Post
Topic
Board Economics
Re: Bitcoin is no longer a currency
by
franco123
on 08/10/2017, 07:14:41 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?

Yes I get your point that it is more of an investment now instead of a currency. But that does not make it a stock. It it may not be a typical or regular currency but it is still a cryptocurrency or easier to be considerd as digital currency.

You have to remember that although Bitcoin is being used more of as an investment rather than for transactions, the regular or fiat currencies are also for investments. Anything witu volatile rates can be an investment and actually forex trading is more volatile and risky than stock trading.