Post
Topic
Board Bitcoin Discussion
Is Bitcoin a cryptocommodity or a cryptocurrency?
by
cloud777
on 15/02/2018, 11:42:18 UTC
Is Bitcoin a cryptocommodity or a cryptocurrency?

1) a currency must be exchanged easily. Now it's impossible to pay a coffee with BTC (scalability, fees), but we can pay a car because in the second case it's not necessary to have timeliness (it happens, for example, with wire transfers).

2) a currency must be a unit of account. How rich are you? You can answer me by quantifying your wealth in FIAT. But BTC is volatile. Today you can be rich and poor tomorrow. Currencies are stable (in most cases).

I think that BTC is currently an asset, the "gold of the future". I don't like this concept, but it's true.
Community must do something to reverse this transformation.
Only in this way Bitcoin will be able to fully express the potential of blockchain technology.

What do you think about it?