IS CRYPTO MONEY? The Laws Of Economics say YES!

To obtain this answer, we will turn to the Laws of Economics to see what causes money to be money. Remember this article is not financial advise.

In the Laws of Economics there are 6 characteristics that define/signifies money. Lets review these characteristics together.

Durability - Objects used as money must withstand physical wear and tear. For this reason you will most likely never see cookies take the place of money, as they are likely to dissolve in the rain - if not eaten first. With many alternatives more durable than cookies, the Laws of Economics are unlikely to gravitate to cookies as a form of money. Blockchain however, is an excellent alternative.

Portability - People need to be effectively and efficiently take money with them as they go about their business. For this reason the Laws of Economics will gravitate away from bricks from ever taking the place of money.... This particular characteristic is excelled by blockchain where a tradition wire transfer from one country to another can still take weeks, where crypto can do the same job in minutes or even seconds. Obviously, the faster the blockchain with the least fees would grade highest in "potability".

Divisibility - To be useful, money must be easily divided into smaller denominations , or units of value. For this reason as well, bricks will not be a useful from of money. A dollar can be divided into 100 pennies at most, but as for blockchain many are divisible to the seventh decimal range.

Uniformity - Any two units of money must be uniform or the same in the terms of what they will buy. For this reason cows would not act as an effective from of money because two cows are never alike, whereas one Ethere is the same as another Ether.

Limited Supply - Money must be available only in limited quantities. Many decentralized blockchains actually excel in this area where traditional central reserves have the ability and do practice in quantitative easing.

Acceptability - Everyone must be able to exchange the money for goods and services. The more people that accepts something as money the more value it gains. If no one accepts it, the value goes to zero.

... When considering all these factors one might ask which Crypto grades the best when all characteristics are considered. For this reason you may want to look at NANO - https://www.facebook.com/FindingJohnGalt/videos/583693475299538/?t=14

Six Characteristics of Money - https://quizlet.com/37912993/the-six-characteristics-of-money-flash-cards/