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> Kong is the first crypto-cash No it's not. - https://casascius.com/ https://casascius.com/ - https://en.bitcoin.it/wiki/Casascius_physical_bitcoins https:/
by toomim 7y ago
> Kong is the first crypto-cash
No it's not.
- https://casascius.com/ https://casascius.com/
- https://en.bitcoin.it/wiki/Casascius_physical_bitcoins https://en.bitcoin.it/wiki/Casascius_physical_bitcoins
It looks like Kong might be the first crypto-cash with an issuer that hasn't seen its private keys. And that's cool, but it'd be good not to exaggerate what this is.
- toomim 7y agoAlso, why not apply this to an existing coin, like Bitcoin, rather than inventing yet another freaking asset? Oh yeah, because then the founders can't get rich in the ICO. Yuck.
- paulgerhardt 7y agoThere is no ICO. There is no token sale. Bitcoin script does not give us enough operations to do the validation. Using the EVM was the next best candidate. We're selling an extremely limited number of packs to validate the concept and cover manufacturing costs. Section 4.1 of the paper goes into details of why a purpose built token is more suitable than one designed for other purposes[1]. [1] https://ipfs.io/ipfs/QmRNRCocj4PwKMXrd1jeUGw7ASQSuEk7BDJu5KsGuWBXAX https://ipfs.io/ipfs/QmRNRCocj4PwKMXrd1jeUGw7ASQSuEk7BDJu5Ks...
- toomim 7y agoWonderful to hear! Thank you for responding to my fear with the light of information. You're converting me into a fan.
- gamblor956 7y agoWhat you have described is literally an ICO...
- hanniabu 7y agoI think their statement is accurate. The link you referenced is a physical implementation of Bitcoin. This seems to be "strictly" physical.
- toomim 7y agoAre you implying that it must be "strictly" physical in order to be called cash? Dollars aren't strictly physical. They also exist digitally. And they are cash.