Is bitcoin currency or commodity

Bitcoin Is No Longer a Currency - The Atlantic

Bitcoin Is Now Classified as a Commodity in the U.S.

Bitcoin will now be classed as a commodity in the U.S. along with gold and.Bitcoin is not a new form of money that replaces previous forms,.

The gold safe haven story is primarily propagated by gold funds, gold ETF providers, and gold vendors, and is a popular go-to story for pundits on CNBC and Bloomberg TV when discussing movements in the gold price.Unlike traditional currencies such as dollars, bitcoins are issued and.Whatever the court decides, it wont finally speak to the actual nature of Bitcoin.But the digital asset does possess characteristics of a commodity.

Syscoin Begins The Next Phase of its Evolution with Blockmarket, A Decentralized Marketplace Wallet.Bitcoin itself is not subject to inflation due to its design.Lowe, a bankruptcy court in San Francisco is being asked to determine whether bitcoin should be treated as a commodity or as U.S. currency.

Not only has bitcoin shown to rally during times of economic turmoil and uncertainty but it has also outperformed every single major traditional and alternative asset class since its inception.Whether you consider bitcoin to be a currency, a digital commodity or just a technological fad, the fact that BTC-USD surpassed the value of one troy ounce of gold is an important milestone for investors looking at alternative asset classes for portfolio diversification.Please enable JavaScript to view the comments powered by Disqus.As opposed to gold, some argue that bitcoin can also be considered a good hedge against inflation.

Bitcoin Is a Commodity, Not a Currency - The Bitcoin News

While it is clear that the argument bitcoin may be a better safe haven than gold, given its historical volatility and its relvatively short existence, it may not be appropriate to put the cryptocurrency in the category of a safe haven asset just yet.

Bitcoin: not a Currency-Like Informational Commodity

On Thursday, September 17, 2015, Bitcoin, one of the rapidly growing number of digital currencies, or cryptocurrencies, was declared a commodity by the Commodities.

Bitcoin Price Soars, Fueled by Speculation and Global. currency Bitcoin has been. less similar to a currency than to a commodity,.Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto.Bitcoin, like gold, has properties that make it act as both a commodity and a currency.By definition, currency is usually backed, defined and produced by government or some authority.

A currency needs a relatively stable value to function as a medium of exchange.Bloomberg Anywhere Remote Login Software Updates Manage Contracts and Orders.In simple terms, bitcoin — which dates only to 2009 — is part currency, part commodity.Bitcoin: Tra Moneta Virtuale E Commodity Finanziaria (Bitcoin: Between Digital Currency and Financial Commodity).

Bitcoin - Wikipedia

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Bitcoin: What Is It Good For? -

There is no clear correlation between the price of gold and the inflation rate in the US.However, it has a long way toward being a unit of account and is a relatively small market, which is why bitcoin is not considered to be a currency, although it is a possibility in the distant future.

The Bitcoin Money Myth | Mises Institute

Bitcoin, on the other hand, has historically rallied in times of economic turmoil and market downturns suggesting that it may be a safe haven asset.

While bitcoin has some characteristics of a currency, the case is stronger that it is a commodity.In September 2015, the Commodity Futures Trading Commission (CFTC) issued an order filing and settling charges against a cryptocurrency company for conducting.

Bitcoin as a Commodity, Seriously? - NEWSBTC

Late last week, the U.S. Commodity Futures Trading Commission (CFTC) defined bitcoin and other digital currencies as commodities.