Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
rocks
on 18/05/2015, 19:39:53 UTC
OK, so I'm genuinely curious to understand in what ways you think Monero as money is superior to Bitcoin as money.

To me the six properties of money are:
  • ...
  • Uniform - Each unit is valued the same - Check, Bitcoin is perfectly uniform (same/better than gold)
  • ...

sorry my english is bad, thats why i only want to talk about the properties of money since i thougth a lot about it.
i agree with all points except this one.

Gold is uniform because you can melt it down if needed and no one will ever recognize it again. with bitcoin this is not possible.
for now its uniform, but for how long, if its not fungible?

the 6th property of money is fungibility, not uniformity, since fungibility inculdes uniformity allready, but means a lot more in the end

Well I've always seen it as fungibility derives from uniformity, if something is perfectly uniform, then it will be fungible as well.

The worry being expressed here is that colored coins will force bitcoin to lose fungibility, but the thing to remember is the bitcoin network will not discriminate and continue to process white/black coins with no regard for whatever government rules are imposed on people. In that manner Bitcoin will always remain perfectly fungible in it's natural state. Fungibility might only be lost in how it is used, but people can ignore gov rules and use it however they want.