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RE: Let Bitcoin be MONEY and NOT "Currency"

in #bitcoin7 years ago

Consider using the standard definitions and try to be sharp with them because others in the space will be: https://en.wikipedia.org/wiki/Currency

I like to define ideal money by stability of value whereas all the other points you listed can fall under that (ie without durability the value won't be stable).

Money is a measurement device and so what good is an unreliable measuring tool?

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Stability of value is nonsense and non-e xistant. stability is an illusory practice by currency fixers like central banks. British pound fell 20% after Brexit. If you want to "stabilize value" you either form a basket of assets (diversify) or use derivatives (futures/options) to hedge. Value fluctuates always because people transact in an economy and create/destroy value.
Bitcoin is pretty much durable, the blockchain is very persistent.
If you want to see how reliable gold and Silver are in measuring value across 3000 years check pricedingold.com. Many goods and services that were offered in the past like a suit are still the same price in gold ounces/grams.
Bitcoin is very accurate in measuring value, up to 8 decimals.

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