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> At what point does a premium virtual asset become a "currency" When you can convert it to other currencies i suppose? Apparently thats not the case here, odd
by return0 9y ago
> At what point does a premium virtual asset become a "currency"
When you can convert it to other currencies i suppose? Apparently thats not the case here, oddly.
- kyledrake 9y agoThen it's not a (good) currency. Convertibility is an important requirement. Otherwise you don't really have the means to determine its value, and you can't trade it for anything outside. Essentially it would just be circus pizza tokens.
- y2gray 9y agomy understanding is Kin is an ERC20 token on the Ethereum network, which would mean they are all convertible. Facilitated by crypto exchanges offering trading pairs. Coinbase just published a good article on Ethereum tokens and seems like they will soon offer them https://blog.coinbase.com/a-beginners-guide-to-ethereum-tokens-fbd5611fe30b https://blog.coinbase.com/a-beginners-guide-to-ethereum-toke...
- DennisP 9y agoYep, it's an ERC20 on Ethereum: http://www.coindesk.com/icos-going-mainstream-chat-app-kik-launch-token-sale/ http://www.coindesk.com/icos-going-mainstream-chat-app-kik-l... There are several emerging projects for exchanging ERC20 tokens via smart contracts on chain.