What am I missing? And why does everyone seem to want Bitcoin to be a currency when it's far better off legally with an official definition in the realm of general commodity? (oil, cattle, tulip bulbs) No country in the world is going to be particularly receptive legally or otherwise to direct competition with their local Currency. (with a capital C)
Cheers.
Because that's where it is headed eventually (a currency) so I'd prefer that we (society) just concretely define it as a currency and then everyone knows where they stand and can build based on that.
Right now no one knows where Bitcoin stands, it could be a commodity, a currency, a meaningless play thing...? Once it is clearly defined then you can clearly work within that framework, without building a business and then finding out that the definition has changed on a whim and your business model is no longer viable.