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You haven't answered any of my previous objections. They are objections that Robert Wenzel raised too (chronologically, I raised them first here). When did bitcoin become a currency, Malachi? On what date?
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Robert Wenzel from the Economic Policy Journal agrees with me. Economic Policy Journal, March 23 http://www.economicpolicyjournal.com/2013/03/man-lists-home-for-sale-in-terms-of.html Bitcoins can only be considered money when people are comfortable to price products in terms of bitcoins and nothing else. That is, they think in terms of bitcoins as a
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It isn't a currency. It may be in your fevered imagination, but it isn't a currency today, nor has it ever been a currency. Cryptographic tokens (probably not bitcoin, in my opinion) may become a currency once day, but it certainly isn't a currency now. Educate yourself - http://www.searchasite.net/outsitesearch.html?domains=www.searchasite
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Sorry, by calling me a bitcoin hater, you have given up any claim to rationality. Bitcoin is what it is. I have 40 bitcoins. Doesn't make it a currency. Merchants need some stability in their 'transactional currency'. Just look at all the Silk Road vendors that got taken to the cleaners.
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[quote user="Malachi"] [quote user="matt_kyle"]Prices where you live change on a daily basis? [/quote] is that a real question? fuel and grocery prices change daily. I can remember watching the price of raspberries climb as they went out of season. [/quote] Not prices of individual products, but prices in general. Do they change
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Whatever you say, bitcoin is not a 'transactional currency', because it is neither primarily transactional, nor is it a currency. I have worked out a method of solving the error of bitcoin. Not going to tell what it is. Just going to make my own crypto-tokens.
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Prices where you live change on a daily basis?
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It still isn't a currency. I actually own bitcoin. I am down $8000 at current prices. I accepted the risks, and still have a smile on my face. I use bitcoins to conduct transactions. The person on the other side knows that bitcoin has a certain value at a given moment in time. He knows that if he holds those coins and does not cash out, they will
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Robert Wenzel thinks along the same lines as me - Note: More is still also listing the bungalow in terms of his countries fiat currency, Canadian dollars. Bitcoins can only be considered money when people are comfortable to price products in terms of bitcoins and nothing else. That is, they think in terms of bitcoins as a reference and not translate
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No, the question is "what do you buy with it?". Bitcoin store is an interesting idea. Some of the products, not all, are cheaper than you can buy elsewhere. That said, most people have to pay fees to purchase bitcoins in the first place, and that dampens or even negates any discounts. I am not here to debate the merits of bitcoin - I already