Some thoughts:
Paper currency of all countries is serialized, so this is not limited to the USA, however, some of these serializations can have common "address space" so you may need to designate Billets, Papier Monnaie, Banknoten, Papier Geld, Cartamoneta, Banconota, Shihei, Okane, Banknotai, Popieriniai Pinigai, Banknoty, Bumazhniye Den'gi, Notas de Banco, Papel Moneda, etc.
Check out http://store.banknotes.com/home.php
The risk of using domestic money of the country you are in, is that this can be confused easily or "borrowed" by someone who sees it as a fungible piece of currency. "one dollar bill is as good as another, why are you screaming?"
Foreign currencies are immune from counterfeiting laws as they are legal tender of another geography.
What might be interesting is to take a defunct paper money currency and imbue it with bitcoin value to resurrect it.
Paper currency of all countries is serialized, so this is not limited to the USA, however, some of these serializations can have common "address space" so you may need to designate Billets, Papier Monnaie, Banknoten, Papier Geld, Cartamoneta, Banconota, Shihei, Okane, Banknotai, Popieriniai Pinigai, Banknoty, Bumazhniye Den'gi, Notas de Banco, Papel Moneda, etc.
Check out http://store.banknotes.com/home.php
The risk of using domestic money of the country you are in, is that this can be confused easily or "borrowed" by someone who sees it as a fungible piece of currency. "one dollar bill is as good as another, why are you screaming?"
Foreign currencies are immune from counterfeiting laws as they are legal tender of another geography.
What might be interesting is to take a defunct paper money currency and imbue it with bitcoin value to resurrect it.
Thank you. I believe I have addressed these points in my development which should post in the next day or so. I wish to use US currency ($1 bills specifically) because I want to lean on the counterfeiting security and laws. I wouldn't know how to verify paper rubles, pesos or rupees, or how unique each bill is. It would take huge balls for someone to knowingly counterfeit a FRN and send it through the US mail system. I have stickers that one can "paperclip" to a bill, to set it apart from one another (I don't suggest defacing US currency
).Looks like my fears are a bit overblown, I would technically have custody of other's BTC and promise to redeem upon demand. This doesn't have much legal risk, at least on a small scale?