4 ms·

I have US dollar bill B03542754F in my pocket right now. I wonder about its "blockchain" and how it has flowed into and through our economy. I wonder if it at

by EA 13y ago

I have US dollar bill B03542754F in my pocket right now. I wonder about its "blockchain" and how it has flowed into and through our economy. I wonder if it at anytime in its life has been a part of illegal activity.

1337biz 13y ago
Dear Sir, your $100 dollar bill was used in an illegal money transaction in 1972. It is your personal duty as a good citizen to destroy this element of crime immediately !
- aestra 13y ago
  Not too many bills from 1972 are still in circulation.
  - Houshalter 13y ago
    Banks keep records of bills that are destroyed and replaced with new bills.
- eterm 13y ago
  If your bill turns out to have one of the IDs that is known to have been given to DB Cooper then indeed they'll want it back.
qnaal 13y ago
http://www.wheresgeorge.com http://www.wheresgeorge.com
bluedino 13y ago
Wheresgeorge.com
jackgavigan 13y ago
"Money is not generally subject to a replevin action unless it is marked or packaged in such as way as to make it distinguishable." Source: http://rjcesq.com/?p=15 http://rjcesq.com/?p=15
- erichocean 13y ago
  How is "US dollar bill B03542754F" not distinguishable?
  - jackgavigan 13y ago
    I never said it wasn't. :-)
    - deleted 13y ago
      [deleted]
  - dzhiurgis 13y ago
    The press lost the count ;-)
- malka 13y ago
  So bitcoin is or is not money ? cause the US gov seems to want to gives the bitcoin the disadvantages of being considered a currency, without the advantages.
  - maxerickson 13y ago
    Which bitcoin rulings have not involved people that were handling dollars? (Serious question; most of the regulatory activity I've seen has been pointing out to people accepting dollars that they are money transmitters)
    - wmf 13y ago
      Trendon Shavers, although I think the case is still pending.
      - maxerickson 13y ago
        That calls bitcoin a 'virtual currency' and treats the crime as securities and mail fraud. I wouldn't call it a shining example of the government attacking bitcoin.
pessimizer 13y ago
It isn't connected to a blockchain, which is a distinct advantage over bitcoin.
maxerickson 13y ago
The post is not an attempt to smear bitcoin based on how it is used, it is expressly to point out that bitcoin does not share the special status that cash enjoys under U.S. law.
pjc50 13y ago
Slightly relevant: the IRA managed to steal ~10% of all Northern Bank banknotes in a single robbery. The bank decided to recall and print new ones: http://www.telegraph.co.uk/news/uknews/1480673/New-bank-notes-to-thwart-IRA-robbers.html http://www.telegraph.co.uk/news/uknews/1480673/New-bank-note... This would correspond to abandoning a blockchain and moving to a new one in response to a big enough fraud.
andrewfong 13y ago
Sure. But the fact that it's legal tender trumps the common law nemo dat rule.
PeterisP 13y ago
"Sting money" used in extortion/bribery/hostage situations can be and is repossessed based on those serial numbers. Not when it's too far removed, but if it's a few steps down, i.e., cash given to a friend/relative, cash dug underground in a secret location and the loot found by someone else, etc - I believe it would be successfully siezed also in those cases.

by EA 13y ago

1337biz 13y ago

Dear Sir, your $100 dollar bill was used in an illegal money transaction in 1972. It is your personal duty as a good citizen to destroy this element of crime immediately !

aestra 13y ago
Not too many bills from 1972 are still in circulation.
- Houshalter 13y ago
  Banks keep records of bills that are destroyed and replaced with new bills.
eterm 13y ago
If your bill turns out to have one of the IDs that is known to have been given to DB Cooper then indeed they'll want it back.

qnaal 13y ago

http://www.wheresgeorge.com http://www.wheresgeorge.com

bluedino 13y ago

Wheresgeorge.com

jackgavigan 13y ago

"Money is not generally subject to a replevin action unless it is marked or packaged in such as way as to make it distinguishable." Source: http://rjcesq.com/?p=15 http://rjcesq.com/?p=15

erichocean 13y ago
How is "US dollar bill B03542754F" not distinguishable?
- jackgavigan 13y ago
  I never said it wasn't. :-)
  - deleted 13y ago
    [deleted]
- dzhiurgis 13y ago
  The press lost the count ;-)
malka 13y ago
So bitcoin is or is not money ? cause the US gov seems to want to gives the bitcoin the disadvantages of being considered a currency, without the advantages.
- maxerickson 13y ago
  Which bitcoin rulings have not involved people that were handling dollars? (Serious question; most of the regulatory activity I've seen has been pointing out to people accepting dollars that they are money transmitters)
  - wmf 13y ago
    Trendon Shavers, although I think the case is still pending.
    - maxerickson 13y ago
      That calls bitcoin a 'virtual currency' and treats the crime as securities and mail fraud. I wouldn't call it a shining example of the government attacking bitcoin.

pessimizer 13y ago

It isn't connected to a blockchain, which is a distinct advantage over bitcoin.

maxerickson 13y ago

The post is not an attempt to smear bitcoin based on how it is used, it is expressly to point out that bitcoin does not share the special status that cash enjoys under U.S. law.

pjc50 13y ago

Slightly relevant: the IRA managed to steal ~10% of all Northern Bank banknotes in a single robbery. The bank decided to recall and print new ones: http://www.telegraph.co.uk/news/uknews/1480673/New-bank-notes-to-thwart-IRA-robbers.html http://www.telegraph.co.uk/news/uknews/1480673/New-bank-note... This would correspond to abandoning a blockchain and moving to a new one in response to a big enough fraud.

andrewfong 13y ago

Sure. But the fact that it's legal tender trumps the common law nemo dat rule.

PeterisP 13y ago

"Sting money" used in extortion/bribery/hostage situations can be and is repossessed based on those serial numbers. Not when it's too far removed, but if it's a few steps down, i.e., cash given to a friend/relative, cash dug underground in a secret location and the loot found by someone else, etc - I believe it would be successfully siezed also in those cases.