Post
Topic
Board Economics
Re: Is Bitcoin the future of the global economy or just another commodity like Gold?
by
exstasie
on 05/05/2020, 18:02:47 UTC
Bitcoin can never be a commodity, commodities by definition have some sort of industrial utility, and Bitcoin was created to be digital money.

That's not the definition of a commodity. It doesn't matter why Bitcoin was created. A commodity is simply an economic good that has fungibility. https://en.wikipedia.org/wiki/Commodity

Bitcoin is a commodity. That's why BTC can have futures markets, and it's why the CFTC claims jurisdiction over them.

So my question is, is it really the future of the economy? or just the "new gold"?  Undecided

That's difficult to say. It's very much a gold-like asset in terms of its hard money characteristics and it's likely to keep being speculated on as such by the markets. Whether central banks will adopt BTC as a reserve asset is another matter.