[13036] in Cypherpunks
Re: Why Digital Cash is Not Being Used
daemon@ATHENA.MIT.EDU (Richard Johnson)
Wed May 4 14:21:43 1994
To: "Michael V. Caprio Jr." <mikecap@wpi.edu>
Cc: cypherpunks@toad.com
Reply-To: johnsonr@colorado.edu
In-Reply-To: <199405041620.MAA04197@coyote.WPI.EDU> from "Michael V. Caprio Jr." <mikecap@WPI.EDU> at "Wed, 04 May 1994 12:20:39 EDT."
Date: Wed, 04 May 1994 12:15:27 -0600
From: Richard Johnson <johnsonr@spot.Colorado.EDU>
From the keyboard of: "Michael V. Caprio Jr." <mikecap@WPI.EDU>
> BTW, what is fungible? I've seen this term used several times, but have no
> idea what it means.
When I don't know what a word means, I grab for a dictionary. :-)
If we're going to implement digital cash, we need to understand at
least the basics of monetary systems, and the terms involved.
Accordingly, the American Heritage Dictionary brings you:
fungible (fun-jih-bull) adj.
1. Law. Returnable or negotiable in kind or by substitution, as a
quantity of grain for an equal amount of the same kind of grain.
2. Interchangeable.
fungible (fun-jih-bull) n.
Something that is exchangeable or substitutable. Often used in the
plural. [Medieval Latin fungibilis, from Latin fungh (vice), to
perform (in place of).] - fungibility n.
Richard
