Decentralized cash

[Julien_Olynpic]

This is a translation of the original article located here:

        https://bitcointalk.org/index.php?topic=2388486.120         

I always liked cash. That is, paper (bills, banknotes) and metal (coins). And I look with sadness at the demonetization processes occurring in the world - India, Europe. It's a pity if this process gets to us. It would be great if in the future there were cash that the state could not demonetize. Decentralized physical cash. They could be decentralized by various organizations scattered throughout the world. A certain detailed protocol could regulate their release. And people guided by the provisions of this protocol. The modern development of printing business allows you to make bills durable and protected from counterfeiting. Cash is anonymous by nature. They do not need miners and blockchains. They are nice to have.
         I believe in the possibility of a non-blockchased regulation of the circulation of physical cash. First of all paper banknotes. More precisely, not quite as it were, and only paper ones. Metallized, interspersed with plastic, new levels of protection. Possibly with imprinted microchips. Such, you understand, smart notes. Moreover, the cost of a fake should preferably be above par.
              But there are some difficulties. Protection against fakes. This already implies a high level of printing quality, unattainable at home. Quality comparable to the quality of modern banknotes. They simply can not be printed at home in this quality. And if it were possible, then fakes would go. Secondly, the issue of these banknotes should obey a specific protocol, law, algorithm, if you want. So the people issuing the emission must be in some way licensed.
           Bitcoin paper wallets are not cash, nor are bitcoins themselves in any form. Real cash — that is, ordinary banknotes (bills) and coins — is reusable. They can pay until they are decayed. They can be operated without any electronic infrastructure, in contrast to non-cash Fiat and Bitcoins.
          Why do so many people cash out their plastic cards? Maybe because they consider cash a convenient and safe means of payment, exchange and preservation of value? Firstly, cash is protected from the technological risks of using non-cash money. They can be used directly without electronic infrastructure. They can not be organized attack 51, spam, sibyl, etc. They can not do hardfork. Secondly, they are easy to use. Thirdly, they are more convenient in many cases. No need to puzzle over the preservation of private keys, passwords, encrypt secret data. No need to follow the updates of all kinds of BIPs. No need to think about the formats of addresses, private keys ... just like all brilliant. They can simply be buried in the garden, in contrast to non-cash Fiat.
           The paper money you use today is completely protected. You can devalue the re-release of any money, even though physical, even virtual; it all depends on the emission algorithm and control over it. Gold and gold coins are still a special form of decentralized - centralized money. Internationally, only gold is decentralized as such (ingots or, ideally, golden sand) - i.e. impersonal from coin forms; on the scale of each country the turnover of gold in general, and especially of gold coins, was centralized. In general, gold has many forms, each of which is an independent phenomenon. About the paper easier. It can always be said that this money is not real, that they are not worth confiscating.
          I think that sooner or later law-abiding people will understand that centralized money is something that they do not fully own. At any time, the state can freeze them, devalue them, exchange them at a ratio of 10 to 1 in their favor, demand that they prove that you are not a camel or a terrorist, etc. in the same vein.
         As for the authenticity check of the bill, there are really many options. And, in fact, many options to ensure the authenticity of the bill. In general, I consider the bill a brilliant invention. Here it is necessary to clarify what exactly is the protection of the authenticity of the bill, what material mechanism acts as its guarantor. If that of the options that I originally had in mind - high printing protection - then the bill itself is the carrier of authenticity. That is, a piece of paper with all sorts of threads imprinted in it, perforations, watermarks, modulations, etc., etc.
         By the way, fiat money - since it is constantly printed - is to a certain extent “indifferent” to a fake. There is no tragedy if even someone prints money a little more) The main thing is not on an industrial scale. The fight should be directed at this.
(Actually, the state deals only with this, which, in fact, “forges” its own money.).

[charlotte04]

This is a translation of the original article located here:

