4 ms·
That's still money, it's just different currencies. Money (or currency) is something that is widely accepted to have value not from its inherent properties but
by x220 7y ago
That's still money, it's just different currencies. Money (or currency) is something that is widely accepted to have value not from its inherent properties but because it is accepted everywhere in a transaction. If something is difficult to exchange quickly with most exchange partners (e.g. taking days to transfer stocks from you to a gas station) then it's either not a currency or its a bad currency. Bitcoin and other cryptocoins are "sort-of-currencies" because you can't practically use bitcoin and stop using USD. This is why the SEC is starting to treat crypto like a security.