Let’s begin with a solid definition of money: Money is a good that people value for the mere prospect of later exchanging without having consumed it, or, in other words, for its exchange-value.
Bitcoins, because they can be exchanged, even though they cannot be consumed, are a candidate for being money.
BitcoinBitcoin1$ 56,883.160.18%-6.01%-15.89%details are exceptionally good for exchanging.
Bitcoins can be stored for future exchange indefinitely and inexpensively, and in multiple ways and locations simultaneously.
Bitcoins, when stored in one’s own self-custody with appropriate safety considerations cannot be stolen or seized, either by physical force, through the application of ‘hacking’ skills, or by brute force computing power.
Bitcoins’ digital nature makes their divisibility easier than any good that could actually be consumed. When dividing and recombining bitcoins, no dilution or impurity occurs.
Bitcoins’ digital nature means they can be exchanged across any two physical points connected to the digital network, which is currently practically every point on earth.
Bitcoins’ digital nature means they can be exchanged quickly, even instantly through 2nd layers.
Bitcoins’ cryptographic ownership makes exchanges of bitcoin indisputable and final.
Bitcoin’s decentralized blockchain also means that its whole history of all exchanges of bitcoins is indisputable.
Bitcoin’s digital nature and enforced supply cap ensures bitcoins’ exchangeability is never diluted.
