NFTs
NFTs
Out of context: Reply #521
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- drgs5
I still dont know what fungible means
- fungus (plural: fungi)babydick
- Fungus is Among Us!utopian
- mutually interchangeableutopian
- It means if u buy 1 k/w of electricity from ur electric company for 1 euro, they could swap out that 1 k/w of electricity with any other, it wouldn't make anycherub
- difference to you, because the kilowatt wasn't unique or special.cherub
- It was fungible.cherub
- Why would they swap it?drgs
- They don't swap it, or better, there's no difference anyway so you'd never know which kilowatt of electricity you are getting bcuz they are all the same.cherub
- Sort of like a £1 coin has the same value, at least in theory, as another that comes off the mint at the same time.cherub
- When you're bench pressing 100kg you don't care what specific weights you're putting on.palimpsest
- Your gym neighbor may be using the red weights while you're using the black ones. You're still lifting 100kg, that's fungible.
Hope that helps.palimpsest - Got it✍drgs
- So, Bitcoin is fungible?drgs
- No, Bitcoin is not fungible, they leave a trace. I think people would like them to be fungible.palimpsest
- In the end nothing is fungible, it's about how we decide to treat objects (physical or not).palimpsest
- And that's why NFTs seem really smart for some and really stupid for others.palimpsest
- Those red weights could become non fungible because you decide they make you stand out more and that's the value you assign to them.palimpsest
- I understand now. If the biggest meatheads in the gym use red plates, I want to use them too, thus black and red plates, both 20 kg, are not fungibledrgs