Pages:
Author

Topic: Fungibility: what can we do about this? - page 2. (Read 2892 times)

copper member
Activity: 1498
Merit: 1528
No I dont escrow anymore.
October 23, 2015, 12:03:27 PM
#2
It does not change anything, you can buy a 2$ bill for 3.95$[1]. It wont be worth more at the store around the corner.
You can buy a 50 EUR bill for 69.00$[2]. It wont be worth anything unless you actually travel to a country accepting it.

Same as these bills, freshly minted coins are a collectors item and have no effect on the overal fungibility.

[1] http://www.ebay.com/itm/2009-UNCIRCULATED-2-TWO-Dollar-Bill-Mint-Crisp-Note-Sequential-Order-LIMIT-10-/221910246938?hash=item33aae1a61a:g:dcIAAOSwuMFUlGbb
[2] should be 55.09 by todays exchange rate http://www.ebay.com/itm/Euro-Currency-circulated-bills-50-euro-/321899418602?hash=item4af2b353ea:g:o1MAAOSwI-BWJ7pg
legendary
Activity: 1372
Merit: 1252
October 23, 2015, 08:05:56 AM
#1
Fungibility (or lack of it, not sure about how to use the term tbh) what can be done? I don't like the idea of using some Bitcoins that were once used by some criminals or something. With cash this is not a problem because we don't have a public ledger for cash, all cash is the same, but with Bitcoin, all transactions are recorded for everyone to see. I know confidential transactions are coming which is cool, because its no one's business to know how much money you are moving but you and the other party, but ultimately this does not solve the fungibility problem. So how do you keep the ledger public, while making it impossible to know if your Bitcoins are "good bitcoins" or "bad bitcoins" so to speak, so all Bitcoins are the same? There is already a market for "freshly mined bitcoins with 0 transactions": see this

https://blog.blocktrail.com/2015/07/announcing-blocktrail-mint-fresh-bitcoin-delivered-from-the-mines/

I think everyone deserves the same level of anonymity and fungibility, no matter if you are expert, noob, wealthy or poor. It shouldn't be something "extra". I hope this makes any sense.
Pages:
Jump to: