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How is it more like cash than a commodity? I can't directly take bitcoins or gold or copper and purchase anything at my local wal-mart. Since the car analogy di
by oijaf888 13y ago
How is it more like cash than a commodity? I can't directly take bitcoins or gold or copper and purchase anything at my local wal-mart. Since the car analogy didn't work for you, lets say I contract someone to buy 1 oz of gold/platinum/etc at a specific price. They don't deliver, are they falling afoul of funds transfer laws or is it a contract dispute?
- thedufer 13y ago> I can't directly take bitcoins or gold or copper and purchase anything at my local wal-mart. You can't do that with Euros, either (assuming you're in the US, otherwise s/Euros/USD/). But that's obviously closer to cash than commodity. There are merchants that accept bitcoins in return for goods. You're just purposefully avoiding them in your argument.
- oijaf888 13y agoThere are merchants that accept gold in return for goods too, but we don't consider all gold transactions to be money transfers do we?
- thedufer 13y agoMy point was not that bitcoin is a currency. I happen to believe that, but I didn't argue that. My argument was that the definition you were using in order to show that bitcoin isn't a currency was flawed.
- fleitz 13y agohttp://en.wikipedia.org/wiki/Bitcoin http://en.wikipedia.org/wiki/Bitcoin It seems that the overwhelming popular opinion is that it's a digital currency. According to Coinbase: Bitcoin, safe and easy. Coinbase is an international digital wallet that allows you to securely buy, use, and accept bitcoin currency So pretty much everyone agrees that bitcoin is a digital currency.