/biz/ - Business & Finance

One of Monero's problems is that it pisses off narcissistic retards. A notable example is Adreas Antanopolous but I know lots of others, particularly BTC maximalists that have had bad reactions. It's a shame because Monero is what bitcoin was supposed to be and these stubborn morons are missing out.

>>18456570
Fungible means perfectly substitutable. A group of guys can leave $100 each on a table and it doesn't matter who takes what later because its all $100. Every atom of gold has 79 protons. There are different coins, jewelry, etc that aren't fungible but are fungible at the atomic level.

Transaction history of gold/cash doesn't matter. They don't hold information about previous owners.

Not with blockchains. With blockchains the value of a coin is derived from its history. The coin is its history. When you spend bitcoin you are transferring ownership of a transaction output that can trace its lineage back to the block it was mined in. If you can't establish a history back to a block reward then it's not real bitcoin. The problem this creates for fungibility is that each transaction output has a unique history. The different histories makes each output different and therefore not always substitutable. Take the $100 example but now with BTC paper wallets. One contains a freshly minted coinbase reward, the next carefully managed coinjoin outputs, the next outputs received from a poker site, the next from payments for ransomware, etc. You think those first two guys would be happy to take home any of the other paper wallets that nominally have the same amount of bitcoin? Fuck no.

Monero is still a PoW blockchain. Every output needs to be able to trace a lineage to a pow block reward. The difference from bitcoin is that every transaction has its history obscured to the point where each output becomes practically indistinguishable. Every tx on the blockchain goes to a one time stealth address, every tx amount looks the same, and each output is mixed in with many other outputs that exponentially increases the amount of possible paths for the genuine input each time a tx is made. Monero makes the inherently non fungible public blockchain fungible for practical purposes.

Also
https://monero.stackexchange.com/questions/1967/what-is-fungibility-and-why-does-it-matter

>>17874536
holy based

>>16814447
better quality version