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Author Topic: printing bitcoins on Dollarnotes for offline using  (Read 1601 times)
bitcoin2
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January 25, 2011, 12:02:50 AM
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We could sign the serial number of a 1 Dollar-note together with the value of the bitdollar and maybe a expiry date and print this signature as qr-code on the dollar-note. Everybody could check this signature offline with an android phone. This should keep someone from faking the BitDollar. The private key could be printing as qr-code under a scratch field on the bitdollar. Or without private key and scratch field, the bidDollar should only convert online in real Bitcoin after the expire date (to prevent double spending).
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jwalck
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January 25, 2011, 12:19:51 AM
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Most "normal" currencies try to go to less cash, more digital currency. This is problematic because it make all transactions trackable and possible to analyze. Bitcoin is very very good for not having this issue at all, and still being digital (doesn't require any physical note or coin to be used).

With the upcoming years, new systems for paying easily digitally where you earlier used coins and note will appear (see tests with NFC and similar technologies, in mobile phones and similar) for the traditional currencies. The same route could be used for bitcoin, printing bitcoins won't be necessary. I think Hand-to-hand / AFK transactions can be simplified better in other ways.

And if I understand you correctly tieing the value of a bitdollar to another currency? This is not wanted, especially not if it is the US lollar because that one is going down way too quickly.Smiley
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January 25, 2011, 12:36:25 AM
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And if I understand you correctly tieing the value of a bitdollar to another currency? This is not wanted, especially not if it is the US lollar because that one is going down way too quickly.Smiley

No, the dollar-note is only the paper to print the bitcoin-wallet on because everybody knows the Safety Features of the dollar notes. If the inflation of the us-dollar is coming, we have cheap print paper for our bitcoins :-)
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January 25, 2011, 12:40:58 AM
 #4

You should be careful doing that. The men with guns dont like you tampering with their property.

Better to design something that doesnt have anything to do with federal reserve notes.


Printing coin value onto a paper would be good for permanent storage. After all how long do computers last?
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January 25, 2011, 12:45:42 AM
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No, the dollar-note is only the paper to print the bitcoin-wallet on because everybody knows the Safety Features of the dollar notes. If the inflation of the us-dollar is coming, we have cheap print paper for our bitcoins :-)

It's possible to give someone your private keys either by sending them a wallet file or by writing them down. The problem is that unless you do a transaction through the network double spends are possible. This means writing down the info essentially makes it a check not cash, because you have to trust that the funds will still be there when you try to use it. You can't pass these notes on over and over since you would have to trust everyone who had seen it. So really it's even less secure than a check.

I don't mean there isn't potentially some solution, only that the obvious way to do it results in insecure checks, not cash.

Oh, and don't do anything with regular dollars. It's weird, confusing and not helpful to your goal here.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
bitcoin2
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January 25, 2011, 01:02:32 AM
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It's possible to give someone your private keys either by sending them a wallet file or by writing them down. The problem is that unless you do a transaction through the network double spends are possible. This means writing down the info essentially makes it a check not cash, because you have to trust that the funds will still be there when you try to use it. You can't pass these notes on over and over since you would have to trust everyone who had seen it. So really it's even less secure than a check.

I don't mean there isn't potentially some solution, only that the obvious way to do it results in insecure checks, not cash.

Oh, and don't do anything with regular dollars. It's weird, confusing and not helpful to your goal here.

Only the issuer of the BitDollar are able to double spend because the private key is under a scratch field (if the scratch field is destroyed the BitDollar is not valid) or the private key is in a database from the issuer.

If I worked for my money it belongs to me and I can make with it what ever I want, its only paper isn't it?
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January 25, 2011, 01:16:06 AM
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writing on usddollar:
http://www.freelawanswer.com/law/1543-law-4.html

http://en.wikipedia.org/wiki/Where%27s_George%3F

Maybe it is a bad idea to make this on usd-notes. Maybe we could take 5 euro banknotes.
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January 25, 2011, 03:44:09 AM
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It's possible to give someone your private keys either by sending them a wallet file or by writing them down. The problem is that unless you do a transaction through the network double spends are possible. This means writing down the info essentially makes it a check not cash, because you have to trust that the funds will still be there when you try to use it. You can't pass these notes on over and over since you would have to trust everyone who had seen it. So really it's even less secure than a check.

I don't mean there isn't potentially some solution, only that the obvious way to do it results in insecure checks, not cash.

Oh, and don't do anything with regular dollars. It's weird, confusing and not helpful to your goal here.

Only the issuer of the BitDollar are able to double spend because the private key is under a scratch field (if the scratch field is destroyed the BitDollar is not valid) or the private key is in a database from the issuer.

If I worked for my money it belongs to me and I can make with it what ever I want, its only paper isn't it?


You can do what ever the hell you want. It was only advice.

I'm trying to get away from government money and I think other bitcoin users are too.

Maybe I'm just not understanding the benefit of combining the good with the bad here though.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
genjix
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January 25, 2011, 12:18:42 PM
 #9

yeah. if you need cash then buy cash but must of us dont want to rely on it as much as possible
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