Post
Topic
Board Bitcoin Discussion
Re: [VIDEO]The Nasty Secret of Bitcoin Exposed
by
DannyHamilton
on 20/01/2020, 14:35:39 UTC
Bitcoin is not a money system as money systems transfer either goods (commodities) or entitlements. Bitcoin, on the other hand, is a system for transferring digital membership certificates. Membership certificates are not money.

You seem to be using a definition of "money" that is different than most.

Most people would agree that:

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.

Using this, far more common, understanding of money... Bitcoin is a money system.