a good idea is also to have different colors for different BTC banknotes... 1BTC, 5BTC, 10BTC, 20BTC, 50BTC, 100BTC
Topic: I just made my first Bitcoin ATM withdrawal... 3BTC from my printer. - page 6. (Read 14497 times)
August 08, 2012, 07:26:21 AM
very exciting! want to print out my five 1BTC banknotes soon and put it under the mattress...
a good idea is also to have different colors for different BTC banknotes... 1BTC, 5BTC, 10BTC, 20BTC, 50BTC, 100BTC
a good idea is also to have different colors for different BTC banknotes... 1BTC, 5BTC, 10BTC, 20BTC, 50BTC, 100BTC
August 08, 2012, 06:54:04 AM
The paper note should have smaller tear off strips of different value so as you use it the note gets smaller over time.
You could call them "bits" of paper....
You could call them "bits" of paper....
Not a bad idea. Another idea (unrelated) would be to print a change address QR code on the bill.
This sure is a lot easier than building it's electronic equivalent!
like this idea! imagine you want to go out with your girl and print out before a 10BTC banknote with an individuel change adresse on it. go out to a restaurant, leave blackberry at home, have a good time and leave the 10BTC banknote there. next day the change is on your individual address back and you give the restaurant 5 stars on web and your girl gave you what she want's to give...
August 08, 2012, 06:31:01 AM
The paper note should have smaller tear off strips of different value so as you use it the note gets smaller over time.
You could call them "bits" of paper....
You could call them "bits" of paper....
Not a bad idea. Another idea (unrelated) would be to print a change address QR code on the bill.
This sure is a lot easier than building it's electronic equivalent!
August 08, 2012, 06:07:07 AM
The paper note should have smaller tear off strips of different value so as you use it the note gets smaller over time.
You could call them "bits" of paper....
You could call them "bits" of paper....
August 08, 2012, 05:50:13 AM
i fear you guys got not the point i tried to explain: there exists btc as online money and there could exist btc as offline money like cash. the last thing has to be managed somehow with the first thing in mind.
the third thing is the network which is the foundation of bitcoin. this it where the value comes from...
the third thing is the network which is the foundation of bitcoin. this it where the value comes from...
August 08, 2012, 02:54:15 AM
In a BTC-welcoming restaurant scenario, you are far more likely to receive your change as multiple BTC bills pre-printed by the restaurant in a small denomination conducive to leaving tips, with scratchoffs protecting the private key. Your restaurant receipt will list the firstbits of the change bills that were activated for you as proof that the bills were funded by the waiter before being brought to you.
Or they can make new private key for the change and print it on the receipt.
There is no reason for a restaurant, pub, or any other modern establishment of the sort should be handing back physical Bitcoin change.
August 07, 2012, 08:37:36 PM
In a BTC-welcoming restaurant scenario, you are far more likely to receive your change as multiple BTC bills pre-printed by the restaurant in a small denomination conducive to leaving tips, with scratchoffs protecting the private key. Your restaurant receipt will list the firstbits of the change bills that were activated for you as proof that the bills were funded by the waiter before being brought to you.
Or they can make new private key for the change and print it on the receipt.
Then the waiter can steal it with a camera phone - that is the concern I was looking to address.
August 07, 2012, 08:30:50 PM
In a BTC-welcoming restaurant scenario, you are far more likely to receive your change as multiple BTC bills pre-printed by the restaurant in a small denomination conducive to leaving tips, with scratchoffs protecting the private key. Your restaurant receipt will list the firstbits of the change bills that were activated for you as proof that the bills were funded by the waiter before being brought to you.
Or they can make new private key for the change and print it on the receipt.
August 07, 2012, 04:13:42 PM
So the waiter has plausible deniability if he is faster than you. Anybody in the room could have taken a picture of the receipt while falling out of the printer, spied on the electromagnetic waves the printer produced etc.
