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Board Beginners & Help
Re: Why treat bitcoin as money and not code/software?
by
DannyHamilton
on 16/11/2013, 16:33:17 UTC
The comparison is not bitcoin and bank accounts, its bitcoin and the USD.

The point is that "money" that you have in a bank is just 0s and 1s in a computer database maintained by software, "bitcoins" is just 0s and 1s in a computer database maintained by software.  To say that "bitcoins" is software because it is "just 0s and 1s" is to say that the transfer of value can't be represented as a transaction entry in a computer based transaction ledger.

Bank accounts are just a bank's way of accounting and displaying transaction information, etc.

And bitcoins are just the bitcoin protocol's way of accounting and displaying transaction information, etc.