29 Jul '13, 11pm

contrarian

contrarian

“So, is Bitcoin actually money ?” It’s a fair question and, with the intense scrutiny directed at the “crypto-currency” of late, an increasingly common one. But the real question is not whether Bitcoin functions as money today, nor whether Bitcoins themselves are a good speculative investment. The real question – and the only important question when considering whether Bitcoin could be a viable alternative currency – is, “can Bitcoin ever function well enough as money to matter? ” And that answer, I fear, is no . Whether something is “money” has nothing to do with the source of production, whether it’s issued by a government or a private company or spontaneously generated by a community, whether it’s minted or mined or printed or issued electronically. Money is … well, money … to the degree to which it enables transactions , to the degree that you can use it to purchase th...

Full article: http://finance.yahoo.com/blogs/the-exchange/bitcoin-money...

Tweets

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