5 ms·

Its very cool, it looks like it would have tonnes of use's assuming there isn't a lower tech method of emulating a similar effect. Counterfeit cash only has to

Its very cool, it looks like it would have tonnes of use's assuming there isn't a lower tech method of emulating a similar effect. Counterfeit cash only has to be good enough to trick a human. It is for this reason that I don't think it would be too long before counterfeiters found a cheap low tech method of creating a similar looking effect.

Jach 15y ago
Let's also remember that it's not incredibly hard to trick a human. (One of my favorite videos related to counterfeit currency is Derren Brown paying for things with blank paper http://www.youtube.com/watch?v=3Vz_YTNLn6w http://www.youtube.com/watch?v=3Vz_YTNLn6w (And if you think he faked it, he's still managed to trick a lot of other people otherwise.)) I wonder how much in total method after method of trying to stay ahead of the Big Money counterfeiters has cost? Mathematical solutions to the problem of forgery have existed for quite a while, I wish there was more a push for those. (And I'm not necessarily talking about bitcoin either, it's just one of many possibilities.) Of course even just going digital for everything would probably solve a lot of problems, and there are math solutions to keeping different types of anonymity as well.
cmarshall 15y ago
The polymer notes[1] we use in Australia (and also print for several other countries) have been around for about 18 years now and have very low rates of counterfeiting due to the number of security features built in[2]. The notes do cost more to produce, but the extra durability means that they last about 4 times as long (from memory) in circulation, so overall the cost difference is marginal for the government, but is an additional deterrent for counterfeiters. [1] http://en.wikipedia.org/wiki/Polymer_banknote http://en.wikipedia.org/wiki/Polymer_banknote [2] http://www.rba.gov.au/banknotes/counterfeit/index.html http://www.rba.gov.au/banknotes/counterfeit/index.html
- GFischer 15y ago
  I fell for a fake Polymer banknote while on holidays in Brazil (the same Ten Reais banknote seen on Wikipedia). As the top post said, it only needs to fool a human, not be perfect.
- eli 15y ago
  I just read an interesting article about Canada borrowing the polymer from the Australia. I didn't realize that until very recently, Canada had a really serious counterfeiting problem. http://www.theglobeandmail.com/report-on-business/economy/currencies/funny-money-how-counterfeiting-led-to-a-major-overhaul-of-canadas-money/article2258968/singlepage/#articlecontent http://www.theglobeandmail.com/report-on-business/economy/cu...
- mattwdelong 15y ago
  I just received a polymer $100CAD bill the other day, I thought it was pretty bad ass. I had no clue that it was produced in Australia, and that this technology has been in circulation for a couple decades. I do notice that when I had the when the bill was in my wallet that has a money clip (I hate big wallets), and when sat on, it produced a visible crease that's not as prevalent in the fiber notes along side it. Overall, I do see it as being more durable.
- anamax 15y ago
  > have very low rates of counterfeiting due to the number of security features built in Is it the security measures, or does the (relatively) small number of places where one can pass Australian currency result in fewer attempts? US currency is somewhat familiar in a large number of countries, so there are lots of opportunities to get someone to take counterfeits.
dalore 15y ago
I read the article and they said they could even put watermarks that human can't see, only machines. Shops are already employing UV lights to check currency so I would imagine they would get something that could check for the invisible watermark.

Jach 15y ago

Let's also remember that it's not incredibly hard to trick a human. (One of my favorite videos related to counterfeit currency is Derren Brown paying for things with blank paper http://www.youtube.com/watch?v=3Vz_YTNLn6w http://www.youtube.com/watch?v=3Vz_YTNLn6w (And if you think he faked it, he's still managed to trick a lot of other people otherwise.)) I wonder how much in total method after method of trying to stay ahead of the Big Money counterfeiters has cost? Mathematical solutions to the problem of forgery have existed for quite a while, I wish there was more a push for those. (And I'm not necessarily talking about bitcoin either, it's just one of many possibilities.) Of course even just going digital for everything would probably solve a lot of problems, and there are math solutions to keeping different types of anonymity as well.

cmarshall 15y ago

The polymer notes[1] we use in Australia (and also print for several other countries) have been around for about 18 years now and have very low rates of counterfeiting due to the number of security features built in[2]. The notes do cost more to produce, but the extra durability means that they last about 4 times as long (from memory) in circulation, so overall the cost difference is marginal for the government, but is an additional deterrent for counterfeiters. [1] http://en.wikipedia.org/wiki/Polymer_banknote http://en.wikipedia.org/wiki/Polymer_banknote [2] http://www.rba.gov.au/banknotes/counterfeit/index.html http://www.rba.gov.au/banknotes/counterfeit/index.html

GFischer 15y ago
I fell for a fake Polymer banknote while on holidays in Brazil (the same Ten Reais banknote seen on Wikipedia). As the top post said, it only needs to fool a human, not be perfect.
eli 15y ago
I just read an interesting article about Canada borrowing the polymer from the Australia. I didn't realize that until very recently, Canada had a really serious counterfeiting problem. http://www.theglobeandmail.com/report-on-business/economy/currencies/funny-money-how-counterfeiting-led-to-a-major-overhaul-of-canadas-money/article2258968/singlepage/#articlecontent http://www.theglobeandmail.com/report-on-business/economy/cu...
mattwdelong 15y ago
I just received a polymer $100CAD bill the other day, I thought it was pretty bad ass. I had no clue that it was produced in Australia, and that this technology has been in circulation for a couple decades. I do notice that when I had the when the bill was in my wallet that has a money clip (I hate big wallets), and when sat on, it produced a visible crease that's not as prevalent in the fiber notes along side it. Overall, I do see it as being more durable.
anamax 15y ago
> have very low rates of counterfeiting due to the number of security features built in Is it the security measures, or does the (relatively) small number of places where one can pass Australian currency result in fewer attempts? US currency is somewhat familiar in a large number of countries, so there are lots of opportunities to get someone to take counterfeits.

dalore 15y ago

I read the article and they said they could even put watermarks that human can't see, only machines. Shops are already employing UV lights to check currency so I would imagine they would get something that could check for the invisible watermark.