Post
Topic
Board Bitcoin Discussion
Re: How well does Bitcoin function as a currency?
by
qwerty12
on 03/10/2018, 18:47:02 UTC
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?

Among all these criteria, I always believe that Bitcoin fulfills everything well, with the exception of a stable store of value. But, is the value of fiat currency always stable, I don't think so. Therefore, it is very unfair to say that Bitcoin does not meet the currency criteria because of its value not stable.