Quote from: Epinnoia on June 23, 2011, 01:24:02 AM

Quote from: silverman on June 22, 2011, 10:18:21 PM

Bitcoin is not money, it is not cash, it is not dollars, it is not currency, it is not legal tender. These are buzzwords the Establishment uses to keep their franchises safe from competition.

It most certainly is a currency. It facilitates trade. That's what currencies do. That's why I gave the etymology of the word. It comes from the word meaning 'to flow' -- it permits trade to flow.

And unlike a commodity, it has no use other than to facilitate trade. Hell, I could argue that a US Dollar Bill is more of a commodity than a bitcoin is -- because if nothing else, I could light it on fire and generate heat from the paper. Or I could use them to wallpaper my room. Bitcoins have absolutely no other use than to facilitate trade.

One more attempt. Maybe somebody out there is reachable.

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Currency. Coined money and such banknotes and other paper money as are authorized by law and do in fact circulate from hand to hand as the medium of exchange. (citations omitted.) -- Blacks Revised Fourth

It continues:

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The term "money" is synonymous with "currency," and imports any currency, token, bank notes, and other circulating medium in general use as the representative of value. (citations omitted)

Don't argue with me. Argue with the guy in the black robe. Maybe he will be impressed with your knowledge of legal jargon. I'm sure not.

This is so unnecessary. All it takes is a rational survey of the terminology and issues, and an agreement on which terms are proper to describe Bitcoin.

But everybody is such an expert...