In this video, I'll be discussing whether Bitcoin can really be said to be a legitimate form of money. I'll be exploring the fundamental properties of money in my attempt to do this.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
***I am in the process of adding many of my videos from YouTube on to DTube. Apologies for any posts that you've already seen before!
Original date of upload: September 4th, 2017
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Keep them coming. Are you also taking advantage of the LBRY.io synch option?
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I had technical problems with LBRY a little while back so I stopped using it. Might give it another shot though. What do you think about it?
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I am also curious about this platfrom but as I don't make any videos it's not something I have explored yet would be interested to hear your experiences :)
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As long as you can buy/trade bitcoin for anything, sure it is money.
But there is one big BUT. You can never be sure they wont fall to 10 USD by tomorrow. You cannot be sure for USD/EUR/CAD also, but i think the risk there is way lower.
and yea, the bigger the risk, the bigger the profit/loss
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Btc can never fall to $10 again. Crypto currency is very volatile that is the only bad side of it.
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Informative. Thanks! Upvoted!
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I spend crypto and it feels good knowing I'm paying with money that is more valuable than FIAT.
Bitcoin can be like Gold and Cash at the same time, as good store of value money should.
Dollar cost averaging in, is the best way. You'll be rich in a few years of HODLing. Don't fall for the altcoin scams - 99% are junk and will go to 0
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if most people are HODLING not using it its not really much of a currency
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It's money to me because I have trust in it and have used it to transact for other important items.
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Thanks for this interesting video @louisthomas! To me, it's not only that Bitcoin and other Cryptocurrencies are money but rather that they represent the next step in the evolution of money. But as you pointed out correctly, there are still a lot of issues and BTC and Cryptocurrencies still have a long way to go. I like the comparison of Andreas Antonopoulos, where he compares cryptocurrencies to the internet and assesses cryptos to be at the stage/level of maturity, the internet was in 1992. It happens that I just recently read the book "Internet of Money" and wrote a post where I try to answer the question WTF is Money, I'd appreciate anyone who takes time to have a look and provides feedback and I hope this isn't considered as cheeky post promotion, since I really think it fits, relates and adds to the topic of your video. Please let me know if you don't consider this to be ok. Thanks again for your great content, I'm looking forward seeing more of it! Cheers - @sblue
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Bitcoin is certainly money but not as we know it . While fiat currency is certainly being debased on a daily basis it is being done in a somewhat stealthy manner and low interest rates means we don't really see the inflation that is going on. BTC on the other can swing wildly up and down in a single day and that volatility makes it difficult to use as money because how do you price anything. This will be a challenge for all cryptos going forward & even if mass adoption does happen I can't see crypto volatility disappearing anytime soon.
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i really respect you how dedicated you are on posting videos constantly .. and trying to keep a video with good content
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Bitcoin = Real money in the simple sense that we agree it has value, and we can pay for goods with it.
Bitcoin (and all crypto) just isn't realistic money.... at the moment. Nobody wants to use a currency that fluctuates so violently from day to day, hour to hour. Why pay for something with bitcoin/crypto when that same currency is worth %10-%15 more than what it was at the time of purchase?
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very long and detailed vlog on bitcoin as relates to legal tender with its properties well explained and compared. thanks for sharing this. will keep following to learn more
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Thanks man for this and am sure I'll get informed and educated the more as a minnow here. I look forward to viewing your videos and I know they'd surely be of great help. Regards.
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Hi how are you Louis? Really interesting video, i love it ! I would like to connect with other cool and creative steemians, artists and musicians. I’m posting music tutorials and other things related to music (and bitcoins:p). I’m the founder of the free music school communicasound. I'm really pleased to meet you. So i give you my vote, follow you and i will be happy to read your next posts in the futur. If you want, you can do the same and follow me. It’s important to have a family in Steemit :) Greetings from Paris. Peace.
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Bitcoin is more like a bar of gold.
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Very good and interesting information friend excellent graphics very good post thanks for sharing is a great contribution for the community greetings
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Congratulations @louisthomas, this post is the tenth most rewarded post (based on pending payouts) in the last 12 hours written by a Superuser account holder (accounts that hold between 1 and 10 Mega Vests). The total number of posts by Superuser account holders during this period was 1379 and the total pending payments to posts in this category was $9988.18. To see the full list of highest paid posts across all accounts categories, click here.
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Great video! Do you think the transaction costs might be said to play into the divisibility aspect?
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I have been following you on youtube from the past two months and your videos are really great.
You are one of the few youtubers in the cryptocurrency space whom I listen to regularly.
I know you have made videos about IOTA but I would really love to see one more from you as I am a huge fan of IOTA.
Thank you!
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First time seeing your videos, well done, good content.
To me, anything that holds value can be considered money. FIAT currency is becoming more and more like cryptocurrency in a way...less people carry the physical cash around in their wallets. It can get lost, stolen, burnt in a fire...so people keep it in their bank accounts.
That money doesn't sit there in a vault...the bank lends it out, invests it...and it is all tracked on a giant ledger. Same concept for Bitcoin and blockchain.
Baseball cards are currency, coupons are currency, season tickets are currency...the list goes one.
Thanks for the vlog, cheers.
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Nice job!
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As we move further towards a cashless society are views on money need to be updated, most of our money is now just numbers on a computer screen, the only different with bitcoin is you can actually audit it and is not reliant on faith. Obviously the banks don't like it as it's 100% transparent and trustless!
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The most important thing is its adoption. If everyone agrees that it holds value, then it will. Just like the pieces of paper and plastic that we keep in our wallets.
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I think that Bitcoin and cryptocurrency is better than physical money or cash because it is one way of avoiding disease, because guess how many people have touched the cash that you are using?
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Nice and interesting video!
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