Friday, December 6, 2013

Bitcoin operated fiat shredder

In myy ongoing commentary about Bitcoin technology, the subject cam up about how an central banker web bot could destroy paper fiat. I reasoned that a perfect AI machine managing managing prices in bitcoin units would collect excess fiat moneys, in the form of digital accounts.  The web bot needs a fool proof way to withdraw cash and wipe out these accounts. I have the solution.

So here is my public domain invention, the bitcoin reverse atm.  The ATM is programmed to accept paper fiat and return bitcoin, but it immediately shreds a portion of the fiat collected! The machine is as secure as any other ATM, and th global brain can thus eliminate inefficient paper fiat.

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