Might be. I am getting my coins from an exchange and sig camp payments. I don't have any other coin income. So If my sig camp payments are tainted, It might cause me problems. I heard binance locking people's accounts randomly without a reason and these people did their KYC already. That might be the reason why they do that.
That might be a good reason to dump Binance.Agreed.
So, when cryptosize above said, people can take them bad coins for a discount, his example already violated the description of fungible.
No, it didn't. Just because there might be dumb people who want to trade their "tainted" coins at a 50% discount, doesn't make it the truth. These people can use decentralized solutions to trade them anonymously with no "discount" BS. They are taking the risk of getting questioned by the police and possibly doing time. That's the risk they are taking for buying these tainted coins. You are willing to take that risk for free. Do you think it is smart? Not from their point of view. You brought decentralized solutions to the discussion but last time I checked, bisq was a ghost town and exchanges like eXch aren't really decentralized. When they have a volume above the limit, it will ring a bell and the gov will take it down just like how they did it to chipmexer.
And when nobody wants these tainted coins, that means these coins can't act as currency anymore. If nobody wants them, they ain't fungible. They can't perform. They can't function. (except for you, to you they are still fungible.
Except for me, and for every single person out there who's using decentralized exchanges, or exchanges which don't discriminate their traders based on inaccurate blockchain analysis. Every other single person out there who's using dex's and how many are there of those people actually? Can you give me a number? And compare it to the people that use centralized exchanges maybe? What is the rate? 1 to 100? 1 to 1000? 1 to 10.000? There aren't as many people that use dex's. as you think there are.
Right now there are 173 offers for the EUR/BTC pair and 68 offers for the USD/BTC pair on bisq.
And in that case, the police would knock your door... you'd have some explaining to do.
For once more, that's a privacy problem, not a fungibility problem. The fact that I'd be directly tied with ISIS doesn't make the coins less valuable than the rest.Let's hear what Andread Antonopoulos has to say about this.
At minute 3:40, He says bitcoin fungible-ish. He doesn't say it is fungible. He says exchanges are starting to reject some coins and that's becoming a problem. Before he talks about that, he explains what fungible is.
I'll copy paste it too:
At 1:24, His explanation is spot on, money is fungible indeed. He said FIAT are also fungible because nobody checks their serial numbers but that's not true for banks. Banks do check them from time to time. He was wrong there. Yes normal every day people and businesses don't have the patience or resources to check the serial number of a dollar bill. I said this in my first post in this topic too. With bitcoin, chain analysis is much faster and automated so it doesn't apply to bitcoin. Exchanges do check bitcoin's history on the block chain. He is also missing something else there, FIAT is not money, I'll come back to this later.
let wait a few years for black hat to have a real revelation
money is not fungible
money does not have to be fungible
blackhat just thinks a narrow path that fits whatever he is promoting
2 people working the same job same hours same location.. one only needs to work 40 minutes for $10, the other works an hour for $10
walking between 2 shops on same major road. $2 can buy a whole loaf of bread, however a mile away that same $2 wont be enough to buy a whole loaf of same brand bread, same day within 20 minutes..
money does not mean the same value to different people
heck even someone receiving $100 from a relative on their birthday is treated differently by the tax man than someone receiving $100 from a days income from work. or $100 in investment gains from a investment sell
1btc to someone in a icelandic/slavic region is worth $25k of mining cost
1btc to someone in the pacific island regions is worth $110k of mining cost
1btc to the market traders is worth $67k
someone would prefer to mine a fresh mined coin for a premium than receive mixed coin even at discount
money is not fungible
money does not have to be fungible
blackhat just thinks a narrow path that fits whatever he is promoting
2 people working the same job same hours same location.. one only needs to work 40 minutes for $10, the other works an hour for $10
walking between 2 shops on same major road. $2 can buy a whole loaf of bread, however a mile away that same $2 wont be enough to buy a whole loaf of same brand bread, same day within 20 minutes..
money does not mean the same value to different people
heck even someone receiving $100 from a relative on their birthday is treated differently by the tax man than someone receiving $100 from a days income from work. or $100 in investment gains from a investment sell
1btc to someone in a icelandic/slavic region is worth $25k of mining cost
1btc to someone in the pacific island regions is worth $110k of mining cost
1btc to the market traders is worth $67k
someone would prefer to mine a fresh mined coin for a premium than receive mixed coin even at discount
You are not more informed than blackhat on this matter sadly. Do you know what is more dangerous than being uninformed? Being half-informed.
Money is fungible. It is because money is a commodity. Every commodity can because money. Rice, tobacco, coffee, water, gold, copper... Some are obviously more practical than the others. Gold coins are definitely more practical than water for example. Commodities are fungible.
FIAT is not money. It is a currency. (It used to be money when it was backed by gold, a commodity. Now it is backed by nothing.) That's the difference between a gold coin and a dollar bill. One of them is money, the other one is currency. Bitcoin? Bitcoin is close to be money because it is "fungible-ish". It is not fungible. "Fungible-ish", means its position can change from situation to situation. In the USA, it is not really fungible. In Russia? It is fungible probably since no Russian business will care.
If you can sell you hacked coin to some careless or uninformed people, it is fungible for you because people like blackhat will take these coins without thinking about the consequences of their actions. How many of those people are there? Definitely not as many as blackhat thinks. Maybe he doesn't live in EU or USA where people get punished for that kind of stuff.
People who became crypto investors learned it from the internet and there are far too much wrong info on the internet. Everyone has an idea but only a few has real information.