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Title: Bitcoin is a commodity rather than money Post by: heskey on December 20, 2014, 02:27:29 PM 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. Title: Re: Bitcoin is a commodity rather than money Post by: The Chainmaker on December 20, 2014, 07:29:19 PM 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. Title: Re: Bitcoin is a commodity rather than money Post by: Sir Alpha_goy on December 21, 2014, 02:01:16 AM .
Title: Re: Bitcoin is a commodity rather than money Post by: Sir Alpha_goy on December 21, 2014, 02:03:44 AM .
Title: Re: Bitcoin is a commodity rather than money Post by: coinits on December 21, 2014, 02:08:34 AM 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. 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 Title: Re: Bitcoin is a commodity rather than money Post by: Sir Alpha_goy on December 21, 2014, 02:22:52 AM .
Title: Re: Bitcoin is a commodity rather than money Post by: coinits on December 21, 2014, 02:26:32 AM 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. 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. Title: Re: Bitcoin is a commodity rather than money Post by: kekek on December 21, 2014, 02:43:27 AM And? Isn't Hashtalk the paycoin circlejerk?
Title: Re: Bitcoin is a commodity rather than money Post by: Creampuff on December 22, 2014, 08:43:47 PM 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 Title: Re: Bitcoin is a commodity rather than money Post by: nextgencoin on December 22, 2014, 10:45:52 PM 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.
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