I just can't help myself.

Quote from: smoothie on July 12, 2011, 08:32:44 PM

Quote from: allinvain on June 24, 2011, 10:00:26 AM

Quote from: chad on June 24, 2011, 09:57:12 AM

Quote from: allinvain on June 24, 2011, 09:32:02 AM

Dunno guys, but keep in mind that namecoins aren't "money". There is a bunch of namecoin threads so I first suggest you look at those.

BTC isn't money either but you can trade it for money. It all depends on the current market value of the asset you are trading for money.

Find the market value of bitcoin and namecoin then figure out how many you can mine each day (at current and projected difficulty levels), multiply by the price and you will have your answer.

That's where you're wrong. BTC IS money - it's just that it is a different type of money.

Quote

Money is any object or record, that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past, a standard of deferred payment.[4][5] Any kind of object or secure verifiable record that fulfills these functions can serve as money.

http://en.wikipedia.org/wiki/Money

You both are wrong. Dollars, bitcoins, and other currencies are NOT money. True money is Gold and silver (physical). Those I listed are just mediums of exchange (currency).

All three of you are wrong, TRUE money is WORK! You can represent it with various things, but without someone being willing to accept your hunk of metal in exchange for something they worked to produce, have fun eating your gold/silver.

And this coming from a PM bug Wink