Hi ZmnSCPxj,
On Mon, Jan 29, 2018 at 9:32 PM, ZmnSCPxj wrote: >What ensures that a paper money with "10 Dollar" on it, is same as 10 coins each with "1 Dollar" on it? >This is the principle of fungibility, and means I can exchange a paper with "10 Dollar" on it for 10 coins with "1 Dollar" on it, because by government fiat, such an exchange is valid for all cases. >What ensures that btc.0 and btc.1 are indistinguishable from a human perception? This is a good question. Does anyone think about why the bitcoins generated from different blocks have the same value? Some of them are still distinguishable ( if they are not combined with others sent out). Would the bitcoins that can be traced back to the block where it was generated be worth different from others ? If one day Satoshi released his/her/their bitcoins , would the bitcoins from the first several blocks mined by Satoshi be worth more? I think for fungibility, it is not like either it has fungibility or it has no fungibility. There should be a value of fungibility (e.g. from 0 to 1) that can be measured or evaluated. Chaofan
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