Post
Topic
Board Economics
Re: Are Cryptocurrencies Really Money?
by
CODE200
on 25/01/2021, 16:10:56 UTC

   Are crypto currencies really money? The poll result was; Yes (79.9%) and no (20.1%)

I guess those people who voted for 'no' in the poll are those people who are using cryptocurrencies as an investment, benefiting on the profit out of this volatile market. But in the first place, cryptocurrencies are money, from the word itself. A currency is something being used as mode of payment in every transaction. There are other things in the market having value but it is not being use as payment in daily transaction right? It is just that in the case of cryptos, it is not yet being widely used in majority of the countries. Also, its volatile market value somewhat contradicts the concept of currency which is having stable market value in order to create equity in the world market. But that's because of its nature as a currency. Every currency is distinct to one another in the aspect of physical form and its value in the world market, but still it is a currency in my opinion.