this is not what people mean when they say "it isn't real money". strawman argument is unconvincing. if you could pay for the taxi ride with cryptocurrency it would be about as real as fiat currency, but you can't, so it isn't.https://twitter.com/julian0liver/status/958080067233615872 …
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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Cryptocoins are not generally accepted for commercial exchanges right now, thus not money currency. They are basically commodities though, but not because it gains value through trade (that's a trait of market valuations, not commodities).
End of conversation
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We are basically argue t opposite sides of a chicken/egg question: It’s not used as fiat bc it’s not stable,it’s not stable bc it’s not fiat
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it's not fiat b/c it's not fiat. Fiat means "let it be so", meaning, an outside authority declares the legal status of a thing. There is no authority that can declare fiat status for cryptocoins, it's decentralized by design.
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the "moneyness" of something is a matter of social convention, and who is willing to accept a thing as currency. that's orthogonal to whether or not it's fiat money.
End of conversation
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