BTC - Bitcoin is not quite a currency, but most certainly is Money

in bitcoin •  2 months ago 

If gold is money, Bitcoin is money

Most regulatory agencies are quick to point out that bitcoin isn't a currency. It's not sovereign, and it doesn't fill some of the everyday needs to be an effective currency, at least not yet.

VanEck agrees with this, but that's ok.

Bitcoin is already digital gold, everyone just hasn't realized this yet.

In a head to head comparison, bitcoin bests gold in just about every way.

Check it out:

(Source: https://cointelegraph.com/news/vaneck-report-illustrates-why-institutions-should-hold-bitcoin)

In fact, the only thing that gold has going for it over bitcoin is the fact it has been money for 10,000+ years.

If people want to hold gold, then they better hold bitcoin as well...

People have been holding gold as a portfolio hedge/diversifier for years and years.

Those same people need to be holding bitcoin as well.

According to research done by VanEck, adding a little exposure to bitcoin would enhance the risk adjusted returns of portfolios.

Check it out:

(Source: https://cointelegraph.com/news/vaneck-report-illustrates-why-institutions-should-hold-bitcoin)

There is no reason why anyone shouldn't own at least a little according to these findings.

There was a study done by a major university a few years back that showed a 3-6% allocation to bitcoin was ideal for producing the greatest risk adjust returns.

We now have multiple reports all coming out showing the same thing.

If you want to have the optimal portfolio, you better own at least a little bitcoin.

Stay informed my friends.

-Doc

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It has been wonderful to look forward to this post more beautiful post

Self-upvoted empty compliments are not a good look. May I suggest actually engaging with the content of posts you read?

@jrcornel, Let's hope that slowly and gradually Masses will understand the Subject Of Bitcoin and how important to enter into this space early. Stay blessed.

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Some people could argue that currency doesn't need to be sovereign to be a currency... Some government issued currencies also fail some of the tests that they claim Bitcoin fails, so one could argue failing just one test doesn't imply that something is not an currency... For example, Euro fails two of the tests, it's not issued by government, it's issued by international organization, it also has no daily use as it is not accepted as payment method by all merchants living inside Euro zone. Basically Euro is form of IOU as it is primarily used for balance keeping of credit and debit cards.

Yes, but currently bitcoin also has practicality issues in the form of speed/transaction size as well as tax issues and volatility that all make it not really functional as a currency.

I'm not really worried about transaction size... Think about Italian lira... One had to have bucket full of coins to use a pay phone... Speed on the other hand has been issue for Bitcoin since ASIC miners were invented.... Too much hashing power will result in either premature reach of maximum emission or very long block times.

Bitcoin will be a global currency future. Thanks.

Perhaps some day.

In 100 years, there will be no bitcoin reward to miners, all their incomes will be from transaction fee. Do you think they are still willing to mine bitcoin?

Probably, though I won't be around so it doesn't matter all that much to me at this point.

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