Re: Is Bitcoin a currency or merely a platform for transactions in other currencies?

Quote from: deed02392 on December 12, 2013, 09:58:29 AM

Ernst & Young have come out saying that Bitcoin shouldn't be viewed as a currency and is merely a platform for enabling microtransactions and e-commerce payments.

Opinions? I am struggling to understand how it can operate as a means of transferring money without being money itself? Unless they are more implying it WON'T be a currency rather than it can't be.

http://www.theguardian.com/technology/2013/dec/11/ernst-young-warn-bitcoin-payment-problems

Bitcoin has many uses.

What they are effectivly saying is eventualy 1btc will give its holder the privilage to transfer so much fiat/securitys/assets/commodities on the bitcoin network.

This approach can peg 1btc value at over 1Billion usd considering the amount of decimal places 1BTC has