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Author Topic: I know Gold and Silver are money. Is Bitcoin money?  (Read 2410 times)
softron
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March 28, 2014, 02:22:23 PM
 #41

Bitcoin can and should be used as digital/internet currency

Satterfield
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March 28, 2014, 02:32:33 PM
 #42

How we can trade with Bitcoin?
Erdogan
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March 28, 2014, 03:42:11 PM
 #43

How we can trade with Bitcoin?

Go to coindesk.com and read.
mycoin25
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March 29, 2014, 05:49:13 AM
Last edit: April 12, 2014, 09:26:06 PM by mycoin25
 #44

You forgot the most important property - scarcity. Gazillions of crypto 'currencies' can be created at basically no cost, having identical properties and serving the same function as bitcoin. Infinite digits on a computer screen, yeah sounds a little like the USD.
Gold on the other hand is limited in supply and unique in color, shine and other physical properties.
No other coin can be Bitcoin, though, in the same way that tungsten isn't gold. Bitcoin has its own data, its own protections, and its own rules. You can't create an infinite supply of bitcoins (that is, you can't print yourself to a higher %total ownership), and I don't think you can lump all cryptocurrencies together for the same reason we don't lump all metal together. They all have unique properties and uses.
The value of money should remain stable, but the value of bitcoins is unstable.
coincoin3
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March 29, 2014, 06:03:09 AM
 #45

The value of money should remain stable, but the value of bitcoins is unstable.
You're right,Bitcoin value must be stabilized before it could become a currency.
iamahappyminer
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March 29, 2014, 07:47:00 AM
 #46

It depends on how you look on it !
If you look on Bitcoin as an instrument of payent (on of main role of money is to be payment instrument) when it is money, but on the other hand it is so unstable and the prices change as if it was shares of the company !
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