Re: Bitcoin - If you had the choice to vote - Commodity or Currency?
Let's say we live in a perfect world, where citizens still made the decisions on political matters and you as an individual were given the choice to vote on a subject.
If the choice were given to you, would you vote for Bitcoin to be accepted as a currency or a commodity? Your governments wants to accept Bitcoin, but they do not want a multi-function and open defined technology. They only give two options on the ballot paper.
1. Define Bitcoin as a Currency
2. Define Bitcoin as a Commodity
You have to remember that the definition will determine the future and the taxes that would be applied to the technology. Where will you draw your X ?
Let's see what would happen, if people were given a choice.
< Both is not a option >
Hm. This a HOT (Higher Order Thinking Skills) question and I think I can't choose between the two of it. But as what you've asked, I try to defend my opinion. If I will pick the particular usage of bitcoin, I really want it as both because for me, bitcoin is flexible. It can use as our currency and at the same time, it can be used to fill up our commodities.If the choice were given to you, would you vote for Bitcoin to be accepted as a currency or a commodity? Your governments wants to accept Bitcoin, but they do not want a multi-function and open defined technology. They only give two options on the ballot paper.
1. Define Bitcoin as a Currency
2. Define Bitcoin as a Commodity
You have to remember that the definition will determine the future and the taxes that would be applied to the technology. Where will you draw your X ?
Let's see what would happen, if people were given a choice.
< Both is not a option > But then, you are asking to choose only one and I think bitcoin serves as currency. Bitcoin existed to have a peer to peer connection using blockchain technology, hence it can only use as a medium of exchange.