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> monetary system Bitcoin is not even close to being that nor it ever could. It's entirely a speculative assets not an actual currency (I couldn't think of a t
by qwebfdzsh 3y ago
> monetary system
Bitcoin is not even close to being that nor it ever could. It's entirely a speculative assets not an actual currency (I couldn't think of a token/system less suitable to be used as actual money even if I tried very hard).
- sph 3y agoUgh. I initially wrote currency, but knew I'd get a pedant to disagree with that definition, which I did get anyway. You're arguing its legislative and societal role, I'm calling it for what it is: a thing whose primary role is to store and exchange abstract, agreed upon value. Just tell me what to call that.
- RandomLensman 3y agoMaybe it could be called a non-productive asset in the broader sense?
- Hamuko 3y ago>Just tell me what to call that. Just roll with Satoshi and call it "electronic cash".
- qwebfdzsh 3y ago> a thing whose primary role is to store and exchange abstract, agreed upon value. To be fair that's a hard one. Token? Speculative asset? I mean it's closer in most ways to stuff like gold coins or diamonds than real money. > role is to store and exchange abstract, agreed upon value Yet most people only buy it and/or hold it entirely for speculation/"investment" reasons.
- kiitos 3y agoBitcoin is almost never used as a currency in the sense that you're describing. It is almost always used as a vehicle for (unregulated) speculation.
- rojcyk 3y ago[dead]