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From: Chaofan Li <li3939108@gmail.com>
Date: Mon, 29 Jan 2018 22:20:35 -0800
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Subject: Re: [bitcoin-dev] Blockchain Voluntary Fork (Split) Proposal
(Chaofan Li)
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--94eb2c06a2ee5823b60563f85c3e
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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
<div dir=3D"ltr">Hi ZmnSCPxj,<br><div class=3D"gmail_extra"><br></div><div =
class=3D"gmail_extra">
<table cellpadding=3D"0" class=3D"gmail-ajC" style=3D"color:rgb(0,0,0);font=
-family:arial,sans-serif;font-size:11.2px;font-style:normal;font-variant-li=
gatures:normal;font-variant-caps:normal;font-weight:400;letter-spacing:norm=
al;text-align:start;text-indent:0px;text-transform:none;white-space:normal;=
word-spacing:0px;background-color:rgb(255,255,255);text-decoration-style:in=
itial;text-decoration-color:initial"><tbody><tr class=3D"gmail-ajv"><td col=
span=3D"2" class=3D"gmail-gG" style=3D"font-family:arial,sans-serif;margin:=
0px;text-align:right;color:rgb(153,153,153);white-space:nowrap;vertical-ali=
gn:top;width:52px;padding:6px 16px 6px 0px"><br></td><td colspan=3D"2" clas=
s=3D"gmail-gL" style=3D"font-family:arial,sans-serif;margin:0px;white-space=
:normal;vertical-align:top;width:auto;padding:6px 0px"></td></tr></tbody></=
table>
<span style=3D"color:rgb(0,0,0);font-family:arial,sans-serif;font-size:11.2=
px;font-style:normal;font-variant-ligatures:normal;font-variant-caps:normal=
;font-weight:400;letter-spacing:normal;text-align:start;text-indent:0px;tex=
t-transform:none;white-space:normal;word-spacing:0px;background-color:rgb(2=
55,255,255);text-decoration-style:initial;text-decoration-color:initial;flo=
at:none;display:inline">On Mon, Jan 29, 2018 at 9:32 PM, ZmnSCPxj wrote:</s=
pan><br><div class=3D"gmail_quote">
<div style=3D"color:rgb(34,34,34);font-family:arial,sans-serif;font-size:11=
.2px;font-style:normal;font-variant-ligatures:normal;font-variant-caps:norm=
al;font-weight:400;letter-spacing:normal;text-align:start;text-indent:0px;t=
ext-transform:none;white-space:normal;word-spacing:0px;background-color:rgb=
(255,255,255);text-decoration-style:initial;text-decoration-color:initial">=
>What ensures that a paper money with "10 Dollar" on it, is sa=
me as 10 coins each with "1 Dollar" on it?<br></div><div style=3D=
"color:rgb(34,34,34);font-family:arial,sans-serif;font-size:11.2px;font-sty=
le:normal;font-variant-ligatures:normal;font-variant-caps:normal;font-weigh=
t:400;letter-spacing:normal;text-align:start;text-indent:0px;text-transform=
:none;white-space:normal;word-spacing:0px;background-color:rgb(255,255,255)=
;text-decoration-style:initial;text-decoration-color:initial"><span style=
=3D"font-size:11.2px">>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.</span><br></div><div style=3D"color:rgb(34,34,34);font-=
family:arial,sans-serif;font-size:11.2px;font-style:normal;font-variant-lig=
atures:normal;font-variant-caps:normal;font-weight:400;letter-spacing:norma=
l;text-align:start;text-indent:0px;text-transform:none;white-space:normal;w=
ord-spacing:0px;background-color:rgb(255,255,255);text-decoration-style:ini=
tial;text-decoration-color:initial"><span style=3D"font-size:11.2px">>Wh=
at ensures that btc.0 and btc.1 are indistinguishable from a human percepti=
on?</span><br></div><div style=3D"color:rgb(34,34,34);font-family:arial,san=
s-serif;font-size:11.2px;font-style:normal;font-variant-ligatures:normal;fo=
nt-variant-caps:normal;font-weight:400;letter-spacing:normal;text-align:sta=
rt;text-indent:0px;text-transform:none;white-space:normal;word-spacing:0px;=
background-color:rgb(255,255,255);text-decoration-style:initial;text-decora=
tion-color:initial"><span style=3D"font-size:11.2px"><br></span></div><div =
style=3D"color:rgb(34,34,34);font-family:arial,sans-serif;font-size:11.2px;=
font-style:normal;font-variant-ligatures:normal;font-variant-caps:normal;fo=
nt-weight:400;letter-spacing:normal;text-align:start;text-indent:0px;text-t=
ransform:none;white-space:normal;word-spacing:0px;background-color:rgb(255,=
255,255);text-decoration-style:initial;text-decoration-color:initial"><span=
style=3D"font-size:11.2px">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
<span style=3D"color:rgb(34,34,34);font-family:arial,sans-serif;font-size:1=
1.2px;font-style:normal;font-variant-ligatures:normal;font-variant-caps:nor=
mal;font-weight:400;letter-spacing:normal;text-align:start;text-indent:0px;=
text-transform:none;white-space:normal;word-spacing:0px;background-color:rg=
b(255,255,255);text-decoration-style:initial;text-decoration-color:initial;=
float:none;display:inline">Would the bitcoins that can be traced back to th=
e block where it was generated=C2=A0 be worth different from others ?</span=
>=C2=A0=C2=A0=C2=A0<span style=3D"color:rgb(34,34,34);font-family:arial,san=
s-serif;font-size:11.2px;font-style:normal;font-variant-ligatures:normal;fo=
nt-variant-caps:normal;font-weight:400;letter-spacing:normal;text-align:sta=
rt;text-indent:0px;text-transform:none;white-space:normal;word-spacing:0px;=
background-color:rgb(255,255,255);text-decoration-style:initial;text-decora=
tion-color:initial;float:none;display:inline">If one day Satoshi released h=
is/her/their bitcoins<span>=C2=A0</span></span>=C2=A0, would the bitcoins f=
rom the first several blocks mined by Satoshi be worth more?=C2=A0</span></=
div><div style=3D"color:rgb(34,34,34);font-family:arial,sans-serif;font-siz=
e:11.2px;font-style:normal;font-variant-ligatures:normal;font-variant-caps:=
normal;font-weight:400;letter-spacing:normal;text-align:start;text-indent:0=
px;text-transform:none;white-space:normal;word-spacing:0px;background-color=
:rgb(255,255,255);text-decoration-style:initial;text-decoration-color:initi=
al"><span style=3D"font-size:11.2px"><br></span></div>
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.</div><div class=3D"gmail_quote"><br></di=
v><div class=3D"gmail_quote">Chaofan</div><div class=3D"gmail_quote"><br></=
div></div></div>
--94eb2c06a2ee5823b60563f85c3e--
|
