Yeah, LP’s definition of money is right out of my old Econ 101 class from the early 60’s. But the digital stuff has made it necessary to add LMC’s limitation. While it might be fun to play with bitcoins, and maybe even make some money doing it like Barron Trump has reportedly done, there is no bleeping way I’m going to bet my security and financial well being on something I can’t stash a heap of on a shelf in the back room.
You wouldn’t want to show up here with a picture of a bitcoin, on your phone, if things get tough and you need some hardware, groceries, or any of the other things survival might require?
I should note that there doesn't have to be a universal agreement as to whether something is money or not.
There are many things that have been used as money that I would not accept. Wampum, copper ingots, tulip bulbs, come immediately to mind.
As far as I am concerned, all of the digital currencies are no different than tulip bulbs as to whether they are money or not.
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)