Just crossed my mind today. Will it make sense if someone will create a paper money equivalent of bitcoin? And the coins will be the smallest unit of bitcoin, Satoshi? Like the currency today? I think it is okay if it became a globally accepted currency. And it will serve as a payment for everyday goods. What do you think?
I don't think so, simply because of the implications that would bring to the currency. How would you prevent that those paper replicas would not be counterfeited? Banks do that for us, but they are centralized, and we need them to do so. Bitcoin allows for trustable transactions without the need for third parties to verify them, because of its blockchain system. If introduce a paper representation we will just lose that feature, and we will be dependent of a third party method of verification, and not just the bitcoin network.
I don't think so also because as what i have knew bitcoin was made for digital currency purposes only. Maybe those whom planning to make bitcoin into a paper money should consult first satoshi gor he is the one who craeted it. And since bitcoin is not accepted in most countries so it would probably be impossible to happen.