Post
Topic
Board Development & Technical Discussion
Re: Fungibility: what can we do about this?
by
philipma1957
on 07/11/2015, 00:07:51 UTC
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.


 See what I bolded>  That may be what you want to be true and what you believe, but depending on where you live it is not true.

In the USA  the federal government charges income tax on btc profits so ultimately  it has the right to look if you are subject to USA federal income tax.

Now if you are not subject to  USA federal income tax laws and many people in the world are not I feel your pain. But anyone sending to you from the usa needs to make proper disclosure.