Topic: What Bitcoin unit look like in real life (Read 376 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.

You're correct because dollar is a debt unit - an instrument of debtors liability created at a bank via loan contract. That's why you cannot create dollars here on the forum. However, bitcoin is just a dozen of binary digits. And those can be created everywhere by anyone. I did it here. You did it here. Nakamoto system does it. Thousands of crypto system as well. It's just that people give different names to those digits. Simply, whoever needs them digits can create them at an instant. So, why are you people spending tons of energy or money to get them?

if i'm not mistaken, the best way to use the bitcoins is to keep them safe. Because the more you transact your bitcoin, the difficulty nature of bitcoin transaction increases and it will be easy to loose your bitcoin value. So as you get more number of bitcoins then keep it as safe as possible. And try your best to use them only for trading or paying bills.

This is the peculiarity of bitcoin, that physically it doesn't exist and can't exist, which means that it can't be seen, touched like a coin or banknote. Actually, this is not the most surprising thing about btc. Virtual money has existed before and is very diverse. In fact, when sending bitcoin to someone, either btc is not sent anywhere, but only information about this is transmitted to the blockchain. You can't own a btc, but you can get ownership.

showing
101111101011110000100000000

or showing


on a forum. is not how value is made

because in both cases they are just displays and explanations of discussion.. not actually part of the value system

if i showed you a picture of a banana on this forum. does not mean you can eat it from the forum
..
if you cannot tell the difference of a discussion forum vs a payment system, then you need to take some time to do some research

learn the rules and functions of the payment system and work within those rules of that payment system to then create new value.

EG
going to a loan shark and asking for a loan. is not creating new money. its borrowing someone elses already created money.
if you want to create new money you have to go to a bank that has the facility to do so.

learn the difference. not all loans create new money

talking about dollars in any discussion platform does not create new dollars.

Yes I did. You said that 1 btc is this: "101111101011110000100000000".

I created exactly that.

Saying that "101111101011110000100000000" is on the bitcoin network is denial of reality given I just produced it here on the forum. Without someone's rules. Without mining. Without POW. Without confirmation. I created ""101111101011110000100000000". In an instant.

So, why are you people buying or mining something that everyone can create in an instant?

It's interesting how you ignored my challenge on dollar. Try to create 1 dollar, i.e. 1 instrument of debtors liability in an instant. You can't. That's the point. Everyone can create digits. But not dollars. That's why Bitcoin is a joke. Joke taken seriously.

It seems to me that the theory about the alt account could be correct, and the reason is very simple - either you don't know how to use a search engine, or you can't understand what you're reading. And in addition to that, we also have a Beginners&Help board where beginners like you usually ask questions like this.


I can only advise you to read the Bitcoin White Paper, which has been translated into many languages, hardly anyone can explain what Bitcoin is better than the person who invented it.

no you did not

firstly someone just saying the word or writing the word "bitcoin" "btc" or quoting the binary in a forum, did not create new bitcoin

bitcoin is on the bitcoin network. its secured that way it never leaves the network. and  its fundamental rules restrict how its created.

to create new coin within the many rules also involves mining which has a real world cost. meaning acquiring new coin comes at a real world cost of electric and hardware.. yep its called proof of work

if its not confirmed on the bitcoin blockchain.. its not bitcoin

if you want to cry about a low low value coin that is made too cheap but sold for too much.. look at the PoS coins, forks. side chains and subnetworks of things pretending to be bitcoin.. and aim your "valueless" arguments at those.. or coins where the inventor just creates a trillion coins in 10 seconds at no computational, electric significant cost (ICO-premine)


dollar or bitcoin is not created by saying words on a forum. as explained

if i want to create $1000 new dollars. i would go to a bank and ask for $1000 loan
. that is how i would create $1000 new dollar. by my agreement with a bank to create $1000 for me. and in exchange i will slowly pay them back $1000+interest

its easier to create $1000 than it is to create new bitcoin. and at the end cost of creation of bitcoin vs dollar.
bitcoin has a good functional deflation system that makes the recipient better off over time for receiving bitcoin, where as in dollar they are worse off from receiving dollar


with fiat. its paper not silver..  that paper USED TO represent backing to physical asset. such as a £5 (5 pound) bank note WAS centuries ago representative as a coupon that allowed the bearer(holder) to swap that coupon(promissory note) for five metric pounds(lb) of sterling silver

however the banks broke their own rules and changed the rules.
now bank notes are representative of other rules, where value is measured at things like minimum wage, tax rules wher someone has to pass around these fiat amounts to pay X min wage or y% tax which keeps them in circulations and valued to certain known amounts of other things.

similarly in the cryptocurrency industry. there are sidechains. where they too 'print' coins at no value. which are not real bitcoin. but representational 'promises' of pegging to a bitcoin. but note they are not bitcoin. nor is a bank note silver.

