Post
Topic
Board Bitcoin Discussion
Re: A Simple Reason Why Bitcoin is not Money
by
Dripplurd
on 11/11/2023, 23:28:58 UTC
to correct the OP

currency is anything used as a medium of exchange

MONEY is a specific currency used by a community/nation and ratified as the official currency of that society.. money in history has been controlled by the rulers of that society and distributed/taxed and accounted by those rulers(legal tender)

much like europeans claim euro as their money, much like americans claim dollar as their money
we in the bitcoin community/society deem bitcoin as OUR money with a different method of distribution and control..

but europeans do not claim dollars as europeans money. but still recognise dollar as a medium of exchange foreign currency vs euro


Is simply because the market price of bitcoin is highly volatile and subjected to large price swings. as a result,the market price at any given time may vary wildly from what could be considered a fair value.