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That's not quite right. The case I'm tempted to make is that Bitcoin is a commodity useful for secure, private/anonymous interactions. It's virtual sure, but
by knowtheory 14y ago
That's not quite right.
The case I'm tempted to make is that Bitcoin is a commodity useful for secure, private/anonymous interactions. It's virtual sure, but the utility of a bitcoin is clear to its users and it is also inherent to its structure.
- samwillis 14y agoThats exactly my point, BitCoins utility is only that of providing people with a way to make interactions where one exchanges BitCoin for something else. That is its ONLY practical utility and what it was designed for. It it had some other utility as well then it would be a commodity but as it does not it is only a currency.