Will Bitcoin ever exist in currency notes?

AjithBtc

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Quote from: Carollzinha on March 20, 2019, 07:30:24 PM

There are already a couple of ideias following this topic's subject.
I believe last year they a couple of them were already made but in a eletronic way where you would use them in some machine and use their linked addresses to receive and store funds.

I too came to know about it with the QR code being printed on the currency. I'm not sure about the same. I came across coins which carry our wallet address, this is provided through the goods and services section with universal shipping access. It resembles a coin with bitcoin symbol and wallet address molded to it. More users preferred it for gifting. There isn't any big usage same might be with currency as well.

Burogh

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Quote from: n0ne on February 25, 2019, 10:18:16 PM

Quote from: NavI_027 on February 09, 2019, 09:42:30 PM

Quote from: Burogh on February 09, 2019, 09:21:16 PM

Indeed, its hard to imagine if bitcoin printed in paper. Bitcoin is digital cryptocurrency and its created because hard to duplicate transaction. If bitcoin printed in paper money, there must be authorities to track the transaction and i think its almost impossible

For me it is possible (it was too easy to create some unique paper and put the logo of btc in it) but the question is will they do it? Let me answer it also Grin

, of course not! Where is the essence of being a digital currency if it has a physical note? If it happens then it will be the same with USD, GBP and other currencies present, it is no longer different from the others. The bottomline is much better if we let btc remain on its form.

I'm not sure about it, it is possible but there needs to be a central system who issue the same. And any country won't easily allow it get circulated all around. At present there were gifts which has got the bitcoin wallets bar codes printed on the metals. These resembles same as a coin. Even now it isn't no longer different from the USD and GBP. Only the physical presence is not available.

I doubt if bitcoin exist in currency note. Its more easy for scammer to duplicate bitcoin in note but not in blockchain. GBP or USD note always printed with reason QE. I am believe bitcoin created by satoshi to avoid from corrupt system on our banking system

Carollzinha

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There are already a couple of ideias following this topic's subject.
I believe last year they a couple of them were already made but in a eletronic way where you would use them in some machine and use their linked addresses to receive and store funds.

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Quote from: 1BTC EQUALS 1CAR on March 08, 2019, 08:53:40 AM

That is just like going back to where we at before. I think there will be physical bitcoins but serve as a commemorative coin but it is very impossible to have or make a bitcoin that exist in currency notes. It will just create much more confusion when most people know that btc is for digital transaction only.

Currency notes remind me paper wallets for bitcoin with a QR-code placed on it. If one can code a private key from a cryptocurrency wallet in the form of QR, then you'll be able to pay everywhere crypto is accepted.

1BTC EQUALS 1CAR

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That is just like going back to where we at before. I think there will be physical bitcoins but serve as a commemorative coin but it is very impossible to have or make a bitcoin that exist in currency notes. It will just create much more confusion when most people know that btc is for digital transaction only.

sijonru

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Quote from: Aponkye1 on March 07, 2019, 12:26:21 PM

Bitcoin was introduced to solve all the issues that we have with physical fiat currencies and now you are speculating whether we are going to have a paper form of Bitcoin. Anyway i don't think this is a good idea and i know most folks in here would agree with me. Transaction in digital currencies is very safe and fast so there is no need to create physical forms of cryptocurrencies

Bitcoin is in the crypto money market, not in the fiat money market. This is what distinguishes bitcoin in trading because it is converted in USD, so the value of bitcoin with USD will always be related.
In relations between countries, bitcoin is not included in the currency that can be used because there are still many debates about bitcoin, where fundamentally, bitcoin is considered not feasible as a currency. Of course the opinions of one country are different from other countries.

teejayrichard2

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The initial idea of bitcoin is having an online money which people can use to make all kinds of payment and transactions across the globe with speed and ease. Having bitcoin in currency notes will contradict the initial plan in which bitcoin was created in the first place. I don't think bitcoin will ever exist in currency notes. It will remain an online currency.

