- This topic has 6 replies, 1 voice, and was last updated 1 week, 1 day ago by Leading_Zeros.
- Thursday, September 22nd, 2022 at 21:51 #380213ComplexitasParticipant
If the world adapted bitcoin and bitcoin only it would no longer be possible to through cash on a stripper. So I think what we would be necessary in a world in which Bicoin had replaced all other currencies that Banks could issue their own paper currencies that one could go to the bank and exchange for bitcoin. What do you think?Thursday, September 22nd, 2022 at 21:54 #380214Mr_P_Nissaurus
Whenever the money is “notes” claiming to be backed by something, you know that money is a scam.Thursday, September 22nd, 2022 at 22:11 #380215Ok_Aerie3546
Why not? Fedimint is exactly that.
Not “paper currency” but tokens can be exchanged within a federation for free. And all those tokens are backed by bitcoin, that get redeemed into real bitcoin when moving between federations.Thursday, September 22nd, 2022 at 22:28 #380216bitsteiner
Yes, but it would be trusted money only (counter party risk). Just print a private key with some funds on its address on a piece of paper and you have a Bitcoin note.Thursday, September 22nd, 2022 at 22:37 #380217Capivara_Selvagem
Yeah, it is more practical for daily use, perhaps.
At the end of the day, if you want to use the base layer, it will be there. That is what counts.Friday, September 23rd, 2022 at 00:30 #380218HonestWorld
You can write the 12 words seed and throw it to a stripperFriday, September 23rd, 2022 at 00:45 #380219Leading_Zeros
Sure, paper money only has value if it’s backed by something. That something use to be gold, but no reason it can’t be a truly hard asset like bitcoin.
Even better solution is paper notes with real bitcoin embedded in it:
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