3 ms·
Not really. It is possessible (you possess the key that enables transfer), fungible, divisible, scarce, easily transferred. It has all of the basic qualities
by 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.