Bitcoin is a special unit of account used to price the prices of certain goods, services or financial assets; it trades against classic currencies on many platforms. The stock of bitcoins increases at a fixed rate according to a decentralized computer production; this rate decreases over time, with a maximum limit of 21 million units of account.
At its launch in 2009, a bitcoin was worth 12 dollars. Today, its price is breaking records: it was trading at $ 11,000 at the end of November 2017. This price level and the fluctuations it has shown since its creation do not have a priori any influence on the monetary policy of central banks. on economic activity. It can either enrich or impoverish those who participate in this market, and that's about all ...
1.5% of the stock of American currency
Bitcoin does not fulfill almost any of the three functions that characterize a currency: medium of exchange, currency, store of value. It is on the first function that bitcoin comes closest to a currency. But it is far from being a means of generalized exchange; if it is used to perform certain transactions (more than 100,000 merchants, and companies such as PayPal, Microsoft, Dell or Tesla, would accept bitcoin), it is far from being accepted in exchange for any good or service like is a real money. As for the other two functions, given its volatility and the frequent fluctuations in its value up and down, it is obvious that it can not satisfy them, especially ...
