Authors: Jan Aldert Bergstra
Six assertions concerning the status of Bitcoin are formulated and defended: (i) Bit- coin is not and will not become a currency-like informational commodity, (ii) currency- like informational commodities that aren’t currencies must be frauds, (ii) specific BTC amounts may become monetized and thus may be turned into financial assets, (iii) currently no BTC amounts are monetized in any currency area and therefore none are financial assets, (iv) by means of burocratic steps only some BTC volumes can be turned in to an informational currency within a given currency area, modified client software is not required for that step, (v) if a specific amount of BTC qualifies as currency, it also qualifies as money, (vi) moneyness of Bitcoin, or rather of a specific occurrence of an amount of BTC, should be questioned only after one has agreed positively on its status as a financial asset, and negatively on its status as an amount of currency. Factions in the Bitcoin promoting movement are viewed from a perspective of organizational multi-threading. Different factions of the Bitcoin movement may wish to see status issues about Bitcoin settled in different ways. Overall consistency in these matters should not be expected from the union of factions in the Bitcoin movement.
Comments: 14 Pages.
[v1] 2015-01-01 07:05:10
Unique-IP document downloads: 259 times
Vixra.org is a pre-print repository rather than a journal. Articles hosted may not yet have been verified by peer-review and should be treated as preliminary. In particular, anything that appears to include financial or legal advice or proposed medical treatments should be treated with due caution. Vixra.org will not be responsible for any consequences of actions that result from any form of use of any documents on this website.
Add your own feedback and questions here:
You are equally welcome to be positive or negative about any paper but please be polite. If you are being critical you must mention at least one specific error, otherwise your comment will be deleted as unhelpful.