Recently I have read a debate if Bitcoin is a currency or technology. It stated there that it is a technology stock and not a currency since the governments have not approved it as a currency. I wanted to know your opinion in this debate. Is bitcoin a currency, or isn't it?
heres a lesson...
currency is an umbrella term that covers many things..
it can be cigarettes traded in prisons, it can be vodka, art, it can be anything that one person wants and another person has and they agree to trade.. it does not need government approval.
'money' however, is the government stuff they force people to use based on tax laws and minimum wage laws that make it the dominant and compulsory form of currency..
so.. lets give a better comparison.. gold vs bitcoin:
gold is a natural resource
bitcoin is a technology ledger
gold is a commodity
bitcoin is an asset
gold is a currency
bitcoin is a currency
both are not money (legal tender (government accepted for debts, court fines and taxes))