Bitcoin started revolutionary and attracted billions of people's attention over 2017.
many challenge bitcoin's ability of being a currency, which I believe is completely TRUE
why Bitcoin can't be a currency?
- it's slow in transactions
- it's very volatile and high fluctuating
above reasons are enough for me to be forget about Bitcoin as a currency. but what Bitcoin can be?
what role it can play in the modern economy?
a new Comodity
In economics, a commodity is an economic good or service that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
Fungible means replaceable by another identical item; mutually interchangeable. this is exactly what bitcoin can be. and the fact, commodities are very speculative, makes Bitcoin more acceptable as a Commodity to me.