        https://bitcointalk.org/index.php?topic=2388486.120         

I always liked cash. That is, paper (bills, banknotes) and metal (coins). And I look with sadness at the demonetization processes occurring in the world - India, Europe. It's a pity if this process gets to us. It would be great if in the future there were cash that the state could not demonetize. Decentralized physical cash. They could be decentralized by various organizations scattered throughout the world. A certain detailed protocol could regulate their release. And people guided by the provisions of this protocol. The modern development of printing business allows you to make bills durable and protected from counterfeiting. Cash is anonymous by nature. They do not need miners and blockchains. They are nice to have.
         I believe in the possibility of a non-blockchased regulation of the circulation of physical cash. First of all paper banknotes. More precisely, not quite as it were, and only paper ones. Metallized, interspersed with plastic, new levels of protection. Possibly with imprinted microchips. Such, you understand, smart notes. Moreover, the cost of a fake should preferably be above par.
              But there are some difficulties. Protection against fakes. This already implies a high level of printing quality, unattainable at home. Quality comparable to the quality of modern banknotes. They simply can not be printed at home in this quality. And if it were possible, then fakes would go. Secondly, the issue of these banknotes should obey a specific protocol, law, algorithm, if you want. So the people issuing the emission must be in some way licensed.
           Bitcoin paper wallets are not cash, nor are bitcoins themselves in any form. Real cash — that is, ordinary banknotes (bills) and coins — is reusable. They can pay until they are decayed. They can be operated without any electronic infrastructure, in contrast to non-cash Fiat and Bitcoins.
          Why do so many people cash out their plastic cards? Maybe because they consider cash a convenient and safe means of payment, exchange and preservation of value? Firstly, cash is protected from the technological risks of using non-cash money. They can be used directly without electronic infrastructure. They can not be organized attack 51, spam, sibyl, etc. They can not do hardfork. Secondly, they are easy to use. Thirdly, they are more convenient in many cases. No need to puzzle over the preservation of private keys, passwords, encrypt secret data. No need to follow the updates of all kinds of BIPs. No need to think about the formats of addresses, private keys ... just like all brilliant. They can simply be buried in the garden, in contrast to non-cash Fiat.
           The paper money you use today is completely protected. You can devalue the re-release of any money, even though physical, even virtual; it all depends on the emission algorithm and control over it. Gold and gold coins are still a special form of decentralized - centralized money. Internationally, only gold is decentralized as such (ingots or, ideally, golden sand) - i.e. impersonal from coin forms; on the scale of each country the turnover of gold in general, and especially of gold coins, was centralized. In general, gold has many forms, each of which is an independent phenomenon. About the paper easier. It can always be said that this money is not real, that they are not worth confiscating.
          I think that sooner or later law-abiding people will understand that centralized money is something that they do not fully own. At any time, the state can freeze them, devalue them, exchange them at a ratio of 10 to 1 in their favor, demand that they prove that you are not a camel or a terrorist, etc. in the same vein.
         As for the authenticity check of the bill, there are really many options. And, in fact, many options to ensure the authenticity of the bill. In general, I consider the bill a brilliant invention. Here it is necessary to clarify what exactly is the protection of the authenticity of the bill, what material mechanism acts as its guarantor. If that of the options that I originally had in mind - high printing protection - then the bill itself is the carrier of authenticity. That is, a piece of paper with all sorts of threads imprinted in it, perforations, watermarks, modulations, etc., etc.
         By the way, fiat money - since it is constantly printed - is to a certain extent “indifferent” to a fake. There is no tragedy if even someone prints money a little more) The main thing is not on an industrial scale. The fight should be directed at this.
(Actually, the state deals only with this, which, in fact, “forges” its own money.).

I think having a decentralize cash would have its downside and upside because the fact that the Government will be no longer can control it then maybe people will recklessly use it.

[Pab]

Decentralize cash is nice idea but how it can be done
Money is just a money everything can be money but in a case of cash there is some issuer
People are withdrawing cash from cards because there is still many places where there is possible to pay with cash only and because they are afraid that electronic transactions can be blocked or not to work

In my country many banks have some works with servers during weekend and nothing work so it is always wise to have some cash in pocket 

[tenakha]

Decentralized cash will not be allowed. If they can use the central currency as they wish, you can think about what they can do with decetralized currency and cause a major economic crisis. Consider how much the total supply will be. Not only governments, people will also be a counterfeiter. The whole world will be like Venezuela. No one will know what the value of money is.

[Julien_Olynpic]

Decentralized cash will not be allowed. If they can use the central currency as they wish, you can think about what they can do with decetralized currency and cause a major economic crisis. Consider how much the total supply will be. Not only governments, people will also be a counterfeiter. The whole world will be like Venezuela. No one will know what the value of money is.

The problem of protecting cash from counterfeiting? I do not think this is an unsolvable problem. Even if we solve it in a decentralized way. Also in my opinion is not a problem the protection of such money from the prohibitions of national governments. Printing technology has stepped far forward. We can quite let out paper, highly protected from a fake.
         Just need a consensus and a kind of decentralized emission centers (possibly secret).

[Ozero]

I don't think that legal decentralized cash is possible. Think about what this means. This is paper money printed by someone that does not belong to anyone, that is, they do not have a single control center. If you release your money, they will already be centralized, since you will have the opportunity to intervene in the process of their release. Periodically, it will be necessary to reprint them, since paper money has a limited shelf life. Therefore, the idea of ​​decentralized paper money is not feasible.
In addition, I think that no state will allow the circulation of such money on its territory. And the last thing: if they are not provided with anything, who will need them?

