3 ms·

The author speaks heavily of stable coins. The first stable coin came a half decade after BTC... Also, the author doesn't know how to spell Bitcoin... Also, w

The author speaks heavily of stable coins. The first stable coin came a half decade after BTC... Also, the author doesn't know how to spell Bitcoin... Also, wtf are major promises? 1 Bitcoin still equals 1 Bitcoin, and YRMV is the watchword of the space--snake oil salesmen aside. That said, for the space as a whole, plenty of people are pro and plenty are anti. Unfortunately either take gets upvoted these days due to the polarizing emotions.

lordofgibbons 4y ago
>1 Bitcoin still equals 1 Bitcoin How can this be true without fungibility? If 1btc equaled 1btc, then why does virgin bitcoin hold a premium over circulated ones? And why do coins seized by law enforcement sell for bellow market value? Clearly, when you have a transparent and traceable ledger, your coin's history will come back to bite you. https://cryptogeek.info/en/blog/what-is-virgin-bitcoin-and-why-is-it-more-expensive https://cryptogeek.info/en/blog/what-is-virgin-bitcoin-and-w... https://bitcoinmagazine.com/markets/us-government-to-auction-bitcoin-worth-over-300000 https://bitcoinmagazine.com/markets/us-government-to-auction...
- DigiDigiorno 4y ago
  None of these examples include someone trading 1 BTC for X BTC, less, more, or equal to 1 BTC.
  - lordofgibbons 4y ago
    It's right there in the first paragraph: >..some prefer to purchase exactly the “Virgin Bitcoins” that has just been mined and overpay for them from 10% to 30%. >meaning that buyers were able to scoop bitcoin at more than 6% below market price
- Grimburger 4y ago
  > why does virgin bitcoin hold a premium over circulated ones Because people doing bad things are happy to swap their dirty coins for clean ones that can be spent in the developed world. The people mining the clean coins in Mongolia couldn't care less about the other party selling weed on the internet in Germany and happily take the generous premium. > And why do coins seized by law enforcement sell for bellow market value? Because the onerous requirements to purchase such bitcoin from the government adds cost and simply buying the same amount on market has very little friction or overhead.

lordofgibbons 4y ago

>1 Bitcoin still equals 1 Bitcoin How can this be true without fungibility? If 1btc equaled 1btc, then why does virgin bitcoin hold a premium over circulated ones? And why do coins seized by law enforcement sell for bellow market value? Clearly, when you have a transparent and traceable ledger, your coin's history will come back to bite you. https://cryptogeek.info/en/blog/what-is-virgin-bitcoin-and-why-is-it-more-expensive https://cryptogeek.info/en/blog/what-is-virgin-bitcoin-and-w... https://bitcoinmagazine.com/markets/us-government-to-auction-bitcoin-worth-over-300000 https://bitcoinmagazine.com/markets/us-government-to-auction...

DigiDigiorno 4y ago
None of these examples include someone trading 1 BTC for X BTC, less, more, or equal to 1 BTC.
- lordofgibbons 4y ago
  It's right there in the first paragraph: >..some prefer to purchase exactly the “Virgin Bitcoins” that has just been mined and overpay for them from 10% to 30%. >meaning that buyers were able to scoop bitcoin at more than 6% below market price
Grimburger 4y ago
> why does virgin bitcoin hold a premium over circulated ones Because people doing bad things are happy to swap their dirty coins for clean ones that can be spent in the developed world. The people mining the clean coins in Mongolia couldn't care less about the other party selling weed on the internet in Germany and happily take the generous premium. > And why do coins seized by law enforcement sell for bellow market value? Because the onerous requirements to purchase such bitcoin from the government adds cost and simply buying the same amount on market has very little friction or overhead.