Bitcoin is NOT a currency debate!

[Sir_lagsalot]

Bitcoin is NOT a currency!

In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?

If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!

What do you think?

Well, if you pay the hundred dollars for jeans, and your currency goes up, you will get three hundred when you refund he jeans. Ur logic is weird :'|

[saturn643]

Bitcoin is valuable as any other currency. Just like Dollars have value and usage now because we think they're worth that much.

[n2004al]

To tell the truth for me is more store of value than currency or money. I am not using bitcoin at all. Not to buy something, not to trade, not to gamble. I am store it with the hope that its value will increased in time and I can earn much more when this value will be hundred time more.

But I think that bitcoin is money. As someone told above with it can be bought goods. Many merchants (including big producers like Microsoft, Dell, etc) give their products for bitcoin. In the modern world is not used clering so if those give their products when the people give bitcoin then bitcoin without doubt is money.

[Blawpaw]

Bitcoin is NOT a currency!

In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?

If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!

What do you think?

Putting it that way... it got me confused for a moment. But when you think of it, we only need to deconstruct your own post. If it wasn't a currency why the hell would the seller even accept bitcoin for that purchase?? Simply because bitcoin its currency as well as it is a payment system. So it's more as a commodity that has all the features to be a currency as well as a payment system. You could even think the same about gold!

[SebastianJu]

If the volatility would be a criteria to make bitcoin NOT a currency then where is the threshold? Every currency is volatile. Some more some less. So making a threshold there would be fully arbitrary.

Bitcoin clearly is a currency.

I once discussed with someone who claimed currencies only are currencies when they are backed by a state.