[Dimon8]

Cash cannot be decentralized because it was originally invented and tied to a particular place (city, country, empire). If a decentralized cash currency is ever introduced into worldwide use, then it will be governed by a single, single-center global government.

[davis196]

Decentralized cash sounds like nonsense to me.If I create and print my own paper money and I say that they have value equal to the US dollar,that would be total madness.What if thousands or even millions of people start priniting their own paper money?What if all those paper money get faked all the time?That's why decentralized cash just won't work.

[dothebeats]

With the concept of a decentralized cash, almost everyone can create cash out of nowhere and no one will bat an eye. Also, it wouldn't be allowed knowing that the chances of a counterfeit cash is high, and there will be no governing body limiting and regulating the production of the decentralized cash. This concept and idea is far from what bitcoin is since, at the least, bitcoin holds cryptographic proof that what it produced is one of a kind and cannot be counterfeited since the network doesn't allow it.

This will never come to fruition albeit the convenience it could potentially bring to many people.

[timerland]

They could be decentralized by various organizations scattered throughout the world.

I don't think that this is something that is realistic, at all.

Firstly, you have to understand that this is not something that is decentralized and any one of these organizations could possibly go rogue and print more currency than necessary, encounter security issues with counterfeiting, become corrupt, etc. This is as opposed to cryptocurrencies which are decentralized because of code, and a single entity never has the right to print more bitcoin at will.

Also, who's to say that these notes will have value? I doubt that people would place the same trust in them as they would in bitcoin due to the fact that they're not as decentralized at all. Besides, governments would surely crack down on these organizations, seizing the assets of these places potentially.

[ShadowBits]

This is a translation of the original article located here:

        https://bitcointalk.org/index.php?topic=2388486.120         

I always liked cash. That is, paper (bills, banknotes) and metal (coins). And I look with sadness at the demonetization processes occurring in the world - India, Europe. It's a pity if this process gets to us. It would be great if in the future there were cash that the state could not demonetize. Decentralized physical cash. They could be decentralized by various organizations scattered throughout the world. A certain detailed protocol could regulate their release. And people guided by the provisions of this protocol. The modern development of printing business allows you to make bills durable and protected from counterfeiting. Cash is anonymous by nature. They do not need miners and blockchains. They are nice to have.
         I believe in the possibility of a non-blockchased regulation of the circulation of physical cash. First of all paper banknotes. More precisely, not quite as it were, and only paper ones. Metallized, interspersed with plastic, new levels of protection. Possibly with imprinted microchips. Such, you understand, smart notes. Moreover, the cost of a fake should preferably be above par.
              But there are some difficulties. Protection against fakes. This already implies a high level of printing quality, unattainable at home. Quality comparable to the quality of modern banknotes. They simply can not be printed at home in this quality. And if it were possible, then fakes would go. Secondly, the issue of these banknotes should obey a specific protocol, law, algorithm, if you want. So the people issuing the emission must be in some way licensed.
           Bitcoin paper wallets are not cash, nor are bitcoins themselves in any form. Real cash — that is, ordinary banknotes (bills) and coins — is reusable. They can pay until they are decayed. They can be operated without any electronic infrastructure, in contrast to non-cash Fiat and Bitcoins.
          Why do so many people cash out their plastic cards? Maybe because they consider cash a convenient and safe means of payment, exchange and preservation of value? Firstly, cash is protected from the technological risks of using non-cash money. They can be used directly without electronic infrastructure. They can not be organized attack 51, spam, sibyl, etc. They can not do hardfork. Secondly, they are easy to use. Thirdly, they are more convenient in many cases. No need to puzzle over the preservation of private keys, passwords, encrypt secret data. No need to follow the updates of all kinds of BIPs. No need to think about the formats of addresses, private keys ... just like all brilliant. They can simply be buried in the garden, in contrast to non-cash Fiat.
           The paper money you use today is completely protected. You can devalue the re-release of any money, even though physical, even virtual; it all depends on the emission algorithm and control over it. Gold and gold coins are still a special form of decentralized - centralized money. Internationally, only gold is decentralized as such (ingots or, ideally, golden sand) - i.e. impersonal from coin forms; on the scale of each country the turnover of gold in general, and especially of gold coins, was centralized. In general, gold has many forms, each of which is an independent phenomenon. About the paper easier. It can always be said that this money is not real, that they are not worth confiscating.
          I think that sooner or later law-abiding people will understand that centralized money is something that they do not fully own. At any time, the state can freeze them, devalue them, exchange them at a ratio of 10 to 1 in their favor, demand that they prove that you are not a camel or a terrorist, etc. in the same vein.
         As for the authenticity check of the bill, there are really many options. And, in fact, many options to ensure the authenticity of the bill. In general, I consider the bill a brilliant invention. Here it is necessary to clarify what exactly is the protection of the authenticity of the bill, what material mechanism acts as its guarantor. If that of the options that I originally had in mind - high printing protection - then the bill itself is the carrier of authenticity. That is, a piece of paper with all sorts of threads imprinted in it, perforations, watermarks, modulations, etc., etc.
         By the way, fiat money - since it is constantly printed - is to a certain extent “indifferent” to a fake. There is no tragedy if even someone prints money a little more) The main thing is not on an industrial scale. The fight should be directed at this.
(Actually, the state deals only with this, which, in fact, “forges” its own money.).

