3 ms·

> When enough people come to think of something as money, it becomes money There are many more requirements than that for an artefact to become money Bitcoin

• apantel 3y ago
  Not really. It is possessible (you possess the key that enables transfer), fungible, divisible, scarce, easily transferred. It has all of the basic qualities of money.
  • hakfoo 3y ago
    "Has a clear core of acceptance" might be another big qualifier. For all meaningful fiat currencies, there's at least a moderately sized, easily definable, reasonably contiguous market that will accept the currency without a hassle. Even a stack of 5000KPW notes, you could take them to a shopping centre somewhere and spend them, although that shopping centre is in Pyongyang. Conversely, Bitcoin acceptance tends to be a few random scattered vendors, and technical obstacles (poor connectivity) make it harder still. Even in El Salvador, despite their attempts to make it a legal tender, you're not going to be able to reliably and seamlessly spend Bitcoin.