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Author Topic: Making a physical bitcoin currency using QR codes  (Read 1567 times)
gaiapunk
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June 02, 2011, 10:54:47 AM
 #1

I believe it would be possible to create a secure physical bitcoin currency using QR codes.  Here is how I believe this could be done:

First people would print their own bitcoin denominations that have a special QR code that initially corresponds to their bitcoin address.  People can print bills in any denomination they choose.  A system would have to be set up that allows for the transference of  the encoded qr data once a transaction has been verified.  People will access the QR code through a special bitcoin mobile app that will verify a transfer. Both parties must access this app and the qr code on the bill to confirm the transaction, hence no stealing.

What are people's thoughts on this and has it already been done, and if not, why not?  Lets do it!
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Meni Rosenfeld
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June 02, 2011, 11:01:21 AM
 #2

I believe it would be possible to create a secure physical bitcoin currency using QR codes.  Here is how I believe this could be done:

First people would print their own bitcoin denominations that have a special QR code that initially corresponds to their bitcoin address.  People can print bills in any denomination they choose.  A system would have to be set up that allows for the transference of  the encoded qr data once a transaction has been verified.  People will access the QR code through a special bitcoin mobile app that will verify a transfer. Both parties must access this app and the qr code on the bill to confirm the transaction, hence no stealing.

What are people's thoughts on this and has it already been done, and if not, why not?  Lets do it!
Things like this have been discussed. It's just a matter of coding that app and letting people print as they wish.

You may also wish to search for BitBills.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
unemployed
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June 02, 2011, 11:07:10 AM
 #3

I believe it would be possible to create a secure physical bitcoin currency using QR codes.  Here is how I believe this could be done:

Present bitcoin addresses can be displayed as QR codes.
I think that would be a very convenient custom to publish a QR code near each published text address. An idea for a firefox or chrome extension - displaying QR code after hover over address. Add a cell phone app and it would allow very easy and quick payment by cell phone!

Bitcoin Tool - browser extension for Firefox, Chrome and Internet Explorer
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http://i.imgur.com/4OT19.png    <- Bitcoin Tool recognizes bitcoin addresses on websites, and links them to blockexplorer.
BombaUcigasa
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June 02, 2011, 02:49:30 PM
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search for BitBills.
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Meni Rosenfeld
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June 02, 2011, 02:52:12 PM
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The site, yes, but there's the forum thread.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
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