It's a technology used as currency by the community.
I like the idea of mining in bitcoin, it's like mining some gold in other way. So i think bitcoin is a commodity.
Yes what you said is correct. Bitcoin can be considered as a commodity or technology but no way a currency.
Well in my opinion BTC is not only a technology but a disruptive technology it’s probably the greatest innovation in money since coinage.
By the paragraph above it should very obvious that I consider BTC to be money(not currency that is something else) And by the way Gold and Silver are also money.
gold, silver and bitcoin are all taxed as capitals though, in the eyes of the law. All the gains from the increase of their value after purchasing it is considered as capital appreciation, ofcourse laws are different depending on place to place in the world, but it is obvious that fiat is the most widely used mode of payment right now, there are a lot of factors which decide what really is money, so I am not sure gold and silver are really money
All what you wrote is true and your logic flawless. But I see it in a different perspective.
Gold, Silver and Bitcoin fit the characteristics of money, so to me, it doesn’t matter what the governments of world say, since the three fit the definition.
However, the three have the same problem: adoption. But this could change very rapidly if TSHTF, since Gold and silver have a long history of being money we could see the reemergence of currencies backed by gold, silver or both. But I don’t think we’ll ever see a world were you can go to the grocery store and buy stuff with a gold or silver coin. And this is why Bitcoin is so revolutionary; I do think that we’ll see a future in which you can buy anything with Bitcoin, so in essence Bitcoin will become the equivalent of electronic gold.
But of course that’s my opinion.
