Bitcoin Forum
December 12, 2017, 02:36:37 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Fungibility  (Read 70 times)
tatayoyo27
Newbie
*
Offline Offline

Activity: 8


View Profile
December 03, 2017, 12:29:12 PM
 #1

Is the non Fungibility of the bitcoin is a problem to become mainstream ? Can Bitcoin became fungible ?
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513046197
Hero Member
*
Offline Offline

Posts: 1513046197

View Profile Personal Message (Offline)

Ignore
1513046197
Reply with quote  #2

1513046197
Report to moderator
BlueSword
Newbie
*
Offline Offline

Activity: 17


View Profile
December 03, 2017, 01:21:38 PM
 #2

In what sense do you think that Bitcoin is non-fungible?  Merriam-Webster defines "fungible" as "being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an account".  Bitcoin seems to meet that definition; basically all entities who accept bitcoin will accept payment from any UTXO.
Iranus
Hero Member
*****
Offline Offline

Activity: 518


View Profile
December 03, 2017, 01:35:50 PM
 #3

Well, let's make a comparison with cash as to whether BTC is fungible.

With BTC, currently all known services accept all coins and treat them as having an equal value. 

The way that a government or other group could decide to compromise this fungibility is by tracking where the coins go and using blockchain analysis tools to try and report those coins as being owned by criminals.  BTC users can subvert this by using mixers and other systems to obscure blockchain analysis, and can often remove the ties between their coins and any shady activity.

With cash, currently all known services accept all cash and treat it as having an equal value.

The way that a government or other group could compromise the fungibility of cash is by marking it to track where it goes, especially when deposited into banks.  This is permanent and cannot be removed - you would have to launder your money and get new cash which is unmarked.

So how I see it, BTC is more fungible than cash.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!