Happy to read that 
Bitcoin is the first decentralized digital currency which can be transferred, purchased, sold, and directly exchanged without an intermediary in a peer-to-peer electronic payment system that is based on cryptographic proof.
Furthermore, it is literally digital money that cannot be faked (counterfeit), respects the personal privacy of its owner, and literally nobody, not even your own government, can confiscate it from you. As for attempted confiscation in example, we witnessed the news about the German government attempting to confiscate at least 500 million Euros worth of Bitcoin from one of their citizens who was the owner of that wealth. At the end of the day, They couldn’t take it from him and he called his lawyer to sue the government!
Bitcoins are not printed like fiat currency, and there is a maximum value of 21,000,000 coins, and they are created via complex mathematical problems solved by powerful computers which we call “mining”. Once solved, these cryptographic proofs are put into blocks and ultimately added into the blockchain system for transaction purposes.
Bitcoin is money because it is durable, since it cannot be destroyed and can remain in existence over the same period time as physical gold. It has a store of value indicating that you can save money by investing in bitcoin the same way you would invest in physical gold. It maintains its purchasing power over time, in fact, it has now a superior purchasing power than fiat currency. It has become one of the most liquid assets since its ever-increasing demand for that limited 21 million supply made its price skyrocket. It is universally accepted by all platforms, you can find BTC on any exchange. It is fungible like gold is, that is to say 1 BTC = 1 BTC, the same way 1 oz of gold = 1 oz of Gold. It is very easily divisible since you can sell 0.000000000000000000000000000001 BTC from your 1 BTC and have 0.9999999999999999999999999 BTC remaining.
In summary, bitcoin possess the same qualities like gold in order to be labelled as real money. But there is one commodity that backs up Bitcoin that cannot back up gold: Energy!
Energy is one of the most valuable commodity, and therefore Bitcoin would be impossible to exist if all power supply is shutdown. Without energy output, there can be no digital gold in existence. My suggestion to my fellow crypto investors: if you are already investing in crypto currency, you may also consider investing in Nuclear Fusion companies’ stocks, as more energy consumption will be required in the future and your green energy lobbyists will not be able to produce that large amount of energy with their frozen wind mills.
To our Gold lovers. Enjoy the ever increasing price of Gold while it lasts. One day Elon Musk may be mining gold off from asteroids which will plummet the price of Gold on Earth. I don’t think you can find Bitcoin in outterspace, so I think Bitcoin may become a more valuable asset than Gold in the space exploration future.
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I hope it is widely accepted as money soon.
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Money can be described as 3 concepts.
- A unit of measure.
- A store of value.
- A transaction.
Accordingly, Bitcoin meets all the definitions of money.
Best Regards,
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i love the transition were in bitcoin is pure genius i can see the comparison to gold more and more now.
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wow ive learned so much so far thank you crypto community
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China banned it. Now India have banned it. Governments around the world are trying to regulate the hell out of it and stifle its spread, adoption and innovation. I think it was as a result of the great depression in the 30’s America banned the ownership of gold https://en.wikipedia.org/wiki/Executive_Order_6102 . You may get some despot leaders around the world try to do the same thing to try to keep their hold on power and maintain control over nation states but ultimately, Bitcoin wins.
This was a reply to the post at the top of this section. Not sure how it ended up down here!!
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Is BTC really money or is it stored value/wealth?
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The course only discusses bitcoin as money, not other cryptocurrencies. And when reading another blogpost by Parker Lewis he rejects all other cryptocurrencies as money. This is a rather strong statement but seems to be valid (because of the “minority rule”, see https://unchained-capital.com/blog/bitcoin-cant-be-copied/). If this is true, what effect does it have on all other currencies, tokens and smart contracts based on blockchains other than bitcoin? @Arami_Alfarhani
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Bitcoin is money without corruption. As a store of value it is durable and can be accessed anywhere, value dense and can absorb any amount of value, maintains purchasing power with its value showing tremendous price increase despite volatility over the last 7 years, and Bitcoin is is liquid,it can easily be bought and sold.
As a medium of exchange, Bitcoin is widely accessible, portable, divisible, and acceptable. especially with new tokens and blockchains such as shopping.io and local bitcoins that enable exchange of bitcoins to USD and to local currencies. Equity management firms and big banks are now embracing bitcoin as a store of value for their customers as demand is rising,
The non-fungible nature of bitcoin makes it incorruptible and can not be used in double spend.
Bitcoins instability in business is sorted out through payments via stable coins. There is currently wide acceptability of bitcoin in various business entities around Africa and the rest of the countries.
Bitcoin is also a unit of account whose measure is fixed and can not be altered, and is has sufficient granularity.
Bitcoin has proof of work production unlike paper money.
Bitcoin is the network running on the blockchain , the protocol embeded in the genesis block and the consequent halving after 210,000 blocks every 4 years and language. Bitcoin is deflationary due to purchasing power, and disinflationary due to supply increasing at a decreasing rate due to halving. halving reduces payment to miners and increases transaction fees
proof of work .
Bitcoins neutrality makes it acceptable in use case
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‘haha printing press go brrr’
Man that cracked me up 
Agree with that… It’s really amazing! Especially when you’re realize that everybody is living the robot life and have no idea what’s going on
I love the Platypus story !!
Bitcoin is the future, it is a sad that people don’t know what’s happening with their fiat money…still trust in goverments
At this moment we are at the end of the 6th beginning of the 7th state of empire. After that good money will conquer the world! #btc,#eth.
Dont miss the opportunity. Buy now. Is a final countdown for Bitcoin to skyrocket. Bitcoin is a multitask asset so its more than clear that our and next generation will use bitcoin as a currency to buy goods etc.
Of course in Bitcoin empire is included Ethereum as well.
Bitcoin is a digital asset for an investment of crypto.
Did anyone catch the backstreet boys “bitcoin” quotes ?
Now I understand why BTC IS money!
furthermore, in the vid “Bitcoin as Money - Monetary Policy”, screenshots are presented of a newscast of a zoom/skype/whatever meeting having so many talking heads from government vs. one of a software algorithm to contrast their monetary policies: to me this is a scarily FALSE DICHOTOMY!
Coin protocols are run by and large on SOME sort of consensus mechanism, and the lack of consensus among talking heads in govt is more likely a result of their being so many stakeholders/groups to consider in the consensus (vs. bitcoin having a smaller community), i.e. this problem should scale with a coin’s user base, no?
The D.A.O. fail: Vitalik et al made a very political decision to divide their community at the time into those who were willing to brute force a fork (rescuing their funds) in order to deny the extortionist’s coin and those who were less willing to save the D.A.O. creators from their own shortcomings (i.e. more willing to let an algorithm suffer for its own shortcomings). Policies may be written in code, but we have by no means escaped the reality that they’re still written by humans.
(one thing I ignore above is that stakeholders/groups are much better informed when all relevant human behavior on the network can be collected and analyzed so that gaming the system is MUCH harder; I agree with this counterpoint, but tell me with a straight face the government hasn’t already been collecting our data, or just buying it from big tech, for a while now…)