[LonePalm]

I think you dropped two zeros in your posted exchange rate.
At that exchange rate you're paying $1059.39 per bit coin.

The current price of one bitcoin is $105,955.61.

The form of money is irrelevant as long as it meets the following criteria:
1) It is a medium of exchange. That is, people will readily accept it for buying and selling goods and services.
2) It is a store of value. That is, it has value in and of itself.
3) It is a means of accounting. That is, it can be used to recon profit and loss.

The best description of what money is and isn't is in Francisco's Money Speech from Ayn Rand's Atlas Shrugged. I make it a point to read it several times a year.

SpyNavy

Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)

[Larry - Moe and Curly]

“The form of money is irrelevant as long as it meets the following criteria:”

One thing you may want to add to the criteria:

It doesn’t disappear if the grid goes down.

[musicnart]

Yep, yep! You are so right! Oops!

ThanQs for the correction. Guess I flunked that one, eh?

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Never read Ayn Rand’s Atlas Shrugged. I’ve heard it’s hard to get through.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Presently, I can shop in a huge Amish market and pay with my cc, or USD. The Amish ppl drive up in vans from out-of-state. (I have wondered if they drive the vans at home.)

I wonder if they’ll be able to accept payment for anything in the future that is digitally recorded on a blockchain.