Bitcoin is fiat money, too

Re:Bitcoin is fiat money, too by Finnucane on Friday September 22, 2017 @10:00PM (#15317604)

By that logic any tradable thing can be a 'medium of exchange'. Sure, people will hold a stable currency when their own is sinking, but deliberately designing a currency for deflation is stupid.

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Re:Bitcoin is fiat money, too by lojack on Friday September 22, 2017 @11:34PM (#15317937)

I understand your point, but I'm not sure I agree that being deflationary or being primarily used as an investment precludes it from being used as a medium of exchange.

I do think there are some aspects of bitcoin that limit its use as a medium of exchange (transaction times, current lack of stability), but I don't think its the deflationary part.

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Re:Bitcoin is fiat money, too by zdkl on Friday September 22, 2017 @10:48PM (#15317778)

Well in a sense it's quite freudian: you gotta feel the (unrealised value of the) bitcoin leaving you for it to be universally recognised as "having value"

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