Post
Topic
Board Economics
Re: Are Cryptocurrencies Really Money?
by
mezzaluna
on 17/02/2021, 10:01:38 UTC

If we are to go by the definition of what money really is, then they are all money, since of the definitions of money is assets, properties and resources, and cryptocurrency is part of assets, so that makes it money, and whatever the central banks are going to release as their digital money , if we regard them as assets, they are still money.

So, all these things are money in the sense that they are all part of our wealth. But no country has really released a digital money yet, and those who claimed that they did never had it functioning. So, we don’t have any as of yet.

Also, if you are in doubt if the cryptocurrency is really money, convert it to your fiat and you will see your physical cash. Sometimes, there are people who want to see the physical cash in order to believe that it is real money. So whatever form your assets are, if you are in doubt, try converting it to your fiat and you will see what you've got.

Its also really weird to see people within this industry asking about Cryptocurrencies being legitimate money. They should really try to experience it first hand because all doubts will be lost once they have earned enough cryptocurrencies that can be converted into fiat or cash. Even when I first learned about Cryptocurrencies, I had that doubt but when the opportunity presented itself when I was able to convert it into fiat, all of my doubts were lost and I really started deep diving and look for ways to earn Cryptocurrencies.