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Quote from: mich on March 07, 2019, 02:01:15 PM

Quote from: Aponkye1 on March 07, 2019, 12:26:21 PM

Bitcoin was introduced to solve all the issues that we have with physical fiat currencies and now you are speculating whether we are going to have a paper form of Bitcoin. Anyway i don't think this is a good idea and i know most folks in here would agree with me. Transaction in digital currencies is very safe and fast so there is no need to create physical forms of cryptocurrencies

Agree with this statement 100%. One of the main points for BTC was to eliminate any physical handling of monies so I see no purpose in going against that thought process.
I think it would defeat the purpose of the concept and technology of BTC if they started printing it.
Sure its ok to have crypto collectibles but dont think they will ever be accepted as legal tender as a cash transaction.

Even if that exists it won't get accounted as a legal tender of cash, but it'll get its physical appearance. Even now in its digital availability it is being used and accepted by the limited user community. The same could happen when it gets the physical state, and some people who find it difficult to use bitcoin digitally might also get into the use of bitcoin with its physical currency.

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Quote from: Aponkye1 on March 07, 2019, 12:26:21 PM

Bitcoin was introduced to solve all the issues that we have with physical fiat currencies and now you are speculating whether we are going to have a paper form of Bitcoin. Anyway i don't think this is a good idea and i know most folks in here would agree with me. Transaction in digital currencies is very safe and fast so there is no need to create physical forms of cryptocurrencies

Agree with this statement 100%. One of the main points for BTC was to eliminate any physical handling of monies so I see no purpose in going against that thought process.
I think it would defeat the purpose of the concept and technology of BTC if they started printing it.
Sure its ok to have crypto collectibles but dont think they will ever be accepted as legal tender as a cash transaction.

ameliana

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The very idea of bitcoin rejects this possibility. It has always been only in electronic form, and in ATMs you can just buy or sell for cash.

but if the era progresses, electronic money can become a legitimate currency and can be used by all countries.
We all know that this world is growing rapidly and technology is progressing so that people will prefer something more practical, for example Bitcoin.

Aponkye1

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Bitcoin was introduced to solve all the issues that we have with physical fiat currencies and now you are speculating whether we are going to have a paper form of Bitcoin. Anyway i don't think this is a good idea and i know most folks in here would agree with me. Transaction in digital currencies is very safe and fast so there is no need to create physical forms of cryptocurrencies

Stac

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It is a good question that Bitcoin ever exist in currency .Even though Bitcoin is not a physical currency that can be carried in as fiat currency . .Bitcoin is an online currency that is a computerized program and it updates public record of every single Bitcoin transactions.Bitcoin is transferred through online without having to pay for a trusted third party like the banks .Bitcoin is volatile and bitcoin has to be a stable store of value that people use to buy things with Bitcoin .Bitcoin is at the moment more of an asset than a currency .Bitcoin could replace fiat currency .and cannot be manipulated .

Crypto24hrs

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While It is very sacrosanct that you should form a longing for reading, Bitcoin ATM is just an avenue or a means by which our Bitcoin is been exchanged to fiat currency and from fiat to Bitcoin as the case may be and it has nothing to do with banks.For bitcoin to exist in currency note will mean that decentralization will be compromised.

Johnzky

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Quote from: Myown55 on November 11, 2018, 08:51:20 PM

It might interest you to note that the bitcoin policy has been accepted and implemented by some banks. Not long ago, I read a post on this platform which stressed on the facts that there are bitcoin ATMs in some parts of the Europe and United States.

The question is " how will these ATMs operate?" Will customers withdraw money in the form of Bitcoin notes or fiat??? Please share your views on this topic. I need clarifications.

Not only in Europe and United States actually all over the world there are Bitcoin ATM

And these days Banks are offering and soon to Open a Cryptocurrency Machine in which purchasing bitcoin and also legit altcoins are available

Its not in form of fiat instead cryptocurrency is what they offer

mornabo

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Quote from: bitbunnny on February 09, 2019, 10:56:51 AM

Quote from: hakertajniak on February 09, 2019, 10:51:37 AM

If bitcoin exist in currency notes, then it will be no different from fiat money.
I guess bitcoin better stay in digital form than in currency notes because bitcoin is a digital currency.
You will have a higher chance to lose your bitcoin if it is not on the digital form.

