Topic: Bitcoin is a commodity rather than money (Read 804 times)
Bitcoin is money, it isn't a commodity its simply a safe store of wealth which we have forgotten that was was what money was susposed to serve as as well before mass printing, inflation and unstable economic systems.
I also see Bitcoin becoming more of a way to transfer large sums of money cheaply
But unfortunately the transaction times make it far to slow to ever become truly mainstream for most merchants and impatient people.
In a perfect world a Coin would need to get down to sub 15 second confirmations to become widely accepted
Andy
But unfortunately the transaction times make it far to slow to ever become truly mainstream for most merchants and impatient people.
In a perfect world a Coin would need to get down to sub 15 second confirmations to become widely accepted
Andy
And? Isn't Hashtalk the paycoin circlejerk?
People are not buying bitcoins so that they can buy stuff with it (with the exception of illegal stuff). Bitcoins are an easily exchanged commodity, people buy it because it's a way of storing money.
Paycoin is a Paycon.
Paycoin is a Paycon.
Funny that you should say this. The US government has passed a law, with nary a mention in their Mass Hysterical Media, that cash in the bank (deposits) is now a commodity and can be used to bail the banks out. The USA has been Cyprused in advance: http://www.theguardian.com/business/2014/dec/10/congressional-budget-big-bank-bailouts
I could see that.
Lumber is a commodity
Of which baseball bats are made from. Sugar Maple is a nice hard wood.
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People are not buying bitcoins so that they can buy stuff with it (with the exception of illegal stuff). Bitcoins are an easily exchanged commodity, people buy it because it's a way of storing money.
Paycoin is a Paycon.
Paycoin is a Paycon.
Funny that you should say this. The US government has passed a law, with nary a mention in their Mass Hysterical Media, that cash in the bank (deposits) is now a commodity and can be used to bail the banks out. The USA has been Cyprused in advance: http://www.theguardian.com/business/2014/dec/10/congressional-budget-big-bank-bailouts
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I just bought 3 btc so I could make a transfer overseas and pay far cheaper rates. Btc is used for more than just a commodity, but I do think your are right that it is mainly a commodity.
No crypto has made the leap yet from commodity to currency, but in a year or two Bitcoin might.
For the most part other than Bitcoin and maybe Litecoin, no other coin is even a decent commodity yet, more just like cheap pumps.
No crypto has made the leap yet from commodity to currency, but in a year or two Bitcoin might.
For the most part other than Bitcoin and maybe Litecoin, no other coin is even a decent commodity yet, more just like cheap pumps.
People are not buying bitcoins so that they can buy stuff with it (with the exception of illegal stuff). Bitcoins are an easily exchanged commodity, people buy it because it's a way of storing money.
Paycoin is a Paycon.
Paycoin is a Paycon.
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