No More Physical Currency? - Coin Community Forum

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Author	Replies: 6 / Views: 976
CoinDan98 Pillar of the Community United States 1053 Posts	Posted 07/25/2013 8:50 pm Just saw a piece on the news about a new type of "currency." It's called 'Bitcoin,' and it's completley digital. All done with ones phone or tablet, and it's all just numbers. No physical funds or stores of money. It is not a government operation, just a third-party business. Sad. I believe physical money will soon be a thing of the past. (soon as in within 60 years or less). What are your guys thoughts on this? Will post a link as soon as I can. Do you guys think physical currency will soon be obsolete? And will that be benficial to coin collecting or not? * Moved by Staff to a more appropriate forum. * Report this Post to the Staff

CoinDan98 Pillar of the Community United States 1053 Posts	Posted 07/25/2013 8:58 pm http://bitcoin.org/en/ Report this Post to the Staff
fioti Pillar of the Community United States 4212 Posts	Posted 07/25/2013 9:00 pm Search the forums for more info, it's been around awhile. Matter of fact, there was one (some?) for sale here recently. I'm no fan, but it has it's proponents. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21786 Posts	Posted 07/25/2013 9:12 pm If there are no circulating notes and coins, it will be even easier for the Government and criminals (both international corporate, and free lance), to control your finances for you. Report this Post to the Staff
CoinDan98 Pillar of the Community United States 1053 Posts	Posted 07/25/2013 10:03 pm hackers must love this stuff. People make it too easy. Report this Post to the Staff
publius Pillar of the Community United States 807 Posts	Posted 07/25/2013 10:39 pm Physical currency has a kind of security which no other payment mechanism can meet. And that's not just security for the payer & payee, but also for the economy. After the events of the past few years, it ought to be obvious that the push to get all transactions done through banks (credit, point-of-sale debit, & the like) was ill-conceived, because it contributes substantially to the dangers of a panic. The more small- & moderate-size transactions are handled with coin & currency, the less day-to-day commerce is affected by trouble in the money markets. Report this Post to the Staff
AES Valued Member United States 451 Posts	Posted 07/25/2013 11:11 pm Yes. Once one understands the bitcoin blockchain, they quickly realize that anyone anywhere can track all transactions through this "public ledger". Report this Post to the Staff
	Replies: 6 / Views: 976

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