Post
Topic
Board Economics
Re: Bitcoin is no longer a currency
by
bohr
on 18/03/2017, 01:49:59 UTC
https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/

An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!

The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.

I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.

Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.

What do you think?
All of the best store of value that we have have been currencies at some point and the same applies to bitcoin, but bitcoin is way better at being a currency than gold and silver will ever be, so I disagree with the notion bitcoin is not a currency.