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can anybody post all 4 bills in one post so it is easier to vote?
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EDIT3: there may be a need for a trusted third party which prints bills for bitcoins. you send this party your amount via transaction. they print the bill with a private key which is not allowed for transactions and send the bill to you. if you want to convert "papercoins" into bitcoins you have to send the bills to the trusted third party and they will send you the amount via transaction. divide and rule
--end--
Like an exchange? It's a little more complicated than you outline, but I take my paper money to this place called "a bank", they convert the paper into bits for me, which I wire over to an exchange of my choice and they let me convert it to BTC. The process works in reverse too, converting Bitcoins to third party paper money. If you need a trusted third party, Open-Transactions already has the protocol and implementation for what you're discussing in one of its modes. See this link to decide which mode. The O-T server is the trusted third party or bank. It's not the same as bitcoin, but you can issue new currencies and trade bitcoins for them. You can certainly print it on paper. https://github.com/FellowTraveler/Open-Transactions/wiki/Instrumentsvideos thread- https://bitcointalk.org/index.php?topic=93086.0very interesting! thanks! |
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can anybody explain the concept of this p2p pool in few words? is a from bitcoin seperated blockchain the fundation? thanks!
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epic epic stuff:)
could be!  really, i see a need for a second blockchain for bitcoin bills. an "authority" has to observe the transfer from bitcoins to "papercoins" and back somehow. the "authority" can also be distributed. the money supply has to match against each other between the two blockchains. at the moment "papercoins" would be behind with money supply but this doesn't matter because the need for "papercoins" is low but could be raised in the future. exchange rate is 1:1. if you "transfer" bitcoins into "papercoins" the bitcoin amount would be frozen like a lost wallet. the amount is now on the "paperbill". you can change it with trust together with other parties. if you want to transfer the amount online you have to change back "papercoins" into bitcoins 1:1. then the amount of money is available in the bitcoin network and the bill is destroyed. very similar like central banks deal with cash. "Papercoins" as you put it are traded purely by trust unless you use a Bitcoin Checkbook which is treated like any bitcoin transaction. goal should be to manage bitcoin bills completely offline until you will transfer the amount via bitcoin network. there should be no need for a receiver of bitcoin bills to convert it to bitcoins until he will transfer the amount to anywhere online. concept of Bitcoin Checkbook has the need to check the loaded amount online to trust into it. EDIT: reason for the need to be completely offline for a while could be a natural disaster, a war or something other where an online access is not possible. in this case you can take your bitcoin bills with you at least. EDIT2: intention is to fit this requirement How would one verify an offline wallet, OFFLINE?
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epic epic stuff:)
could be! really, i see a need for a second blockchain for bitcoin bills. an "authority" has to observe the transfer from bitcoins to "papercoins" and back somehow. the "authority" can also be distributed. the money supply has to match against each other between the two blockchains. at the moment "papercoins" would be behind with money supply but this doesn't matter because the need for "papercoins" is low but could be raised in the future. exchange rate is 1:1. if you "transfer" bitcoins into "papercoins" the bitcoin amount would be frozen like a lost wallet. the amount is now on the "paperbill". you can change it with trust together with other parties. if you want to transfer the amount online you have to change back "papercoins" into bitcoins 1:1. then the amount of money is available in the bitcoin network and the bill is destroyed. very similar like central banks deal with cash. |
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user "zhoutong" was online today so he is lurking around.
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EDIT3: there may be a need for a trusted third party which prints bills for bitcoins. you send this party your amount via transaction. they print the bill with a private key which is not allowed for transactions and send the bill to you. if you want to convert "papercoins" into bitcoins you have to send the bills to the trusted third party and they will send you the amount via transaction. divide and rule
--end--
Like an exchange? It's a little more complicated than you outline, but I take my paper money to this place called "a bank", they convert the paper into bits for me, which I wire over to an exchange of my choice and they let me convert it to BTC. The process works in reverse too, converting Bitcoins to third party paper money. yeah, but Bitcoin paper money with change rate 1:1, maybe a second blockchain only for "Papercoins" and merge mined like Namecoins EDIT: the problem with bitcoin bills are the transactions, for bitcoin bills you don't need transactions, it is offline money like cash |
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Or port it to JAVASCRIPT
+1 EDIT: I hate unsecure quick 'n dirty solutions too!! To much of them in Bitcoinica... |
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How would one verify an offline wallet, OFFLINE?
not possible, the receiver has to check it online before accepting the bill and transfer the amount away. one possibility could be a trusted third party check the oflline wallet during print out of the bill but then the problem is after print out someone can use the private key and transfer the amount away. a quick check would be to check if the public adress was used already in the past. if not the bill has the whole amount. EDIT: nonsense, offline wallet has to be loaded therefore it was used already! The selling point of paper money or coin money is that the value of the token is already established and knowledge that once the token exchanges owners the value of it transfers as well as 100 percent of the control. I do not think that having bitcoin paper money is going to act 100 percent like the precived notion of existing paper or metal monetary tokens. My thoughts are that we need to revisit the intended use of the paper wallet for everyday transactions. Thoughts? Bitcoin 2.0 ?? there has to be exist special private keys only for offline wallets. only two transactions are allowed for them. 1. fund it 2. clear it EDIT: in addition a trusted website check the public key if the offline wallet is funded and print out the bill and seal the bill with "amount approved by bla bla" ore something like that, but the receiver has to check it also if funded, so it is senseless EDIT2: we need private keys where transactions are not allowed, then you can create a private key with a certain amount. for this you need a authority which you allowed to get a private key with a certain amount and to put a private keys amount to a private key allowed for transactions. but this could be tricky with no authorities! EDIT3: there may be a need for a trusted third party which prints bills for bitcoins. you send this party your amount via transaction. they print the bill with a private key which is not allowed for transactions and send the bill to you. if you want to convert "papercoins" into bitcoins you have to send the bills to the trusted third party and they will send you the amount via transaction. divide and rule --end-- |
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How would one verify an offline wallet, OFFLINE?
not possible, the receiver has to check it online before accepting the bill and transfer the amount away. one possibility could be a trusted third party check the oflline wallet during print out of the bill but then the problem is after print out someone can use the private key and transfer the amount away. a quick check would be to check if the public adress was used already in the past. if not the bill has the whole amount. EDIT: nonsense, offline wallet has to be loaded therefore it was used already! |
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nice, I guess you're rich!  |
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Rounding the corner of 3 weeks.  you should post this every single day until it is solved! |
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"Everything is bogus, this whole rally thing is bogus, they will finally find out and roll all the way back to $2."--from a desperate permabear
LOL then bitcoin will go back to 0.01 |
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so difficulty is to high people shut down there GPU miners and sell them before ASIC is coming and then nobody sell their earned coins because of the coming next bubble?
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 lol! no sellers??? pirate has to jump in and sell some coins and by them back at a higher price... |
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crowd is pro bitcoin...  |
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