Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

If you want to view BTC as a commodity, it does look very boiler-room-y.

If you want to view BTC as a currency, it doesn't look that way... IMO.



Uh,

BTC appears entirely dysfunctional as currency.

"currency refers to a generally accepted medium of exchange." http://en.wikipedia.org/wiki/Currency

BTC is neither generally accepted nor does it have the STABLE VALUE needed to become more accepted as a medium of exchange. And last element is something the Bitcommunists just utterly miss. Because a currency is medium, just a means, it will not function unless its value is stable. Not decreasing OR increasing.

Whenever the BTC shills tout the increasing value, they've accomplished the old "switch-a-roo" from currency to speculative commodity.


Well, as a currency, for it to 'increase in value', it needs to be more broadly accepted. That would increase ability for people to use it.

But currencies are also dual-purposed as commodities (c.f., forex traders).




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: