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Bitcoin or Gold? Money or speculative assets

In another post I have written that some people think that Bitcoin and cryptocurrencies are very similar to gold as they can be considered as stores of value, while others assert that it is not possible to compare gold to the modern cryptovalues as the first one is archaic and obsolete while the seconds are modern.

BTC is said to be a cryptocurrency. Is it also money?

What is money? I am not an economist so I have no skills in that subject. The only thing I have is a personal opinion.

Money are things that are commonly accepted in exchang for other things (food, drinks, cars, dresses, a dinner in a restaurant, a bus ticket, …).

The person who accepts our “money” does that on trust that he/she shall use the money in exchange for other things.

If I buy some bread, the baker accepts my Dollars (Euros, Yens, …) trusting on the fact that others will accept that Dollars in exchange of other stuff. That is money.

Until Bitcoin will not commonly be accepted in ordinary exchange (shopping for example) it will not be money, but only a speculative asset. I think that, in general, if I try to pay the baker (or other people) with BTC (ETH, TRX, BAT,…) he/she will politely (!!!) invites me to go away from the shop.

Gold has been money for thousands of years and it still is money: it is not possible to buy bread in exchange of gold (even if it will be of convenient for the baker), but in every city and town there are many pawn shops that accept gold in exchange of money (fiat money).

Gold is money, BTC not (for now?).

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I am Italian, over 50, interested in many things: geology, science fiction and cryptos

Reflections about the past, the future and the now
Reflections about the past, the future and the now

Observing what's happen around us: trying to unpuzzling what is puzzling

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