(Yes I'm one of those skeptics who think it is a bad idea to print private keys in the first place. Bitcoin are digital money. Printing them is a nice gadget but of no practical relevance in any future I can imagine.)
(Yes I'm one of those skeptics who think it is a bad idea to print private keys in the first place. Bitcoin are digital money. Printing them is a nice gadget but of no practical relevance in any future I can imagine.)
In a BTC-welcoming restaurant scenario, you are far more likely to receive your change as multiple BTC bills pre-printed by the restaurant in a small denomination conducive to leaving tips, with scratchoffs protecting the private key. Your restaurant receipt will list the firstbits of the change bills that were activated for you as proof that the bills were funded by the waiter before being brought to you.
August 07, 2012, 04:07:55 PM
BTC banknotes should be available down to 1 bitcent at the moment it means you can divide a dollar down to 10 cents
Likewise when you're printing them yourself - you can have one for 23 bitcents if you want.
August 07, 2012, 04:07:31 PM
I'm starting to warm up to this. I apologize if kicking at an open door, but private key can in principle be encrypted, and POS infrastructure could be decrypting it, right? The system could be assymetric and involve public key and denomination as seed/salt...? (Haven't thought this through at all)
It could be, but for this purpose it's not encrypted at all.
I actually did make a proposal on the Wiki as to a key/QR code format that is protected with a password. That could be done - in which case you'd hand over the cash and say "the password to my cash is foofoo".
I am not sure it would be very practical, because the purpose of printing the cash is to save transaction time, and if the password is long, you waste any time you saved as the cashier types it, and if the password is short, someone who skims the code could crack it, rendering the protection useless. The most practical remedy may be low-tech: cover the spend code with a small post-it note.
Password-protected cash also increases the training burden on staff who would be employed to accept it, which makes the deal a little more raw for merchants. The more the bills can function like retail gift cards from the perspective of the clerk, the less often you'll run into clerks who have no clue how to accept them.
+1
August 07, 2012, 03:35:06 PM
If you are concerned about the private key, just take your receipt to your table/car and scan it with your phone and move to your own address.
So the waiter has plausible deniability if he is faster than you. Anybody in the room could have taken a picture of the receipt while falling out of the printer, spied on the electromagnetic waves the printer produced etc.
(Yes I'm one of those skeptics who think it is a bad idea to print private keys in the first place. Bitcoin are digital money. Printing them is a nice gadget but of no practical relevance in any future I can imagine.)
i disagree, if you want to have a critical mass using bitcoin you should try to think as the critical mass. humans want to have something in there hands and something what is easy to use. if i got 4 beers in a pub maybe i'm not able to use my mobile anymore...
August 07, 2012, 03:29:50 PM
If you are concerned about the private key, just take your receipt to your table/car and scan it with your phone and move to your own address.
So the waiter has plausible deniability if he is faster than you. Anybody in the room could have taken a picture of the receipt while falling out of the printer, spied on the electromagnetic waves the printer produced etc.
(Yes I'm one of those skeptics who think it is a bad idea to print private keys in the first place. Bitcoin are digital money. Printing them is a nice gadget but of no practical relevance in any future I can imagine.)
August 07, 2012, 03:28:16 PM
BTC banknotes should be available down to 1 bitcent at the moment it means you can divide a dollar down to 10 cents
Likewise when you're printing them yourself - you can have one for 23 bitcents if you want. August 07, 2012, 03:15:06 PM
the private key should be inside of the BTC banknote so if you want to use the amount in the common old way you have to destroy the BTC banknote and then you can use the value as before. but until this you have to use BTC in a common way of a currency.
That's exactly how Casascius Coins work, but then you have to pay extra for the coins plus shipping and wait for them to arrive, which is a disincentive to spending them like cash. Most people buying Casascius Coins are collecting them or using them to promote Bitcoin.
