Topic: Will Bitcoin ever exist in currency notes? - page 7. (Read 19874 times)
Basically for those who are not aware, the bitcoin ATMs works similarly compared to the traditional ATMs where you can easily perform several transactions such as checking your balance, transferring bitcoin and also withdrawing into fiat currency. I believe if you are conversant with the traditional ATMs there is no way to worry about how the bitcoin ATMs works.
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.
For now bitcoin ATM machines can only operate on fiat currency and not digital notes. By the time the full adoption of digital currency will surface, the use of Bitcoin note currency will be made available through bitcoin ATM machines all around the globe but for now, the bitcoin ATM machine allows fiats dispense instead of digital notes currency dispense. 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.
Its funny when people still ask this question. First and foremost, Bitcoin is described as a digital currency and operate on a system called blockchain. Digital means digital, why should you think there will be a currency notes for bitcoin? Creating of currency notes change the whole idea of decentralization of Bitcoin into centralization, where a central authority can dictate and control the amount of Bitcoin in circulation. So the answer to your question is simply and it is no, there will never be currency notes of Bitcoin.
Bitcoin will be exist for several years later but is depend how bitcoin price at the future, when bitcoin never have growing price maybe bitcoin just be on memorize, but when bitcoin could change to higher price will make bitcoin keep exist.
If bitcoin ATM despense bitcoin in form of physical money, it means bitcoin have become a fiat currency. The bitcoin ATM will just convert your bitcoin to fiat equivalent.
The only authority that can make a currency note is the central bank and it is owned and ran by the government which operate in a centralized system of governance. If bitcoin converted into currency notes, it will no longer decentralized because government is not in favor of decentralized currency. Bitcoin is destined to become a decentralized virtual currency so it is not possible to make it into currency notes.
just read the BTC white-paper and you will get answer to your question.
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.
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 dont think bitcoin notes will be necessary to used in cryptocurrency because it is a digital currency.
Unlike fiat money, bitcoin is a cashless peer to peer currency.
Bitcoin ATM is simply a fiat - crypto exchange in a machine to make you convert your fiat to btc easier.
What I understand
ATM is exchanging currencies for Fiat
This is short
I feel you understand it wrongly.
ATM is exchanging currencies for Fiat
This is short
I feel you understand it wrongly.
i dont think bitcoin will exist in currency notes. the ideology is to have an online payment system different from our normal banking system. having bitcoin in currency notes means the banks will be in charge which brings us back to the problem we were trying to solve in the first place. so no bitcoin will never exist in currency notes
I know that there are crypto ATMs but I have not seen information about the fact that an ordinary ATM will exchange cryptocurrency. I do not think that it is necessary because the cryptocurrency is easy to exchange on the Internet and withdraw to a Bank account or credit card ( Visa, MasterCard)
I'm sure, if bitcoin is always the legitimate currency and will always be the number one currency.
and I can't think that way ..
and I can't think that way ..
There are already terminals that can be used to exchange cryptocurrencies for Fiat money, for example. I think if there will be specialized banks on cryptocurrency, their ATMs will perform similar functions. I just do not understand why you need a cryptocurrency in the form of banknotes. The whole essence of cryptocurrency in this case will disappear. As cash can use fiduciary currency.
True. Bitcoin was always known to be a virtual currency and hence it's not possible nor needed to be a physical currency when the number of bitcoins are limited while there were some rare cases where people were cheating others by selling physical bitcoins which were not bitcoins but fake coins.
Bitcoin is already a currency but in this case it is not just an ordinary currency it's a cryptocurrency which also mean it's a form of digital currency.
And digital can be regarded as electronic form which it can be in physical notes like other currency.
And digital can be regarded as electronic form which it can be in physical notes like other currency.
There are already terminals that can be used to exchange cryptocurrencies for Fiat money, for example. I think if there will be specialized banks on cryptocurrency, their ATMs will perform similar functions. I just do not understand why you need a cryptocurrency in the form of banknotes. The whole essence of cryptocurrency in this case will disappear. As cash can use fiduciary currency.
Absolutely not.
Bitcoin was created as a decentralized virtual currency.
So I do not think it would ever exist as a Fiat currency as that would defeat totally the purpose dlfor which it was created.
Bitcoin was created as a decentralized virtual currency.
So I do not think it would ever exist as a Fiat currency as that would defeat totally the purpose dlfor which it was created.
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.
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.
Bitcoin is meant to be a digital currency that can be transacted over the internet without the need of physically carrying it. I dont think there are any such plans of bitcoin notes. That is funny to think about, it will be regressive if we think about in that way.
Bitcoin will work against currency notes. We all know that Bicoin is the possible coin of the future. When this digital currency starts circulating all over the world, we do not have to change any currency through the bank. I do not think any ATM boots will be needed. Then we will deal with bitcoin or crypto currency with each other
I think there is no need to ask about it. We all know that bitcoin is already existing as form of currency. I believe that bitcoin is really a currency an amazing digital crypto currency that is really safe to use and it can also help as gain through investment. I believe that bitcoin has really a bright future.
bitcoin is not recorded in the original financial sector, but this bitcoin can help in the day-to-day, why not just keep this bitcoin and advance it into a currency? I support if bitcoin is made into the world currency 
If Bitcoin is a decentralised currency then what institution would issue currency motes? Just trying to figure out the possiblity of it
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