Bitcoin is NOT a currency!
In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?
If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!
What do you think?
In it's simplest form it is just payment rails. Stop thinking about is as currency and what is left to regulate?
If a merchant selling a pair of jeans for $250 accepts a 1 bitcoin and customer 2 weeks later asks for a refund with a value of a bitcoin going up to $300. Is he going to get 1 bitcoin back or a value of the jeans he bought? Naturally, the value, which means 3/4 of a bitcoin at the time of the refund. So, how does it make bitcoin a currency. ITS NOT!
What do you think?
Yes right now it does not resemble a stable currency. I see it currently as a paradigm shift in the history of wagering. It's almost exclusively used for gambling, and speculating on its own value. Never before has there been such a pure form of wagering in history. So forget about examples where you buy jeans! Instead you can short your shorts! You can buy some shorts (clothing that is) right before you think something will happen that will lower the price of a bitcoin, then wait and if it falls, return your shorts, and get the usd value of the shorts you shorted (in bitcoin) in return. Welcome to the future
