Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin money?
by
winterland
on 18/11/2017, 00:52:06 UTC
bitcoin is not money but asset like gold. not worth if use bitcoin for buy a things.
buy bitcoin invest bitcoin why buy money for money if bitcoin is money?
But gold is money as well, maybe people do not use it like that anymore but that is not important gold was used as money for a lot longer than any fiat currency and if people do not adopt bitcoin then it is very likely that gold makes a huge comeback when the fiat system collapses.
Gold is not money, it is an asset and you can convert it to money. Money is FIAT, Gold has value but you can not call it is money. Money can use to payment but we can not use Gold to that. Therefore, you need to know the difference between FIAT and asset.
yes gold is an asset that is now starting to decline demand because of the bitcoin
and gold must be exchanged with money first so it can be used in terms of purchase transactions
Bitcoin is slowly going to steal market cap from gold and that is a good thing bitcoin performs many of the functions of gold but without any of the drawbacks, to move gold you need have a way to secure it but to move bitcoin you only need to remember your seed words.