Bitcoin Forum
July 21, 2018, 09:45:19 PM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [2017-05-2017]Bitcoin Is An Asset, Not A Currency[Forbes]  (Read 236 times)
Karpeles
Legendary
*
Offline Offline

Activity: 1106
Merit: 1000


View Profile
May 18, 2017, 03:01:51 AM
 #1

Over the past year and a half Bitcoin has been on a spectacular run, rising in value 140% in 2016 and now an additional 49% in just the past month. This surge in value has invigorated Bitcoin backers convinced this boost in value makes Bitcoin a more credible currency, that it is a sign of the cryptocurrency’s strength. Yet the wild swings, both up and down, in the value of Bitcoin do not make it a more plausible substitute currency; they make it a speculative asset, a get-rich-quick scheme.

Is Bitcoin the currency of the future? No. There are two big problems with bitcoin as a currency: its value is unstable and its transaction processing is too slow.

The most important feature of a currency is that it be a stable store of value. This credo, ably explained by Steve Forbes here (among many places), is vital for a developing country economy to attract the investment it needs. Even in developed countries, as John Tamny explained here on Forbes.com, a stable currency value is the key to investment because those who invest are expecting a stream of future earnings to earn back their investment plus some profit. Instability in currency values mean that an investor cannot accurately predict the value of those future earnings. This uncertainty makes investments less valuable; thus, less investment happens.

https://www.forbes.com/sites/jeffreydorfman/2017/05/17/bitcoin-is-an-asset-not-a-currency/#c3c0b392e5bc
1532209520
Hero Member
*
Offline Offline

Posts: 1532209520

View Profile Personal Message (Offline)

Ignore
1532209520
Reply with quote  #2

1532209520
Report to moderator
1532209520
Hero Member
*
Offline Offline

Posts: 1532209520

View Profile Personal Message (Offline)

Ignore
1532209520
Reply with quote  #2

1532209520
Report to moderator
fair bitcoin games | pvp - pve - solo pve games | faucet |
Free satoshi code btcoon500
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1532209520
Hero Member
*
Offline Offline

Posts: 1532209520

View Profile Personal Message (Offline)

Ignore
1532209520
Reply with quote  #2

1532209520
Report to moderator
1532209520
Hero Member
*
Offline Offline

Posts: 1532209520

View Profile Personal Message (Offline)

Ignore
1532209520
Reply with quote  #2

1532209520
Report to moderator
1532209520
Hero Member
*
Offline Offline

Posts: 1532209520

View Profile Personal Message (Offline)

Ignore
1532209520
Reply with quote  #2

1532209520
Report to moderator
1Referee
Legendary
*
Offline Offline

Activity: 1582
Merit: 1142

BTC PLS


View Profile
May 18, 2017, 01:14:05 PM
 #2

People for once should stop with putting a label on Bitcoin saying it is this or that, it's pointless. Bitcoin is whatever you want it to be - it all depends on how you use it. I personally use Bitcoin mostly as an asset tool, but there are enough people that use Bitcoin as currency tool. How can anyone then say that Bitcoin isn't a currency? Mind your own business...

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!