Will Bitcoin ever exist in currency notes? - page 2.

susila_bai

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Bitcoin is a digital currency and for me, its importance ceases as soon as it becomes just like fiat. The btc atm you read about operates differently and does not mean there will be btc "note"

Ya it is really true that when bitcoin is used like fiat currency then automatically it will lose its valuation as it is a digital currency which is operating online. BTC ATM are working like online transaction which it will convert it to your fiat currency and then it will output the fiat currency from the ATM. If i am not wrong

Bitcoin-Turkiye

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something that has already happened for a long time, is calculated from the instant bitcoin exchange rate, or the money can be deposited and bitcoin can be taken. I had a bitcoin atm, 5 years ago at my airport in my country but they removed it 2 years ago.

Mometaskers

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Quote from: Myown55 on November 11, 2018, 09:51:20 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.

TheCoinGrabber

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Quote from: Myown55 on November 11, 2018, 09:51:20 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.

As many here has pointed out, bitcoin atms don't work that way. You put fiat in them and you get bitcoin sent to your wallet. Granted I've not seen one in my country but I believe you can't cash out with them. And that's not needed, certain banks allows you to cashout your BTC as fiat.

Now regarding bitcoin "notes", that kinda defeats the purpose.

smyslov

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Quote from: Myown55 on November 11, 2018, 09:51:20 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 think it's going to happen Bitcoin notes or fiat they have a huge difference, if this happens then there will be no decentralization because all form of fiat are decentralized and only a government can issue them, and people will counterfeit it, so who will run those counterfeiter

aioc

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Quote from: Myown55 on November 11, 2018, 09:51:20 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.

There's no such thing as Bitcoin notes today, whenever you withdraw your money from an online exchanger or an Atm your option is a paper money of your choice depending on your location, I can't imagine what it would look if we had a bitcoin note.

slackcryptoz

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I'm not sure about it, I remember in an article described about a firm creating cryptocurrency in the paper form. It isn't same as the way of common currency. Possibly this initiation will help common people who highly use currency as using cryptocurrencies need some basic computing knowledge.

Godday

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information about the BTC Atm in my opinion not so many know. the problem is that in every country there is no btc Atm. so sometimes friends who are here confused to say how to use it, the problem is that only some people have used it.

Xalata

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Why on earth do you wish to see bitcoin in currency notes. The main reason behind the creation of bitcoin and other cryptocurrencies is to get rid of using fiat currencies to make transactions so why on earth would we want to go back with physical cash. Then it would be better to have stayed using current fiat currencies.

LUCKMCFLY

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Quote from: bitbunnny on February 09, 2019, 11:56:51 AM

Quote from: hakertajniak on February 09, 2019, 11:51:37 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.

I totally agree, I think that bitcoin must always be digital in nature, it is what comes out of what is really known, we can not take it to a less advanced level, that is why I see it as a cutting-edge technology on any emerging economy. So much so that economists who have done their studies in universities, are not able to model a behavior, because it simply comes out of all logic.

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i dont think bitcoin will ever exist in currency notes. the idea of bitcoin is to create an online money which can be moved at a very fast rate without boundaries. Having bitcoin in currency notes will only contradict the initial idea why cryptocurrency including bitcoin was created in the first place.

beatzcoin123

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that's not what we all want, i mean that's not the objective behind the introduction of digital currency, so denominating bitcoin into currency notes will mean a deviation from the primary objective behind the creation of bitcoin as a digital currency. So when bitcoin is initiated into paper money, then decentralization is taken out of the picture.

Daboy_Lyle

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Quote from: BuyBuyBitcoin on November 11, 2018, 10:45:08 PM

The information about bitcoin is available if you just read it OP.

There are no plans for bank notes, that would be regressive.

Yes there's no history on banks or notes but the history with us will flow continuously to the next generations. It will exist in the currency notes because Crypto become popular and some countries allows it to legally used as a payment as well as a normal currency. In social media advertisements is obviously known when it comes to cryptocurrency.

GreatOrchid

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Quote from: Myown55 on November 11, 2018, 09:51:20 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.

Find the answer to your question here: https://en.m.wikipedia.org/wiki/Bitcoin_ATM
Production of bitcoin hardcopy notes is actually of no use. We can't transact with bitcoin notes, but instead we can do so with paper wallet. The concept and working of bitcoins is entirely different from those of normal centralised notes so we can't really expect the notes for bitcoins. From my side, what i think is bitcoins can never exist in currency notes because of them being decentralised.

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Quote from: NavI_027 on February 09, 2019, 10:42:30 PM

Quote from: Burogh on February 09, 2019, 10:21:16 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.

Bonsaiav

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Quote from: Myown55 on November 11, 2018, 09:51:20 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 know because in our country there's no Bitcoin ATM installed, so we can only judge and conclude that the operating system in Bitcoin ATMs seems likely to be the same as online exchanges which include buying and selling transactions and of course this's inseparable from the presence of fiat money in it, IMO.

NavI_027

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Quote from: Burogh on February 09, 2019, 10:21:16 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.

Burogh

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Quote from: joshv06 on January 22, 2019, 09:54:59 AM

Quote from: Destico on January 22, 2019, 09:10:38 AM

Bitcoin is a digital currency of it own, it is decentralized , making currency note of bitcoin will make it to look like other note currencies and it will affect the value of bitcoin in the market, and it will be control.
In my opinion I don't think the note will ever come in existence, the ATM is already OK.

Obviously bitcoin is decentralized in nature if it comes in currency note then the value of btc will fall and some authority or centralized control will take place to print the currency and maintain it. Bitcoin is built to be used as virtual currency in order to avoid theft, fraud in the society. BTC transaction is secure and it is difficult to hack that is why bitcoin came into existence.

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

iMark

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Quote from: hakertajniak on February 09, 2019, 11:51:37 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.

Agree, I think it's not a good thing to make the paper version of bitcoin, bitcoin is part of future technology, its function is to educate the public to use digital currency to be more efficient. becoming a currency note is not a good idea

maman567

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We need new era where government will be allowed bitcoin as legal transaction payment, many time always faced with bitcoin and altcoin become illegal payment and make many country still banned for using bitcoin as transaction payment.

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