Quote from: chaoscoinz on December 10, 2019, 12:54:19 PM

Quote from: Techviking on December 10, 2019, 12:35:36 AM

I'm working on an idea and it might sound a bit far-fetched but it is a 'virtual currency' made to be stored offline much like a paper wallet. But I'm not storing any bitcoin private key. I'm creating what is called a ticket. Each ticket has a unique set of codes and the whole idea is that it must be easy for people to write down these codes so you can create your own set of money or complementary currency. A long story short, my plan is to use Bitcoin as an "intrinsic value". Since the whole point of this project is mimicking physical cash in a cashless society Shocked

it can't be backed by fiat.

Another point to make is that the idea is that small or large communities can run their own server backing their 'community currency' and it doesn't have to be that powerful. It is not a decentralized solution, so it will be built on trust, but there is no way to trace or log transactions, just like cash.
I'm currently running in beta ( 52blocks.net ) with focus on testing it out and doing hand-to-hand transactions. But in near future I'll add some new features .
My current issue is how to give each ticket it's own value. I would like to hear your opinions on this project and what would be the best way of assigning value by using bitcoin.
As a community currency you don't need to trade your ticket for bitcoin for each transaction, but if you don't want to create your own set of cash, you can burn a ticket for a new one and also (in the future) collect it's value ..

[Disclaimer] "My post does not constitute legal or financial advice. I am not a lawyer or financial advisor. I am here just to post my opinion about the topic of this thread. If seeking legal or financial advice, please consult with your local professional."

Of my opinion (just a regular joe) . . .

This sounds highly illegal, it may be wise to consult with your local lawyer/legal advisory first in order to check if your potentially putting yourself within violation of your countries financial laws. It could be extremely illegal to mint paper/metal/physical money without some sort of license and permission from your government or whomever controls your countries financial system. Maybe write to your local Congressman, or government agency? Perhaps contact your country's treasury department?
Whichever route taken, be sure to practice your Due Dillgence first!

Good point Shocked

. That is why I emphasise on community currency, complementary currency or even private currency. As I understand it complementary currency is legal forms of exchange. Mimicking paper money is an allegory of the features paper money holds. And that has been my main focus. The technology side of it. If people have some more opinions on this, that would be great.