Topic: BitCoin is NOT a Currency - page 2. (Read 1169 times)
Bitcoin is a commodity. hehe.
BitCoin is NOT a currency. Any business is rolling the dice accepting BitCoin with how volatile the price is. With how rapid the price swings (mostly down), no logical business would/should accept BitCoin. No different than gambling. To my knowledge my dollar last week is still a dollar today, not true with BitCoin, you would have taken a hefty loss this week only!
Sorry I can't hear you over the white noise and the echos from the past when this was already discussed countless times all over the web...
The dollar isn't a currency either by your logic.
http://goldsilverworlds.com/wp-content/uploads/2012/07/US_dollar_purchasing_power_vs_gold_1774-2012.gif
http://goldsilverworlds.com/wp-content/uploads/2012/07/US_dollar_purchasing_power_vs_gold_1774-2012.gif
BitCoin is NOT a currency. Any business is rolling the dice accepting BitCoin with how volatile the price is. With how rapid the price swings (mostly down), no logical business would/should accept BitCoin. No different than gambling. To my knowledge my dollar last week is still a dollar today, not true with BitCoin, you would have taken a hefty loss this week only!
Actually, if you put it simply, BTC is more like stocks than money. The price fluctuates and your assets may lose value. It's price is driven by demand, like stocks.
Only, there isn't a company behind it...
And you can buy stuff. So it kinda reminds of money. What if you had Apple stocks, and you could buy a Mac with 0.5 of your MacCoins? Wouldn't that be money?
Oh, and your dollar isn't really a dollar... sure, the note/coin is the same, but it won't buy you the same amount of oil/gas/eggs/Euros this week and the next.
So, I guess dollars (and money in general) are kinda like stocks... right? Isn't that why you'd invest in a foreign currency?
Anyway, I don't really get the whole economy stuff, but I'm more interested in buying BTC than FaceBook stocks.
Hope my little brainstorming helps.
BitCoin is NOT a currency. Any business is rolling the dice accepting BitCoin with how volatile the price is. With how rapid the price swings (mostly down), no logical business would/should accept BitCoin. No different than gambling. To my knowledge my dollar last week is still a dollar today, not true with BitCoin, you would have taken a hefty loss this week only!
Your reasoning that it is not a currency is because it is volatile?
Have you seen the Yen recently? Or how about the NZD?
May 23rd: 103.73
June 13th: 93.80
Today: 100.00
If Bitcoin is for fools why did you make yet another topic about it?
Quote from: Wikipedia
A much more general use of the word currency is anything that is used in any circumstances, as a medium of exchange. In this use, "currency" is a synonym for the concept of money.
Bitcoin's used as a medium of exchange; it is both currency and money.
Unless you're saying Wikipedia is wrong. So let's try this again:
Quote from: Dictionary.com
cur·ren·cy
[kur-uhn-see, kuhr-]
noun, plural cur·ren·cies.
1.
something that is used as a medium of exchange; money.
[kur-uhn-see, kuhr-]
noun, plural cur·ren·cies.
1.
something that is used as a medium of exchange; money.
Damn, that's strike two. You should really go chase these guys and tell them their definitions are wrong, since, y'know, Bitcoin's not a currency, despite having the qualities which would define it as one.
BitCoin is NOT a currency. Any business is rolling the dice accepting BitCoin with how volatile the price is. With how rapid the price swings (mostly down), no logical business would/should accept BitCoin. No different than gambling. To my knowledge my dollar last week is still a dollar today, not true with BitCoin, you would have taken a hefty loss this week only!
To my knowledge, my bitcoin last week is still a bitcoin today, so GTFO.
BitCoin is NOT a currency. Any business is rolling the dice accepting BitCoin with how volatile the price is. With how rapid the price swings (mostly down), no logical business would/should accept BitCoin. No different than gambling. To my knowledge my dollar last week is still a dollar today, not true with BitCoin, you would have taken a hefty loss this week only!
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