no! BitCoin is a commodity, not a currency. The process of generating new BitCoins is even called mining! As for using "money" to "buy" things. That definition makes almost every object in the world money
Really!!! If this is told by you and in the way write by you for sure is true. Cannot be never wrong. Then the examples given by you which argues your convincing thought are devastating. No one of those cannot be put in discussion. Are the end of everything.
But lets go to the facts. According to Investopedia
http://www.investopedia.com/terms/c/commodity.asp :
1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often used as inputs in the production of other goods or services. The quality of a given commodity may differ slightly, but it is essentially uniform across producers. When they are traded on an exchange, commodities must also meet specified minimum standards, also known as a basis grade.
2. Any good exchanged during commerce, which includes goods traded on a commodity exchange.
So,
according to zenitzz,
we have a basic good that is interchangeable with other commodities of the same type. It is clear that bitcoin is a commodity because all the things bought with it are of the same type of it. All the computer bought at Dell with bitcoin, all the xBox bought at Microsoft with bitcoin and all the other things bought at internet with bitcoin (porn, movies, gambling etc.) are at the same type with bitcoin. Have its qualities (so with all of those can be bought everything) and are an invention of a peer to peer technology. More convincing arguments than the above zenitzz cannot find.
Then,
always according to zenitzz,
commodities are most often used as inputs in the production of other goods or services. Sure, zenitzz learn to all us that bitcoin is used widely to produce all the above things bought by it. So bitcoin is used as input in the production of computers, xBox, in the producing of porn, movies, gambling etc. Who of us have not tasted a very good porn make and played from bitcoin itself. Another undeniable argumentation made by zenitzz.
For me are enough those arguments to not go further. Who want to go forward can continue with the other arguments made from this brave, sure and deep cognitive of bitcoin.
Maybe needed to do ever one definition which fulfill the above argumentation of zenitzz and without which can be created some doubt about everything written above. What is the meaning of good.
According to Wikipedia
https://en.wikipedia.org/wiki/Good_(economics) :
In economics,
a good is a material that satisfies human wants and provides utility, for example, to a consumer making a purchase. A common distinction is made between 'goods' that are tangible property (also called goods) and services, which are non-physical.Then always according to Wikipedia
https://en.wikipedia.org/wiki/Tangible_property :
Tangible property in law is, literally, anything which can be touched, and includes both real property and personal property (or movable property), and stands in distinction to intangible property.
The big zenitzz tell in this case only one important thing which is a devastating argument in support of its inspiring theory:
bitcoin is a good (commodities) which is a tangible property: so which can be touched (as it is written in the above definitions).
Who of us have not touched with him's hands the beautiful coin (commodity) named BITCOIN.Good work zenitzz. Can't wait others convincing affirmations like the one written in your quoted post by me. With the same determination and security. And even with the other explanations make in my post.