Having a decentralize cash can be exciting since you don't need a 3rd person to make a deal to your main person, but for now, FIAT is still valuable to many people.

[Julien_Olynpic]

This is a translation of the original article located here:

        https://bitcointalk.org/index.php?topic=2388486.120         

I always liked cash. That is, paper (bills, banknotes) and metal (coins). And I look with sadness at the demonetization processes occurring in the world - India, Europe. It's a pity if this process gets to us. It would be great if in the future there were cash that the state could not demonetize. Decentralized physical cash. They could be decentralized by various organizations scattered throughout the world. A certain detailed protocol could regulate their release. And people guided by the provisions of this protocol. The modern development of printing business allows you to make bills durable and protected from counterfeiting. Cash is anonymous by nature. They do not need miners and blockchains. They are nice to have.
         I believe in the possibility of a non-blockchased regulation of the circulation of physical cash. First of all paper banknotes. More precisely, not quite as it were, and only paper ones. Metallized, interspersed with plastic, new levels of protection. Possibly with imprinted microchips. Such, you understand, smart notes. Moreover, the cost of a fake should preferably be above par.
              But there are some difficulties. Protection against fakes. This already implies a high level of printing quality, unattainable at home. Quality comparable to the quality of modern banknotes. They simply can not be printed at home in this quality. And if it were possible, then fakes would go. Secondly, the issue of these banknotes should obey a specific protocol, law, algorithm, if you want. So the people issuing the emission must be in some way licensed.
           Bitcoin paper wallets are not cash, nor are bitcoins themselves in any form. Real cash — that is, ordinary banknotes (bills) and coins — is reusable. They can pay until they are decayed. They can be operated without any electronic infrastructure, in contrast to non-cash Fiat and Bitcoins.
          Why do so many people cash out their plastic cards? Maybe because they consider cash a convenient and safe means of payment, exchange and preservation of value? Firstly, cash is protected from the technological risks of using non-cash money. They can be used directly without electronic infrastructure. They can not be organized attack 51, spam, sibyl, etc. They can not do hardfork. Secondly, they are easy to use. Thirdly, they are more convenient in many cases. No need to puzzle over the preservation of private keys, passwords, encrypt secret data. No need to follow the updates of all kinds of BIPs. No need to think about the formats of addresses, private keys ... just like all brilliant. They can simply be buried in the garden, in contrast to non-cash Fiat.
           The paper money you use today is completely protected. You can devalue the re-release of any money, even though physical, even virtual; it all depends on the emission algorithm and control over it. Gold and gold coins are still a special form of decentralized - centralized money. Internationally, only gold is decentralized as such (ingots or, ideally, golden sand) - i.e. impersonal from coin forms; on the scale of each country the turnover of gold in general, and especially of gold coins, was centralized. In general, gold has many forms, each of which is an independent phenomenon. About the paper easier. It can always be said that this money is not real, that they are not worth confiscating.
          I think that sooner or later law-abiding people will understand that centralized money is something that they do not fully own. At any time, the state can freeze them, devalue them, exchange them at a ratio of 10 to 1 in their favor, demand that they prove that you are not a camel or a terrorist, etc. in the same vein.
         As for the authenticity check of the bill, there are really many options. And, in fact, many options to ensure the authenticity of the bill. In general, I consider the bill a brilliant invention. Here it is necessary to clarify what exactly is the protection of the authenticity of the bill, what material mechanism acts as its guarantor. If that of the options that I originally had in mind - high printing protection - then the bill itself is the carrier of authenticity. That is, a piece of paper with all sorts of threads imprinted in it, perforations, watermarks, modulations, etc., etc.
         By the way, fiat money - since it is constantly printed - is to a certain extent “indifferent” to a fake. There is no tragedy if even someone prints money a little more) The main thing is not on an industrial scale. The fight should be directed at this.
(Actually, the state deals only with this, which, in fact, “forges” its own money.).

