4 ms·
> Currency is simply the means of transfer for wealth but not all wealth needs to nor can be represented by currency. My definition was very naive, I realize i
by mojuba 6y ago
> Currency is simply the means of transfer for wealth but not all wealth needs to nor can be represented by currency.
My definition was very naive, I realize it now. So cryptocurrency can not call itself currency, correct?
People can trade crypto and NFT all they want, or they can exchange crypto or NFT's for pizza or the other way around. However, calling it a currency and making it convertible to fiat money creates an illusion that crypto is another currency just a bit too volatile (and a lot of people believe that it will pass as cryptos will eventually stabilize, which is likely wrong).
I think we should just stop calling it currency and thus put an end to a lot of confusion and unhealthy speculation.