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Author Topic: The new British five pound note  (Read 656 times)
Jet Cash
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September 21, 2016, 04:56:37 AM
 #1

Here are a couple of images of the new British five pound note




It's plastic, and it contains a metal image of St Stephen's tower ( now called Big Ben ). This looks to be ideal for use as an aerial to support a tracking device. It looks as if the replacement fiat currencies are going to be digital, and governments seem keen to stop people using cash. There is a lot of resistance to this. The obvious solution would be to include all banknotes in a blockchain under central control. It would then be possible to track the movement of individual notes through the economy.

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September 21, 2016, 06:13:54 AM
 #2

Here are a couple of images of the new British five pound note




It's plastic, and it contains a metal image of St Stephen's tower ( now called Big Ben ). This looks to be ideal for use as an aerial to support a tracking device. It looks as if the replacement fiat currencies are going to be digital, and governments seem keen to stop people using cash. There is a lot of resistance to this. The obvious solution would be to include all banknotes in a blockchain under central control. It would then be possible to track the movement of individual notes through the economy.


It's going to be very expensive to fit all notes with a unique tracking device. The metal image is similar to the small metal strip that are inserted into the fabric to make counterfeit of these notes more difficult. You cannot simply photo copy the note, because the metal strip will be absent.

I think people are a bit paranoid over this. The threat of using credit and debit cards are bigger and I think the plastic will make extraction of finger prints a little bit easier, if it was handled by criminals. The positive side of this is that you can wash the money without any damage to the note, and believe me, some of these notes are pretty dirty. ^smile^   

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September 21, 2016, 06:16:55 AM
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You make it sound like its the first plastic note ever, to be honest, its not even as advanced as some of the other plastic notes out there, I love how your topic escalated to bitcoin that quickly.

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September 21, 2016, 02:48:28 PM
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I can't see any mention of Bitcoin - are you aware that blockchains are a fairly old computing system? Bitcoins are a bit more than that.

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September 21, 2016, 03:45:27 PM
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It's going to be very expensive to fit all notes with a unique tracking device. The metal image is similar to the small metal strip that are inserted into the fabric to make counterfeit of these notes more difficult. You cannot simply photo copy the note, because the metal strip will be absent.

I think people are a bit paranoid over this. The threat of using credit and debit cards are bigger and I think the plastic will make extraction of finger prints a little bit easier, if it was handled by criminals. The positive side of this is that you can wash the money without any damage to the note, and believe me, some of these notes are pretty dirty. ^smile^   

It may be too expensive for now. But that will change with time. Not long ago, surveillance cameras were not affordable for widespread use. Nowadays, in major cities you can't find a single street that is not under constant surveillance. Even today, RFID's are extremely cheap. And these are sufficient for surveillance when passing certain checkpoints... so I don't think it's paranoid - it's absolutely realistic.

A different aspect is that there even is a new introduction of a 5 Pound note. As monetary inflation progresses, it will be interesting to watch the lifespan for this note...

ya.ya.yo!
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September 21, 2016, 06:19:44 PM
 #6

It reminded me of the notes which i have used before made out of plastic, i don't think this is anything near to be considered as advanced digital paper note but i agree on one of your statement
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The obvious solution would be to include all banknotes in a blockchain under central control. It would then be possible to track the movement of individual notes through the economy.
This types of centralized government currency however can't meet the features of bitcoin for sure.

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September 21, 2016, 10:20:29 PM
 #7

You make it sound like its the first plastic note ever, to be honest, its not even as advanced as some of the other plastic notes out there, I love how your topic escalated to bitcoin that quickly.

It's not the first plastic note ever which has been used in UK. But about this the government has notified their citizens since 2013.

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In 1999, Northern Bank of Northern Ireland issued a polymer £5 commemorative note celebrating the year 2000.
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September 21, 2016, 10:32:01 PM
 #8

You make it sound like its the first plastic note ever, to be honest, its not even as advanced as some of the other plastic notes out there, I love how your topic escalated to bitcoin that quickly.
The US $100 note is plastic, but I absolutely love it.  It's blue and has got all these neat security features on it.  It's too bad I'm such a poor sonofabitch that I can rarely hold onto one for long. 

This bill is damn pretty.  I'm not sentimental about old currency and I can appreciate the nice design on the new money.  I doubt this stuff is going to have individual tracking chips on it, but who knows.  I'll get paranoid when everyone else does, just let me know.

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September 22, 2016, 12:31:15 AM
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I actually really like the new 5 pound note. It's so rare to see one right now that it's probably worth a tad more than 5 pounds!
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September 22, 2016, 02:30:45 AM
 #10

You make it sound like its the first plastic note ever, to be honest, its not even as advanced as some of the other plastic notes out there, I love how your topic escalated to bitcoin that quickly.

This is a bitcoin forum, every post is about bitcoin!

So what are the Brits really trying to accomplish? Is it the tracking element that's so valuable to them? Is it the lessening of replacement costs that's so valuable to them? What could it be, for real?

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September 23, 2016, 09:17:17 PM
 #11

Tracking money would be scary and stupid. If I hand a friend a fiver and he spends it,I could see where,is that what you are driving at?
Seems to big brother for my liking but I would not doubt this would be something they would like to establish for a greater good.

You check out the Aussie bill?
Its trippy:
http://www.businessinsider.my/australia-new-bill-transparent-5-bank-note-holograms-2016-9/#L67aYtXvA5lBGXsG.97
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September 23, 2016, 10:58:18 PM
 #12

It's plastic, and it contains a metal image of St Stephen's tower ( now called Big Ben ). This looks to be ideal for use as an aerial to support a tracking device. It looks as if the replacement fiat currencies are going to be digital, and governments seem keen to stop people using cash. There is a lot of resistance to this. The obvious solution would be to include all banknotes in a blockchain under central control. It would then be possible to track the movement of individual notes through the economy.

Ideal case for a government would be putting all banknotes in a blockchain, and link all wallet addresses to a unique tax code.
That ways, there is no way anybody can escape the tax net.
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September 24, 2016, 06:32:17 AM
 #13

I thought you would compare the five pund banknote with five Bitcoin banknote.  Grin Just kidding, of course. But speaking of this do you think that it could ever be possible for Bitcoin to be issued in paper banknotes or this would be against all rules for Bitcoin?

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September 24, 2016, 06:47:34 AM
 #14

I saw it on the telly the other day and thought it looked quite pretty. I really do like the colors as well as some banknotes can look really plain and boring. I think it will save the treasury some printing costs as it is more durable than the old ones.
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