Quote from: wobber on January 04, 2015, 07:38:54 PM

Quote from: markj113 on January 04, 2015, 07:35:04 PM

short translation - the BTC im hoarding in a cold wallet isnt going to make me rich as I expected.

BTC was meant to be a currency and thus spent, traded, gambled and used not just stashed away until the price went to the moon making all early adopters overnight millionaires.

Show me a currency that suffered such massive image loss and I'll call bitcoin a currency. Until I'm calling bitcoin 'bitcoin'. Not a currency, not a stock, not a commodity.

Thats easy to answer.. Try the Russioan Rouble which recently dropped 40%!!!!

I agree that Bitcoin is not a currency and will not be recognised until the Market Cap is way Higher and the masses recognse it. I would suggest that at least 5 to 10 years away.

I disagree with you that its not a commodity though because thats how it is being traded. If we go back to basics then it is similar to gold which started off as a precious metal, evolved to a commodity,then evolved to almost a currency and then reverted back to a commodity.