Having a decentralize cash can be exciting since you don't need a 3rd person to make a deal to your main person, but for now, FIAT is still valuable to many people.

Yes, it is really exciting) Sooner or later it will happen. People think that the main problem is protection against fakes and state control, but this is not so. The main problem is our imagination.

[wahyu wida]

This is a translation of the original article located here:

        https://bitcointalk.org/index.php?topic=2388486.120         

I always liked cash. That is, paper (bills, banknotes) and metal (coins). And I look with sadness at the demonetization processes occurring in the world - India, Europe. It's a pity if this process gets to us. It would be great if in the future there were cash that the state could not demonetize. Decentralized physical cash. They could be decentralized by various organizations scattered throughout the world. A certain detailed protocol could regulate their release. And people guided by the provisions of this protocol. The modern development of printing business allows you to make bills durable and protected from counterfeiting. Cash is anonymous by nature. They do not need miners and blockchains. They are nice to have.
         I believe in the possibility of a non-blockchased regulation of the circulation of physical cash. First of all paper banknotes. More precisely, not quite as it were, and only paper ones. Metallized, interspersed with plastic, new levels of protection. Possibly with imprinted microchips. Such, you understand, smart notes. Moreover, the cost of a fake should preferably be above par.
              But there are some difficulties. Protection against fakes. This already implies a high level of printing quality, unattainable at home. Quality comparable to the quality of modern banknotes. They simply can not be printed at home in this quality. And if it were possible, then fakes would go. Secondly, the issue of these banknotes should obey a specific protocol, law, algorithm, if you want. So the people issuing the emission must be in some way licensed.
           Bitcoin paper wallets are not cash, nor are bitcoins themselves in any form. Real cash — that is, ordinary banknotes (bills) and coins — is reusable. They can pay until they are decayed. They can be operated without any electronic infrastructure, in contrast to non-cash Fiat and Bitcoins.
          Why do so many people cash out their plastic cards? Maybe because they consider cash a convenient and safe means of payment, exchange and preservation of value? Firstly, cash is protected from the technological risks of using non-cash money. They can be used directly without electronic infrastructure. They can not be organized attack 51, spam, sibyl, etc. They can not do hardfork. Secondly, they are easy to use. Thirdly, they are more convenient in many cases. No need to puzzle over the preservation of private keys, passwords, encrypt secret data. No need to follow the updates of all kinds of BIPs. No need to think about the formats of addresses, private keys ... just like all brilliant. They can simply be buried in the garden, in contrast to non-cash Fiat.
           The paper money you use today is completely protected. You can devalue the re-release of any money, even though physical, even virtual; it all depends on the emission algorithm and control over it. Gold and gold coins are still a special form of decentralized - centralized money. Internationally, only gold is decentralized as such (ingots or, ideally, golden sand) - i.e. impersonal from coin forms; on the scale of each country the turnover of gold in general, and especially of gold coins, was centralized. In general, gold has many forms, each of which is an independent phenomenon. About the paper easier. It can always be said that this money is not real, that they are not worth confiscating.
          I think that sooner or later law-abiding people will understand that centralized money is something that they do not fully own. At any time, the state can freeze them, devalue them, exchange them at a ratio of 10 to 1 in their favor, demand that they prove that you are not a camel or a terrorist, etc. in the same vein.
         As for the authenticity check of the bill, there are really many options. And, in fact, many options to ensure the authenticity of the bill. In general, I consider the bill a brilliant invention. Here it is necessary to clarify what exactly is the protection of the authenticity of the bill, what material mechanism acts as its guarantor. If that of the options that I originally had in mind - high printing protection - then the bill itself is the carrier of authenticity. That is, a piece of paper with all sorts of threads imprinted in it, perforations, watermarks, modulations, etc., etc.
         By the way, fiat money - since it is constantly printed - is to a certain extent “indifferent” to a fake. There is no tragedy if even someone prints money a little more) The main thing is not on an industrial scale. The fight should be directed at this.
(Actually, the state deals only with this, which, in fact, “forges” its own money.).

Having a decentralize cash can be exciting since you don't need a 3rd person to make a deal to your main person, but for now, FIAT is still valuable to many people.

right, I think this is just a system problem. but I can't imagine the future. because to use a decentralized system, government issued its own digital currency, so I don't think it is a fiat currency