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Why Bitcoin Is Tangible – Digging Into The Guts Of Bitcoin

runtogold.com 08 Nov '12, 7am

New post: Why Bitcoin Is Tangible - Digging Into The Guts Of Bitcoin Like this post? Please ReTweet.

: I will bring up something a little bit more fundamental. First of all, I recognize the points that you are making and I do think that preventing the double spend is a brilliant advancement in the nature of currency. … Where I have issues is that Bitcoin is not a tangible asset . If I have a piece of silver or a piece of gold in my hand it is a tangible asset and if I use that to purchase from you an asset or good or service the exchange is extinguished at the moment that those assets are exchanged for one another because you are giving a tangible asset in exchange for a tangible asset. But what has happened in the last few hundred years is that currency has moved from being a tangible asset to being a financial asset. A financial asset has counter-party risk; there is someone’s promise that this currency will have value in the future.

Full article: http://www.runtogold.com/2012/11/why-bitcoin-is-tangible-...

Tweets

@paesean » 09 Nov '12, 3pm
Why #Bitcoin Is Tangible – Digging Into The Guts Of Bitcoin [link] #vfq #tracemayer
@flix1 » 08 Nov '12, 5pm
Digging Into The Guts Of Bitcoin @RunToGold [link]
@keepyourassets » 08 Nov '12, 4pm
"Bitcoin eviscerates entire volumes of legal statutes rendering them inert." [link] #bitcoin
@koenvervloesem » 08 Nov '12, 11am
Trace Mayer has a convincing argument that Bitcoin is a tangible asset: it's tangible but incorporeal [link]
@RunToGold » 08 Nov '12, 8am
Post Edited: Why Bitcoin Is Tangible - Digging Into The Guts Of Bitcoin [link] Like this post? Please ReTweet.
@RunToGold » 08 Nov '12, 7am
New post: Why Bitcoin Is Tangible - Digging Into The Guts Of Bitcoin [link] Like this post? Please ReTweet.
@HostFat » 08 Nov '12, 5pm
Why #Bitcoin Is Tangible – Digging Into The Guts Of #Bitcoin [link]
@BitCoinReporter » 08 Nov '12, 11am
Why Bitcoin Is Tangible Digging Into The Guts Of Bitcoin [link] #bitcoin