Re:Why it’s usually crazier than you expect
by brmgb on Sunday January 31, 2021 @02:26AM
(#25976893)
> Can anything tradeable with a fixed supply become a currency?
Yes, very much so (including something with unpredictable supply). Through history, diverse things were used as currency including shells, salt, silver and gold.
The commonly used definition of a currency was coined by Aristotle and is that it's an asset fulfilling three requirements:
- being an intermediary of exchange;
- being a store of value;
- being a unit of account.
You might notice that most cryptocurrencies are not actually currency owning to the first point.
Yes, very much so (including something with unpredictable supply). Through history, diverse things were used as currency including shells, salt, silver and gold.
The commonly used definition of a currency was coined by Aristotle and is that it's an asset fulfilling three requirements:
- being an intermediary of exchange;
- being a store of value;
- being a unit of account.
You might notice that most cryptocurrencies are not actually currency owning to the first point.