01 Sep '13, 3pm

Is Bitcoin a currency? One Switch reader says no. - Washington Post #bitcoin

Internet comments are often somewhat Hobbesian: nasty, brutish and short. So every week we make a point of highlighting some of the more thoughtful and reasoned exchanges that take place on our blog. Bitcoin advocates met with federal regulators this past week to explain how the technology works. In response to our coverage, user bannedagain5446 charged that Bitcoin isn’t a currency: It’s a scrip payment, or a speculation, or a form of discounted paper, but the one thing that it ISN’T is currency! The claim touched off a long conversation — supported with evidence! — about the difference between currency, legal tender and barter. The distinctions aren’t just academic; in fact, it’s a good bet federal officials were having much the same discussion themselves behind closed doors. In another post, my colleague Tim wrote about a high-profile GAO report finding that software pa...

Full article: http://www.washingtonpost.com/blogs/the-switch/wp/2013/09...

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