Printing your own bills eliminates the premium cost, the shipping cost, and the shipping wait, at the expense of not having the code covered up. For applications where a covered code isn't necessary, it hits a sweet spot.
Printing the bills and cutting them out takes time and costs money in supplies, but is not bad if you compare it to the time it takes to drive to an ATM and the cost of an ATM fee.
BTW the paper should be a high quality paper like a foil or something like this...
Since the goal is to release the program to the world for free, open-source, you'll be able to print on anything you can shove into the printer.
BTC banknotes should be available down to 1 bitcent at the moment it means you can divide a dollar down to 10 cents
Likewise when you're printing them yourself - you can have one for 23 bitcents if you want. August 07, 2012, 03:02:45 PM
I love the idea of BTC banknotes since I saw the photo from Casascius! but I think we have to make a difference between two worlds. the geek world and the ordinary world. bitcoin until now is a currency for geeks. with this BTC banknotes it can become a currency for ordinary people too. let thinking about cryptography at the geeks and give the rest BTC banknotes... in detail it could be mean this: the private key should be inside of the BTC banknote so if you want to use the amount in the common old way you have to destroy the BTC banknote and then you can use the value as before. but until this you have to use BTC in a common way of a currency.
BTW the paper should be a high quality paper like a foil or something like this...
BTC banknotes should be available down to 1 bitcent at the moment it means you can divide a dollar down to 10 cents
the other question is: is Bitcoin ready for the second storm? if this idea will light up Bitcoin will get much more attention as one year ago... from governments, hackers, all the rest...
only my humble opinion, my intention is to put Bitcoin forward in the way of coming to solutions via swarm intelligence
in detail it could be mean this: the private key should be inside of the BTC banknote so if you want to use the amount in the common old way you have to destroy the BTC banknote and then you can use the value as before. but until this you have to use BTC in a common way of a currency.BTW the paper should be a high quality paper like a foil or something like this...
BTC banknotes should be available down to 1 bitcent at the moment it means you can divide a dollar down to 10 cents
the other question is: is Bitcoin ready for the second storm? if this idea will light up Bitcoin will get much more attention as one year ago... from governments, hackers, all the rest...
only my humble opinion, my intention is to put Bitcoin forward in the way of coming to solutions via swarm intelligence
August 07, 2012, 03:02:18 PM
Definetely the kind of thing you need if you go drinking or to a casino paying with bitcoins.
This way you can bring the amount of money you are willing to risk/spend, and not worry about everything else.
This way you can bring the amount of money you are willing to risk/spend, and not worry about everything else.
August 07, 2012, 02:55:54 PM
I'm starting to warm up to this. I apologize if kicking at an open door, but private key can in principle be encrypted, and POS infrastructure could be decrypting it, right? The system could be assymetric and involve public key and denomination as seed/salt...? (Haven't thought this through at all)
It could be, but for this purpose it's not encrypted at all.
I actually did make a proposal on the Wiki as to a key/QR code format that is protected with a password. That could be done - in which case you'd hand over the cash and say "the password to my cash is foofoo".
I am not sure it would be very practical, because the purpose of printing the cash is to save transaction time, and if the password is long, you waste any time you saved as the cashier types it, and if the password is short, someone who skims the code could crack it, rendering the protection useless. The most practical remedy may be low-tech: cover the spend code with a small post-it note.
Password-protected cash also increases the training burden on staff who would be employed to accept it, which makes the deal a little more raw for merchants. The more the bills can function like retail gift cards from the perspective of the clerk, the less often you'll run into clerks who have no clue how to accept them.
August 07, 2012, 02:45:38 PM
That's awesome! Good for you. Does it work with android, blackberry, iPhone and the rest?
August 07, 2012, 02:43:21 PM
I'm starting to warm up to this. I apologize if kicking at an open door, but private key can in principle be encrypted, and POS infrastructure could be decrypting it, right? The system could be assymetric and involve public key and denomination as seed/salt...? (Haven't thought this through at all)
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