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Bitcoin is an alternative currency, really the only thing going up is the exchange rate.
by Phil987 9y ago
Bitcoin is an alternative currency, really the only thing going up is the exchange rate.
- wickawic 9y agoBut what makes something a currency? If in an alternate universe Bernie Madoff printed MadoffBucks and made agreements that you could use these as currency in some online stores and Pizza Hut, does that make it a real currency? Unfortunately I think the only way something becomes a currency is when a government calls it one.
- nicky0 9y agoIt may not be a currency, depending how you choose to define that word, but it is certainly a fungible asset and a means of exchange. It acts both as a store of value and as method of transferring value from one party to another.
- canoebuilder 9y agoI've not done a quantitative analysis, but it seems to have been more frequently ruled as some sort of asset or commodity https://www.google.com/search?q=bitcoin+ruled https://www.google.com/search?q=bitcoin+ruled Exchange rate, also known as 'cost,' is a form of value.