“I have been tweeting and broadcasting that bitcoin is not real money”
More than a thousand retail locations would disagree...
It is an exchange of value that is outside government control (largely).
“More than a thousand retail locations would disagree...
It is an exchange of value that is outside government control (largely).”
Except not a single one of these retailers holds their bitcoins more than a few milliseconds before they convert them to an actual currency CONTROLLED BY A GOVERNMENT. Not to mention pricing is 100% in terms of the putative “value” of a bitcoin in terms of an actual currency CONTROLLED BY A GOVERNMENT.
Therefore, bitcoins in the retail world would be 100% useless unless immediately convertible to an actual currency CONTROLLED BY A GOVERNMENT and no retailer would accept them. In other words, bitcoin is NOT a currency, does not function as a currency, and has value as a medium of exchange solely because of its convertibility into an actual currency CONTROLLED BY A GOVERNMENT.