> I've read the early mailing list archives for Bitcoin to see if I could understand Satoshi's intent in creating Bitcoin. The answer could be here: Thus, bit

> I've read the early mailing list archives for Bitcoin to see if I could understand Satoshi's intent in creating Bitcoin. The answer could be here: Thus, bit gold will not be fungible based on a simple function of, for example, the length of the string. Instead, to create fungible units dealers will have to combine different-valued pieces of bit gold into larger units of approximately equal value. This is analogous to what many commodity dealers do today to make commodity markets possible. Trust is still distributed because the estimated values of such bundles can be independently verified by many other parties in a largely or entirely automated fashion. In summary, all money mankind has ever used has been insecure in one way or another. This insecurity has been manifested in a wide variety of ways, from counterfeiting to theft, but the most pernicious of which has probably been inflation. Bit gold may provide us with a money of unprecedented security from these dangers.