Since these notes have to be redeemed immediately the number of use cases seems limited. I can't really just hand someone the note and walk away because they have to scan it to see if it is actually valid. Otherwise someone could just pass fake notes if they felt the recipient wouldn't redeem them on the spot. This doesn't seem like an improvement over just sending the coins via phone.

The use case with poor internet connection wouldn't work as well since, presumably, the recipient would also have poor reception and couldn't verify the note was actually loaded with bitcoins.

Also, I REALLY don't like the name bit reserve.

-Chris

On 05/17/2014 11:31 AM, Jerry Felix wrote:
It seems to me that there's a huge need for a paper currency that is counterfeit-resistant, inexpensive to print, internationally recognized (border-less), fits in a wallet, and machine readable.

I pitched this idea at the Cincinnati Bitcoin meetup last week, and I didn't get thrown out, so I took the time to document a proposed standard to accomplish this.  I've put my ideas into BIP format, so that you can see what I have in mind, although I picked some
BIP numbers myself that seem to be available.  Call them "proposed proposals", or "provisional BIPs".  I've numbered them provisionally BIP-80 to BIP-84.

If you guys think that this idea has some merit, let's discuss.

https://github.com/jerfelix/provisional_bips/blob/master/README.mediawiki

Submitted with humility and some fear of getting laughed out of here...
- Jerry




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