X @mert | helius.dev

first, money was goldthen, the state replaced it with paperafter, satoshi created digital gold, bitcointhis was a big improvement, but it was missing a core trait of real goldfungibilitya core property of gold is that it's fungible; you can interchange it with other goldbut once you add serial numbers and tracking, you can diminish the value and cancel it based on its historyin other words, without privacy, you can not get fungibility, and hence you can't fully replicate gold money at internet-scalethis was ...