Quote from: mad3 on May 18, 2017, 12:09:21 PM

I do not consider gold to be money. You can't go and buy most goods and services with gold. Gold is a commodity, dollars are money. Bitcoin is a virtual currency. It has more in common with paypal than it does with dollars or with gold. I wouldn't really call it money until it is more widely accepted as payment for goods and services

All your points are debatable

First, gold is not money only in the established sense of the word. It is not used as money (i.e. as a means of payment), so it is not money, as simple as it gets. Nevertheless, it could be said that gold is money in retirement, and likely only temporary one. Many governments (especially those of developing countries like India or China) are hoarding gold like there's no tomorrow. Why are they doing that? Because they know that if shit hits the fan, no one will give a single fuck about their currencies but everyone will like their gold. And then gold will shine again as an international money. Further, I don't think that Bitcoin is like PayPal. Yes, it is a payment system, but you don't transfer dollars or whatever with it, it is an integral part of Bitcoin as such, so there is no valid and plausible reason to say that it is like PayPal just because it is a payment system in its own right. Otherwise, I could just as easily claim that cash is like PayPal (since it is also a payment system in and of itself)