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If that's your mindset, then look at it like this: Bitcoin is a technology for shipping gold buillion equivalents to any remote location in the world in under t
by xorcist 11y ago
If that's your mindset, then look at it like this: Bitcoin is a technology for shipping gold buillion equivalents to any remote location in the world in under the hour, for the price of a tenth of a cent. Pretty nifty, is it not?
- lmm 11y agoNifty? Sure. Deserving different tax treatment from gold bullion? Nope.
- kbenson 11y agoMindset? I was simply providing a different, I think more accurate, interpretation of the anecdote presented upthread. The person was paid in bitcoin, but in this specific case, because of the circumstances, I think it's no different than if they were paid in some other easily fungible commodity, such as gold. I interpreted the usefulness in getting paid in bitcoin not that the worker now had an easily used currency, but that the worker now had a commodity that could be exchanged for a local currency to actually buy most things needed, and it was cheaper than dealing with the local currency exchange fees. Yes, it also points to the utility of bitcoin, but this specific example also points to it's use as a commodity, IMO. As it gains in popularity, I think it will gain more utility as a currency, but until then it's a currency of limited use (limited in that there are limited venues that accept it) except as a commodity.