If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#11
|
|||
|
|||
All banknotes to have a 2D barcode?
"GB" wrote in message news:44b8c6b7$0$5221
There are good reasons for not confiscating money from an innocent end user simply because the serial no is on a list of stolen notes. There are still nearly 30 million pounds of stolen notes missing from the big robbery in Essex a few months go, and that's just one robbery. The grand total must be much higher. Commerce would grind to a halt if everybody had to check each note against a database of stolen ones. The bad would drive out the good? Any instance of creating uncertainty or doubt is bad for a currency, modern currencies are supported by nothing other than trust, they are merely bits of paper to which the general public attribute 'value'. There is the conceit, is a stolen note any different to what the BoE prints for itself above the growth rate of the economy? Money supply in general is in double digits year on year, we all pay for this hidden inflation eventually, regardless of its source. |
Ads |
#12
|
|||
|
|||
All banknotes to have a 2D barcode?
"Dave" wrote in message
Apparently PDF417 can store 500 characters per square inch (I'm not an expert in this area, though) And when it's tattered and ripped? |
#13
|
|||
|
|||
All banknotes to have a 2D barcode?
On Sat, 15 Jul 2006 21:26:23 +0100, Virgils Ghost wrote:
"GB" wrote in message news:44b8c6b7$0$5221 There are good reasons for not confiscating money from an innocent end user simply because the serial no is on a list of stolen notes. There are still nearly 30 million pounds of stolen notes missing from the big robbery in Essex a few months go, and that's just one robbery. The grand total must be much higher. Commerce would grind to a halt if everybody had to check each note against a database of stolen ones. The bad would drive out the good? Any instance of creating uncertainty or doubt is bad for a currency, modern currencies are supported by nothing other than trust, they are merely bits of paper to which the general public attribute 'value'. There is the conceit, is a stolen note any different to what the BoE prints for itself above the growth rate of the economy? Money supply in general is in double digits year on year, we all pay for this hidden inflation eventually, regardless of its source. Agreed. -- http://www.petersparrots.com http://www.insanevideoclips.com http://www.petersphotos.com Mrs. Jones is having her house painted, and her husband comes home from work and leans against the freshly painted wall. The next day, she says to the painter, "You wanna see where my husband put his hand last night?" He sighs and says, "Look lady, I got a tough day's work ahead of me. Why don't you just make us a cup of tea?" |
#14
|
|||
|
|||
All banknotes to have a 2D barcode?
On Sat, 15 Jul 2006 21:21:59 +0100, Virgils Ghost wrote:
The ECB are looking into RFID, I think it should have been in place by now. However, given the growth in credit and debit card transactions, which have overtaken cash payments in the UK, is there much point? Banks dislike cash, there are security risks, reserve issues and the FRB system leaves them exposed to theoretical runs and credit crunches. The banks love the ability to generate liquidity for credit card transactions and all the associated merchant fees. Does paper money have much of a future? Enplanting notes with RFID chips is an obvious bridge technology, government would certainly like to track all possible transactions. The only time I ever use cash is if I've been given some and wish to use it up. Even the post office accepts a debit card. -- http://www.petersparrots.com http://www.insanevideoclips.com http://www.petersphotos.com Intercourse prevents divorce. |
#15
|
|||
|
|||
All banknotes to have a 2D barcode?
"Virgils Ghost" wrote in message m... "Dave" wrote in message Apparently PDF417 can store 500 characters per square inch (I'm not an expert in this area, though) And when it's tattered and ripped? PDF 417 only requires a small percentage of the coverage area to be able to read the entire code. It has excellent redundancy. Depending on the amount of information stored on the barcode, you can tear a PDF 417 into 3 pieces and stand a good chance of reading the information. If it was just storing currency serial numbers, there wouldn't be a problem at all. PDF417 barcodes can store up to 2710 characters. |
#16
|
|||
|
|||
All banknotes to have a 2D barcode?
In article "Virgils Ghost" writes:
However, given the growth in credit and debit card transactions, which have overtaken cash payments in the UK, is there much point? Banks dislike cash, there are security risks, reserve issues and the FRB system leaves them exposed to theoretical runs and credit crunches. The reason banks do not like cash is that there is no revenue for them. With each debit card transaction the bank will receive money. With each credit card transaction the bank will receive money. In the Netherlands a common debit card transaction requires a fee of about 30 cents from the seller. A credit card transaction requires a fee of 3 or 4 % of the amount. The banks love the ability to generate liquidity for credit card transactions and all the associated merchant fees. Yes, of course, the merchant fee is their income (in addition to the fee the credit card holder already pays). But how will the merchant react if the number of credit card and debit card payments increases? Right, he will increase the price. Why are banks not willing that merchants charge the cost of the transaction to the client? In the Netherlands the banks just announced that they wanted statements at a till like "for amounts under EUR 30 you pay an additional 30 cents" to be removed. That is not going to happen, not when the markup for the merchants on some articles can be as low as 25 cents (and the transaction cost for debit card payment is 30 cents). -- dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131 home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/ |
#17
|
|||
|
|||
All banknotes to have a 2D barcode?
