4 ms·

Except for the de minimus overhead of making-change/breaking-big-bills, physical cash is usually described as 'fungible' in the sense meaningful for economics:

by gojomo 5y ago

Except for the de minimus overhead of making-change/breaking-big-bills, physical cash is usually described as 'fungible' in the sense meaningful for economics: each $N is completely equivalent to any other $N – na matter its history or how the tally was subdivided/recombined over time.

0des 5y ago
That's not what fungible means though. When you start printing numbers on them, they're no longer fungible.
- gojomo 5y ago
  Perhaps pedantically from a particular viewpoint, & if banks used a blacklist of certain bill numbers. But to financial economists, cash is a textbook example of a ‘fungible’ thing. So a statement like – “Monero is fungible, cash is not.” – implies you’re using peculiar definitions.
  - 0des 5y ago
    Fungibility means that two things are mutually interchangeable on all levels. I cannot take cash into a bank that came from a heist or a covert drug buy from the authorities for example, I'd go to jail. The term 'marked bills' exist because cash is not fungible, not all bills are equal. This is the binary quality of fungibility. There are no shades of fungibility, there is no "well this is X's definition of it".
    - gojomo 5y ago
      You are free to write as many words as you’d like on your idiosyncratic beliefs, but the fields of law, finance, & economics, as practiced & documented, disagree with you: https://www.investopedia.com/terms/f/fungibility.asp https://www.investopedia.com/terms/f/fungibility.asp (It is interesting to think of the ways traditional cash might not meet a physicist’s definition, or assumptions under which Monero might somehow be more fungible or less fungible than physical cash, on a spectrum richer than a pure binary. But if you remain oblivious to what the word commonly means to others, you’re failing a bit at communication.)

4 ms·

Except for the de minimus overhead of making-change/breaking-big-bills, physical cash is usually described as 'fungible' in the sense meaningful for economics:

by gojomo 5y ago

0des 5y ago
That's not what fungible means though. When you start printing numbers on them, they're no longer fungible.
- gojomo 5y ago
  Perhaps pedantically from a particular viewpoint, & if banks used a blacklist of certain bill numbers. But to financial economists, cash is a textbook example of a ‘fungible’ thing. So a statement like – “Monero is fungible, cash is not.” – implies you’re using peculiar definitions.
  - 0des 5y ago
    Fungibility means that two things are mutually interchangeable on all levels. I cannot take cash into a bank that came from a heist or a covert drug buy from the authorities for example, I'd go to jail. The term 'marked bills' exist because cash is not fungible, not all bills are equal. This is the binary quality of fungibility. There are no shades of fungibility, there is no "well this is X's definition of it".
    - gojomo 5y ago
      You are free to write as many words as you’d like on your idiosyncratic beliefs, but the fields of law, finance, & economics, as practiced & documented, disagree with you: https://www.investopedia.com/terms/f/fungibility.asp https://www.investopedia.com/terms/f/fungibility.asp (It is interesting to think of the ways traditional cash might not meet a physicist’s definition, or assumptions under which Monero might somehow be more fungible or less fungible than physical cash, on a spectrum richer than a pure binary. But if you remain oblivious to what the word commonly means to others, you’re failing a bit at communication.)