Top products from r/bitcoinxt
We found 1 product mention on r/bitcoinxt. We ranked the 1 resulting product by number of redditors who mentioned them. Here are the top 20.
We found 1 product mention on r/bitcoinxt. We ranked the 1 resulting product by number of redditors who mentioned them. Here are the top 20.
> [I]t becomes more important that we who believe fungibility is necessary ensure that laws guaranteeing it for all currencies are entrenched and protected.
In spite of my comments below, I wholeheartedly hope that you succeed.
However, as long as one is more than a few steps away from a bitcoiner under investigation, one might be in the clear, if some of one's satoshis trace back to Silk Road. After all, Department of Homeland Security (DHS) officials auctioned the things off.
With regard to this from the article:
> The debate about whether Bitcoin is fit to be a currency rather than a payment layer between currencies is as alive as it has ever been.
Actually, that debate is rather new, and it is driven by one specific development team, with very little input from miners and essentially no input from those who hodl the largest bitcoin hoards, i.e. people who have funded this enterprise and actually have skin in the game. (Oddly, altcoin promoters feature rather prominently in that debate.)
Considering that bank executives worldwide have been deputized by the US Treasury Department in the War on Drugs and the War on Terrorism, the US dollar's fungibility has been broken for decades. Those interested this topic are encouraged to read Juan Zarate's Treasury's War. I know a bank executive who tells me that things have become even more so, since this book was first published.
As for this:
> “[Fungibility] is the idea that a 10 dollar note is the same as any other 10 dollar note. So if you receive a note that was involved in a theft 10 transactions go and the police investigated the theft, then they would have no right to take the note away from you,” according to Adam Back, the inventor of Hashcash.
It appears that Dr. Back is unfamiliar with Civil Forfeiture in the USA. One's $10 bill can be seized for any or no reason. It is so bad in the USA that CBC Senior Correspondent, Neil Macdonald, has warned Canadians visiting the USA not to carry cash.
If pure, perfect fungibility prevailed, then Source of Funds would be an empty concept. Also, if pure, perfect fungibility prevailed, then one might expect DHS agents to rain hellfire and fury on Bitcoin users.
I'm not saying that it is a good thing, but love it, hate it, or be indifferent to it, there it is.