5 ms·
The 9 Characteristics that Make Bitcoin Money
- ggchappell 13y agoSome small disagreements. The writer seems to assume that fiat money necessarily refers to paper, and thus gives it a "neutral" rating for durable, portable, and storage. But if we think of fiat momey as credit extended by a national bank (in the U.S., the Federal Reserve), then I think it gets higher ratings in these categories. Also, I wonder about the "yes" given to bitcoin under "durable". If I drop a piece of gold, then someone can pick it up and use it. Now, I don't know much about the technical details of bitcoin, but I wonder whether it is possible to lose a bitcoin in such a way that no one could "find" it again -- at least not without solving some hard mathematical problem. Does anyone know?