Some of them are commodities, others are securities.
this post was submitted on 13 Nov 2021
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cryptocurrency
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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
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"
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?
I regularly buy things with my bitcoin. Some coins are "tied" to regular currencies making them stable.