Fungibility Graveyard

Documenting fungibility fails.

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Last Notes

2026-03-23 11:16:07 UTC

Non fungibility + permission = CBDC
https://stables.rip/

2026-03-11 10:35:03 UTC

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Because privacy enables fungibility, and fungibility is a fundamental property of good money? When units of money can’t be traced or judged by their history, they remain interchangeable and that’s what makes money work.

2026-03-11 10:10:13 UTC

According to KYC.rip, roughly 1 million USD in stablecoins on the two largest networks, Ethereum and Tron, have been frozen every day on average since 2020. Pace is accelerating.

2026-03-11 09:24:30 UTC

The Stablecoin Graveyard by @nprofile…u6up is a reminder of how bad things have already become.

2026-03-10 15:50:38 UTC

Fungibility means that each unit of something is interchangeable with any other unit of the same thing.
For example, if you borrow 10 USD from a friend, they don’t expect the exact same bills back. Any 10 USD will do. Cash is fungible because every dollar is treated the same as every other dollar.
If some dollars were refused because of where they were used before, those dollars would no longer be equal. When that happens, your money loses fungibility because some units are treated differently than others.

2026-03-10 15:42:55 UTC

No better way to start this account than with a philosophical question: can fungibility truly exist? What if perfect fungibility is impossible? If fungibility is supposed to be a fundamental property of money, what does that mean? Is true money impossible or is fungibility simply a matter of degree?
https://blossom.primal.net/366401ce6950464f1315a9e36fa2a6e731a30114877b558cc77bd12a5b557485.png

2026-03-10 10:50:02 UTC

New account documenting fungibility failures in Bitcoin and other cryptocurrencies.