Retail Crypto Adoption Advances Amid Pandemic as Acceptance and Fungibility B...
While the rise in cryptocurrencies over the last year has been the source of excitement among advocates and consternation for its detractors, a look at prices alone hides the real value being unlocked within the ecosystem. Cryptocurrency’s Real Value Lies in its Use, Not Speculation With the pandemic weighing on the global economic outlook and confidence in legacy frameworks ebbing near an all-time low, crypto fills the void among investors, consumers, and merchants alike. While easy to look at the significant rise in crypto valuations as the harbinger of times to come,....
Related News
What is the essence of bitcoin fungibility and why is it so important? Fungibility refers to the concept that every unit or subunit remains equivalent and identical to any other unit or subunit. It is the property of a good or commodity whose individual units are capable of mutual substitution. For instance, one bitcoin is considered the same as any other bitcoin when it comes to price and acceptance. Gold bullion has fungibility with identical degrees of fineness or purity. Government paper cash has fungibility provided that the bills have not been marked or serial numbers have not been....
Fungibility, put simply, is the idea that every item in a set is worth exactly the same amount. In bitcoin, fungibility means that all bitcoins have the same value, regardless of who owns them or what their history is – and fungibility is extremely important to the success of a decentralized network. To understand why, we have to analyze how bitcoin's current limited fungibility is creating real problems in the marketplace. For example, it's common for exchanges and merchants to discriminate between bitcoins based on the owner or their history. An example is that exchanges will attempt to....
Fungibility is often held as a crucial characteristic of sound money. But what happens when money has a public record of every transaction, and morally questionable trades can be identified? Is bitcoin headed for a break in fungibility? The debate about whether Bitcoin is fit to be a currency rather than a payment layer between currencies is as alive as it has ever been. Many of these tensions about what Bitcoin is or should be have been aired and discussed during the blocksize debate and are ongoing. One essential element of a money which has not particularly been illustrated is how....
The fungibility of the legacy sound money has come under fire as Western nations seek to delegitimize gold mined in Russia.
The cinema operator has expanded its plans to accept crypto payments for movie tickets with the inclusion of Ether and Litecoin. AMC Entertainment will not only accept Bitcoin (BTC) payments for movie tickets by the end of 2022 but will also include other popular digital currencies in its crypto acceptance policy.Tweeting on Thursday, the company’s CEO, Adam Aron, announced plans for AMC to accept three other cryptocurrencies — Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).As previously reported by Cointelegraph, AMC initially unveiled plans to accept Bitcoin payments for online movie....