Re:The Fallacy That Is Cryptocurrency
by lisper on Thursday October 17, 2019 @09:25PM
(#21287862)
> Especially, not exclusively.
It's like the difference between "car" and "vehicle". Not all vehicles are cars. Not all money is currency. The boundary is not precise. Is an SUV a car? Maybe. Is a semi truck a car? Definitely not. But it's still a vehicle.
Is a dollar bill currency? Yes. Is the balance in your checking account currency? Maybe. Is a check currency? Definitely not. But it's still money.
> Also, are cryptocurrencies not currencies?
No. It's arguable whether or not they are money. The U.S. government treats them like a commodity for tax purposes.
It's like the difference between "car" and "vehicle". Not all vehicles are cars. Not all money is currency. The boundary is not precise. Is an SUV a car? Maybe. Is a semi truck a car? Definitely not. But it's still a vehicle.
Is a dollar bill currency? Yes. Is the balance in your checking account currency? Maybe. Is a check currency? Definitely not. But it's still money.
> Also, are cryptocurrencies not currencies?
No. It's arguable whether or not they are money. The U.S. government treats them like a commodity for tax purposes.