Quote from: Asiong on May 08, 2018, 02:59:55 PM

Quote from: primarydumz on May 08, 2018, 09:33:08 AM

Successful currencies meet three criteria:

(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.

Most sovereign currencies fully meet all three criteria.

What about Bitcoin?

These criteria are reasonable and logical, although bitcoin doesn't meet all, I think it can still be considered as a currency since it can buy something. And even though it isn't considered and accepted by everybody today, we cryptonians don't mind at all since we're making a fortune out of it.

Bitcoin doesn't meet the "stable store of value" criteria, for now. When adoption and regulation comes, expect bitcoin to be somewhat a lot more stable than it is right now.