Author Topic: BTC is not stored physically  (Read 828 times)

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Offline robertsmarkTopic starter

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BTC is not stored physically
« on: February 13, 2021, 09:51:55 AM »

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First of all, BTC is not stored physically. It is stored on the BTC blockchain under your public BTC address. And if you have the corresponding private key, then you are able to access them. The hardware wallet doesn’t store your coins, it’s only storing you’re private keys. Any wallet is just a GUI to the actual blockchain and you always need the combination of public and private key pair in order to access the coins stored on the blockchain.

Online mlawson71

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Re: BTC is not stored physically
« Reply #1 on: February 13, 2021, 06:58:29 PM »
Well, it can't be, because it is not a physical currency.

Offline robertsmarkTopic starter

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Re: BTC is not stored physically
« Reply #2 on: May 06, 2021, 09:27:28 AM »
indeed. Bitcoin is digital currency and it can only be stored digitally

Online mlawson71

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Re: BTC is not stored physically
« Reply #3 on: May 06, 2021, 01:40:45 PM »
I am pretty sure that is a big part of the appeal.

Offline CryptoStar19

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Re: BTC is not stored physically
« Reply #4 on: June 23, 2021, 01:30:40 PM »
Yes it's great that we now have a store of value that isn't physical and can be sent around the world in a matter of a few minutes. Imagine how much more cumbersome it is to transfer a traditional store of value like gold... it's heavy and you would need a lot of security and it would take time to move it.

 

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