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by earthbee 1224 days ago
I've exchanged crypto for goods and services, it's money for all my purposes.
3 comments

Yeah, but I didn't use it (because I think it's a scam) therefore it's not money nor currency. I can't understand these people.

I have a bank account with FIAT, and I also have BTC. I use both to pay for things. Although I mostly use FIAT, I also have a credit card that I charge with BTC to pay for things, but if I have the option I also pay with BTC directly. How is that "not a currency"? Because some people use it as a way to run scams and pay off ransomwares? Because people prefer to hold it and sell it at a higher price to get rich? Or simply because you do not understand it?

> Yeah, but I didn't use it (because I think it's a scam) therefore it's not money nor currency.

This blend of arguments is either terribly ignorant or disingenuous.

The definition of money is not "something that might have value to someone". Money has a very concrete definition, which lies in three key traits.

https://en.wikipedia.org/wiki/Money

Point out exactly which of these key functions do you believe any crypto thing complies with.

Sure.

BTC is a medium, measure, standard and store of value.

BTC is also durable, divisible, portable, acceptable and scarce.

Sadly for fungibility you need to look at XMR, which I prefer exactly for this reason.

But saying crypto is not money is a terribly ignorant and/or disingenuous argument.

> I've exchanged crypto for goods and services, it's money for all my purposes.

I've exchanged potatoes for tomatoes once.

Doesn't make 'em currency.

> I've exchanged crypto for goods and services, it's money for all my purposes.

I can go to the local market and exchange a bag of potatoes for some lettuce.

A potato is still not money.