Worth a read; h/t @belcher
this is an oft-discussed scenario, I tend to think it will be a less significant effect than portrayed in this article; I am probably influenced by the history of bitcoin; I haven't seen evidence that prices are ever lower outside centralized exchanges (the opposite?), seems mostly surmise, not data.
The author may be under-stating the importance of the perfect verifiability (and doesn't understand intrinsic fungibility).
@waxwing @belcher Yeah I agree. Gold is really a different beast. It takes a lot of expertise to validate a bar of gold. Especially to the level of 98% vs 99.5% purity. So it makes sense to have a business around doing that validation and have an ecosystem built around that business so that validation doesn't need to be repeated. #Bitcoin doesn't suffer anything alike.
I don't believe people will care too much about the history of coins. If questions are asked for some coins, there's mixing ;)
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