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I would suggest that it is both, as I don't think the two are mutually exclusive, and with the way commodity and currency exchanges operate the lines are defini
by cdrux 13y ago
I would suggest that it is both, as I don't think the two are mutually exclusive, and with the way commodity and currency exchanges operate the lines are definitely blurred.
As for your particular examples; commodities have always been used as a means of purchase whether by way of trade, barter or as a currency substitute (gold, silver, etc). The trade of commodities are protected by law. And currency volatility ranges with some currencies being highly stable and others hugely volatile, more so than most commodities.
So trying to bucket bitcoin like this doesn't seem to be worthwhile. I think the better discussion would be whether or not bitcoin should actually hold any value.
- iuguy 13y ago> I think the better discussion would be whether or not bitcoin should actually hold any value. An interesting point. Do you think that it should hold any value?
- cdrux 13y agoAt this point there is nothing to me that would suggest that it should. Obviously over time the idea of a true international currency would be beneficial. But something like bitcoin that was created by a random individual with no government support, no inherent or scarce value shouldn't be able to hold value. To me it is irrational to put money behind bitcoin, it's a bubble like the Dutch Tulip Mania from the 1600's. No reason for it, and it won't last.