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Cryptocurrencies are a currency that people are using as an investment. > Conversely, can I pay for said surgary drink in DodgeCoin? Well no, you can't, but no
by Sohcahtoa82 4y ago
Cryptocurrencies are a currency that people are using as an investment.
> Conversely, can I pay for said surgary drink in DodgeCoin? Well no, you can't, but not for the same reasons. Starbucks doesn't have the facilities to accept DodgeCoin
I can't pay for my Starbucks in the USA using Euros, but that doesn't make the Euro not a currency.
IMO, anybody trying to call a cryptocurrency a security is arguing in bad faith. A security has to represent something of value. A stock gives you a tiny fraction of ownership of a company. Cryptocurrencies give you nothing. They have no underlying value.
- cheeze 4y agoThis turns into a philosophical argument too quickly though. Some would argue that because of fractional reserve banking, money has no underlying value either. I disagree with you here, I think a _vast_ majority of people actually purchasing cryptocurrency are doing it as an "investment vehicle", regardless of whether it has inherent value or not. They are treating it very much like a security.