I don't think cryptos fit perfectly into either category, they are a sort of commodity that can function as currency.
Edit: changed 'btc' to 'cryptos'
Topic: POLL & Discussion: Cryptos are not a currency, they are a commodity (Read 428 times)
February 04, 2014, 02:41:56 PM
February 04, 2014, 02:26:56 PM
I voted commodity as that is what I am currently using them for. Though I think both boxes are ticked in reality.
February 04, 2014, 02:04:54 PM
Argumentation for seeing Cryptos (e.g. BTC) as a Commodity:
- The supply is limit, e.g. like oil
- You can not create more of them, you can only mine more of them, e.g. like Gold or Diamond. You can of course create a new Crypto, but the supply of the crypto can later not be changed; a maximum set amount wil exist
Due to the digital nature of Cryptos, it is very easy to use them for exchange purposes and they can from that perspective be seen as a currency, but ultimatly they are not. They are commodity that is very tradable.
Counter arguments?
- The supply is limit, e.g. like oil
- You can not create more of them, you can only mine more of them, e.g. like Gold or Diamond. You can of course create a new Crypto, but the supply of the crypto can later not be changed; a maximum set amount wil exist
Due to the digital nature of Cryptos, it is very easy to use them for exchange purposes and they can from that perspective be seen as a currency, but ultimatly they are not. They are commodity that is very tradable.
Counter arguments?
Jump to: