15 sats \ 1 reply \ @cryptocoin 2 Sep 2022 \ on: Bitcoin isn’t money bitcoin
What is your definition of "money"?
The Merriam Webster dictionary has this:
1: something generally accepted as a medium of exchange, a measure of value, or a means of payment: such as
- a: officially coined or stamped metal currency
- b: MONEY OF ACCOUNT
- c: PAPER MONEY
https://www.merriam-webster.com/dictionary/money
BeautyOn makes the claim that bitcoin isn't money so as to have it not be regulated as money. e.g., If bitcoin is not money, then money laundering laws would not be applicable.
Nice try ... but the law in various jurisdictions doesn't use such a narrow definition of money.
In the U.S., however, ... you can argue that bitcoin is also speech (since it is original data created by you, or by software under your control). And thus, bitcoin use is protected as free speech.
I agree that Beautyon seems to be using the framing as a counter to regulation. I was being provocative with my title, Bitcoin isn’t just money would have been more accurate. I also like the Bitcoin is Just money framing as well.
I suppose I’ve been thinking about it in the sense that it limits our ability to see what other potentials it has.
Interestingly, bitcoin doesn’t fit into the three examples there since it’s an accounting system, or maybe it’s “b” although I never liked self referential definitions. When will Merriam-Webster update its definition to fit bitcoin. 😄
I know that our framing (in life generally) prevents us from seeing other things, I’m trying to imagine what I’m missing by thinking of Bitcoin as Just money.
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