We don't do that We are beginning to see some companies do that that is a problem if you go to Bitstamp coinbase Zappo, and you say here's my bitcoin, and they say well three bitcoins ago Or three transactions ago this came from Bitfenix And we're gonna freeze your account You have a problem right? So that's fungibility being destroyed right now in Bitcoin however at the same time We're seeing a lot of technologies being developed to improve function t. Because fungibility also has to do with privacy and Anonymity which are really important characteristics that we're trying to strengthen and at the same time preserve within bitcoin and that means ensuring that Transactions are private that you don't know who is who in a transaction that you don't know what value is being transmitted There's a number of technologies being developed for that which make bitcoin extremely private Where you can't even see the value of the transactions being made you can't tell who is the Sender and who is the recipient? You can't tell how much money is being paid and it? really fixes Fungibility because you simply can't track coins from one to another and This is the point where most people go, but what about criminals, but what about drug dealers, but what about? Terrorists aren't they going to use this to do that?
Yes They're going to use this to do that and if you didn't do it in bitcoin They're going to use another cryptocurrency that already does that there's half a dozen Available that already do that. And if you say you can't use those I'll invent two. I'll write one this weekend this weekend that can do that The bottom line is that criminals will use technology even if it's illegal Incredible idea and so banning Technology Only effects the people who aren't criminals Is this me this is Wild Philosophy I know So you can't actually ban technology? especially open-source technology because the only people who will be affected by the ban are the innocent and the idiots The people who couldn't figure out how to use the technology that actually allowed them to hide the sources of their money So fungibility is something we're fixing in bitcoin because what it does is It helps everybody the innocent the well-meaning the people who pay taxes and want to educate their children and feed their children and buy homes and cars and operate in society protect their privacy from predators from corporations from Tyrannical governments from Oppressive governments, and so we need to do privacy for them and criminals will also use it that's my answer for fungibility. Thank you so much. That was a good last question. It's been a pleasure Thank you, everyone
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AuthorBetsy Wild is a founder of this blog She is a professor at Stanford University. Betsy writes researches on educational topics. She is also a writer at Edusson writing service. ArchivesCategories |