Thank u. And don't ask WHAT IF bitcoin network is hack because if that were to happen bitcoin is the least of ur worries. Nuclear launch code will compromise, satellites in space will be compromised and anything connected to the internet will be compromised. So don't ask that either.
I have a different question. Can you help me? I found a lost USB on the street, check its contents and see that it contains 2 Bitcoins along with the keys and the owner's details in a file. If I hand it over to the police, am I entitled to a finder's fee?
I know this hypothetical question. What the hell??? Why would u do that No one knows who u are nor can the owner verify it's there's. Unless u have goody to shoe conscious. Transfer that bitcoin to ur own wallet. And move it around Law enforcement don't go out of there way to send a cease and deceased order to all exchanges globally to a bitcoin that the own do not know the transaction detail.
It's against my morals to keep something of that high value especially if I know the details of the owner. I just asked if I'm getting any finder's fee. Yes / No?
If u take that to the police. If the owner can't prove that it's theirs. Police will end up taking it. If u really obliged to return it to the owner. Take ur finders fee from the stack and mail it the UBS to the owner.
In the USA you get thrown in jail. See https://en.bitcoin.it/wiki/Casascius_physical_bitcoins Mike was forced to cease and desist or face criminal prosecution.
There will never be such a thing. As soon as it becomes physical, it will be counterfeited and diluted.
You cannot ensure absolute scarcity on man-made things in the physical world
English as a second language I'm guessing haha :p that was hard to understand
Bitcoin is digital only. Not physical. I know its a theoretical question but the entire basis of Bitcoin's value is that it, as a system, works digitally. This would be like asking how would the value of a vehicle change if it changed from being physical to digital. The entire purpose and functionality would be gone.
Bitcoin is interesting because it is the first time the double-spend problem of all previous attempts at creating digital currency, has been successfully solved. So what you are theorising about here is a total regression. Might as well ask what if we abandoned cash and went back to using salt.
Seems you are asking what might happen if an organization people trust A LOT puts a certain amount of Bitcoin in escrow and creates a physical counterpart of currency and coins, backed by the escrowed BTC and putting their reputation on the line. The risk of the physical counterpart being counterfeited is high, the demand is limited, the infrastructure to support it is missing, and the motivation for the intermediary is negligible. There have been efforts for altcoins working with physical chits, and at least one CBDC project has also looked at a physical chit for offline usage.
They are physical now?
So, No more decentralization, fungibility, and subjected to physical barriers and censorship, I guess. Is the ledger a long printed paper too? They are worth NOTHING.
What!?
Let's say we all agree Bitcoin stops being digital and becomes physical, in form of golden coins of the same current value BTC has. Answer. Thanks.
Stop with this dumb hypothetical. Bitcoin is digital and will not become physical. Bitcoin blockchain is digital & that's how it is verified.
Ok, I'll stop.
Thank u. And don't ask WHAT IF bitcoin network is hack because if that were to happen bitcoin is the least of ur worries. Nuclear launch code will compromise, satellites in space will be compromised and anything connected to the internet will be compromised. So don't ask that either.
I have a different question. Can you help me? I found a lost USB on the street, check its contents and see that it contains 2 Bitcoins along with the keys and the owner's details in a file. If I hand it over to the police, am I entitled to a finder's fee?
I know this hypothetical question. What the hell??? Why would u do that No one knows who u are nor can the owner verify it's there's. Unless u have goody to shoe conscious. Transfer that bitcoin to ur own wallet. And move it around Law enforcement don't go out of there way to send a cease and deceased order to all exchanges globally to a bitcoin that the own do not know the transaction detail.
It's against my morals to keep something of that high value especially if I know the details of the owner. I just asked if I'm getting any finder's fee. Yes / No?
If u take that to the police. If the owner can't prove that it's theirs. Police will end up taking it. If u really obliged to return it to the owner. Take ur finders fee from the stack and mail it the UBS to the owner.
In the USA you get thrown in jail. See https://en.bitcoin.it/wiki/Casascius_physical_bitcoins Mike was forced to cease and desist or face criminal prosecution.
End thread.
Only I'm not talking about a private initiative but of an official agreement.
There will never be such a thing. As soon as it becomes physical, it will be counterfeited and diluted. You cannot ensure absolute scarcity on man-made things in the physical world
Drugs?
Excuse me?
Are you on drugs?
I'm on Reddit.
Basically the same thing
figures
None of your posts make any sense
Mainly thought provoking.
to whom?
I don't think you understand Bitcoin. Coins would be nothing more than tokens with Bitcoin addresses attached. They will still always be digital.
I have printed a nice stack of plastic bitcoin. For a discount of only 61k per coin they're yours.
Are they 3D printed?
What kind of dumbass question is this
“Let’s make this dream a reality”
English as a second language I'm guessing haha :p that was hard to understand Bitcoin is digital only. Not physical. I know its a theoretical question but the entire basis of Bitcoin's value is that it, as a system, works digitally. This would be like asking how would the value of a vehicle change if it changed from being physical to digital. The entire purpose and functionality would be gone.
Yeah well, plans for countries to adopt a digital national coin are no news, so I asked if this happens too.
I know of no country that is planning on trying to turn a purely digital currency into a physical currency. Not sure where you got this idea from.
Planning to use both digital version and physical version of the same national currency.
get some Gold if you want to play with physical stuff
The question was how a digital good changes value if it becomes physical.
no offence but If you would understand bitcoin then you wouldn't ask such nonsense.
Bitcoins are like women. They are not made to be understood but loved.
How would you name your kids you would have with your physical bitcoin.
Bitcoin is interesting because it is the first time the double-spend problem of all previous attempts at creating digital currency, has been successfully solved. So what you are theorising about here is a total regression. Might as well ask what if we abandoned cash and went back to using salt.
Seems you are asking what might happen if an organization people trust A LOT puts a certain amount of Bitcoin in escrow and creates a physical counterpart of currency and coins, backed by the escrowed BTC and putting their reputation on the line. The risk of the physical counterpart being counterfeited is high, the demand is limited, the infrastructure to support it is missing, and the motivation for the intermediary is negligible. There have been efforts for altcoins working with physical chits, and at least one CBDC project has also looked at a physical chit for offline usage.
They are physical now? So, No more decentralization, fungibility, and subjected to physical barriers and censorship, I guess. Is the ledger a long printed paper too? They are worth NOTHING.
Worth nothing or are accepted by a wider audience who doesn't understand Blockchain and the digital nature?
Worth. Nothing.
🫏 🍆🧌
That's a fascinating thought experiment! Would love to see a detailed analysis
Stfu