PlagiarismUser:
THeromember09Post link:
https://bitcointalk.org/index.php?topic=5369390.msg58355488#msg58355488(
archive)
Not currently, no Lets count:
Medium of exchange. The main criteria for something to function as a medium of exchange are that it be robust and portable, Since BTC are virtual, they obviously fulfill these functions.
Unit of account. A unit of account needs to have a stable value. Here's the value of bitcoin over the past year:
Store of value. Look at that chart again what happened at the end of December last year?
People believe Bitcoin may come to serve as a unit of account and store of value because its supply is guaranteed to be stable. This depends on believing that the demand for the item in question is stable, which clearly currently it is not. As a matter of economic theory, I do not personally believe the demand for money is ever stable, and therefore the whole theory on which Bitcoin is based is false. However, that is clearly a more controversial point.
I have read the post and I have smelled somethin wrong. For example, he is talking about a chart but there is no chart. The fact is that he has copied it without citation from several sources:
https://www.quora.com/Does-Bitcoin-fulfill-the-classic-economic-functions-of-money1. Medium of exchange. The main criteria for something to function as a medium of exchange are that it be robust and portable, Since BTC are virtual, they obviously fulfill these functions.
2. Unit of account. A unit of account needs to have a stable value. Here's the value of bitcoin over the past year:
Actually, using
https://plagiarismdetector.net/ he appears to have plagiarised from two other sources,
https://archivecaslytosk.onion.my/zSJjS and
https://hallottson.com/content/dam/website-assets/collateral/bitcoin-downloads/MicroStrategy-Bitcoin-Accounting-Treatment-and-Tax-Considerationsktf--4502xx9.pdf but when I try to visit those links, the page redirects and they do not load.