Comment: Bitcoin is more FRN than it is Silver.

(See in situ)

Bitcoin is more FRN than it is Silver.

What is important here, is that Bitcoin is not redeemable, and it is not money by virtue of its own value; Bitcoin is just nebulous computer data.

Silver is something of value.

This is the most important difference, and something that Bitcoin supporters don't understand. Bitcoins and FRN's are trading vehicles; a means to an end. Gold and Silver are beautiful precious metals, and an end in their own right.

When you receive a Bitcoin, or a dollar, what matters is what you can get for it -- material enrichment. When you receive Gold, or Silver, you've been materially enriched.

Bitcoin is actually WORSE than FRN, because it is not good for tax payment.