kenn3d on Nostr: Odler Hodler's comment, speaks to a key feature of Bitcoin: fungibility. Fungibility ...
Odler Hodler's comment, speaks to a key feature of Bitcoin: fungibility. Fungibility means that each unit of a currency (or commodity, like gold) is identical and interchangeable with any other unit of the same currency, regardless of when it was acquired or who owned it previously. Here’s what Odler Hodler might mean: Fungibility of Bitcoin: No matter when or how he acquired his bitcoins, each one is worth the same as a newly mined or newly purchased Bitcoin. All bitcoins are treated equally on the blockchain and in the market, regardless of their "age" or previous value. In other words, 1 Bitcoin is always 1 Bitcoin. Value Over Time: Even though the value of Bitcoin has fluctuated significantly, and Odler's older Bitcoins were likely purchased when the price was lower, they still hold the same market value today as newly purchased Bitcoins. The age of his coins doesn’t matter; what matters is the current market price. Fairness: Odler is suggesting that this system seems "fair" because it doesn't penalize or reward someone based on how long they've held Bitcoin — the market value is determined solely by demand and supply at any given moment. His old Bitcoins have appreciated in value over time, but the intrinsic equality of each Bitcoin means they are equally valued now as newer Bitcoins. Essentially, Odler Hodler might be celebrating the idea that even though his bitcoins are older and bought at a lower price, in today's market, they're worth just as much as any new bitcoins. This shows how Bitcoin has appreciated in value, and he benefits from its market-based valuation system.
Published at
2024-10-11 14:04:59Event JSON
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"content": "Odler Hodler's comment, speaks to a key feature of Bitcoin: fungibility. Fungibility means that each unit of a currency (or commodity, like gold) is identical and interchangeable with any other unit of the same currency, regardless of when it was acquired or who owned it previously. Here’s what Odler Hodler might mean: Fungibility of Bitcoin: No matter when or how he acquired his bitcoins, each one is worth the same as a newly mined or newly purchased Bitcoin. All bitcoins are treated equally on the blockchain and in the market, regardless of their \"age\" or previous value. In other words, 1 Bitcoin is always 1 Bitcoin. Value Over Time: Even though the value of Bitcoin has fluctuated significantly, and Odler's older Bitcoins were likely purchased when the price was lower, they still hold the same market value today as newly purchased Bitcoins. The age of his coins doesn’t matter; what matters is the current market price. Fairness: Odler is suggesting that this system seems \"fair\" because it doesn't penalize or reward someone based on how long they've held Bitcoin — the market value is determined solely by demand and supply at any given moment. His old Bitcoins have appreciated in value over time, but the intrinsic equality of each Bitcoin means they are equally valued now as newer Bitcoins. Essentially, Odler Hodler might be celebrating the idea that even though his bitcoins are older and bought at a lower price, in today's market, they're worth just as much as any new bitcoins. This shows how Bitcoin has appreciated in value, and he benefits from its market-based valuation system.",
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