Cryptocurrency

[AtW]

Other things you can't pay taxes with:

-Gold
-Cars
-Stocks
-food
etc

All of the above ain't money.
All of the above still have inherent values: especially Gold.

What's the inherent value of "crypto-currency"? None.

[vadhert]

Anything that has confidence as a medium of exchange or a store of value is considered money.

Tulips, nuts, salt, sugar, gold.

History tells us this.

[psychocandy]

Crypto bubble has been growing out of control for the past 8 weeks. From $30 billion to $116 billion in 8 weeks is insane. The ETH flash crash was the pin that pricked the bubble IMO.

Wait for it to return to the mean ~$60-$70 billon and buy in again. Crypto has now too much attention now to disappear into nothing.

Just after I bought a few weeks ago :-(

[AtW]

Anything that has confidence as a medium of exchange or a store of value is considered money.

Storing value (especially in a depreciating asset) isn't money.

Crypto-tulip got NO inherent value whatsoever.

HTH

[FrontEnder]

All of the above ain't money.
All of the above still have inherent values: especially Gold.

What's the inherent value of "crypto-currency"? None.

You said "You can't pay taxes with it - so no inherent value whatsoever". Paying taxes isn't the measure of if something has value.

Money itself doesn't have any inherent value. It's simply medium of exchange.

[The_Equalizer]

Storing value (especially in a depreciating asset) isn't money.

Crypto-tulip got NO inherent value whatsoever.

HTH

The USB pen drive you keep it on might be worth a £1?

[vadhert]

Storing value (especially in a depreciating asset) isn't money.

Crypto-tulip got NO inherent value whatsoever.

HTH

So do you call GBP/USD/EUR money then? Explain how inflation falls into your philosophy?

[AtW]

You said "You can't pay taxes with it - so no inherent value whatsoever".

No inherent value for something that calls itself "money" but you can't pay taxes with it.

[AtW]

So do you call GBP/USD/EUR money then? Explain how inflation falls into your philosophy?

GBP/USD/EUR are money because you can pay your taxes with them.

GBP/USD/EUR are very important money (unlike many others) because one can pay taxes in MAJOR economies.

Inflation is good because it forces people to spend money, which is where taxes kick in.

"crypto-currencies" have deflation built-in - that forces people to hoard "coins", very bad for economy, if they ever were to graduate there.

[vadhert]

Jesus wept