First, I dont want this to be true but it is not.
Currency is a unit.
It is a unit in the system of measurement of value* wealth. Just like an inch is a unit in the system of measurement for length.
Units (and there have been thousands of different ones) all have 2 things in common.
1- They are not real. They are all made up, everyone of them is just an opinion. Inch, pound, meter, cat 5, g force,currency --- not real.
the are all just an opinion that we chose to share. We all share the opinion that an inch is so long, if we all shared the opinion that an inch was a foot then it would be.
2- All units are equal to a constant.
Bitcoin is not a currency because it is not a unit. It has to be definable it has to be equal to something. An inch is not real but it is definable.
FTFU
Value is a subjective term it is time, space, and need dependent. No 2 being value everything equality.
wealth on the other hand is a shared opinion of what we value.
Bitcoin is equal to a constant as it, for arguments sake has a finite number.
It is the most practical unit of measure ever to exist that supports the meme of money.
While the
value of a glass of water depends on whether you are drowning in it or dying from lack of it.
Wealth as an opinion that we chose to share is relatively constant, Bitcoin is the most appropriate unit of measure (currency) to have ever existed that can be used to measure wealth.
Value on the other hand remains a subjective process by which individuals make decisions and does not need a unit of measure. (Many may actually use the collective shared opinion of value ie.
wealth to help them make subjective decisions involving value judgments - it's called following the judgment of the herd) the underlying collective opinion of what we all value (wealth) is not affected (food, safety, comfort, free will, - Maslow's hierarchy of needs ).