Will Bitcoin ever exist in currency notes? - page 9.

sinkfish

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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.

why you need currency notes for bitcoin. it will defeat the purpose of bitcoin. bitcoin works in networks. you use your smartphone to accept bitocin. bitcoin atm is serve as a portal for fiat/bitcoin exchange. you can buy bitcoin with fiat through the machine.

nuraziaaziz

newbie

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That is an interesting subject however I don't think so Bitcoin will ever exist in currency notes because it was clearly mentioned that Bitcoin is an cryptocurrency/digital money where it does not involve any third parties or banks.

basyang

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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.

Well, in my opinion about this. It is possible to use ATM to withdraw money. Let we say from bitcoin convert to fiat money. It is possible to do because it is the process implemented in ATM machine. Which is convenient to use, you do not need to used your mobile phone to withdraw instead you can use a card. You can used Bitcoin all over the world except in the countries banned bitcoin and other currency.

SimonJones

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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 think that bitcoin will ever exist in currency notes. It is a decentralized digital currency and it will never lose its aspect.

eann014

hero member

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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.

Ofcourse they will withdraw they bitcoin already converted to fiat on what currency they are using. I can also encash my bitcoin through ATM machines and it is already converted with our currency which is peso.

Aponkye1

member

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Well i doubt this because the main idea of bitcoin was to create a cashless society where we only trade with bitcoin and other cryptocurrencies for faster and secured systems other than what electronic payment system and fiat currency can offer. Bitcoin is a digital currency so i wish we can keep it that way.

cahbagus555

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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 think when withdrawing our bitcoin in ATMs, its mean we withdraw in fiat money. I am read in online media, there is more 4000 bitcoin ATMs worldwide and i am believe it will increase

Nasonn

jr. member

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I don't think it will ever exist as a currency note because that will defeat its purpose, bank notes can be printed at will which is one of what bitcoin is against so it will make no sense printing bitcoin notes.

IndigoRed

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Quote from: Marcel555 on November 12, 2018, 02:54:14 PM

Bitcoin is a digital currency which fuels the blockchain technology and is the custom countries which can be transferred through it.

Having as a bank note is retrogressive and unnecessary.
It can of course be stored in hardware wallets which is offline.
The world is ~~gradually~~ rapidly moving towards a cashless society, we can't be going in the opposite direction

Exactly. We already have this amazing technology that provides for the structure of a digital currency. Why go back to the traditional and problem-prone paper money? A digital currency provides so much potential, not just bitcoin, but there are cryptos designed to reshape the market with features such as a virtual market place, an escrow system etc. There's so much we could explore if we move forward with the technology.

cynical

full member

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How can transactions be verifued and confirmed if people are handing paper notes around the place. I think the whole idea is absurd to be honest. "One step forward, two steps back"

Indrawan77

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Yes there are some bitcoin Atm machine in some country, and since bitcoin doesn't has any physical shape then we can only withdraw fiat through the Atm, I don't think there will be any physical shape of bitcoin and bitcoin atm is not too popular since it got a high fee, but it's one of the alternative way to cash out bitcoin into fiat

airdagon

member

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yes, in some European countries and Japan, Bitcoin ATMs have been used, and in my opinion, bitcoin ATM only serve bitcoin, not fiat.

bitcoin ATM is used to fill crypto balances, maybe using ledger nano, or with gadgets, and of course, the use of ATM bitcoin is very limited.

FedorIzmailov

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I think bitcoin will never exist in currency notes. this completely contradicts the ideas of the coin itself and cannot be feasible if we consider Bitcoin as a digital asset.

mensahkkofie

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Bitcoin is already a digital currency that is widely accepted by all crypto enthusiasts. I don't think there would ever be a time where you would see printings of bitcoin denominations on a piece of paper to denote a particular amount of bitcoin. I believe this has always been the case, it is strictly a digital currency not a physical fiat currency.

proTECH77

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Bisq Market Day - March 20th 2023

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.

Actually the currency might not exist in the form of fiat currency rather like a virtual currency.
Those ATM machines are mainly for the buy and sell of Bitcoin, also for online transactions. This will be a new era of cashless policy.

Marcel555

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Bitcoin is a digital currency which fuels the blockchain technology and is the custom countries which can be transferred through it.

Having as a bank note is retrogressive and unnecessary.
It can of course be stored in hardware wallets which is offline.
The world is ~~gradually~~ rapidly moving towards a cashless society, we can't be going in the opposite direction

O92Kon

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https://evoai.bjammerboy.io/7135/5493108

aoluain

legendary

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No is the answer.
We all have to realise a number of things.

Bitcoin wont be used as legal tender by any country, they will just create
their own digital currency, digital FIAT which will be centralised and controlled.

We are edging towards a cashless system, a chip and pin, a plastic system
with cards and devices not metal and paper.

Butcoin is a digital cash system which is currently operational without physical
coins and notes other than collectable tokens.

Vladislav2306

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I didn't hear such a great news. The ATMs of course will give you fiat money of the given country. In the other case you should have such ATM at your home or spend a lot of time near this ATM till transaction will be confirmed.

kostia21

full member

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Buy, sell and store real cryptocurrencies

countries are gradually beginning to accept bitcoin and put it into circulation, I have also seen such ATMs in Ukraine. I think that they just pay after the rate which is currently on a certain exchange)))

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