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- #61
I do not understand the point you are trying to make. Maybe you should explain further. You are trying to illustrate your answers using some analogy that is not clear enough. I would love to get a clearer take from you.
If Bitcoin Were To Be a Physical Coin Would It Still Be This Valuable?
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No I don't think that bitcoin will still be thus valuable if it was a physical coin. This is because physical coins are controlled by financial institutions and this will inevitably affect the value
If bitcoin was a physical coin it would not be a decentralized currency, it will be a coin that is minted by the government and the coin will be in control of the government.
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I really doubt if BTC was a physical coin it would be valuable because it's decentralized nature would be lost and it would be subject to the laws of a particular country. It would also be way easier to steal by criminals.
If bitcoin was a physical coin I don't think it will even be valuable. The reason it became so valuable is because it is a digital currency and it is the decentralized which is the main reason many people are adapted to it.
If bitcoin or other crypto currency were to be a phhsical coin , i dont think it will be this valuable , it will just be like the normal currency we are using in out daily basis.
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If it's a physical coin, it would still be valuable because it's circulation is not high and being physical would mean more awareness about its potentials and more people would be interested in itm
I don't think it will be this valuable. It non physical in nature was what made a lot of people to widely accept it. If it is physical currency the government will have much power in deciding it fates in each country.
this might not actually be possible for a cryptocurrency like bitcoins to be a physical coin ,but in case of that it will not be valuable because there is no general currency in the world as every country has their own currency.
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For bitcoin to be in a fiat form ,i don't think it would be that valuable the way it is.The beauty of the whole cryptocurency thing is the decentralise nature of its operation.The fiat natuer would make the government to have control and regulate how far the value can rise to.
I do not think so.If bitcoin was physical coin and his value was for example 30000 dollars everyone woulh have been afraid of stealing his bitcoin.Also if someone has invest few amount of money in bitcoin how could you have in your hands 0.00029782 bitcoin.
I would definitely not be worth anything near what its digital version is worth because as a physical coin, there is no way people will have it in bits but whole which would make for a non active market.
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No , it will not be valuable and it's usage won't be profitable as it is now. Being a virtual currency is what made bitcoin available to wide number of people in the world.
No, I do not think so. one of the advantages of cryptocurrency is that it is different from fiat currency. The fact that it's not a physical coin gives it much more edge over other fiat currency out there. should it be a physical coin, it won't be this valuable.
If a bitcoin or any crypto currency is a physical currency, I don't think it will be valuable , one BTC at the moment is $43k and i dont really know if one currency can worth $48,000 in this world so bitcoin will decrease drastically if it were to be a real money.
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Well I think the fact that's it's a digital currency is also a good factor in its being expensive, so ofcos if it's a fiat currency then the price could not be as high as it is now
I totally agree with you. The anonymity that bitcoins enjoys is one of the reasons why people make use of bitcoins, once it is made a physical currency it will lose a lot of investors because it will likely be controlled by the government.
A physical currency is a government controlled currency. Only government can launch fiat money. Bitcoin being physical currency means it is government currency. Therefore, you need to understand the basic things when you ask a question.
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I guess the Bitcoin will gain more fans if it would be a physical coin. However, the denomination would be a problem because even in the dollar there are cents that are needed for the transaction. Dealing with millions of dollar worth I think the coins will not be a practical means for such a transaction.
That is the difference and shows that Bitcoin can never be a physical Currency since this would mean the government being the one to control it.
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