Quote from: solex on May 20, 2013, 11:58:03 PM

agentbluesceen, I apologize if was excessively flippant, but I do believe that your credit-based definition of a bitcoin unit is wholly incorrect. However, many people have been confused about its status, partly because bitcoins are/have been evolving into money as an organic process since 2009.

I urge you to take the time to read the following thesis which considers the term "commodity-money", but recognizes that bitcoin is on the road to becoming a fully-fledged currency.

http://dev.economicsofbitcoin.com/mastersthesis/mastersthesis-surda-2012-11-19b.pdf

In fact I think it has reached the point where it is clearly a powerful new type of money with inbuilt currency and payments systems.

Well the Austrian national-socialist "economizers" still don't understand the fundamental difference between a mere, inanimate 3rd rate Commodity-pile of too much of some "wealth" (Medium of Savings Commodity) and the Prime Resource value of a "money" (Medium of Labour-Resource Exchange), nor do they recognize the crucial moral difference between loving and growing goal-oriented economies of Our human families and the ever-decaying soullessly bestial enslavement-oriented corporate monopolist ones.

According to the stupid Austrian fascists, the various commodity-crud of their world just gets up and "does itself all day" (medium of exchange) necessitating a "money commodity" to replace/substitute for the commodity-junk that other commodity-junk "doesn't want or need".

I can assure you that without the Prime Resource of labour, no commodity-thing ever gets up or does anything to anything, by or for anyone, with anything or without anything and there is and can be no such thing as "economics". Their emptying, Malthusian zero-sum philosophical planet is one where ennobled carts of "their crap" are pushed around for them by "so-many" disposable horses.

A "money" is a reasonably stable-valued, standardized Medium of Labour Resource Exchange token - period!

You can exchange anything with anything, that doesn't make either of them a "money". A "money" is the token of human Labour Resource Exchange-Value that humans pre-agree to get paid in for the private properties of works that humans perform, so that humans can choose what humans want or need to obtain out of it's human Labour Resource Exchange-Value afterwards.

A "money" is not just "some commodity" it is The Prime Resource Token of the human value of the Prime Resources of every economy. It is the token of measure of the property values of it's people's labour-properties.