If someone thinks that bitcoin = money, you must be sure that he don't understand bitcoin correctly. Bitcoin has different usage. These people see Bitcoin as a way to transfer money. In the end, they think Bitcoin is a worthless token.
PayPal is a better option for these people. (if they are just looking for a hassle-free transfer)
I am wondering why we call Bitcoin cryptocurrency. And yet not consider it as money anyway this is to show the difference between money and currency
Currency is the promissory note or coin presented in the form of money. Money is an intangible concept. Currency is a tangible concept. Money takes the form of numbers.
| https://i.imgur.com/rPE0KzJ.png | | ''''''''''''''''''''''''''''''''''''''''''
Cryptocurrency
Same but online
Cryptocurrency is
an intangible concept
Cryptocurrency takes
the form of codes
Cryptocurrency is backed
by market demands
Bitcoin, Ethereum,
Litecoin etc.
Can be transferred
online |
Now, given with the infographic difference between currency and money what category do you think BTC fall in??
Aside from the given infographic do you think BTC meets these characteristics of money?
durability
portability
divisibility
uniformity
limited supply
and acceptability
or these properties of money?
Medium of Exchange
Unit of Account
Store of value.
I think depends on the answer, people will have a variation of answer to whether Bitcoin is money or not.
