Quote from: r0ach on July 25, 2017, 02:06:05 AM

Quote from: sidhujag on July 22, 2017, 10:07:22 PM

CT and schnorr sigs will make btc fungible.

Cryptocurrency is NOT fungible. You're trying to make believe that if coins can be tumbled it's somehow fungible but there is more to it than that. If anything about the protocol at all can be altered via a strongman or banana republic voting to take over it's exposed power vacuum it's not fungible. Anonymint even agreed on this at one point in time but he has probably cucked out and did a 180 now that he wants to release a cryptocurrency of his own. The article I wrote on RFID chipping earlier clearly explains why cryptocurrency is not fungible.

Just read the quoted text if you don't want to click it:

https://steemit.com/news/@r0achtheunsavory/the-r0ach-report-19-the-mainstream-media-broke-all-records-in-malthusian-propaganda-today-rfid-chipping

Quote from: r0ach

Money = has objective, static traits

Currency = random arbitrary bullshit some guy makes up and constantly fiddles with like fiat or bitcoin. If it's possible for your money to "hard fork", or randomly morph from one thing to another, it's not fungible, and hence not money. In that circumstance you are involved in some type of scheme with a schemer ruling over you.

It doesn't matter if said forks are orchestrated by a banana republic of miners in a voting process. There is no Nash equilibrium in cryptocurrency, only a power vacuum to be filled by a top down hierarchy or strongman. To escape this master and servant hierarchy you have to use real money that cannot be altered or tampered with by third parties.

Like I said money has no definition it is a construct. It is built to suit the needs of barter at the time. Last century we had gold then transitioned to rate targetting fiat this century we have crypto the next type of money. The cool thing with crypto is it is engineered to mold to the needs of society. That is what we are doing. Ct lets us have zkp and brings fungability to the table for bitcoin. Tumbling has nothing to do with it. With sidechains and zkp this can be a reality. Gold is not fungible and crypto is by definition because of its engineering qualities.

Read nick szabos blog on multhusian events causing commodities to fall back to industrial value.

http://unenumerated.blogspot.ca/2016/02/two-malthusian-scares.html?m=1

We are in one now which should put gold back to under $1000 for the foreseeable future.