Oddbean new post about | logout
 the point is that it is possible to differentiate between utxos of the same 'value'

IOW, 'value' is not the only characteristic of a new utxo.
Because the ledger is transparent, 'history' is also communicated.

And because their 'history' is not the same, utxos of the same 'value' are nonfungible.
by definition.

yes and *then* people can make whatever decisions they want.

but we have decided that
"fungible"
means that units of equal size cannot be differentiated from each other.

and bitcoin is not that.
 
 Rare sats for example. 
 fucking rare sats 🙄 
 Rare sats are funny 😂 an example but a silly example. 

I see the perspective of the history, metadata about this utxo chain but this is at the human level. Imposed onto it. At the network level a utxo is a utxo. A sat is a sat, no matter how long or short its chained history is. 

Sure obfuscation of this history seems to provide ppl ”value” but not on the network. 
 sure
whatever.
nodes don't care.

its still not fungible in real life.
de facto nonfungible.

so let's all go ahead
get over the fact
and move on

bitcoin does NOT have all the properties of money
it's probably never going to have strong privacy
and its a big fucking problem 
 Good convo, i appreciate the push back and knowledge sharing. 
STACK SATS 🤙 
 lol cya 
 the hill I will die on

nostr:nevent1qqsvglmyn442s4tkkejasne05kqzm02exyakeetg7fmv5ef2lyns42qprdmhxue69uhkummnw3ezuur0wf6x2mt0dejhymewvdhk6q3qlxzaxzge0jq9u9cecucctdt5lslwgp7hcxmp2l0wn8r2ecjenwasxpqqqqqqzrclg2u 
 Every utxo is literally distinct...