Re:Debate HN: Is Bitcoin a currency or a commodity?
by GaryRowe on Thursday April 18, 2013 @12:28PM
(#5571495)
Bitcoin is a protocol. There is nothing stopping the UN from creating their own currency using the Bitcoin protocol with all the characteristics they require of a reserve currency.
Re:Debate HN: Is Bitcoin a currency or a commodity?
by Jtsummers on Thursday April 18, 2013 @01:06PM
(#5571749)
It's also a thing that is attempting to be a currency/commodity. I suppose in any discussion we should make clear which aspect we're talking about. I was talking about the currency/commodity aspect as that's what this entire thread was started on. For the protocol, I agree with you.
Second problem, it requires a major shift in the motivation of many adopters (anti-fiat, anti-fractional reserve banking).