Nostr Web Client

Your BS is ridiculous.

https://en.wikipedia.org/wiki/Fungibility

"For example, the fungibility of money means that a $100 bill (note) is considered entirely equivalent to another $100 bill, or to twenty $5 bills and so on"

and cash has even identification numbers on it.

1 Bitcoin = 1 Bitcoin

and because Bitcoin is decentralized and is peer-to-peer no one can stop anyone accepting Bitcoin

Bitcoin is fungible money!

Hanshan 23h ago 💬 1

repeating stuff doesn't make it true.

cash bills are actually non-fungible as well (they have unique serial numbers!).

but they're "considered entirely equivalent" because they're NOT tracked on a transparent blockchain that anybody with an internet connection can audit.

if they were, then it would be very important that they have unique serial numbers on them, instead of something that everybody just ignores.

people would hesitate to accept cash that they knew came from drug cartels, banks would look at the history of notes to avoid accepting "high-risk" deposits.

this is a disadvantage of a digital value transfer system over a physical one and why actually understanding fungibility in the real world is important.

instead of the bullshit dogma that you just repeat autistically, encouraging a misunderstanding of fungibility that puts real users at risk.

Reply to this note

Please Login to reply.

Discussion

BitcoinIsFuture 22h ago 💬 1

More of your own clown theory?

Hanshan 22h ago 💬 1

its a very obvious.

maybe try refuting the argument...?

or AT LEAST try to say why it doesnt matter that the movement of utxos are publicly recorded and cash bills aren't.

BitcoinIsFuture 22h ago 💬 1

You are making up your own clown theory and its ridiculous.

You just said that dollar bills are not fungible money which every definition gives as example of fungible money.

You are just writing ridiculous BS.

Per your own clown definition of fungible money it seems only Monero must be fungible, although we have seen traceability on Monero.

I have already said countless times that no one can stop anyone accepting Bitcoin because Bitcoin is decentralized peer-to-peer Freedom Money and 1 Bitcoin = 1 Bitcoin.

Bitcoin is fungible money. And your BS argument about tainting is refuted via coinjoins and #Lightning. Thats it.

Hanshan 22h ago 💬 1

cool 👍

obviously we've reached the end of your critical thinking abilities.

Hanshan 21h ago

but for the discerning reader,

the whole argument boils down to whether or not UTXOs of the same value are accepted *in practice* as fungible (like bills).

or whether they are seen as different because of their history.

we have plenty of examples of the history of specific UTXOs being 1 known and 2 compromising their value perception

we don't have so many examples of the value of cash being compromised because of its history. except in cop dramas where they paint the bank money with ultraviolet ink and shit.

so, the fungibility of UTXOs is much easier to compromise. it takes very little effort for a peer (or any interested party) to discern between UTXOs of the same value.

but it is SO extremely difficult to discern between cash bills of the same value that basically nobody does it except for law enforcement in specific situations.