Crypto Crytocurrency vs Money

[Mataracy]

The features that money possess is many as will all know. Money said to be anything that is generally acceptable by people as medium of exchange that is,it is a means of paying for,and measuring the value of,goods and services.
This criteria that money possess makes it clear that money means different things to different societies or cultures.

So whatever its form,money must poses the quality of being converted instantaneously in to other forms of wealth. There are other qualities which distinguish money from other commodities.

I belive that crytocurrency is coming up though its has been used as a means as a medium of exchange but not generally acceptable as a medium of exchange yet.

Did you think that crytocurrency can still possess the quality of money?

 

[Sherman198]

I don't think it can be generally acceptable without the backing of the government. Anything that doesn't have the backing of the law and the government can't be generally acceptable by the society. And cryptocurrencies are not meant for the government to control, but if government wants to back it without controlling it well, i don't think that's possible. That's why it's a decentralized digital currencies. It's not meant to be controlled by any centralized institution. So I don't think cryptocurrencies will be generally acceptable.

 

[Alexandoy]

I really wonder why some people have the notion that crypto currency can be used as an alternative to money. Crypto coin is a commodity like shoes or pen. Would you fancy using shoes as your payment in buying food? That is the same as crypto although it is a digital commodity that is imaginary and not tangible.