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The Contender
Con (against)

Should Bitcoin Be Accepted As a Currency?

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Voting Style: Open Point System: 7 Point
Started: 2/13/2018 Category: Economics
Updated: 3 years ago Status: Debating Period
Viewed: 596 times Debate No: 107992
Debate Rounds (4)
Comments (1)
Votes (0)





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


I accept the debate.
Debate Round No. 1


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.
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Debate Round No. 2
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Debate Round No. 3
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Debate Round No. 4
1 comment has been posted on this debate.
Posted by CM_Punk 3 years ago
If it is on the internet, it can be hacked.
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