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Bitcoins have always been non-fungible. Ordinals are just a standard for referencing a specific coin down to the unit (Satoshi) level that can be objectively de
by tylersmith 3y ago
Bitcoins have always been non-fungible. Ordinals are just a standard for referencing a specific coin down to the unit (Satoshi) level that can be objectively determined. You can then "Inscribe" a given ordinal with a data payload such as json and image data.
- nullc 3y agoFungibility is a social/political/economic property. No two macroscopic physical objects are identical either, but we can treat them as fungible by disregarding their insubstantial differences.
- diego_sandoval 3y agoThat's assuming that the insubstantial differences are detectable. Monero is fungible not because we choose to ignore the differences between units, but because we actually can't detect any relevant difference that makes it traceable or identifiable in practice.
- nullc 3y agoMonero isn't in that sense either though, as each coin does have a casual history far smaller than the system-- less distinguishable for sure, but indistinguishable not quite! In the case discussed here the users are intentionally making their coins distinctive, which users could also do in monero if they were equivalently stupid. :P