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17 sats \ 4 replies \ @Rothbardian_fanatic 7 Dec \ parent \ on: MONEY CLASS OF THE DAY: Intrinsic Value vs Subjective Value...and Music! econ
People right now are exchanging bitcoins against “real” goods and services, and the sellers intend to use at least some of the acquired bitcoins to obtain other “real” goods and services down the road. There is no question that Bitcoin is currently a medium of exchange, though I would not christen it a money yet.
I would have to agree with this assessment as of 2018, however, bitcoin is approaching the point where it could become money. There is some speculation as to it happening in 2025, after the FRN crashes.
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20 sats \ 3 replies \ @Undisciplined 7 Dec
What’s lacking currently?
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22 sats \ 2 replies \ @Rothbardian_fanatic 7 Dec
Widespread acceptance of BTC for goods. It is spreading but not quite widely enough to be calling it money, yet. Perhaps, soon, only a few months!
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20 sats \ 1 reply \ @Undisciplined 7 Dec
That’s fair. It’s still emerging.
I do think it’s worth noting that there are people and places using bitcoin as money, though.
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21 sats \ 0 replies \ @Rothbardian_fanatic 7 Dec
Yep, is agree, in fact, I think whole nations are using it right now, aren’t they? Soon, THE WHOLE WORLD!!!
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