What If One Bitcoin Isn't Like the Others?

While bitcoin's limited transaction capacity is no secret, day one of the ongoing Scaling Bitcoin conference in Milan served to assert that there is perhaps another stage of development that needs to take place before the network is ready for increased volume. Rather than focus on elements that have been given the most attention (most notably, the long-contentious block size), day one opened with discussions focused on the economic concept of fungibility, or the idea that no one bitcoin should be able to be deemed less valuable or less legitimate as a result of its past use or ownership.....