2 ms·

That flaw is mostly a non-issue with cash because printing it is difficult. Who prints Kong? I imagine prevalence of counterfeiting is more or less directly pro

That flaw is mostly a non-issue with cash because printing it is difficult. Who prints Kong? I imagine prevalence of counterfeiting is more or less directly proportional to the ease of printing.

darawk 7y ago
> That flaw is mostly a non-issue with cash because printing it is difficult. That depends entirely on how good your fake is. And it is most certainly not 'mostly a non-issue'. Counterfeiting happens all the time. > Who prints Kong? I imagine prevalence of counterfeiting is more or less directly proportional to the ease of printing. Nobody. Kong is printed algorithmically, like any other cryptocurrency.
- jakelazaroff 7y ago
  > And it is most certainly not 'mostly a non-issue'. Counterfeiting happens all the time. How often have you had any real-life issues with counterfeit money? How often has anyone you know? How often have you even heard of it happening, relative to how often you see and hear of cash being used? A sibling comment provided a source that said that only 1% of 1% of cash is counterfeit. > Nobody. Kong is printed algorithmically, like any other cryptocurrency. What? Notes and coins are a human-made physical items. They’re manufactured by someone.
  - darawk 7y ago
    > How often have you had any real-life issues with counterfeit money? How often has anyone you know? How often have you even heard of it happening, relative to how often you see and hear of cash being used? A sibling comment provided a source that said that only 1% of 1% of cash is counterfeit. Stores have issues with it all the time. That's why they don't often take large bills. I and my personal acquaintances don't accept a lot of cash in exchange for goods and services. You think 1% of cash being counterfeit is not a problem? That sounds like a huge problem to me. > What? Notes and coins are a human-made physical items. They’re manufactured by someone. Sure, the physical objects are made by someone. But the digital tokens to which they refer are produced algorithmically, and the digital tokens are the source of truth here.
    - jakelazaroff 7y ago
      1% of 1% (so .01%). Is refusing large bills an effective countermeasure? If so, then yeah — not really an issue. Our economy somehow grinds along just fine. > Sure, the physical objects are made by someone. But the digital tokens to which they refer are produced algorithmically, and the digital tokens are the source of truth here. In what sense? The whole idea here is that I can exchange a physical note to transact with someone.
      - darawk 7y ago
        > 1% of 1% (so .01%). Is refusing large bills an effective countermeasure? If so, then yeah — not really an issue. Our economy somehow grinds along just fine. So refuse large Kong notes. Why would you assume the economy finds workarounds for cash but not this? > In what sense? The whole idea here is that I can exchange a physical note to transact with someone. Ya, and for most transactions you will. If you're suspicious, you can validate the physical devices using your phone. But for simple transactions with a moderate level of trust, you can accept cash. The same way you accept a $20 from a friend without buying a counterfeit detector pen to check it.
        arcticbull 7y ago
        > So refuse large Kong notes. Why would you assume the economy finds workarounds for cash but not this? That makes this, at best not better, and at worst, well, worse, because it introduces a myriad new failure modes.
        jakelazaroff 7y ago
        Why do you assume only large Kong notes will be easily falsified? The scenario I foresee is if printing notes becomes decentralized, a malicious printer makes any note likely to be duplicated. Re: finding workarounds, we’re talking about money — we shouldn’t be “testing in production”, so to speak. IMO the government should come down hard on this.
        darawk 7y ago
sschueller 7y ago
I doubt it is hard to print physical kong notes. They aren't having them printed by Orell Füssli[1] or some other place that prints actual bank notes. [1] https://www.ofs.ch/products-services/banknotes/ https://www.ofs.ch/products-services/banknotes/

That flaw is mostly a non-issue with cash because printing it is difficult. Who prints Kong? I imagine prevalence of counterfeiting is more or less directly proportional to the ease of printing.

darawk 7y ago

> That flaw is mostly a non-issue with cash because printing it is difficult. That depends entirely on how good your fake is. And it is most certainly not 'mostly a non-issue'. Counterfeiting happens all the time. > Who prints Kong? I imagine prevalence of counterfeiting is more or less directly proportional to the ease of printing. Nobody. Kong is printed algorithmically, like any other cryptocurrency.

jakelazaroff 7y ago
> And it is most certainly not 'mostly a non-issue'. Counterfeiting happens all the time. How often have you had any real-life issues with counterfeit money? How often has anyone you know? How often have you even heard of it happening, relative to how often you see and hear of cash being used? A sibling comment provided a source that said that only 1% of 1% of cash is counterfeit. > Nobody. Kong is printed algorithmically, like any other cryptocurrency. What? Notes and coins are a human-made physical items. They’re manufactured by someone.
- darawk 7y ago
  > How often have you had any real-life issues with counterfeit money? How often has anyone you know? How often have you even heard of it happening, relative to how often you see and hear of cash being used? A sibling comment provided a source that said that only 1% of 1% of cash is counterfeit. Stores have issues with it all the time. That's why they don't often take large bills. I and my personal acquaintances don't accept a lot of cash in exchange for goods and services. You think 1% of cash being counterfeit is not a problem? That sounds like a huge problem to me. > What? Notes and coins are a human-made physical items. They’re manufactured by someone. Sure, the physical objects are made by someone. But the digital tokens to which they refer are produced algorithmically, and the digital tokens are the source of truth here.
  - jakelazaroff 7y ago
    1% of 1% (so .01%). Is refusing large bills an effective countermeasure? If so, then yeah — not really an issue. Our economy somehow grinds along just fine. > Sure, the physical objects are made by someone. But the digital tokens to which they refer are produced algorithmically, and the digital tokens are the source of truth here. In what sense? The whole idea here is that I can exchange a physical note to transact with someone.
    - darawk 7y ago
      > 1% of 1% (so .01%). Is refusing large bills an effective countermeasure? If so, then yeah — not really an issue. Our economy somehow grinds along just fine. So refuse large Kong notes. Why would you assume the economy finds workarounds for cash but not this? > In what sense? The whole idea here is that I can exchange a physical note to transact with someone. Ya, and for most transactions you will. If you're suspicious, you can validate the physical devices using your phone. But for simple transactions with a moderate level of trust, you can accept cash. The same way you accept a $20 from a friend without buying a counterfeit detector pen to check it.
      - arcticbull 7y ago
        > So refuse large Kong notes. Why would you assume the economy finds workarounds for cash but not this? That makes this, at best not better, and at worst, well, worse, because it introduces a myriad new failure modes.
      - jakelazaroff 7y ago
        Why do you assume only large Kong notes will be easily falsified? The scenario I foresee is if printing notes becomes decentralized, a malicious printer makes any note likely to be duplicated. Re: finding workarounds, we’re talking about money — we shouldn’t be “testing in production”, so to speak. IMO the government should come down hard on this.
        darawk 7y ago

sschueller 7y ago

I doubt it is hard to print physical kong notes. They aren't having them printed by Orell Füssli[1] or some other place that prints actual bank notes. [1] https://www.ofs.ch/products-services/banknotes/ https://www.ofs.ch/products-services/banknotes/