It's not only the paper forn that differs Bitcoin from fiat money so with having Bitcoin notes they will not become equal. But no matter to that I really don't think there is any need for Bitcoin to get currency notes. Bitcoin is cryptocurrency, digital money and we are having towards digital world and era so the smaller amount of paper forms we use, the better. To my opinion Bitcoin should stay fully digital.

Who is the bitcoin target if bitcoin becomes paper? Common people? I think they are comfortable using fiat already. Of course we don't need changes or additions to that version. I have been very proud to use the currency part of future technology (digital currency) and do not make us disappointed by making bitcoin like paper

EriksonPartners

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I don't think that would ever happen, since that would just defeat the whole purpose of a decentralised cryptocurrency as it would have to be controlled by the government.

denzkilim

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Quote from: Mometaskers on March 02, 2019, 02:40:43 PM

Quote from: Myown55 on November 11, 2018, 08:51:20 PM

It might interest you to note that the bitcoin policy has been accepted and implemented by some banks. Not long ago, I read a post on this platform which stressed on the facts that there are bitcoin ATMs in some parts of the Europe and United States.

The question is " how will these ATMs operate?" Will customers withdraw money in the form of Bitcoin notes or fiat??? Please share your views on this topic. I need clarifications.

No. There are no bitcoin notes, though there have been coins minted in the past as collector's item. You don't withdraw bitcoins from these ATMs, you basically exchange your fiat through them. Bitcoin ATMs are usually cash-in only but I read there are two-way ATMs out there.

One of the largest banks in our country is a supporter of Crypto Currency/Blockchain technology and they have already launched the first Bitcoin ATM machine in the country but only in some locations and not all their branches have that ATM machine, I also wonder if a person can actually withdraw cash from it or it is only a one way machine just like what you have said. I'll go research later about the Bitcoin ATM in my country if it's a one-way type or a two-way type. Cool

shesheboy

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Quote from: coin-investor on March 02, 2019, 08:28:02 PM

Quote from: Myown55 on November 11, 2018, 08:51:20 PM

It might interest you to note that the bitcoin policy has been accepted and implemented by some banks. Not long ago, I read a post on this platform which stressed on the facts that there are bitcoin ATMs in some parts of the Europe and United States.

The question is " how will these ATMs operate?" Will customers withdraw money in the form of Bitcoin notes or fiat??? Please share your views on this topic. I need clarifications.

I don't want this to happen if this happens then we will lose our decentralization feature, only government or a company can issue a note and it is bound by laws and terms let's keep the same way you have Bitcoin and you can trade it to fiat money but never create a Bitcoin note, it's a disaster if it happens.

its not a disaster but its a good idea imo . we know that cryptos/bitcoin wont work offline but if crypto will have a version of currency notes . we can now use them in double purpose and there is no need for us to exchange our cryptos to fiats . that also means that we can save alot of fees for trading however if the notes are issued by a government or a bank , they still have the ability to taxed us . idk if tax is cost more than the transaction fee 's .

coin-investor

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Quote from: Myown55 on November 11, 2018, 08:51:20 PM

It might interest you to note that the bitcoin policy has been accepted and implemented by some banks. Not long ago, I read a post on this platform which stressed on the facts that there are bitcoin ATMs in some parts of the Europe and United States.

The question is " how will these ATMs operate?" Will customers withdraw money in the form of Bitcoin notes or fiat??? Please share your views on this topic. I need clarifications.

I don't want this to happen if this happens then we will lose our decentralization feature, only government or a company can issue a note and it is bound by laws and terms let's keep the same way you have Bitcoin and you can trade it to fiat money but never create a Bitcoin note, it's a disaster if it happens.

BennyK

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Bitcoin was developed as a digital currency and it will remain as such. One of the major factors which makes Bitcoin better than the paper money is that Bitcoin is less cumbersome to carry - the paper money requires huge wallet or a bag in other to move a huge sums of money but with Bitcoin, handling is much easier and convenient.

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