Bitcoin as paper currency?

[mandisa]

I was wondering, isn't it possible to make a paper currency version of BTC by printing 10k or 100k Satoshi notes with a QR code and transaction ID on it? This would ofcourse need trust in a centralized system but if you were to send the 100k sats to a public key and the private key for it is destroyed then the supply of it is still honoured by the blockchain? Because that 100k sats cannot be sent anywhere since the private key for it is gone. It then only exists as its paper version.

Food for thought, for national cryptocurrencies something like this could be quite cool.

 

[The CC Forums]

Paper wallets can be set up to work this way. A lot of security steps need to be followed to keep the private key truly private and safe.

Then you need a separate wallet software to “spend” it. You have to make sure to handle any “change” or leftover bitcoin in each address when spending only a portion stored on one address.

I personally find hardware wallets most convenient. I have a slight preference for Trezor’s device, but I use Ledger’s Nano S and Blue as well since Trezor doesn’t support some coins I hold.