Monetary Theory: What money is and why cryptos actually are not money

[tar]

Hi,

when it comes to our everyday economical behaviour, most people assume it is bartering and an exchange of physical things. Therefore they assume money is a standard of exchange and even relate money with a special thing everybody somehow has agreed to use. While this assumptions have no influence on our daily usage it is an enormous misunderstanding of money and the law mechanisms behind it. After researching this issues for several years and debating it repetetivly on occasion whenever someone sticks to the barter dogma, I wrote this short explanation in order to give not only a wider and more realistic perspective of the understanding of money but also to make it more comprehensible regarding the scientific facts/sources. It also contains a very small part about cryptos and why they cannot replace conventional money in their actual state.

scribd.com: What is money? (https://de.scribd.com/document/371701405/What-is-money-v1-0)

Any feedback is appreciated.

Regards ;-)

 

[Bitterom]

Cryptocurrency is not money. You can think one of them as assets. Money is a physical things and it remains constant if you do not spend them. Cryptocurrency value changes all the time. What do you guys have to say? Have your say in the comment section.

 

[Toros]

The concept of money is relative with cryptocurrency. But you cannot consider a cryptocurrency like Bitcoin as money per defintion. The cryptocurrencies are an asset. An asset whose value fluctuates with the market's occurings.

 

[Toros]

I was really confused what to think of cryptocurrency. I went with the theory that cryptocurrency is an asset. If you think of it as money, it will be hard to put in that category. I know that this is a never ending debate. What do you think of Bitcoin especially?