Re: [Bitcoin-development] Paper Currency

[Chris Pacia <ctpacia@gmail.com>]

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Since these notes have to be redeemed immediately the number of use
cases seems limited. I can't really just hand someone the note and walk
away because they have to scan it to see if it is actually valid.
Otherwise someone could just pass fake notes if they felt the recipient
wouldn't redeem them on the spot. This doesn't seem like an improvement
over just sending the coins via phone.

The use case with poor internet connection wouldn't work as well since,
presumably, the recipient would also have poor reception and couldn't
verify the note was actually loaded with bitcoins.

Also, I REALLY don't like the name bit reserve.

-Chris

On 05/17/2014 11:31 AM, Jerry Felix wrote:
> It seems to me that there's a huge need for a paper currency that is
> counterfeit-resistant, inexpensive to print, internationally
> recognized (border-less), fits in a wallet, and machine readable.
>
> I pitched this idea at the Cincinnati Bitcoin meetup last week, and I
> didn't get thrown out, so I took the time to document a proposed
> standard to accomplish this.  I've put my ideas into BIP format, so
> that you can see what I have in mind, although I picked some
> BIP numbers myself that seem to be available.  Call them "proposed
> proposals", or "provisional BIPs".  I've numbered them provisionally
> BIP-80 to BIP-84.
>
> If you guys think that this idea has some merit, let's discuss.
>
> https://github.com/jerfelix/provisional_bips/blob/master/README.mediawiki
>
> Submitted with humility and some fear of getting laughed out of here...
> - Jerry
>
>
>
>
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