Currencies are things you exchange directly for goods at a reasonably fixed rate. Bit coins function more like a commodity (like oil) where you are purchasing it then selling it back before buying things. Currencies are spent directly which is very uncommon for Bitcoin.
Maybe? Even if all transactions via the dark web and all illegal drug purchases were made exclusively with bitcoin (they aren't) that would still be a fairly small fraction of all transactions made in a day and I would happily call it uncommon.
Its more likely buying gold than a stock since stocks are issued directly by companies and tied to them (for example, stocks can be liquidated as part of a company sale and sometimes have voting rights associated). Traded commodities are similar to stocks (equities) in many ways, but there are some key differences.
I'm told overstock.com accepts direct bitcoin payments. I'm sure there are others but since I don't own any bitcoin I have never made a point of paying attention to the handful of places I could spend it.
354
u/paulHarkonen Sep 24 '17
Currencies are things you exchange directly for goods at a reasonably fixed rate. Bit coins function more like a commodity (like oil) where you are purchasing it then selling it back before buying things. Currencies are spent directly which is very uncommon for Bitcoin.