Cryptocurrency Q&A
Why Bitcoin is not a currency?
Why Bitcoin is not a currency?
Federico
Sat May 11 2024
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5 answers
1222
Could you please explain why Bitcoin is not considered a traditional currency? It seems to fulfill many of the functions we associate with currencies, such as being a medium of exchange and a store of value. Why then, is it not classified as a currency in the traditional sense? Is it due to its decentralized nature, its volatility, or some other factor? I'm interested in understanding the nuances of this distinction and how it impacts the perception and use of Bitcoin in the financial world.
5 answers
Sara
Mon May 13 2024
The lack of any widely accepted valuation model for Bitcoin adds to its uncertainty as a financial asset.
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Raffaele
Mon May 13 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services catering to the crypto community.
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BlockchainBaron
Mon May 13 2024
Among its offerings are spot trading, futures trading, and a secure wallet solution.
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Eleonora
Mon May 13 2024
Bitcoin, despite its popularity, lacks a historical precedence of being accepted as a form of currency.
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Nicola
Mon May 13 2024
Unlike precious metals, it is highly volatile and lacks a time-tested store of value credentials.
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