Quote from: BlackHatCoiner on Today at 01:01:10 PM

Quote from: legiteum on Today at 12:41:02 PM

No, there is a single US congressman with a proposed bill right now, and a lot of people on the Internet saying they want this.

Well... yes? If there's a proposed bill, the people who stand to benefit directly from it will naturally support it, assuming it makes sense for the nation's financial security. What are you expecting? For them to oppose it?

LOL, it doesn't make sense for anybody's "financial security" except for the tiny portion of the US population who currently holds a lot of Bitcoin

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And yes, frankly, I'm expecting Congress to oppose this. A few in Congress will want this--because they personally hold a lot of Bitcoin--but the rest will be holders of all kinds of other things and they will want their investments pumped instead. And then the whole thing will have problems with, um, "optics": Congress members fighting over whose investment gets free money from the US government

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Yes, gold is a product.

Gold is primarily an asset, a commodity. It wouldn't be wrong to call it a "product", since it can be used for direct consumption, but it's just inaccurate to treat it like this, as a whole. Anyway, we're not going to agree on this one, but Bitcoin is not a product; it is not produced for direct consumption, nor is it used for creating other products. It's money; used only for exchanging it with goods and services.

This is just semantics. You can trade any sort of things and use it as currency, including cigarettes, or whatever.

As I have said before, I expect technology is going to decouple the notion of transacting from the notion of saving/investing/speculating. Bitcoin will never be suitable for everyday transacting, only the latter. But it stands along side literally millions of other "things" (call it a "product" or a "asset" or whatever you want) that will sit in people's portfolios.

I get that Bitcoin is your very, very favorite investment, and presumably the only one you have in your own portfolio. But it's rather arrogant to believe that should be the only thing everybody on the planet ever invest in again, to the point that the US government should give that one special favors.