..
bank notes are not property of people. bank notes are patented products of banks and owned by banks and simply licenced/permitted to be held(bearer)(possessed) by people but not owned. this means the bank can take bank notes out of circulation or seize bank notes off people

bitcoin has no central owner. no one owns the bitcoin system, the public-private key mechanism proves ownership of who has control and custody of the coin allotted to an address.

there are other networks which have bad mechanisms that can remove coins from someones custody

I'm not snowshow or whatever his name is. I'm simply a rookie trying to understand more about blockchain technology and the concept that led to the creation of bitcoin.
Please feel free to respond if you have enough knowledge to do so. No knowledge is wasted because we are constantly learning new things.

Bitcoin is only for digital use and not for physical use. And the unit of bitcoin can be measured as binary unit. Bitcoin can not be printed and if bitcoin is printed then bitcoin will lost it's value and it will become centralized system. So there best way to use and keep bitcoin is for digitalization.
BTC is counted from 101010101 or 010101010 and that is how the unit is measured.

Bravo. .... Now watch this: "101111101011110000100000000". I just created 1 BTC. For free. And you people are paying $17K for that? Hilarious.

Now you. Try to create 1 dollar. Dollar is an instrument of debtors liability that they need to for their loan repayments. Because dollars are issued as loans and withdrawn as loan repayments. Try to create just 1 such instrument by writing digits.

P.S. Yeah, everyone who asks critical question about btc is me. Hahaha.

Let me try to tell you what Bitcoin looks like in the real world. 

Imagine that it is now the year 2100.  Happy tanned man relaxing on his own tropical island.  Next to him is a happy tanned (very beautiful) girl.  They are absolutely alone on the island, so they are completely naked and dressed only in tan.  The man is not only not wearing clothes, he also does not have a wallet with banknotes, plastic cards and a smartphone. 

More precisely, he has a smartphone, but most of the time he lies in a drawer in a beautiful castle built in the center of the island. 

Despite the fact that the man does not have a wallet or devices, he constantly carries all his money with him.  These are the 12 English words he learned by heart that serve as the seed for the bitcoin wallet. 

In the year 2100, the US dollar and other fiat currencies are no more, and bitcoin has become a universally accepted means of payment...

This is what bitcoin looks like in the real world!

It exists in the cloud though. But this cloud is not run by a company in an specific country, but by everybody who runs a node and the miners. In the end its independent and can't be changed on a whim by a small group, State or private group of entities. Which is why people are learning of its true value by word of mouth alone, not by institutional claims who just want you to use their services.

You don't need exchanges for Bitcoin, get paid and pay with bitcoin, close the circle and achieve true freedom. It will look like numbers in a screen, but those numbers are unique, thanks to math.

Can I ask you a question to answer your question?

How will you show your friends what their money looks like in their Bank account or their Credit card? .... I will show them the digital representation of my Bank balance on my Banking App.... or I will draw a Bank statement from my Bank. 

Now the difference with Bitcoin is this.... there is no centralized Bank..... but rather a decentralized "database" if I can call it that... with the transaction history of all bitcoin transfers that were ever made. Your bitcoins and your transaction history can be drawn from this Blockchain database, with Blockchain explorers. (it consists of a combination of letters and numbers.. like your Bank statement)

This explanation is over simplified to explain it to newbies. 

All people above already telling you and that is the fact, but if you still curious there is dozen of the fake form on internet

here we go you can buy it on ebay   ( but this only for merchandise)


also can be the form of paper like this , but this one can the real one that contain bitcoin in it (but you still need internet to do the transaction unless you pay same amount as what the seller ask for)

1btc is not stored in a tx, block or blockchain data as '1btc' at raw data format
a bitcoin (1btc) is an allotment of 100,000,000 units of sats
(gold is a bunch of atoms too)

inside a transaction at raw data level converted to human readable numbers
everything in bitcoin network and transactions is measured in sat numbers then divided to its btc representations

so then looking at a tx of 1btc. in binary.. which is the true real world state it sits physically on a hard drive in:

101111101011110000100000000

so 1btc physically looks like  101111101011110000100000000

or if you were to use a microscope looking at a hard drive platter , at an angle of its horizon

