4 ms·

"Does the price prove that bitcoin has not failed?" Does the price of a painting determine it is a good painting? Afaik not.

• imaginenore 9y ago
  It proves it's a desired one. Which is a very important quality for a currency.
  • thinkMOAR 9y ago
    I learned different things in economics than. I learned about, scarcity, fungibility, divisibility, durability and transferability to be the main properties of a currency, not a desired factor of any case, afaik thats just a quality of humans, called greed. Just because some people want something, doesn't make it a good currency. To stay in the same metaphor, I'd like to own the Nightwatch of rembrandt, just as many others do, still doesn't make it a currency or even gives it properties of 'currency'.
    • imaginenore 9y ago
      These properties are not mutually exclusive. But desirability is a required one for a good currency. I agree that those other properties are important too.