"GB" wrote in message ... "Dave" wrote in message ups.com... Hi, As an interim step to total electronicization of money I believe that 2D barcodes on banknotes should uniquely sign the note, so any imaging network device could tell if the bit of paper was a duplicate, and help tracking. A non-networked device should be able to check the signature, but not do real-time tracking. If your money was stolen you should be able to receive your stolen property when it was handed into a bank. (Or is ownership of banknotes lost upon theft? - uk.legal) In principle, there is nothing to stop you writing down the serial nos of all your bank notes in case they are stolen. Nobody does, though. Whilst bar codes would make it easier, I am sure that OCR technology can easily cope with reading existing serial nos. There are good reasons for not confiscating money from an innocent end user simply because the serial no is on a list of stolen notes. There are still nearly 30 million pounds of stolen notes missing from the big robbery in Essex a few months go, and that's just one robbery. The grand total must be much higher. Commerce would grind to a halt if everybody had to check each note against a database of stolen ones. OCR technology is a joke. There's absolutely no_way a circulated note of any kind could ever be OCR'd or even scanned in by a bar code reader. |
#18
|
|||
|
|||
All banknotes to have a 2D barcode?
On Sun, 16 Jul 2006 02:49:59 +0100, Dik T. Winter wrote:
In article "Virgils Ghost" writes: However, given the growth in credit and debit card transactions, which have overtaken cash payments in the UK, is there much point? Banks dislike cash, there are security risks, reserve issues and the FRB system leaves them exposed to theoretical runs and credit crunches. The reason banks do not like cash is that there is no revenue for them. With each debit card transaction the bank will receive money. With each credit card transaction the bank will receive money. In the Netherlands a common debit card transaction requires a fee of about 30 cents from the seller. A credit card transaction requires a fee of 3 or 4 % of the amount. AFAIK in the UK debit card transactions are free. Credit cards (Visa and Mastercard) are 2.5%. American Express is higher, something like 4%. The banks love the ability to generate liquidity for credit card transactions and all the associated merchant fees. Yes, of course, the merchant fee is their income (in addition to the fee the credit card holder already pays). All credit cards in the UK are free. You only pay money in interest if you don't pay the full amount back each month. They started introducing a £10 a year charge a while back, but people voted with their feet. But how will the merchant react if the number of credit card and debit card payments increases? Right, he will increase the price. Why are banks not willing that merchants charge the cost of the transaction to the client? In the Netherlands the banks just announced that they wanted statements at a till like "for amounts under EUR 30 you pay an additional 30 cents" to be removed. That is not going to happen, not when the markup for the merchants on some articles can be as low as 25 cents (and the transaction cost for debit card payment is 30 cents). Only small shops seem to charge for using cards here. Large shops realise that most people use cards, so they just shove the fee inside the cost of the goods. -- http://www.petersparrots.com http://www.insanevideoclips.com http://www.petersphotos.com ______ __ ( ,' ) `. __ ______/(_________ \\_/ _// , \ ),----/ \------._\ \@ @ /_\ )// \\ //||\\ ,-'` ) _,// ,- \__) )/ \// || \\ (o o) / |_/__) ) // || \\ \)^\) //___/ / // || \\ '---'___/ / ,--// || \\ ,'_____/ /,' // _ || \\ /_______) ) //,?`. || ,--. \\ _____ ______(________) `./// \||/ `.\\ `-//`_ _ (________), `.\ _)/ _)/ /(/ _)/ `^(________\`._, `. | \ ( _______..--`- \_, /// _ _ -- __.'_ /(/\)-'_``-----``___ `--.._ ( ( ( _________`,' ``--.._ `._______( ) `-. `-.____\_ , ,_ `. ____/ ``--\ `.__,..--````-. \ /_,- _,._\ \ \ `. \ /'-`` ) `. \ /) \ | ____\ |__, \\ / / /_,- __ '.^ \`.__.' .' / /_,` `-) `-...-` ' |
#19
|
|||
|
|||
All banknotes to have a 2D barcode?
"bri" wrote in message .net... "GB" wrote in message ... "Dave" wrote in message ups.com... Hi, As an interim step to total electronicization of money I believe that 2D barcodes on banknotes should uniquely sign the note, so any imaging network device could tell if the bit of paper was a duplicate, and help tracking. A non-networked device should be able to check the signature, but not do real-time tracking. If your money was stolen you should be able to receive your stolen property when it was handed into a bank. (Or is ownership of banknotes lost upon theft? - uk.legal) In principle, there is nothing to stop you writing down the serial nos of all your bank notes in case they are stolen. Nobody does, though. Whilst bar codes would make it easier, I am sure that OCR technology can easily cope with reading existing serial nos. There are good reasons for not confiscating money from an innocent end user simply because the serial no is on a list of stolen notes. There are still nearly 30 million pounds of stolen notes missing from the big robbery in Essex a few months go, and that's just one robbery. The grand total must be much higher. Commerce would grind to a halt if everybody had to check each note against a database of stolen ones. OCR technology is a joke. There's absolutely no_way a circulated note of any kind could ever be OCR'd or even scanned in by a bar code reader. If it's possible to have a camera read a car number plate that may be travelling at 100 mph I find it difficult to accept that a static note would be difficult to read. Billy |
#20
|
|||
|
|||
All banknotes to have a 2D barcode?
Dave wrote:
Sorry, I just thought that RDIF tags could have a similar function- if they could be given a unique signiature. RDIF tags? Have never heard of them. Could you elaborate? Joe R. |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Banknotes | fedrsrv$ | Paper Money | 0 | September 1st 04 07:47 PM |
Trichet signature on Euro banknotes | Arwel Parry | Paper Money | 1 | May 4th 04 07:39 AM |