Hacker News new | ask | show | jobs
by dpc_pw 2421 days ago
The author just described how bitcoin has property of money (being a speculative bet that a given asset will carry value in the future), and deduced that bitcoin is not money.
1 comments

That's not what money is.

You're describing futures.

Bernard Lietar identified one of the modern properties of money as indeed speculation. 99% of forex is just that.
In banking and finance everything is speculation. Pork bellies are speculation. Gold is speculation. That they consider money to be speculation as well is just a matter of perspective.

Outside of that world it's not speculation.