4 ms·

So in theoretical use, is everyone expected to validate authenticity of each note exchanged? That seems painful for small transactions, but without it you lose

by mNovak 7y ago

So in theoretical use, is everyone expected to validate authenticity of each note exchanged? That seems painful for small transactions, but without it you lose absolutely all the security benefits of crypto, right? (e.g. vulnerable to good old fashioned counterfeiting)

undersuit 7y ago
Just do it like we do it in the US, $50s and $100s get checked consistently for counterfeits, $20s sometimes, $1s, $5s, and $10s never, and $2s are automatically assumed to be fake.
- tehwebguy 7y ago
  Yeah but what the hell is a Kong worth at the moment of sale? Unless the price is listed in this particular crypto people will have to do a live conversion to even know what this space cash is even worth. Also, very funny (and accurate) about the $2
  - undersuit 7y ago
    A Kong is worth what I think it's worth. If I saw Kongs trading for 1 beer in the morning and some guy insisted that the rate was now 1.45 Kongs a beer in the evening I might object.
    - tehwebguy 7y ago
      Yeah for sure, especially since there apparently aren’t partial Kongs.
- alasdair_ 7y ago
  >$2s are automatically assumed to be fake Steve Wozniak used to keep uncut sheets of $2 bills that he perforated and would tear off to give tips to people. He has a great story about secret service agents detaining him and accepting his fake ID ("Laser Safety Officer" - it showed him with an eyepatch on) and generally having no idea $2 existed. https://www.coinbooks.org/esylum_v18n36a40.html https://www.coinbooks.org/esylum_v18n36a40.html
- vinniejames 7y ago
  Why are $2's assumed fake?
  - dragonwriter 7y ago
    They are so rarely encountered than many people don't think that they are a denomination actually issued.
    - undersuit 7y ago
      Correct, they aren't issued by anyone but cool grandpas and uncles in my experience.
      - gnaritas 7y ago
        You must not live in a state where pot is legal; in such places $2 bills floating around everywhere, I use them all the time. The reason: cash businesses use them heavily to reduce the amount of physical cash they need to maintain and move around. Pot shops occupy a gray area legally and banks don't like to deal with them so they often operate old school: cash businesses. I have a few in my wallet most of the time, like to use them for tips when I eat out.
  - Jamwinner 7y ago
    They arent.
- Jamwinner 7y ago
  I use Twos all the time. I have never had it checked, or assumed fake.

by mNovak 7y ago

undersuit 7y ago

Just do it like we do it in the US, $50s and $100s get checked consistently for counterfeits, $20s sometimes, $1s, $5s, and $10s never, and $2s are automatically assumed to be fake.

tehwebguy 7y ago
Yeah but what the hell is a Kong worth at the moment of sale? Unless the price is listed in this particular crypto people will have to do a live conversion to even know what this space cash is even worth. Also, very funny (and accurate) about the $2
- undersuit 7y ago
  A Kong is worth what I think it's worth. If I saw Kongs trading for 1 beer in the morning and some guy insisted that the rate was now 1.45 Kongs a beer in the evening I might object.
  - tehwebguy 7y ago
    Yeah for sure, especially since there apparently aren’t partial Kongs.
alasdair_ 7y ago
>$2s are automatically assumed to be fake Steve Wozniak used to keep uncut sheets of $2 bills that he perforated and would tear off to give tips to people. He has a great story about secret service agents detaining him and accepting his fake ID ("Laser Safety Officer" - it showed him with an eyepatch on) and generally having no idea $2 existed. https://www.coinbooks.org/esylum_v18n36a40.html https://www.coinbooks.org/esylum_v18n36a40.html
vinniejames 7y ago
Why are $2's assumed fake?
- dragonwriter 7y ago
  They are so rarely encountered than many people don't think that they are a denomination actually issued.
  - undersuit 7y ago
    Correct, they aren't issued by anyone but cool grandpas and uncles in my experience.
    - gnaritas 7y ago
      You must not live in a state where pot is legal; in such places $2 bills floating around everywhere, I use them all the time. The reason: cash businesses use them heavily to reduce the amount of physical cash they need to maintain and move around. Pot shops occupy a gray area legally and banks don't like to deal with them so they often operate old school: cash businesses. I have a few in my wallet most of the time, like to use them for tips when I eat out.
- Jamwinner 7y ago
  They arent.
Jamwinner 7y ago
I use Twos all the time. I have never had it checked, or assumed fake.