Post
Topic
Board Bitcoin Discussion
Re: Local exchange and stabilization
by
chaord
on 23/08/2010, 09:09:07 UTC
I feel like the commodity vs currency argument is somewhat cyclical.  Many finance professional would consider the USD as a commodity for analysis purposes.  On the other hand, I tend to think that an ideal situation is where local physical transactions utilize whatever commonly accepted local currency (whether it be USD, bitcoins, or some other community currency) and if I can have my debit card and bank exchange in and out on the fly.  When people ask me why my purchasing power always seems to be going up, I can tell them about the commodity aspect (scarcity) of bitcoin.  When they ask me how I'm able to purchase whatever, wherever I want, I can give them the currency exchange aspect.  That would be my utopia Wink