Ah, so if U.S. government says Bitcoin is legitimate, it suddenly has extrinsic force: it will be accepted like “real” money.
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@GlennF ehhhh your analysis is missing a few steps there
@GlennF Bitcoin isn't used as a unit of account, it's used as a medium of value. Best understood as a payment system.
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@sarahjeong That’s only if you want to view it that way. It has the properties of a currency.Merci. Twitter en tiendra compte pour améliorer votre fil. SupprimerSupprimer
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@GlennF If the US "recognizes" Bitcoin, it's not as money per se but as an alternative / marginal practice of payments. -
@sarahjeong I do see your point. But it also sweeps it closer to extrinsic. -
@GlennF It does, but I don't think the gov't is the only player. Gov'ts are a very efficient players in money systems but that doesn't mean> -
@GlennF >they are the only ones that apply that kind of game-changing action to money. -
@sarahjeong Also agree. Something about having nuclear weapons helps, though. -
@GlennF shameless self-promotion: I wrote this from a quasi-sovereign theory of money POV http://ssrn.com/abstract=2294124 … -
@sarahjeong Oh, this looks wonderful. I am marking to read later (and I will). I have an Economist piece coming out in a couple of weeks -
@GlennF Looking forward to reading it!
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