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Can anyone make the case that Bitcoin has the three primary characteristics of money [1]: medium of exchange, unit of account, and store of value? Ignoring the
by joelhaus 12y ago
Can anyone make the case that Bitcoin has the three primary characteristics of money [1]: medium of exchange, unit of account, and store of value?
Ignoring the blockchain, this is why Bitcoin will fail. Bitcoin as a currency is inherently inflationary because as demand increases (which is the state of a healthy currency), the supply is relatively stationary. Therefore, a drop in Bitcoin value is indicative of a disproportionate drop in demand.
[1] https://en.wikipedia.org/wiki/Money#Functions https://en.wikipedia.org/wiki/Money#Functions