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RE: WIN 500 SP - DISCUSSION: "Should Bitcoin Just Be a Currency or Store of Value?"

in #bitcoin7 years ago

I am telling you that bitcoin is both a commodity and a currency. It is a commodity since it is a property that you can purchase using dollars or fiat currency. But it is also a form of currency since you can use it to purchase things online and is also given as a form of salary in online jobs. Bitcoin becomes a commodity even it is a currency because it is not independent in itself it is backed up by dollars to have a value.
And for the Store of value, In my opinion that bitcoin is an awful currency, and one of the reasons for that is the volatility we're seeing. Can't have money fluctuate like that and still retain the drive to spend it. I guess that argument might also go against it being a good store of value, but I think it's more that than a currency.

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Yes the volatility is a big problem.