Quote from: HeRetiK on September 10, 2019, 01:15:37 PM

Quote from: antikvark on September 10, 2019, 12:47:45 PM

In the case of gold certificates things are similar, it is just that those two stages are reversed. Namely in stage one, one party of the exchange deposits some gold at the bank and receives a certificate for it. This certificate is then traded for goods or services and in that way put into circulation. In stage two the opposite party i.e. a current holder of the certificate takes it to the bank to claim the deposited gold. Once the holder receives the gold the exchange process is finished. And this is how goods and services are exchanged with the help of gold certificates.

So the solution is easy. Just make Bitcoin certificates and use that as money. Problem solved Wink

On a more serious note, anyone can establish a rather arbitrary definition of A and then claim that B is not A because B does not fit that arbitrary definition. But there's no knowledge to be gained from that line of argumentation.

I want to continue on the same line!! Bitcoin will never match the definition and usability of a real-world fiat currency so it makes no sense to compare bitcoin with them!

Without going theough all these high level fundamentals of the currency system, I can say, bitcoin is an absolutely new type of money for the evolved need of the consumers! Comparing bitcoin with fiat currency is a bad idea!