Title: Re: If not a "store of value" or "medium of exchange" ...
It says what it is in the first sentence of the white paper brother, a peer to peer electronic cash
Meaning it is a stand alone medium of exchange, kind of like usd,euro or yen (just not run by a country *centralized*, but by all willing participants *decentralized*)
So it is a decentralized, medium of exchange. (which people give a value)
Yes but fiat has nothing to do with the equation.
I have apples and my neighbor has pizzarolls, We trade apples for pizzarolls every year without my apples or his pizzarolls fiat price in question, it is irrelevant.
Just like how the first bitcoin trade happened, I have traded him bitcoin for the pizzarolls before bitcoin even had a price.
The people create this value, so it will always have a value on what the trade agreement is between both parties.
The fiat price of bitcoin could go to 0, bitcoin will still be traded for goods and services. That is how the first trade happened to begin with
It says what it is in the first sentence of the white paper brother, a peer to peer electronic cash
Meaning it is a stand alone medium of exchange, kind of like usd,euro or yen (just not run by a country *centralized*, but by all willing participants *decentralized*)
So it is a decentralized, medium of exchange. (which people give a value)
bitcoin is a store of value. as it first needs to be a store of value to then be a medium of exchange.
by this i mean if having no value, people wont want to exchange it.
by this i mean if having no value, people wont want to exchange it.
Yes but fiat has nothing to do with the equation.
I have apples and my neighbor has pizzarolls, We trade apples for pizzarolls every year without my apples or his pizzarolls fiat price in question, it is irrelevant.
Just like how the first bitcoin trade happened, I have traded him bitcoin for the pizzarolls before bitcoin even had a price.
The people create this value, so it will always have a value on what the trade agreement is between both parties.
The fiat price of bitcoin could go to 0, bitcoin will still be traded for goods and services. That is how the first trade happened to begin with