 _   _ _ _ _ _    _   _ _ _ _            _                    
| |_|            |_| |_|         |_ _ _ _| |_ _ _ _ _ _ _ _

as for referencing it on the bitcoin blockchain. in human readable form

you can reference your txid you received 1btc from where its output to your address shows the 100,000,000 at raw tx data level

or even more human translated form on any blockchain explorer/wallet showing you your transaction receipt in btc allotment amount
..

by the way.
gold is just a bunch of atoms too
..

i suspect the topic creator is actually snowshow using yet another alt account. trying to play dumb to introduce himself as an idiot yet again to then try pushing his "bitcoin does not exist " troll game.

The use of search engines like Google will only feed you with a lot of possible junk articles which are full of false information. This forum alone is enough for you to learn and understand what BTC is truly is.

Bitcoin is an innovative digital currency created to introduce the world to a new level of financial and investment possibilities while giving them the needed liberation.

You're truly indeed a newbie and have no idea about what bitcoin is, but it's also a pity for you to have toil the whole internet yet have nothing tangible to hold on to about having an understanding of what bitcoin is, let me provide you with an answer abit here, bitcoin is the first and only decentralized digital currency invented by Satoshi Nakamoto to help us have lesser cross boarder transactions fee, security, privacy trust and freedom in handling our finance, all that is needed is for you to either buy it, exchange it, mine it or be gifted and you choose a desirable wallet to use in having your bitcoin onbthe blockchain, now since it's an acceptable digital currency you don't need na physical representation to convince people about it, it works by p2p network and that's the trust we had in it.

As others have said, it is a virtual currency so you cannot expect it to be able to touch it like the British pound. But is that important? I think the important thing we need to care about is value. You should be more concerned with the real value it can bring you than the tangible form. Although it is a virtual property, it cannot be touched, but the value it brings to you, no other property can get you.
If 13 years ago you owned 1 bitcoin for $1, now with 1 bitcoin, you would have $17,000, but if 13 years ago you held 1 pound, it would still be worth 1 pound.

It looks like ghost, obviously you're know the appearance of ghost isn't? yes, none.

Bitcoin is none if we look in the real life because it's intangible asset, there's no way to look the appearance. You could think Bitcoin is fake and the number is just generate randomly which mean there's no security at all. This is why you need to learn about the technical thing to know this, especially if you've learn about cryptography and interested with computer technology.

Bitcoin is an illusion created via numbers and word(BTC). It doesn't really exist. Here you have all explained: https://youtu.be/4rWmOq0o1hM

BTC is a virtual currency, it is not physical and it has no look in real life. BTC is a virtual currency that can be sent and received online through computers or mobile devices. BTC is a decentralized currency created by Satoshi to be a second option to fiat currency, though it works differently from fiat as it can't be printed, but 'mined', mining doesn't mean miners excavate physical BTC, miners validate BTC transactions and put them in new blocks, this process is called mining because in that process the successful miner is rewarded with new BTC's, that is how new coins are made.
One point of using BTC is for privacy and pseudonymity, it does not make any sense to use it while looking for a way to expose your BTC balance and history to the public, or to connect it to your real life person. The links below are great to get you started:

https://learnmeabitcoin.com/
https://bitcoin.org/en/how-it-works
https://www.lopp.net/bitcoin-information/getting-started.html
https://en.bitcoin.it/wiki/Main_Page

I guess that you've managed to miss the part telling that Bitcoin is a virtual currency. It has no tangible form.

It's somehow similar to your money as long as you use it only in bank transfers and credit card, no ATM, not paper bills.
Or it's somehow similar with a thought or idea. Or, somehow similar to the music at the radio.

You can use software to find out how much you own, but it has no physical shape.

Since I'm new to this development, I'd seen information about the new digital currency (Bitcoin) online as I tried to learn more about it. There are countless articles on blockchain technology and the idea of mining on Google. Google searches return a ton of articles discussing the blockchain system and the idea of mining. However, I've discovered that none truly respond to the query "What is Bitcoin?"
I can produce a one-pound bill for a friend to grasp and inspect if they were to ask me, "What is a pound?" When he inquires about what a bitcoin is, what can I provide for them to review? Is there a list of figures I can print out and use as my reference? Alternatively, should I point to an entry on a public ledger and say, "There! That shows my bitcoin history!"

Basically, I'm curious to know what a bitcoin or any cryptocurrency unit looks like in real life.