That’s not the main point…if the value of something can fluctuate by 50-60%within a few days it is not a currency,it is a volatile commodity
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yes, that's a very good reason why nobody wants to use it as currency, but there are definitely examples of fiat currencies having similar volatility (Venezuela right now comes to mind). I was responding to the stated reason in the example though.
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Exactly,Venezula-type hyperinflation is one of the marks of a failed currency.I’d have no issue with calling BitCoin a“terrible currency” :)
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well, it would be a terrible currency if you could even buy anything with it besides darknet drugs and malware ransoms.
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Currency:mainly value storage,bc of government guarantee of stability. Commodity: Item gaining value through trade,according t supply/demand
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No. Definitely not. Those aren't reasonable definitions of either of those words and they aren't reasonable descriptions of the characteristics of things we use those words for.
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Currency refers to the trait of an object of "being generally accepted", where money currency is generally accepted for commercial exchanges, but currency can apply more broadly, like "this idea has cultural currency".
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Commodity refers to the trait of an object as being generally fungible, a member of a class without distinguishing characteristics.
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