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If you want to view BTC as a commodity, it does look very boiler-room-y. If you want to view BTC as a currency, it doesn't look that way... IMO.
by pnathan 15y ago
If you want to view BTC as a commodity, it does look very boiler-room-y.
If you want to view BTC as a currency, it doesn't look that way... IMO.
- joe_the_user 15y agoUh, BTC appears entirely dysfunctional as currency. "currency refers to a generally accepted medium of exchange." http://en.wikipedia.org/wiki/Currency http://en.wikipedia.org/wiki/Currency BTC is neither generally accepted nor does it have the STABLE VALUE needed to become more accepted as a medium of exchange. And last element is something the Bitcommunists just utterly miss. Because a currency is medium, just a means, it will not function unless its value is stable. Not decreasing OR increasing. Whenever the BTC shills tout the increasing value, they've accomplished the old "switch-a-roo" from currency to speculative commodity.
- pnathan 15y agoWell, as a currency, for it to 'increase in value', it needs to be more broadly accepted. That would increase ability for people to use it. But currencies are also dual-purposed as commodities (c.f., forex traders).