Author: Chaofan Li 2018-01-30 06:20:35
Published on: 2018-01-30T06:20:35+00:00
The conversation between ZmnSCPxj and Chaofan revolves around the concept of fungibility in paper money and Bitcoin. ZmnSCPxj asks about the principle of fungibility that allows exchange of a paper money with "10 Dollar" on it for 10 coins with "1 Dollar" on it, which is valid by government fiat. Chaofan then wonders why bitcoins generated from different blocks have the same value and if they can be traced back to their block of origin, would they be worth different amounts? They also raise the question of whether bitcoins from the first several blocks mined by Satoshi would be worth more if released by him/her/their. Chaofan suggests that fungibility should have a measurable or evaluative value rather than being binary.
Updated on: 2023-06-13T00:04:22.467955+00:00