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Not true even within the bitcoin specification itself. Look at how transaction fees are calculated. Older coins pay less fees than newer coins. They are not fun
by heckerhut 5y ago
Not true even within the bitcoin specification itself. Look at how transaction fees are calculated. Older coins pay less fees than newer coins. They are not fungible. It’s one of bitcoins biggest weaknesses. Even Adam Back agrees with that (Google some older ltb episodes)
- DubiousPusher 5y ago> Older coins pay less fees than newer coins. And some circulated currency becomes more valuable because of its collectability or changes in its composite metals. But we do not say the system of currency itself has been rendered I fungible. I have ceded the technical point here several times. But for most practical purposes it is fungible because most users of bitcoin do not care which coin they get when they recieve it nor which one they lose when they recieve it.
- heckerhut 5y agoThe point everyone is trying to make is that because the bitcoins are technically not fungible they will, over time, also become practically not fungible due to, eg government intervention (AML, CO2, whatever). That is pretty much set in stone.
- DubiousPusher 5y agoI doubt it. I would bet most people will not care.