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> Bitcoin Was the Top Performing Currency of 2015 The functions of a currency are as a store of value, a unit of account, and a medium of exchange. So let's s
by Lazare 11y ago
> Bitcoin Was the Top Performing Currency of 2015
The functions of a currency are as a store of value, a unit of account, and a medium of exchange. So let's see, is this article saying that:
1) Bitcoin had the most stable value among currencies? Oh...no. Bitcoin's value was quite unstable.
2) Bitcoin was the most widely used currency? Oh...no again. Bitcoin is not widely used, and it's difficult to compare items using Bitcoin prices.
3) Bitcoin was the easiest to exchange for goods and services? Oh...still no. Bitcoin is not accepted by many merchants and service providers.
Apparently there's a new 4th role for a currency: Ability to let lazy journalists write misleading headlines. I suppose Bitcoin might actually be the best at that.
- narrator 11y agoIf you could pay taxes in Bitcoin then it would actually be currency, otherwise, it's just another commodity. You can live in the middle of the woods and barter and/or only use Bitcoin, but without USD you're still getting your stuff taken away and going to prison for tax evasion. Barter is taxable after all, and trading commodities is taxed via capital gains.