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Paired with SOL| $0.040.00% | |
 lowwhale16210 | $0.000.00% |
 A43qVD | $0.000.00% |
 hjjaz1 | $0.000.00% |
 fjfjfbhf | $0.000.00% |
 sadoctopus12521 | $0.000.00% |
 illdolphin14119 | $0.000.00% |
 babitev | $0.000.00% |
| $0.000.00% | |
 5VmPJP | $0.000.00% |
 hello2222 | $0.000.00% |
 Chuk | $0.000.00% |
However, since bit gold is timestamped, the time created as well as the mathematical difficulty of the work can be automatically proven. From this, it can usually be inferred what the cost of producing during that time period was. Unlike fungible atoms of gold, but as with collector’s items, a large supply during a given time period will drive down the value of those particular items. In this respect “bit gold” acts more like collector’s items than like gold. However, the match between this ex post market and the auction determining the initial value might create a very substantial profit for the “bit gold miner” who invents and deploys an optimized computer architecture. Thus, bit gold will not be fungible based on a simple function of, for example, the length of the string. Instead, to create fungible units dealers will have to combine different-valued pieces of bit gold into larger units of approximately equal value. This is analogous to what many commodity dealers do today to make commodity markets possible. Trust is still distributed because the estimated values of such bundles can be independently verified by many other parties in a largely or entirely automated fashion. In summary, all money mankind has ever used has been insecure in one way or another. This insecurity has been manifested in a wide variety of ways, from counterfeiting to theft, but the most pernicious of which has probably been inflation. Bit gold may provide us with a money of unprecedented security from these dangers. The potential for initially hidden supply gluts due to hidden innovations in machine architecture is a potential flaw in bit gold, or at least an imperfection which the initial auctions and ex post exchanges of bit gold will have to address.