Return-Path: Received: from smtp1.linuxfoundation.org (smtp1.linux-foundation.org [172.17.192.35]) by mail.linuxfoundation.org (Postfix) with ESMTPS id E2D60E06 for ; Tue, 30 Jan 2018 06:20:37 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.7.6 Received: from mail-wr0-f177.google.com (mail-wr0-f177.google.com [209.85.128.177]) by smtp1.linuxfoundation.org (Postfix) with ESMTPS id 3FB041C0 for ; Tue, 30 Jan 2018 06:20:37 +0000 (UTC) Received: by mail-wr0-f177.google.com with SMTP id v15so9778823wrb.8 for ; Mon, 29 Jan 2018 22:20:37 -0800 (PST) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=gmail.com; s=20161025; h=mime-version:in-reply-to:references:from:date:message-id:subject:to :cc; bh=4y0lh1TJW4nfnMv0e13XgRE29aXOmEurdjktYHD+f5Y=; b=n3HCZGxQF7ZVwSh8FlXv8ncf7/qWThgC3HTsedWpK2ONwZO0pPf77lJuXLrEW/gc8E RdJTGX5PkN39QAi17lKmoAxa0F67A5Y5PtG8YjAYSXyXQ7ZNdfiwZn+RLVyLxF7AeWoC NF1cQJ+XwSxrAQPQ0mEosMrs40wKJTKCAEZxxf75PehBtEYcIFHrROTK24LX82hA69Y8 G5aHyh3d5/7PrbPE/nEjNbbBlo8Iw6WmuSwaDLLeCXKjX9p3RAZNly7oD++xB5/JCSF2 JHE89blHsRud1fPoI52MWwTFWgDLpmBjZ9XOkKHpkAyXj6yiZ95FmVJs0oxWupdC/Pkt EnsQ== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:mime-version:in-reply-to:references:from:date :message-id:subject:to:cc; bh=4y0lh1TJW4nfnMv0e13XgRE29aXOmEurdjktYHD+f5Y=; b=ta+9ZqmCCHvJYQlLetJ1EY+pw5V5w5vB9PjP9AV54gqfRMOdF+ZPk2yQbzIt85zgBk 3xZ1db9CDS4RLhUv2dX1g1lYO98MWMwl/6DjJ5OL+xuIWPRcgIHuc+sAXMlYj+HMr7Mm YsHkTyVeriYHrR5Qi0Bw4Lrs/ubeVK9fs8Q3Nb4O5MaUUBRfzHUPq/81d/kgyzPLcrl8 8dELR2gHcMWgIfh0g+WU4+QqJ2Vh01EjL5vMGdiWIRBPg82Ns09jiOHK0JneFwyc69jH M1QIcowWU+AEcwVjwcFuSlXvmMFUGWturxkA0GvpCibh5a4Jj3xmyyExbYOhM9tx8fyf eKdg== X-Gm-Message-State: AKwxytcaM+5FNG8v3JjBXR6vjJsDLUzqird4aHZ71dkyuKd4BpifVRpE R1F6rhKNVqySPLTbHYprwZq64yIw/1FhhfV4fjw= X-Google-Smtp-Source: AH8x226MSd9zvSSP1tx4Jzw3KDb8lA7YrzEycOuGSAFxAKlMhfQbGlNW5upCPj4mdpva5XZ4zk2oNOutAWOLdYJ9Cyk= X-Received: by 10.223.128.98 with SMTP id 89mr20653270wrk.280.1517293235871; Mon, 29 Jan 2018 22:20:35 -0800 (PST) MIME-Version: 1.0 Received: by 10.223.184.108 with HTTP; Mon, 29 Jan 2018 22:20:35 -0800 (PST) In-Reply-To: References: <16b2ea77-3ff5-81b1-d3d7-a7107f4b37fc@voskuil.org> From: Chaofan Li Date: Mon, 29 Jan 2018 22:20:35 -0800 Message-ID: To: ZmnSCPxj Content-Type: multipart/alternative; boundary="94eb2c06a2ee5823b60563f85c3e" X-Spam-Status: No, score=-1.7 required=5.0 tests=BAYES_00,DKIM_SIGNED, DKIM_VALID,DKIM_VALID_AU,FREEMAIL_ENVFROM_END_DIGIT,FREEMAIL_FROM, HTML_MESSAGE,RCVD_IN_DNSWL_NONE autolearn=no version=3.3.1 X-Spam-Checker-Version: SpamAssassin 3.3.1 (2010-03-16) on smtp1.linux-foundation.org X-Mailman-Approved-At: Tue, 30 Jan 2018 15:24:32 +0000 Cc: Bitcoin Protocol Discussion Subject: Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal (Chaofan Li) X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.12 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Tue, 30 Jan 2018 06:20:38 -0000 --94eb2c06a2ee5823b60563f85c3e Content-Type: text/plain; charset="UTF-8" Hi ZmnSCPxj, On Mon, Jan 29, 2018 at 9:32 PM, ZmnSCPxj wrote: >What ensures that a paper money with "10 Dollar" on it, is same as 10 coins each with "1 Dollar" on it? >This is the principle of fungibility, and means I can exchange a paper with "10 Dollar" on it for 10 coins with "1 Dollar" on it, because by government fiat, such an exchange is valid for all cases. >What ensures that btc.0 and btc.1 are indistinguishable from a human perception? This is a good question. Does anyone think about why the bitcoins generated from different blocks have the same value? Some of them are still distinguishable ( if they are not combined with others sent out). Would the bitcoins that can be traced back to the block where it was generated be worth different from others ? If one day Satoshi released his/her/their bitcoins , would the bitcoins from the first several blocks mined by Satoshi be worth more? I think for fungibility, it is not like either it has fungibility or it has no fungibility. There should be a value of fungibility (e.g. from 0 to 1) that can be measured or evaluated. Chaofan --94eb2c06a2ee5823b60563f85c3e Content-Type: text/html; charset="UTF-8" Content-Transfer-Encoding: quoted-printable
Hi ZmnSCPxj,

On Mon, Jan 29, 2018 at 9:32 PM, ZmnSCPxj wrote:
= >What ensures that a paper money with "10 Dollar" on it, is sa= me as 10 coins each with "1 Dollar" on it?
>This is the principle of fungibility, and means I= can exchange a paper with "10 Dollar" on it for 10 coins with &q= uot;1 Dollar" on it, because by government fiat, such an exchange is v= alid for all cases.
>Wh= at ensures that btc.0 and btc.1 are indistinguishable from a human percepti= on?

This is a good question. Does anyone think abou= t why the bitcoins generated from different blocks have the same value? Som= e of them are still distinguishable ( if they are not combined with others = sent out).=C2=A0 Would the bitcoins that can be traced back to th= e block where it was generated=C2=A0 be worth different from others ?=C2=A0=C2=A0=C2=A0If one day Satoshi released h= is/her/their bitcoins=C2=A0=C2=A0, would the bitcoins f= rom the first several blocks mined by Satoshi be worth more?=C2=A0

I think for fungibility, it is not like either it has fungibility or it has= no fungibility. There should be a value of fungibility (e.g. from 0 to 1) = that can be measured or evaluated.

Chaofan

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