are participating to make Bitcoin work, computer power, which we called bitcoin mining, helps the Bitcoin network runs. Peer-to-peer.
Second, more than 10 years and Bitcoin is still here, created multiple all-time highs since it was created.

Gavin Andresen, former lead bitcoin developer (appointed by Satoshi) did come up with the idea of "physical bitcoins".  Essentially some posted a coin they had made which is thought to be the first ever produced and Gavin suggest they add and address to the coin by putting the private keys on the back of it, and cover it up.  ( see this and the historical timeline of physical bitcoins here- https://bitcointalksearch.org/topic/m.52116521 ). 

This sparked the first ever physical bitcoin/physical bitcoin wallet ever.  First BitBills were introduced, then shortly after Casascius.  Casascius made these coins as a way for people to better be able to grasp the concept of bitcoin.  He felt that if people had something in hand, it might help them to better understand the concept.  So this one thing you could try to use to help out.

you are not creating crypto currency on this forum

what you are not realising is money is created within its own monetary systems
bitcoin is created within the bitcoin network via the bitcoin rules and bitcoin never comes out of the network


EG the EU banks create EU bank notes in the EU system.

people do not just create bitcoin/crypto currency by just sending a tweet or message on a discussion forum
it involved code and rules to actually have policy of control and rules of transfer within a monetary system.

if you dont know how monetary systems work. dont waste months thinking you can create money randomly .. instead actually learn where and what the money systems are and the mechanisms involved to create money in those systems


fiat is not just dollar.. there are hundreds of fiats. multiple different "dollars"
canadian, australian, sinagore, liberia

but they have their own systems

each crypto currency has its own network and system and policies too.. you do not create a crypto currency by just describing it on a forum

different monetary systems have different communities with different reasons or needs to access those systems. they offer different features, different benefits. and different value creation mechanisms

bitcoin offers a deflationary system to hedge against all the fiat inflationary systems

bitcoin has features for international reach that are better and cheaper than fiat remittance abilities and costs and time

the cost of creating new coins within bitcoins system offers long term benefits for that involvement. and the costs then support the underlying value.

for instance PoS coins have a lower cost of creation. meaning when the market speculats to their ATH there is alot of no-value bubble price difference compared to its underlying value amount.
ethereum right now has about a max value line of $50(compared to its $900 value line as pow) so it went to a 1.6x market speculation to a 24x market speculation when it swapped to PoS

bitcoins value line is abut $15k and its market was at a 5x speculation hype bubble when the ATH temporary event last year occured. and is now back to real good value of 1.1x

there is alot you need to learn about monetary systems. their money creation policies. their value discovery and underlying value support amounts. and the speculative markets above value

I suggest you read it very carefully the Bitcoin Whitepaper.  Learn and understand every statement so that you'll figure out what Bitcoin looks like.

Based on the Whitepaper said, it's a digital currency form or it looks like numerous lines of codes as posted on the first page that is composed of 1 and 0, which seems like a line of 1s and 0s on a computer screen.  That's how coding works and you'll need to learn, if you know how to read codes, it's written in C++ and can be found on GitHub.

Try to figure out now and explore the beauty of this technology that Bitcoin has.

Exactly you are right with god does not have a physical form but it has a digital form which you can only see as I said before but cannot touch so what I understand in Bitcoin is is the digital currency that regulate or cycle it itself through digitally but you cannot feel it or see it except the value so if you had currency is something that you can see then have based on their country during the denomination of currency

That's precise and clear. Anyone can understand it in a very simple way. No one knows whether the specified amount is being transferred between the accounts, mere number reflection happens between the buyer and sender done by a third person. We believe in it, just because it have physical presence. With cryptocurrency same thing happens through a decentralised network were we can keep track of every activity associated with the numbers that are completely virtual without physical shape.

Bitcoin is a digital currency, so it does not have a physical form like a one-pound bill. Instead, it exists as a record on a digital ledger called the blockchain. When someone owns bitcoins, they have the ability to access and use them by possessing a digital key that allows them to access their bitcoin address on the blockchain. This key can be stored on a physical device, such as a USB drive, or it can be stored in a digital wallet app on a computer or mobile device. So you can show this, a nice hardware wallet with Bitcoins inside, if you understand the value of this technology then when you hold it in your hand you will be able to feel its full weight.

Man, if BTC is an illusion, it can't be tradable and it won't have value.  
It is the fact that BTC is a digital coin and it has value. If it is only an illusion, no one wants to use BTC as a digital asset or a digital currency.
Do you have BTC? Or do you ever sell and buy it on an exchange? People around the world trade BTC on CEX, DEX, or even P2P. It is enough as an indicator that BTC really exists.

The Bitcoin is not something that you can compare to a life because it is a digital currency so this currency is a currency that we all know how it's okay because anything digital has to do with digital and is not something that you will see physical so the difference between the star currency bitcoin has and Fiat currency is because that can be seen and can be touch why bitcoin cannot be touch but can be seen

An officially printed and difficult to duplicate piece of paper, with a public key and private key to electronically stored crypto funds.

With a seal that would be broken when the keys were read. Is what I've always thought physical crypto might resemble.

There are physical cryptocurrencies like kong cash which I seem to remember having a good format:

Bitcoin is a digital currency that has no physical form, but has value and is very valuable. Currently, a physical condition is not always needed, let's see if someone is presently using payment with a payment application without physical money.
When someone asks about bitcoin you only need to answer Bitcoin is a decentralized Digital Currency that has a fluctuating value and is very valuable.
and you can use the Bitcoin wallet application to show that you have a number of bitcoins that are very valuable and can be exchanged for Fiat money or to buy some things. Or if you want to have a physical form of bitcoin, many sell Physical Bitcoin Coins which are only used as accessories or souvenirs.

You have to keep your BTC safe at all times, nobody wants to lose their money, so the way to avoid losing your money is to keep it safe. BTC transactions is fast and easy all of the time and it doesn't get difficult no matter how many times you make a transaction, maybe you are mistaken it with mining difficulty which increases and decreases with time.
Do you mean small amounts of BTC for daily spending may be kept in a hot wallet, and more attention be given to larger sums of BTC as it should be stored in a hardware wallet, that is correct. Though you can freely use your BTC for any purpose, not only for trading or payment of bills.

what are you saying ?
Bitcoin transactions will never be difficult. Because direct p2p transactions can be done through Bitcoin. And here you can easily keep your information secret and transact. If no one but you knows the security of your bitcoin wallet, you will never have trouble with bitcoin transactions. And you will have no fear of losing the value of your bitcoins. Because it is impossible to get security of your wallet there.
So everyone always keep the security protection of your wallet.