The Instigator
TheGrandBrand
Pro (for)
The Contender
Yannistote
Con (against)

Should Bitcoin Be Accepted As a Currency?

Do you like this debate?NoYes+1
Add this debate to Google Add this debate to Delicious Add this debate to FaceBook Add this debate to Digg  
Debate Round Forfeited
Yannistote has forfeited round #2.
Our system has not yet updated this debate. Please check back in a few minutes for more options.
Time Remaining
00days00hours00minutes00seconds
Voting Style: Open Point System: 7 Point
Started: 2/13/2018 Category: Economics
Updated: 5 months ago Status: Debating Period
Viewed: 359 times Debate No: 107992
Debate Rounds (4)
Comments (1)
Votes (0)

 

TheGrandBrand

Pro

Format:

Round 1 - Notice of Acceptance
Round 2 - Opening regards on both sides
Round 3/4 - Refute oppositions arguments and bring forth new argument
Yannistote

Con

I accept the debate.
Debate Round No. 1
TheGrandBrand

Pro

Bartering can be dated all the way back to 6000 BCE, in short, bartering is when once person exchanges a good or service with another good or service. However this caused many problems, such as "how much milk is worth four apples". Often times people couldn't find someone else to exchange with because their good or service was irrelevant or unwanted.

The solution was the introduction of money as a currency. But what criteria does something have to fulfil in order to be classified as a currency?

It is simple, it has to be:
-A medium of exchange
-A measure of value
-A good store of value
-A means of deferred payment.

Does Bitcoin fulfil these requirements? Absolutely!

Being a medium of exchange would require that you can purchase items using Bitcoin. This is true, you are now able to purchase several items in the Microsoft store using Bitcoin. Since there is an exchange rate from Bitcoin to USD, as well as the ability to purchase products, Bitcoin would be considered a measure of value. This is simply because you can put a price on an item and that price could easily be in Bitcoin. Bitcoin can be used as a store of value as well, you are able to buy bitcoin, and in the future retrieve money from the investment. Lastly, it is also considered a means of deferred payment, although it may not be considered to be a very strong or reliable source, it would still be classified as a means of deferred payment.
This round has not been posted yet.
Debate Round No. 2
This round has not been posted yet.
This round has not been posted yet.
Debate Round No. 3
This round has not been posted yet.
This round has not been posted yet.
Debate Round No. 4
1 comment has been posted on this debate.
Posted by CM_Punk 5 months ago
CM_Punk
If it is on the internet, it can be hacked.
This debate has 4 more rounds before the voting begins. If you want to receive email updates for this debate, click the Add to My Favorites link at the top of the page.