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I thought Bitcoin was more a store of value (e.g. analogous to gold) than a currency similar to physical cash? If so the problem becomes, is your personal secu
by raesene9 5y ago
I thought Bitcoin was more a store of value (e.g. analogous to gold) than a currency similar to physical cash?
If so the problem becomes, is your personal security up to defending attackers who want to take your pile of digital gold.
- jpmattia 5y ago> I thought Bitcoin was more a store of value (e.g. analogous to gold) than a currency similar to physical cash? Physical cash is money, and serves the functions of money (see eg https://en.wikipedia.org/wiki/Money#Functions https://en.wikipedia.org/wiki/Money#Functions) Bitcoin does the same. In the nascent crypto world, different areas are using this new money in different ways: The US currently tends to store of value. Other areas (Venezuela, El Salvador) are tending toward medium of exchange. In any case: OP's reversibility-of-transactions is a financial services function, not a "money" function.