We're getting into semantics here.. Maybe the payer doesn't have a mobile device or does not want to bring it with him, and prepared a paper wallet knowing it will be swept during the trade or transaction.
So he prepares the payment and puts it in a paper wallet, hands it over to me, to which I tell him to stick around until I've scanned the paper wallet and swept the funds. Around 10 seconds later, if nothing else funny has happened (maybe he has someone else watching from afar then try to double spend it or something) it should be good to go.
Of course, if during the whole deal thing I get a confirmation or a block, then that's pretty much good.
Sweeping a paper wallet is pretty much a function in both android mobile wallets I use: Electrum and Bitcoin Wallet for Android.
Topic: Will Bitcoin ever Become Physical coin ? (Read 755 times)
I'd accept payment with a paper wallet, as soon as I have swept the coins in it. That's easy to do with some mobile apps, such as Electrum for Android.
then you are not accepting a paper wallet, you are just doing what the payer had to do (creating the transaction and broadcasting it). accepting a paper wallet means you take it and store that instead without spending it. which is obviously not a good idea since you can never trust the other person to not still store a copy of it.
I'd accept payment with a paper wallet, as soon as I have swept the coins in it. That's easy to do with some mobile apps, such as Electrum for Android.
Of course, I'd rather that the other party just broadcast a normal regular bitcoin transaction that I can confirm is in the mempool of my own wallet at least (or can be seen by most block explorers.)
Of course, I'd rather that the other party just broadcast a normal regular bitcoin transaction that I can confirm is in the mempool of my own wallet at least (or can be seen by most block explorers.)
If it become physical currency then how we will record its movement on blockchain? There are 10 million satoshi in every bitcoin how can we break down on paper?
Bitcoin came up as digital currency and will remain like that. Though some members have shown the physical coins but I don't think they are practical on large scale.
Bitcoin came up as digital currency and will remain like that. Though some members have shown the physical coins but I don't think they are practical on large scale.
That is very unsafe and makes little sense. You cannot use physical bitcoins since you can't break it up and even if you pay an entire bitcoin the person you pay must trust you do not have the private key which you probably do without even knowing so. The private key could have been made with haste and not backed up so lose the coin and lose the bitcoin. It is a bad idea. The only reason to keep a really nice made coin with a privatekey on it is if it is yours and it is a novelty and a way to backup and always keep entire bitcoin. So if you have extra bitcoin it is a very good idea to make one to keep as an investment.
Paper wallets might work for trading physical goods in a face-to-face or in-person scenario, but then the other party might prefer to sweep the funds in front of you to at least confirm they get their coins.
It's really the only way to use paper wallet as physical coin, since it's essentially just sharing private key with an untrusted third party. This can be done if the user doesn't have a mobile device to conduct payment but can somehow print or write down a private key/seed on paper - something that could happen in a poor third world country.
Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
No because if someone send bitcoins from wallet that is on the Physical coin, then that wallet is empty and that bitcoin is not linked to Physical coin anymore. If we make undependable wallet linked to Physical coin, then is sort of useless, since no one can spend it.
Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
I don't think there is a possibility about that happening. Bitcoin is meant to be convenient and decentralized. It is under the blockchain technology so it is better to stay as digital currency rather than become a physical one. Bitcoin indeed is the king of crypto and it can dominate even more as it stay as a digital currency. In future, we would see it more as a coin that will give great convenience to many and will contribute a lot in different countries economy. We just need to believe and stay faithful on it.
Aside from OpenDime, which are little devices people can verify (and might be good for trading off-chain transactions), the next best thing are paper wallets.
Physical coins that are collectibles are paper wallets with tamper resistant features / stickers / seals, but they are the same thing.
Paper wallets might work for trading physical goods in a face-to-face or in-person scenario, but then the other party might prefer to sweep the funds in front of you to at least confirm they get their coins.
Physical coins that are collectibles are paper wallets with tamper resistant features / stickers / seals, but they are the same thing.
Paper wallets might work for trading physical goods in a face-to-face or in-person scenario, but then the other party might prefer to sweep the funds in front of you to at least confirm they get their coins.
Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
I think it's not the phylosophy of the concept of bitcoin =)
I think you are missing the whole point entirely, why should it be called a "digital currency" when it was meant to be physically printed? Moreover there are just 21 million BTC and all of them has not been mined yet and there are billions of people in the world and this means that very few people has ever owned 1 BTC to begin with, the currency would be useless without it's denominations (satoshi) and I just don't see how that would work out because if you have a coin worth $10,000 and you want to purchase $100 worth of goods in a store, how do you colllect your change when you pay with the bitcoin physical coin? You get your change in dollars? It just wouldn't work, it's meant to be digital and would always remain digital.
Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
Nope
That is called cash 
Actually I found some coin maker that printing the private key on coins he make. But for me I think it's too much work to do.
The problem here is not that it's too much work, it's that that centralized entity that prints the private keys is a point of attack. Think about it, they print the private keys on the coins, which means that they have access to the private keys in the first place. How sure are we that they won't do some shady stuff like recover the funds from the wallets' private keys that they print on the physical coins?
Of course it can be used on physical and virtual way of payment. Just imprint the private key on any physical items like coins. Actually I found some coin maker that printing the private key on coins he make. But for me I think it's too much work to do. For me just scan and send is enough and of course they should use Lightning Network to receive it faster than traditional tx.
Bitcoin is never meant to be on physical state, it's a virtual currency. Basically Bitcoin was created to be operated and transacted on an online basis not physically. For instance, you can have Bitcoin represented by a normal gold coin but there is no value attached to it. It just for decoration and or as fashion accessories.
Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
For me, not a chance bitcoin without anonymity, decentralization and its blockchain itself is nothing. It is like some cold cash or gold that can be controlled by government its not bitcoin anymore if you make physical version of it. Yes, it exist some fans created a physical bitcoin just for souvenirs only. 
I don't think bitcoin will ever be a physical coin because it's not a storage asset.
Its strange how a bunch of newbies like this person and some more in this are not reading the replies and posting to get their post counts done. Bitcoin physical coins are very popular among this forum collectors of the same and they are traded regularly in raffles in a specific section for that.Sadly these new users are clueless about what they are talking about and are very quick to jump into conclusions before actually taking time to read and know about what older members have to say.
At this time I can’t imagine bitcoin to become physical coin in the future. There are many collectible coins but in bitcoin it’s purpose is digital money where we can easily use and access freely. Why do you think bitcoin to be a physical coin? In fact, many users who believed in bitcoin are enjoying its features already.
Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
I don't think so. Bitcoin is meant to be transacted peer to peer according to Satoshi and it will not be effective if it's going to be in physical form, it will be more useful if it is going to stay as a digital coin. The safety and security also is ensure in bitcoin unlike in fiat that can be stolen easily by anyone if you're not really careful. We should just hope that bitcoin and fiat would work in harmony instead of hoping that it would appear in physical coin cause it just wouldn't work well that way. Cryptocurrency Become Really Big, Bitcoin is king of crypto world. in Future any chance physical coin manufactured ?
Something like a fiat? I don't think so, all transactions are recorded in the blockchain, you cannot use it manually to buy something in a store it will have to be recorded, I don't think if in the future an innovative mind will try to solve this issue, but you always need a private key to manage a transactions, where to send and manage the fees, well who knows maybe something like this could happen. Jump to: