Quote from: franky1 on April 11, 2017, 12:49:30 PM

the commodities markets are about raw materials that are sourced and marketed to later be used to make other produce.

Just because you've heard some nonsense in school, read on Google, or where ever, doesn't make it logically consistent.

Any way, I understand it is pointless to have a discussion with someone who can't even phrase his argument cogently, nor in the context of the generative essence criteria raised in the OP.

Quote from: franky1 on April 11, 2017, 12:49:30 PM

things like gold. although it sits on a commodity market. it can also sit on other markets too.
like asset markets

You shouldn't conflate perishable commodities with commodities in general, i.e. commodities is a superset of perishable commodities.

The better fit a commodity is to the definition I provided in OP, the more utility it has for money (i.e. assets aka store-of-value and unit-of-account for settlement), although money is more ideally those commodities which have very low or no utility for anything other than money.

Quote from: franky1 on April 11, 2017, 12:49:30 PM

now here is the thing. because bitcoin has certain 'features' that resemble golds ASSET features. does NOT make bitcoin pass the test of the "commodity" market test.

bitcoin is an ASSET currency. not a commodity.

You're confused. Try reading what I wrote above and think about the logical consistency of subsets and supersets for taxonomy.

There are many things which are assets, which are not fungible and don't have the properties of a commodity per the definition I provided. You're conflating assets with commodities. Assets and commodites can partially overlap on a Venn diagram, but they are neither subsets nor supersets of each other. Thus your taxonomy is logically inconsistent. For Bitcoin to be only an asset, then it would not possess all the features of a commodity, yet it does. Otherwise you need to argue that the features of gold which are not in common with other assets are not a commodity. Logic.

Since tangibleness and perishableness are not properties that are shared by all commodities, then they are not attributes of commodities. To reiterate, commodities are fungible goods in which no one entity has control over the supply. They key attributes that distinguish commodities from other goods is that they are fungible and that their supply is not a 3rd party dependency, i.e. we don't depend on any one company to get pork bellies, but we do depend on Microsoft for supply of the Windoze operating system. And for money it is most ideal if the supply is inelastic, which is another minor reason Bitcoin is better than gold for money.

The proof (as explained in the OP and requoted below) that tangibleness is not what gives gold its monetary attributes proves that tangibleness is not an essential feature of money. Again it is logic.

Quote from: iamnotback on April 11, 2017, 09:00:26 AM

Gold has nearly no utility other than as money. The ornamental jewelry demand (i.e. that people want to flaunt it) is because of the perceived value of gold as money. If we remove that perceived value as money, then the tangible material of gold would have no use and thus no value.

Quote from: iamnotback on April 11, 2017, 09:00:26 AM

The physical gold backing any gold ETF only has value because of the perceived monetary value of gold, of which Bitcoin has the same attributes. The physical gold would become worthless tomorrow if people decided that gold has no utility as a store-of-value money (and in fact this is coming because gold is inferior to Bitcoin and governments are intent on confiscation of physical assets and regulated assets such as bank money, stocks, and real estate).

Quote from: franky1 on April 11, 2017, 12:49:30 PM

now take a breather

take a breather i know your itching to reply

You haven't earned the cojones to write condescendingly to me. Do it again, and your post will be summarily deleted. This is your final warning.

Those who have something to prove about ego, are all elbows and acrimony and lacking of cogent substance.

You can learn to be respectful or you can leave. It is your choice.