Is that true that every single coin (ETH, BTC or any other) is unique?

[a298b112]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

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[hosseinimr93]

About bitcoin: Not entirely true.
About Ethereum: Completely wrong

Bitcoin:
When you make a bitcoin transaction, you deal with inputs and outputs and you send coins (also called UTXO which is the abbreviation of unspent transaction output).
Every coin you send doesn't have to be multiple of 1 bitcoin. It's multiple of 1 satoshi (0.00000001 BTC)

Assume that I send you a coin worth 0.5 BTC and you send that to someone else.
You can only move the entire 0.5 BTC. You can't move 0.2 BTC without touching the other 0.3 BTC. You break the 0.5 BTC into "0.2 BTC", "0.3 BTC - transaction fee" and "transaction fee".
The transaction fee goes to miners and you can send back the 0.3 BTC - fee to yourself.

So, it's true that the 0.5 BTC that I have sent to you can be tracked and anyone can know its next destinations. But you should note that it won't remain a single coin that will always worth 0.5 BTC. It can be broken into smaller parts. Also, a single coin doesn't mean 1 BTC. It can be any amount of bitcoin.

Ethereum:
Ethereum works in a different way.
Let's say I have sent you 1 ETH and someone else has sent you 2 ETH. Now you want to send 0.5 ETH. You send 0.5 ETH from the 3 ETH you have already received and it's not possible to say the 0.5 ETH you sent has come from the 1 ETH or the 2 ETH. 

[LUCKMCFLY]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

You have to be clear about one thing BTC is like the King currency, it is the only one that is distinguished from all of them, and if you start to see that the currency that sounds the most in the news and in different media emphasizes BTC, ETH It is considered the second best cryptocurrency after BTC, and from then on there are countless coins or altcoins that have different characteristics and innovations that can be differentiated from the others. In addition, the price of each of them is something very distinguishable.

[adzino]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

It's because each of those coin have their own blockchain network. The BTC network is separate from the ETH network. Same for all other coins. And when you make a transaction, you can see the transaction on the blockchain (unless the transaction took place off chain/internally such as custodial wallets or exchange).
Yes, you can see who selling, buying or holding, but you won't know who that person is unless you know who that address belongs to.

[Silberman]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

I think you are confusing terms, fungible just means that a dollar in my pocket is as valuable and can be exchanged with a dollar in your pocket with no problem, bitcoin is fungible, what happens is that governments want this to change by forcing companies to not accept bitcoin coming from dubious sources, now this may not seem that bad but one of the main characteristics that a form of money must have is its fungibility and without it then it cannot be considered to be money anymore, which is what governments are really after, they are trying to make bitcoin lose one of the most important characteristics that money can have so people do not use it anymore.

[Yogee]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain.... then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

Transactions can be traced but it doesn't mean you'll know who owns it.

It would be better if you can try a little experiment of your own to understand how transactions are traced on chain. You can start with https://blockchair.com/ or other explorers you may find better.

Here's for Bitcoin - https://blockchair.com/bitcoin
Here's for Ethereum - https://blockchair.com/ethereum

Scroll down and look for the "Latest Blocks" then click any of them. You will be shown the transaction details including the address of the sender and the receiver. You can also paste any wallet address on the search box and you'll see the same details.

[timerland]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

No...?

I don't think that this is the case. Otherwise there would be no reason for NFTs to be so groundbreaking.

In an economic sense they are definitely fungible. You could say that chunks of coin are distinct digital entities from one another but that is just as useless as saying that they are different 1s and 0s on the network.

[WalkerIVIV]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain.

Yeah but it's encrypted and that means you didn't even know who has owned the address. that means if you can only trace the movement of fund from one to the another address without knowing the owner.

And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

Those are not fungible. Some were creating caused by the new developers wanna make improvements for the old token. it's the same that happened with ethereum. ethereum was starting from the bitcoin source code and then vitalik and his team were changing some codes and try to make new implementation but it's still using bitcoin code as basic representation.

[cryptoaddictchie]

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

Yes you can viewed that on onchain. But Im not sure on centralized exchange since you are trading on inside of a platform. But for sure withdrawal and deposit can be seen and can be tracked on explorer.

Different coins and tokens have varied purpose and use case and it will depend on the team to see if its worth a shot to invest with or not.

[Silberman]

Yesterday while watching a show on TV, the presenter was saying that unlike usual fiat money, every single coin (could be BTC or ETH) can be identified, meaning that you can trace its movement on the chain. And I thought, this is not the initial idea. For some reason I thought that the BTC (or ETH, or any other coin) is fungible (this is a new term I learned recently, and not sure if I can use it in this context).

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

No...?

I don't think that this is the case. Otherwise there would be no reason for NFTs to be so groundbreaking.

In an economic sense they are definitely fungible. You could say that chunks of coin are distinct digital entities from one another but that is just as useless as saying that they are different 1s and 0s on the network.

It is just that simple, bitcoin is fungible, if it was not then non-fungible tokens would not be a thing at all and we would not have all the excitement we have over the market about them, now governments are doing what they can to promote the idea of blocking certain coins since according to them they became tainted as they were used on the black markets, but this makes no sense, cash is used all over the world for illegal purposes and no one claims that we need to burn that money away, so why they want to do this with bitcoin? To control us and what we can do with our coins.

[usekevin]

What is interesting here is that if every single coin can be unique and distinguishable from other coin, then you can trace its movement, and see who is selling, buying or holding it. Is this how it works?

Yes you can viewed that on onchain. But Im not sure on centralized exchange since you are trading on inside of a platform. But for sure withdrawal and deposit can be seen and can be tracked on explorer.

Different coins and tokens have varied purpose and use case and it will depend on the team to see if its worth a shot to invest with or not.

Bitcoin had a unique amount of investors, every year the investors to bitcoin was increased huge. ETH had a huge amount of investors as like a bitcoin. So the price of bitcoin gonna reach the move towards the value of 70k$ very soon. The price of Ethereum gonna a reach 10k in a very short period. So investment made a huge change in this two coins as compared to other coins.