Quote from: TIDOVEE on April 04, 2017, 09:09:32 PM

Quote from: chaord on September 21, 2010, 05:46:20 PM

+1 agree that it is not money. However, if it was a pure commodity then it would necessarily require some (even minimal) use value, beyond an exchange value. Right now bitcoins have a 0% use-value and a 100% exchange value (eg, if they could not be exchanged for something else, they would merely be taking up space on our harddrives and are inherently useless, like random chunks of data).

Money is a currency, not all currency is money.
Bitcoin is not money but it is a currency

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This is a clear explanation on the difference of bitcoin and money and it is very simple and I salute you on that. Making things simpler is much understandable rather than reading a long complicated line full of technical terminology which is a pain in the head. But even though bitcoin is a currency as long as it is backed up by money it has earned a value.