Comment: five requirements of money

(See in situ)

five requirements of money

1)universally recognized
5)hard to duplicate (counterfeit)

Gold and other PMs on the table of periodic elements meet these requirements.

Bitcoin falls short on #1,4 and 5. perhaps with time it will improve on #1.

It is not durable,Gold is Gold whether the lights are on or not. Silver is Silver whether you are on the bottom of the ocean or on the moon. Bitcoin needs some computing power and electricity for it to work.

Duplication, yes it has crazy encryption and all that, but there are people who can hack into the Pentagon. So it's just a matter of time until somebody can work around it and either outright counterfeit it or con somebody into believing that they have the real deal.