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] 1 points 3 years ago* (last edited 3 years ago)

The speculative aspect of cryptos is because we're still trying to figure their value out. How much is a Bitcoin? How valuable is it? This happens all the time in markets with new assets.

As for the question, it's up to everyone. Is this a currency to us? If yes, it will be. If not, it won't. That's the point of a cryptocurrency: you're not forced to use it. The dollar is a currency, but why? Think about it. Is an apple a currency? Why not?