cryptocurrency

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Are cryptocurrencies actually currencies? (lemmy.ml)

submitted 3 years ago* (last edited 3 years ago) by [email protected] to c/[email protected]

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They function more like speculative assets had a kid with tax evasion that's got extra chromosomes. Only value they really have is in DNMs...

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[–] [email protected] 3 points 3 years ago (2 children)

Some of them are commodities, others are securities.

[–] [email protected] 5 points 3 years ago (1 children)

can you explain how one can tell the difference? they all seem speculative to me. not knocking them, they have their uses for sure. Crypto I totally get, I'm just not sure about the currency part

[–] [email protected] 1 points 3 years ago* (last edited 3 years ago)

https://www.investopedia.com/terms/c/commodity.asp https://www.investopedia.com/terms/s/security.asp

https://en.m.wikipedia.org/wiki/Commodity_money

Idk maybe kinda hint at commodity money. Why it is so important ? You can call it crypto tokens for example if you don't like "currency"