Is bitcoin currency or commodity

 

Cyprus has spurred much buzz about Bitcoin as a currency alternative, but it might be high-time to view the virtual money as a commodity.BitCoin is a decentralized digital currency that can be exchanged for goods and services in lieu of traditional payment options like credit cards, bank-to-bank.Instead, the author argues that bitcoin is purely a technology and that.The frictionless payment system, if developed properly, could become a major currency in decades to come.

True commodity money, or commodity-backed money, has some amount of non-monetary demand to stabilize its price.A currency needs a relatively stable value to function as a medium of exchange.

In simple terms, bitcoin — which dates only to 2009 — is part currency, part commodity.In my recent post, I discussed the shortcomings of Article 9 of the Uniform Commercial Code as applied to Bitcoin.The US Commodity Futures Trading Commission (CFTC) has officially recognized Bitcoin has a commodity, offering yet further recognition for the emerging digital currency.

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Bitcoin as a Commodity, Seriously? - NEWSBTC

The regulators in the U.S. call Bitcoin a commodity but in many ways it is both a commodity and a currency instrument.Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto.On Thursday, September 17, 2015, Bitcoin, one of the rapidly growing number of digital currencies, or cryptocurrencies, was declared a commodity by the Commodities.A recent Bloomberg article argued that bitcoin is neither a real currency nor a commodity.

Bitcoin & Exchanges - A Quick Primer - ETNA - etnasoft.com

Bitcoin Is An Asset, Not A Currency. Is Bitcoin the currency.

Essentially Bitcoin is a. bitcoin as property rather than currency for.Among our main objectives is to popularize the use of cryptocurrency, explanation what cryptocurrencies are and how they play the role of payment instrument and means for safe storing and earnings, as well as providing the necessary knowledge, educational articles, information about upcoming events and conferences dedicated to the development of cryptocurrency.The ongoing discussion of whether bitcoin should be classified as a currency or a commodity is not only being held by members of the bitcoin community but also by financial regulators attempting to categorize the cryptocurrency for regulatory purposes.Bloomberg Anywhere Remote Login Software Updates Manage Contracts and Orders.

The bitcoin was just recognized as an official commodity

Bitcoin: between digital currency and financial commodity

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What Is Bitcoin? Is It Legal Money? What Could Happen To

Bitcoin - Wikipedia

Amanda Cole discusses the relevance of Bitcoin today as both a digital currency and commodity, and how it will ultimately affect the millennials generation.

Bitcoin is now officially a commodity according to U.S. regulators, Bloomberg Business.Furthermore, bitcoin can also be used as an input for products and services as it is in the case of Counterparty.

Bitcoin is a Digital Commodity, Not Just a Technology

Bitcoin - Currency or Commodity For Purposes of §550 And

Bitcoin will now be classed as a commodity in the U.S. along with gold and.Bitcoin is now considered as a commodity in the US due to a ruling by CFTC.The CFTC has confirmed that bitcoin and other digital currencies are commodities covered by the Commodity Exchange Act (CEA).