Doesn't all of this also apply to Gold? If you bought gold at $400 and then later again at $1000, then you could apply the same non-fungibility argument against it.
And yet, currency used to be redeemable into gold. Was it then not a real currency? Didn't the non-fungibility of gold also infect the currencies it backed, thereby making them non-fungible as well?
EDIT: of course gold backed currencies were fungible. In the same way, bitcoin is its own backed currency. And hence, also fungible. QED ;)
And yet, currency used to be redeemable into gold. Was it then not a real currency? Didn't the non-fungibility of gold also infect the currencies it backed, thereby making them non-fungible as well?
EDIT: of course gold backed currencies were fungible. In the same way, bitcoin is its own backed currency. And hence, also fungible. QED ;)